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
International Inn at 2301 Normandy Isle, Miami Beach (Google Maps)

Miami Beach approves 8-story addition for International Inn

Miami Beach approves 8-story addition for International Inn
Jorge Perez and Jon Paul Perez with Terminal Island (Getty, iStock)

Related gets height increase needed for Terminal Island office project in Miami Beach

Related gets height increase needed for Terminal Island office project in Miami Beach
(Google Maps)

Miami-Dade condo sales and closed dollar volume take a dive at start of year

Miami-Dade condo sales and closed dollar volume take a dive at start of year
An exterior of 1835 West 27th Street, Miami Beach (Douglas Elliman)

Venezuelan oil tycoon sells Sunset Islands waterfront mansion for $17M

Venezuelan oil tycoon sells Sunset Islands waterfront mansion for $17M
 Jeff Blau and One Ocean (Getty)

Related Cos. CEO Jeff Blau sells Miami Beach condo

Related Cos. CEO Jeff Blau sells Miami Beach condo
Roger and Sloan Barnett and Palazzo Della Luna (Getty)

Nutrition guru couple pays $17M for Fisher Island condo

Nutrition guru couple pays $17M for Fisher Island condo
Silvia Coltrane and 7300 Collins Avenue (Corcoran, Google Maps, Manolos)

Silvia Coltrane sells Manolo building near Ocean Terrace project in North Beach

Silvia Coltrane sells Manolo building near Ocean Terrace project in North Beach
Caroline Wozniacki and David Lee and Palazzo Del Sol, Fisher Island (Photos via Getty; The Jills Zeder Group/photography by Lifestyle Production Group)

Caroline Wozniacki and David Lee list Fisher Island condo for $18M

Caroline Wozniacki and David Lee list Fisher Island condo for $18M
arrow_forward_ios

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

Loading...