MIAMI—Hotel Eva, a 29-unit luxury boutique resort located at 1506 Collins Avenue in South Beach, sold for $11 million. The sale price is 90% more than its last price six years ago. The 1962-built hotel last sold for $5.8 million in 2008.
Isabel Fine, principal at Coral Gables-based Real Miami Commercial Real Estate represented both the buyer. She also represented the seller in the transaction. Miami-based TotalBank provided a $6.5 million mortgage to the buyer.
Ventura Way LLC, managed by Orlando J. Valdes, sold the hotel to J3 Collins Ave LLC, which is managed by real estate investor James B. Potter. The four-story, 21,832-square-foot property features a Cuban bistro on the first floor.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
