Palm Beach Shores hotel and development site hits auction block

April 25, 2012 03:45PM

Seaspray Inn and Beach Resort

The owner of the Seaspray Inn and Beach Resort in Palm Beach Shores has put the property up for auction, according to Pompano Beach-based Fisher Auction Company, which is handling the sale. The 51-room oceanfront property, at 123 South Ocean Avenue, sits between Singer Island and the town of Palm Beach. It’s located near the Marriot Vacation Club’s Timeshare Resort and the Dolcevita luxury condominium building.

The hotel features a restaurant and terrace overlooking the Atlantic Ocean, a swiming pool and bar area on the first floor, parking for 56 cars and about 170 feet of frontage on Ocean Avenue.

It sits on more than a half-acre of land that is already approved for 50,000 square feet of residential development, which includes up to 27 units in a structure no taller than six stories.

The auction will be held June 8 with a minimum bid of $3.75 million. — Adam Fusfeld