Blue Road lists South Beach hotels and Miami River land for $36M

Properties can be sold together or independently

Miami /
Mar.March 02, 2020 08:45 AM
Susan Gale and 1671 Washington Avenue

Susan Gale and 1671 Washington Avenue

Two hotels and a development site in South Beach and the Miami River hit the market for a combined $35.5 million, according to the listing broker.

The properties are all tied to Blue Road, a Bay Harbor Islands-based investment, management and development firm, records show. Susan Gale of One Sotheby’s International Realty is listing the properties, which include the Casa Hotel for $11 million, the Greenview Hotel for $15 million, and the lot at 600 Northwest Seventh Avenue for $9.5 million.

Gale said the hotels and lot can be sold independently or together. Different investors from Argentina own the properties, and they are looking to invest in larger projects, Gale said. Blue Road is the management company for all of them.

Blue Road, led by Jorge Savloff and Marcelo Tenenbaum, recently paid $14.4 million for the Sanctuary Hotel at 1745 James Avenue in Miami Beach.

The Casa Hotel, at 1334 Washington Avenue in Miami Beach, has 32 rooms, and a 50-seat restaurant and bar with a liquor license. The 12,648-square-foot building sits on a 5,865-square-foot lot. It was developed in 1925 and was recently renovated with new elevators, central air conditioning, and new windows and doors, Gale said.

The Greenview, at 1671 Washington Avenue in Miami Beach, is a 45-room, 16,103-square-foot hotel that was built in 1939. The Art Deco property is across the street from the New World Symphony’s New World Center. It sits on a 7,500-square-foot lot. It was renovated last year.

“It’s pretty hard to find two properties priced so well,” Gale said, adding that the sellers are “realistic.”

Washington Avenue is home to new hotel, retail and co-living projects. Among them is Lightstone’s Moxy hotel at 915 Washington Avenue.

The Miami River property, on Northwest Seventh Avenue in Miami, is more than an acre of land with 400 feet on the water. Blue Road planned to build a 240,000-square-foot commercial project with restaurants, boat slips and covered parking, according to the company’s website.

On the other side of the river, less than half a mile away, developer Avra Jain and her partners are planning 555 Riverhouse, a mixed-use project with a hotel, condos and office space.


Related Articles

arrow_forward_ios
Aloft Miami Dadeland hotel at 7600 Southwest 88th Street (Marriot)
Interdevco pays $16M for Aloft Miami Dadeland hotel
Interdevco pays $16M for Aloft Miami Dadeland hotel
The lot where the Champlain Towers South once stood (Getty)
Settlement in Surfside condo collapse now over $1B
Settlement in Surfside condo collapse now over $1B
Sean “P. Diddy” Combs, DJ Khaled, Trippie Redd, Lil Wayne, Rick Ross and Kodak Black (Getty, iStock, Illustration by Shea Monahan for the Real Deal)
South Florida’s rapper resi market is super dope fire
South Florida’s rapper resi market is super dope fire
A photo illustration of the Apogee Residences Miami Beach at 800 South Pointe Drive (Zilbert, iStock)
Closing at Apogee tops Miami-Dade’s weekly condo sales
Closing at Apogee tops Miami-Dade’s weekly condo sales
From left: Miami Beach mayor Dan Gelber, real estate developer Stephen Ross, and the Deauville Beach Resort in Miami Beach (Getty Images, Google Maps, iStock)
Stephen Ross wants to redevelop the Deauville Miami Beach with architect Frank Gehry
Stephen Ross wants to redevelop the Deauville Miami Beach with architect Frank Gehry
Cognito's John Backus and 7960 Biscayne Point Circle (LinkedIn, Zillow)
Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
369 North Hibiscus Drive (Villazzo Realty, iStock) Buddhist, Mansion
Lawyer pays $14M for waterfront Hibiscus Island manse that hosted Tibetan Buddhist masters
Lawyer pays $14M for waterfront Hibiscus Island manse that hosted Tibetan Buddhist masters
From left: Stephen Macricostas and Andre Branch in front of 4535 Nautilus Court (Getty Images, Redfin)
Buyer of Andre Branch’s former Miami Beach house flips it for $7M
Buyer of Andre Branch’s former Miami Beach house flips it for $7M
arrow_forward_ios

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

Loading...