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Copley Plaza Hotel Sells, Plans Major Renovation

MIAMI BEACH-Copley Partners Inc., which consists of principals and shareholders of Wittek Development LLC, bought the 92-unit hotel here on Collins Avenue from Michael and Pia Simon for $2.51 million, or approximately $27,283 per unit.

By Melissa Bogdany | Updated on March 21, 2003

MIAMI BEACH-Copley Partners Inc., based in Miami, has purchased the Copley Plaza Hotel here from Michael and Pia Simon and plan to give the 92-unit hotel a facelift. The purchase price was $2.51 million, or about $27,283 per unit.

Copley Partners consists of principals and shareholders of Wittek Development LLC, which is based in Stamford, CT.

The new owners would not release specific renovation costs and plans, according to a spokeswoman for the project. However, the owners basically are giving the hotel, located at 3900 Collins Ave., confirm plans for renovation, the spokeswoman tells GlobeSt.com. The various improvements planned include all new wiring in the hotel, and updated interiors, she says. Daniel Stauber, Wittek Development’s chief operating officer, will manage the project.

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