The price equates to $170,370 per room for the hotel at 319 Park Avenue South and $19,828 per seat for the adjoining restaurant at 307 Park Avenue South.
Park Avenue Holdings Ltd. was the seller. G.P. Partnerships of Orlando Inc., headed by James R. Mitchell of Miami, is the general partner of the purchaser.
The hotel and restaurant are patronized by local, national and international visitors and dignitaries. Hotel daily average room rates are $90 to $150. Restaurant prices are $25 to $50. The 130-seat dining room also has semi-private seating for 42 guests and a 60-seat lounge.
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