North Miami Beach property approved for hotel development sells for $11.38M

The city has approved the 4.14-acre site on West Dixie Highway for a 10-story hotel with 260 rooms, but the hotel project never advanced to the construction stage

Miami /
Nov.November 10, 2018 01:45 PM

17400 West Dixie Highway in North Miami Beach (Credit: Google and PropertyShark.com)

A vacant property in North Miami Beach approved for hotel development has been sold for $11.38 million.

The buyer paid $2.74 million an acre for the 4.14-acre site at 17400 West Dixie Highway in North Miami Beach, near Greynolds Park.

The city government approved a 10-story, 260-room hotel at the West Dixie Highway site, but the hotel project never advanced to the construction stage.

The seller of the property was Braha Dixie LLC, managed by New York-based Ralph Braha.

Two buyers now share ownership of the 4.14-acre site. Dixie Investments, managed by Avi Dishi and Greg Manocherian in Miami Beach, acquired a two-thirds interest in the site, and New York-based Roe Dixie LLC acquired a one-third interest.

The site last sold in 2006 for $9 million. [South Florida Business Journal]Mike Seemuth


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
Renders of the new development on 1155 Northeast 126th Street (Kivvit)
North Miami CRA approves financing for new workforce housing development
North Miami CRA approves financing for new workforce housing development
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
arrow_forward_ios

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

Loading...