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Miami Brickell Hotel Sells for $55M
The Qatari sellers of the SLS Brickell Hotel made $12 million on the deal. The hotel, part of a mixed-use tower, sold for $55 million. The South Florida Business Journal reports the seller was Qatari royal family member Sheikh Tamim bin Hamad Al Thani. It last traded for $43 million in 2019. The buyer was 1300 Brickell Miami LLC, an affiliate of Albania-based Kastrati Group.
The Constellation-branded 124-room hotel has 120,000 square feet of rooms and 4,530 square feet of ground floor retail/restaurant space at 1300 S. Miami Ave.
The 54-story tower was developed in 2016. The hotel rooms are located on the first nine floors of the tower, with 453 residential condos above them. The building also has 58,000 square feet of indoor event space and a host of amenities, including a pool, fitness center and spa.
- ◦Sale/Acquisition
