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MIAMI-The 39-room Ocean Terrace Motel at 7410 Ocean Terrace has been sold to hotel investor Megapolis Corp. for $3 million.

The low-rise motel was built in 1951 and is located on a lot with 50 feet of frontage overlooking the Atlantic Ocean. The sellers were Ivan and Ollie Strawderman, who operated Curry’s restaurant on Collins Avenue behind the motel for many years before selling the property in 2003. Bard Brenner, of locally based Sam Brenner Inc., and Hernan Castellanos, of locally based Urban Group Realty Corp., were the brokers involved in the transaction.

Brenner tells GlobeSt.com that the sellers were elderly and it was time to sell the property. The buyer plans to continue operating the property as a motel. “The buyer had previously purchased a property down the street and he was looking to add to his portfolio,” Brenner says.

Ocean Terrace is a two-block street in North Beach similar to Ocean Drive in South Beach with properties on the west side of the street and beach on the east side. He says North Beach has seen much activity in recent years. “There have been a number of sales in that area.”

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