A 100-room Holiday Inn in Miami is headed for the auction block, and due to its zoning designation, it’s expected to draw considerable attention.

The South Florida Business Journal reports the current zoning will allow the winning bidder to replace the current hotel, the Holiday Inn-Port of Miami, with an 82-story tower. The 340 Biscayne site has the potential for 950,000 square feet of sellable space, including 374 condos and 120 hotel rooms. The list price is $175 million.

The hotel, which belongs to debtors BH Downtown Miami LLC and 340 Biscayne Owner LLC, will be auctioned free and clear of liens. The auction will open on Dec. 3.

Concierge Auctions will conduct the auction. An affiliate of One Sotheby’s International Realty serves as the listing agent, working in conjunction with the auction house.

Cirrus Real Estate Funding, the secured lender in the bankruptcy case, will have the right to credit bid up to $70 million at the auction.

Attend Connect Southeast Multifamily on December 4^th in Key Biscayne when the market experts share the playbook for where capital is moving next, and how the region’s power players are positioning themselves to stay ahead of the national curve. Be there to explore the opportunities, challenges, trends, and the future outlook for the multifamily landscape throughout Florida and the Southeast. www.ConnectSEMF2025.com