The seller is MS Golden Sands Inc., whose principal is from New York, according to Bard Brenner of Miami-based Sam Brenner Inc. Brenner represented the seller in the transaction, working with Coltrane and Mario Borda of Real Estate Transactions.
The hotel, which is currently operating, was built in 1951 and occupies a corner lot with 125 feet of Atlantic Ocean frontage. It contains 105 rooms and five retail units. Zoning allows for high-rise development on the property, but much of the historic building must be preserved. The new owner plans to continue operating the hotel until building permits are approved for the addition of a 17-story condo tower, which is planned for the rear of the site.
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