MIAMI-An investment group based in Argentina has purchased the Berkeley Shore Hotel in Miami Beach.
A broker involved in the deal says the sale came “very close” to the asking price of approximately $13.8 million, according to the Miami Herald.
The new owner plans to renovate and expand the 64-room Art Deco hotel at 1610 Collins Ave.
Buyers Jorge Savloff and Marcelo Tenenbaum already own the Greenview Hotel, Aqua Hotel and Riviere Hotel in Miami Beach. The duo is looking to add 33 more rooms, a rooftop garden, a pool, and underground parking at the Berkeley Shore Hotel. See story in the Miami Herald.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.