WPH Properties LLC Acquires Miami Beach Hotel For $43.8M

1050 Washington Avenue, Miami Beach, FL, USA

$43,800,000

$2,009/SF

Building Size

21,800 SF

Asset Type

Hotel

Closing

Feb 23, 2021

AI

WPH Properties LLC, represented by Jean Simonian, has acquired a hotel located at 1050 Washington Ave in Miami Beach. The property was sold by Ladder Capital for a total of $43,800,000. The transaction took place on February 24, 2021.

Summary of transation details

Property Type: Hotel
Transaction Amount: $43,800,000
Address: 1050 Washington Ave, Miami Beach
Buyer: WPH Properties LLC - Jean Simonian
Seller: Ladder Capital
Brokers: Max Comess, Rudy Reudelhuber & Alexandra Lalos - Hodges Ward Elliott

Max Comess, Rudy Reudelhuber, and Alexandra Lalos from Hodges Ward Elliott represented the buyer, WPH Properties LLC, in this transaction. They played a crucial role in facilitating the deal between the buyer and the seller, Ladder Capital. With a total of 181 keys, the hotel has a price per key of $241,989.

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