The site of the low-rise building, which was constructed in the 1950s and now operates as a hotel, has 100 feet fronting the Atlantic Ocean. It is zoned for high-rise development, and the new owner plans to demolish the building and construct a luxury residential condominium.
Bard Brenner of Miami-based Sam Brenner Inc. and Beth Carlson and Jay Carrier of Addison Mizner Realty Inc., which is based in Boca Raton, negotiated the transaction.
The sale of Club One follows by days the sale of another 1950s oceanfront hotel property, Golden Sands, about five miles to the south on Collins Avenue. It, too, will gain a residential condo tower.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
