The Real Deal Miami

Miami Beach hotel trades for $11M

Seller paid $5.8M for property nearly six years ago
February 26, 2014 01:30PM

Hotel Eva at 1506 Collins Avenue

Hotel Eva at 1506 Collins Avenue

Hotel Eva in Miami Beach has changed hands for $11 million, The Real Deal has learned.

Ventura Way of Miami Beach sold the 1506 Collins Avenue hotel on Feb. 18, according to Miami-Dade County records. The county recorded the transaction Tuesday. Orlando Valdes is the manager of Ventura Way, which paid $5.8 million for the 29-room hotel in July 2008.

J3 Collins Ave is the buyer. State corporate records show the company is managed by James Potter of Snohomish, Wash. It obtained a $6.5 million mortgage from TotalBank for the acquisition.

The hotel was originally constructed in 1962. — Eric Kalis