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50-Year-Old Oceanfront Hotel Selling for $127,906 Per Room

MIAMI BEACH-Hotelier Chris Blackwell is asking $5.5 million for the 43-room, art deco-styled Leslie Hotel in South Beach, currently the heart of a new fashion and entertainment district.

By Harold Kelman | Updated on August 17, 2000

Life only gets better for the 50-year-old, 43-room Leslie Hotel in the heart of a new fashion and entertainment hub. The property is on the market at an asking price of $5.5 million or $127,906 per room. By comparison, most medium-priced chain hotel rooms are being built for about $50,000 per room.

Hotelier Chris Blackwell, whose company owns the Leslie at 1244 Ocean Drive, plans to use the sale proceeds to renovate another property, the 126-room Governor Hotel at 435 21st St., near the Miami Beach Convention Center. FKS Realty Group is marketing the Leslie.

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