Kastrati Group Acquires Hotel On South Miami Ave For $55M

The property involved in this transaction is a hotel located at 1300 South Miami Avenue in Miami. It was sold for a price of $55,000,000. The hotel has a total square footage of 120,000, with a price per square foot of $458. The lot size is 49,998 square feet, with a price per square foot of $1,100. The hotel has 124 keys, resulting in a price per key of $443,548.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $55,000,000
• Square Footage: 120,000
• Price per Square Foot: $458
• Lot Size: 49,998 square feet
• Price per Square Foot (Lot): $1,100
• Number of Keys: 124
• Price per Key: $443,548

The buyer of the hotel is the Kastrati Group, while the seller is Constellation Hotels Holding LTD - Al Thani Royal Family Of Qatar. The representatives for both the buyer and seller are Jordan Karp - Jordan Karp LLC. The buyer's representative is Stefano Santoro - Disruptive Real Estate.