The Real Deal Miami

Claridge Hotel joining Faena District after $14M buy

December 18, 2013 04:30PM


Faena District rendering and 3500 Claridge Avenue in Miami

Alan Faena, the developer best known for the Saxony Hotel’s $550 million makeover, has been revealed as the buyer of the historic Claridge Hotel in Miami Beach for $14 million.

The Coral Gables-based hotel management company sold the site at 3500 Collins Avenue, about 15 years after acquiring it for nearly $2 million. The sale closed last month, as reported by The Real Deal.

The property will now join Faena’s planned Faena District, which will “pay homage” to mid-Beach’s MiMo design.

The hotel recently underwent a $9 million renovation. It currently has 42 guest rooms, six junior suites and two penthouse units. Restaurant Amalfi on the Beach is located on the ground floor. [exMiami]Mark Maurer