Miami Beach’s historic Clinton Hotel hit the market with an asking price of $31.5 million.
Located on Washington Avenue at 8th Street, the hotel was originally built in 1934 with architectural design by Charles Neilder. Recently, the hotel underwent a restoration that included the addition of two new stories and more than 5,500 square feet of retail space and upgraded food and beverage facilities.
Douglas Elliman’s commercial division, led in the South Florida market by David Restainer, is marketing the property.
“The Clinton Hotel listing presents a unique opportunity to own a fully renovated hotel with profitable operations that is unencumbered by management contracts,” Restainer said in a press release. “Additionally, this asset has upside when the restaurant and retail are repositioned.” – Christopher Cameron