MIAMI-In a rare redevelopment opportunity in South Beach’s hotel market, the iconic Traymore Hotel has listed. The 91-room hotel was built in 1939.
Jones Lang LaSalle Hotels represented the seller, Steep Rock Capital. JLL managing director Gregory Rumpel is leading the charge on the sale.
“This is one of those quintessential deco buildings on South Beach, which in and of itself is relatively unique,” Rumpel tells GlobeSt.com. “It came out of service in 2006-2007, got torn apart, went through permitting and has never been put back together again. This is important for the City of Miami Beach.”
The Traymore sits along 70 feet of beachfront and 900-square-feet of water frontage. Currently closed, the historical asset is unencumbered by brand and management. The building is in shell condition, giving the buyer an opportunity to completely redesign one of Miami Beach’s Art Deco landmarks.
“The preservation board won’t allow the lobby and fa
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
