Anish Khimani Acquires Miami Beach's Tropics Hotel For $20M

Anish Khimani acquired Miami Beach's Tropics Hotel located at 1550 Collins Avenue for $20 million. The three-story Art Deco hotel features 70 rooms and a pool. The transaction took place on 06/29/2023.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $20,000,000
• Address: 1550 Collins Avenue, Miami Beach
• Market: Miami Beach
• Buyer: Anish Khimani
• Seller: Armando J. Opprecht
• Broker: Susan Gale - Gale Group International - ONE Sotheby’s International Realty
• Keys: 70
• Price Per Key (PPK): $285,714

Notable details about the Tropics Hotel acquisition include Anish Khimani's plan to lease the property for short-term rentals.