The Real Deal Miami

Goldman Properties sells 125-room Park Central hotel on Ocean Drive

Strong demand for historic hotels in Miami Beach
July 26, 2013 03:00PM

Tony Goldman and the Park Central Hotel at 640 Ocean Drive

Tony Goldman and the Park Central Hotel at 640 Ocean Drive

Goldman Properties has sold the 125-room Park Central Hotel on Ocean Drive in Miami to a consortium led by top Miami broker Ricardo Tabet, among the flurry of deals for historic hotels in Miami Beach, the Miami Herald reported.

“We wanted to make sure that the people that took over the guardianship of the property would love and care for it the way we did and would continue with the true hospitality and the true authenticity of the property,” Jessica Srebnick, CEO of Goldman Properties, told the Herald of the property at 640 Ocean Drive.

The deal was brokered by Jones Lang LaSalle Hotels’ Gregory Rumpel, and was among the many recent transactions in the area. Jones Lang LaSalle also arranged the $12.5 million sale of the Royal Polo hotel at 2940 Collins Avenue earlier this month, and is marketing the 46-room boutique Cavalier Hotel at 1320 Ocean Drive.

Northwest of the Cavalier, an affiliate of real estate investment firm Rockwood Capital bought the 23-room Haddon Hall hotel at 1500 Collins Avenue as well as the adjacent 45-unit Campton Apartments, according to the Herald. Financial details of the transaction — which closed on Wednesday — were not released. [Miami Herald]  – Hiten Samtani