Ronny Finvarb plans boutique hotel on Alton Road site in Miami Beach

Finvarb paid $4M for the 10K sf lot

Miami /
Apr.April 12, 2021 06:00 PM
Ronny Finvarb with a rendering of 1790 Alton Road (GEK Architecture)

Ronny Finvarb with a rendering of 1790 Alton Road (GEK Architecture)

UPDATED, April 14, 9:10 a.m.: Miami Beach hotelier Ronny Finvarb closed on the site of a planned boutique hotel on Alton Road.

Finvarb’s Sobe 18 LLC paid $4 million for the 10,200-square-foot property at 1790 Alton Road in Miami Beach, he said. There, he plans to build a 36-key hotel with a restaurant on the ground floor.

Property records show 1790 Alton Holdings LLC sold the lot. The company is led by Nathanael J. Cohen, Yonel Fellous and Athea Steven. The property previously traded for $1.2 million in 2011.

Finvarb said he’ll submit a proposal to the city soon and expects to begin construction next year.

Scott Sandelin and Alejandro D’Alba of Marcus & Millichap’s Sandelin Group represented the seller and buyer.

According to a listing for the property, the site was previously approved for a five-story commercial/retail building with 30 parking spaces and a roughly 8,000-square-foot ground floor commercial space.

Finvarb’s portfolio includes the Kimpton Hotel Palomar South Beach at 1750 Alton Road, where the restaurant Osteria Morini Miami Beach recently opened. It’s across the street from the development site he just purchased. His properties also include the Residence Inn by Marriott South Beach, Thompson South Beach, and Courtyard by Marriott South Beach. The company also owns hotels in Dania Beach; Jupiter; Tallahassee; Melbourne; Texas and Arizona, according to its website.

In March, Finvarb and minority investor Art Restaurants paid $11 million for the JB’s on the Beach oceanfront restaurant site in Deerfield Beach.






    Related Articles

    arrow_forward_ios
    Renderings of the Sunset Harbour project with Marc Rowan and Deco Capital Group's Bradley Colmer (Linkedin, Getty)
    Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
    Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
    Ronny Finvarb and a rendering of the hotel (GEK Architecture)
    Miami Beach residents rally against proposed hotel in Sunset Harbour
    Miami Beach residents rally against proposed hotel in Sunset Harbour
    1260 Washington Avenue and 1234 Washington Avenue with Location Ventures CEO Rishi Kapoor (Google Maps, Location Ventures)
    Location Ventures buys South Beach office, retail property for $20M
    Location Ventures buys South Beach office, retail property for $20M
    Don Peebles, Jorge Perez and Barry Sternlicht with the Clevelander hotel (Getty, iStock)
    Alcohol rollback on Ocean Drive pits developers against business owners
    Alcohol rollback on Ocean Drive pits developers against business owners
    O. Dean Jernigan and 1325 North Venetian Way, Miami Beach (Google Maps)
    Former self-storage CEO sells Venetian Islands home for $18M
    Former self-storage CEO sells Venetian Islands home for $18M
    Jessica Goldman Srebnick with 6686 Roxbury Lane and 4511 Lake Road (Google Maps)
    Jessica Goldman Srebnick trades Miami Beach home for Bay Point mansion
    Jessica Goldman Srebnick trades Miami Beach home for Bay Point mansion
    Joseph Chetrit and a rendering of the Collins Park project (Getty, Kobi Karp)
    Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
    Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
    Fontainebleau Miami Beach, Jeffrey Soffer and former President Donald Trump (Ebyabe/Wikipedia, Getty, iStock)
    Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
    Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
    arrow_forward_ios

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

    Loading...