Miami Beach’s Greystone Hotel sold

The historic Greystone Hotel in Miami Beach has been sold for $7.5 million, according to Esslinger-Wooten-Maxwell, which brokered the deal on behalf of seller 1920 Collins Realty and buyer Vos Hospitality. EWM’s Nelson Gonzalez and Allison Turk led the transaction. The sale of the property had been several years in the making, according to Turk. Shulman + Associates has been retained to oversee the architectural work on the property, which was built in 1939. Vos Hospitality, the boutique division of Michigan-based Trans Inns Management, plans to fully renovate the hotel, along with adding a high-end restaurant and lounge. The project is slated to open at the beginning of 2014. — Alexander Britell