BHI Miami Limited Acquires Hotel In Miami Beach For $120M

The Ophir Sternberg & Jeffrey Dagowitz hotel located at 100 21st Street in Miami Beach has been sold for a staggering $120,000,000. The property, which spans 53,578 square feet, consists of 172 keys and has a price per key (PPK) of $698,000. The price per square foot (PPSF) is $2,239, making it a highly valuable asset in the market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $120,000,000
• Address: 100 21st Street, Miami Beach
• Keys: 172
• Price per Key (PPK): $698,000
• Square Footage (SF): 53,578
• Price per Square Foot (PPSF): $2,239

The buyer of the property is BHI Miami Limited represented by Nabil Kobeissi. On the other hand, the seller is JHG Holdings Miami Owner LLC, with Ophir Sternberg from Lionheart Capital and Jeffrey Dagowitz from Actium Development Co acting as the seller's representatives in the deal.