The Real Deal Miami

Downtown Miami hotel on market as redevelopment play

Yonkers-based AVR Realty has owned Courtyard property since 1987
September 04, 2014 09:45AM

Christian Charre and Robert Given

Christian Charre and Robert Given

Allen V. Rose’s AVR Realty is marketing the Courtyard Miami Downtown to potential buyers as a redevelopment opportunity.

Yonkers, N.Y.-based AVR wants to sell the 200 Southeast Second Avenue property, according to Wednesday’s announcement from real estate firm CBRE, which is handling the listing. The 1.1-acre property’s zoning would allow for up to 1,070 condominiums. The 233-room Marriott-branded hotel was originally constructed in 1975.

Rose has owned the property since 1987, according to Miami-Dade County records.

AVR paid $79 million for a Davie apartment complex in July.

CBRE vice chairman Robert Given and CBRE Hotels senior vice president Christian Charre are leading marketing efforts. They are being assisted by Gerard Yetming from the firm’s Institutional Properties Group and Natalie Castillo and Paul Weimer of CBRE Hotels. — Eric Kalis