Related Group sells SLS Brickell hotel for $43M

Deal breaks down to about $347K per room

Miami /
Jan.January 02, 2019 11:30 AM

From left: Sam Nazarian, Jorge Pérez, and SLS Brickell rendering (Credit: Matthew Rolston)

The Related Group sold the hotel component of SLS Brickell for $43 million, property records show.

PRH 1300 Hotel LLC and PRH 1300 Shared LLC sold the 124-key hotel at 1300 South Miami Avenue to Brickell Miami LLC, a Delaware company managed by Francois Faber of Fiduciaire Fernand Faber, an accounting and tax firm based in Luxembourg.

The deal breaks down to about $347,000 per room. The buyer also signed a management agreement with SBE.

Jorge Pérez’s Related completed the 55-story building in 2016. Designed by Arquitectonica, the tower also includes 450 condo units and two restaurants, Bazaar Mar by celebrity chef José Andres and Fi’lia by Miami restaurateur Michael Schwartz.

Philippe Starck designed the hotel rooms, and the building also features a mural by Markus Linnenbrink on the exterior and a lobby sculpture by Bernardi Roig. Amenities include a gym, spa, a pool deck on the 10th floor, a private screening room, sky roof and concierge services.

Earlier this year, Related and the Allen Morris Company completed SLS Lux Brickell Hotel & Residences with 450 condo units and 78 hotel rooms at 805 South Miami Avenue.

Related also delivered another SBE-managed condo-hotel, Hyde Midtown Suites & Residences, at 101 Northeast 34th Street in Midtown Miami. It sold the Hyde Midtown hotel to Midtown Hotel Investment LLC, led by Haim Yehezkel, for $21.8 million in April.


Related Articles

arrow_forward_ios
Douglas Elliman’s Jay Parker, Related Group's Jorge Pérez and Fisher island (Google Maps, Getty, Douglas Elliman, Related Group)
VIP only: Related, partners begin sales of Fisher Island condo project
VIP only: Related, partners begin sales of Fisher Island condo project
Focus’ Tim Anderson and the purchased development site at 128 Southwest Seventh Street in Miami’s Brickell neighborhood (Work with Focus, Google Maps)
Focus pays $28M for Brickell apartments development site
Focus pays $28M for Brickell apartments development site
Highgate Capital Management's Mahmood Khimji and Mehdi Khimji with 5981 Okeechobee Boulevard (Highgate Capital Management, La Quinta by Wyndham)
Highgate cashes out of another South Florida La Quinta
Highgate cashes out of another South Florida La Quinta
Amir Korangy, Michael Shvo and Jeff Greene
Michael Shvo and Jeff Greene talk distress, opportunities in office
Michael Shvo and Jeff Greene talk distress, opportunities in office
Carlos Rosso, Bruce Eichner, & Arnaud Karsenti
“Winter doesn’t really come to South Florida”: Developers on economic climate
“Winter doesn’t really come to South Florida”: Developers on economic climate
From left: Hyatt's Mark Hoplamazian and Gencom's Karim Alibhai along with a rendering of the proposed James L. Knight Center, a three-tower development at 400 Southeast Second Avenue (Getty, Hyatt, Gencom)
Miami voters approve James L. Knight Center redevelopment
Miami voters approve James L. Knight Center redevelopment
Related Companies' Stephen Ross and the Deauville Beach Resort (Google Maps, Getty)
Billionaire Ross’ proposal to upzone Deauville site in Miami Beach fails
Billionaire Ross’ proposal to upzone Deauville site in Miami Beach fails
Joe and Avi Nakash and the Hotel Breakwater at 940 Ocean Drive (Google Maps, Getty Maps)
Nakash family hit with $17M judgment tied to South Beach hotel
Nakash family hit with $17M judgment tied to South Beach 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...