Historic Clinton Hotel asks $31.5M

The Clinton Hotel on South Beach
The Clinton Hotel on South Beach

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.

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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