MIAMI—The Marlin Hotel, an historic Art Deco property, has traded hands. The hotel, which is home to South Beach Studios, sold for $9.5 million.
Jeffrey Cohen and Luigi Mercurio with EWM Realty International's Miami Beach office spearheaded the hotel transaction on behalf of the seller. Jason Zarco, also with EWM's Miami Beach office, represented the undisclosed buyer.
“The sale is indicative of the continued evolution of Collins Avenue and the area's ability to cater to the affluent consumer,” says Cohen. The Marlin Hotel is located at 1200 Collins Avenue in South Beach.
The Marlin hotel was built in 1939 by renowned Miami Beach architect L. Murray Dixon, the visionary behind the Raleigh Hotel and Hotel Victor, among others. Mercurio says, “Just a block from the sand, the historic and high quality property will be able to offer a true luxury boutique experience to locals and visitors alike.”
A boutique property with music roots, it was the first hotel of producer Chris Blackwell of Island Records and is home to the world famous South Beach Studios, where artists including Bob Marley, Aerosmith, Jay-Z, U2, and Pharrell Williams have produced their music. A noted “home away from home” for many artists, Cher and Prince are also known to have visited.
“This hotel, with its stunning architecture and storied past, is a jewel on the South Beach landscape,” says Zarco. The Marlin Hotel was renovated in 1991 and 2011 and features an elegant entrance and lobby area that combine a lounge, bar and restaurant space.
Updated guestrooms are spacious and offer lounge seating. Presenting “luxury smart home technology,” hotel guests can use an in-room iPad to control conveniences such as temperature, mood lighting, music, drapes, and an Apple TV.
In other Miami Beach hotel news, the historic Park Central Hotel just secured $40 million in construction financing. Park Central Partners, an entity of Optimum Asset Management, will use the money to redevelop the 1939 Art Deco hotel in Miami Beach.
And in February, The Shore Club, a luxury hotel in South Beach, secured $185 million in refinancing. Carlton Group chairman Howard Michaels arranged the deal.
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