Alden Global Capital Acquires South Beach Hotel For $6M

A hotel located at 1415 Collins Avenue in South Beach has been sold in a transaction overseen by Susan Gale of One Sotheby’s International Realty. The property, previously owned by Miami Real Estate Investment Corp. and represented by Lisa and Pascal Nicolle, was acquired by Alden Global Capital, with Randall Smith acting as the buyer's representative. The sale price of the hotel was $6,000,000.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $6,000,000
• Date: 05/12/2022
• Address: 1415 Collins Avenue
• Market: South Beach
• Buyer: Alden Global Capital - Randall Smith
• Seller: Miami Real Estate Investment Corp. - Lisa & Pascal Nicolle
• Broker: Susan Gale - One Sotheby’s International Realty
• Keys: 17
• Price per Key (PPK): $352,941

This transaction represents a successful deal in the South Beach market. With Susan Gale of One Sotheby’s International Realty acting as the broker, Alden Global Capital, represented by Randall Smith, purchased the hotel from Miami Real Estate Investment Corp, which was represented by Lisa and Pascal Nicolle. The hotel, situated at 1415 Collins Avenue, was sold for a total of $6,000,000, with a price per key of $352,941.