Vincenzo Odoguardi pays $5.15M for historic hotel in South Beach

The two-story Villa Italia sold for about $783 psf

Miami /
Jun.June 05, 2017 05:30 PM

UPDATED July 5, 4:20 p.m.: Vincenzo Odoguardi just paid $5.15 million for an Italian boutique hotel in South Beach.

Villa Italia at 354 Washington Avenue in Miami Beach spans about 6,566 square feet and comes with 13 units. Rates can rang from $140 to $260 a night, according to Expedia.

Esprit Sobe LLC, led by Paul Benichou, sold the hotel for about $783 per square foot. Records show Benichou purchased the hotel for $3.8 million, or $578 per square foot, in 2015.

The tiny sliver of Italy in Miami Beach’s Art Deco District was built in 1926, according to its website. Around the same time, other numerous small hotels were being built along lower Collins Avenue and Ocean Drive.

Vila Italia comes with custom-built Italian furniture, and a 1,560-square-foot private villa with two bedrooms, two bathrooms, a full kitchen and a private terrace.

It’s deemed a historic hotel by Miami Beach’s Historic Preservation Board. Villa Italia, in the South-of-Fifth neighborhood, was known as Harmon Villa until 2011. It had interior renovations in 2010 by Luigi Vitalini, an Italian-born architect.

Nearby, aging storefronts in the Art Deco District are being restored at 915, 947 and 955 Washington Avenue to make way for the Moxy South Beach, a new large scale development. Miami Beach’s Historic Preservation Board approved the development in December.

Correction: Previous version of this article misrepresented Vincenzo Odoguardi’s professional roles.


Related Articles

arrow_forward_ios
Ari Pearl, Jonathan Leifer and 9540 West Bay Harbor Drive. (Wyndam Hotels, PPG Development, L3C Capital Partners)
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
From left: Tom Brady and Gisele Bündchen; Pharrell Williams; Sylvester Stallone and Jennifer Flavin; Jared Kushner and Ivanka Trump (Getty, iStock)
South Florida’s biggest real estate stories of 2020
South Florida’s biggest real estate stories of 2020
Shelborne South Beach and Seagull Hotel (Shelborne, Google Maps)
Here are South Florida’s biggest hotel sales in 2020
Here are South Florida’s biggest hotel sales in 2020
The Gale Hotel with Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Francisco Martinez Miyashiki (forefront) and Francisco Martinez Celeiro with 16805 Northwest 12th Avenue (Linkedin, Wikipedia Commons, Google Maps)
Former actor sells Miami Gardens hotel for $6M
Former actor sells Miami Gardens hotel for $6M
Paul Lardi and 200-212 Collins Avenue (Linkedin, Alex Zylberglait/Marcus & Millichap)
South Beach property sells for $6M, buyer plans apartment-hotel
South Beach property sells for $6M, buyer plans apartment-hotel
Diego Colmenero and Charlie Porchetto from Urbanica plan to break ground on Edgewater hotel (Urbanica)
Urbanica completes $9M assemblage for Edgewater hotel
Urbanica completes $9M assemblage for Edgewater hotel
Rendering of the project
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
arrow_forward_ios

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

Loading...