Marlin Hotel in South Beach back on the market: $22M

Miami /
Jun.June 17, 2016 12:46 PM

The Marlin Hotel, a historic Art Deco property in South Beach, is back on the market about a year after it sold to a Miami Beach developer.

An affiliate of MRK Investments, led by Michael and Richard Krieger, paid $9.5 million for the then 14-room hotel at 1200 Collins Avenue in April 2015. Following a multimillion-dollar renovation and expansion, it’s now on the market for $21.9 million.

The three-story, Art Deco hotel was built in 1939 and has roots in the music industry. It was the first hotel owned by Chris Blackwell, who founded Island Records — the label that signed Bob Marley. As South Beach Studios, it hosted Aerosmith, Jay Z and Pharrell Williams and other artists.

Jason Zarco of EWM, a Christie’s affiliate, is listing the property, which was designed by Miami Beach architect L. Murray Dixon. The previous owner renovated the property, as well as MRK, improving the guest rooms and suites, the lobby, restaurant and common areas, and adding 19 rooms and suites. The 33 rooms range from 240 to 500 square feet.

MRK also opened a new restaurant concept, Bazí. The developer/investor scored an $8.4 million loan in November for the renovation and expansion. It will reopen on July 1, Zarco told The Real Deal.

Zarco said the turnkey boutique hotel is perfect for someone who wants to expand their portfolio and enter the South Beach market. “There’s really not a product like this out there right now,” he said.

A portfolio of retail buildings on Collins and Washington avenues recently hit the market unpriced. The buildings, which include the Art Deco Victoria’s Secret store, are being marketing together and separately.


Related Articles

arrow_forward_ios
The hotel was built in 1940, with an addition constructed in 1958. (Shelborne)
Owners of historic Shelborne hotel in South Beach seek approval for renovation
Owners of historic Shelborne hotel in South Beach seek approval for renovation
Greg Mirmelli with 800 Collins Avenue (Google Maps)
Miami Beach investor to convert former Banana Republic store into mansion hotel
Miami Beach investor to convert former Banana Republic store into mansion hotel
Vlad Doronin, Len Blavatnik and a rendering of Aman Miami Beach (Getty)
Aman Miami Beach secures another approval tied to luxury hotel and condo project
Aman Miami Beach secures another approval tied to luxury hotel and condo project
Len Blavatnik, Vlad Doronin and renderings of the project. (Getty, Aman)
Aman Miami Beach developer secures approval from historic board
Aman Miami Beach developer secures approval from historic board
Valerio Spinaci and 1506 Collins Avenue (Google Maps)
Casa Hotels buys boutique South Beach hotel for $8M
Casa Hotels buys boutique South Beach hotel for $8M
1420 Collins Avenue
Casa Hotels adds to South Florida portfolio with boutique Miami Beach hotel
Casa Hotels adds to South Florida portfolio with boutique Miami Beach hotel
Thor Equities CEO Joseph J. Sitt and a rendering of 852 Collins Avenue (Credit: Thor Equities)
Mazel Tov! Kosher restaurateur buys South Beach commercial property
Mazel Tov! Kosher restaurateur buys South Beach commercial property
Chetrit shuts down oceanfront Miami Beach hotel for major renovation
Chetrit shuts down oceanfront Miami Beach hotel for major renovation
Chetrit shuts down oceanfront Miami Beach hotel for major renovation
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...