Scott Robins and his business partner Rory Greenberg are in the final stretch of restoring and redeveloping the Greenbriar Hotel property in Mid-Miami Beach, near the Faena District.
The partnership paid $14.5 million for the majority of the condo units that made up the Greenbriar at 3101 Indian Creek Drive. It was originally built in 1940 as a hotel, and later was converted to a condominium. Centennial Bank provided a $9.6 million loan for construction that will convert to permanent financing, the bank said.
Palisociety, a California-based hotel firm led by Avi Brosh, will manage the 71-key hotel, to be called Palihouse Miami Beach. The hotel firm is also being considered for a separate property in Wynwood, which Robins owns with former Miami Beach mayor Philip Levine. Greenberg is also a partner in that deal.
Robins said the Miami Beach hotel will fill a void in the market where there are high-end hotels like Faena Hotel and 1 Hotel South Beach and lower end properties. The Art Deco property fronting the Intracoastal Waterway is being completely restored and will feature a pool, lobby, bar, and food and beverage inside and outside. The majority of the rooms will have kitchenettes, and the property also includes access to a beach club and waterway boat dock.
“We are [for] the person that wants to be near the beach, hang out, be in a great hotel but doesn’t want to spend $1,000 a night,” Robins said. Rates will be in the $300 to $500 range during the high season, he said.
The project is expected to be completed within three months, and will begin accepting reservations on Aug. 1, according to Palisociety’s website.
Heather Zatik, Centennial’s market president for Broward County, and senior vice president Peyton LaCaria, arranged the financing.
In Wynwood, Robins and Levine are planning a mixed-use development with about 90 hotel rooms and 92 apartments. The developers hired Morris Adjmi Architects, a New York City-based architecture and interior design firm, to design the building. Last year, they sold a retail portfolio in Miami Beach’s Sunset Harbour neighborhood for $68.75 million to Asana Partners.