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

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

TRD 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
Faena Hotel Miami Beach and Eau Palm Beach (Faena, Eau Palm Beach)

Faena Hotel, Eau Palm Beach Resort among latest to lay off hundreds

Faena Hotel, Eau Palm Beach Resort among latest to lay off hundreds
Shelborne South Beach

Shelborne South Beach unit owners lose appeal contesting $30M in assessments

Shelborne South Beach unit owners lose appeal contesting $30M in assessments
From left: The Fontainebleau Miami Beach, Shore Club and Clevelander South Beach 

Record-breaking surge in Covid cases spells trouble for South Florida’s hotel market

Record-breaking surge in Covid cases spells trouble for South Florida’s hotel market
Clevelander South Beach

Party’s over: Clevelander South Beach closes after employee tests positive for Covid

Party’s over: Clevelander South Beach closes after employee tests positive for Covid
Lennox Miami Beach

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit
citizenM founder Rattan Chadha, Russell Galbut and a rendering of 1212 Lincoln

CitizenM buys hotel portion of Crescent Heights’ 1212 Lincoln project

CitizenM buys hotel portion of Crescent Heights’ 1212 Lincoln project
1 Hotel South Beach (Credit: Google Maps)

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement
Ziel Feldman and Richard Branson with renderings of the Shore Club (Credit: Getty Images)

The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished

The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished
arrow_forward_ios

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

Loading...