search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudBank of Southern California puts Neil Shekhter portfolio up for saleBank of Southern California puts Neil Shekhter portfolio up for saleLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlords
South Florida

Man-Co pays $50M for Miami Beach Best Western

The Best Western hotel in Miami Beach has traded hands for $50 million, CoStar reported. Hallandale Beach-based Man-Co USA picked up the 93-room, 66,528-square-foot building at 9365 Collins Avenue for about $538,000 per room. There were no brokers representing Man-Co or seller Island Associates in the deal.

Sign Up for the undefined Newsletter

Rooms in the hotel go for between $129 and $299 per night, but CoStar said the astronomical purchase price can be attributed to the value of adjacent land that’s primed for development. [CoStar]

Tags
Miami Beach