Santiago Rodriguez Acquires Miami Beach Hotel For $8.4M

Located at 220 31st St in Miami Beach, this hotel property was recently sold in a closed transaction for a total price of $8,400,000. The sale took place on July 6, 2022, with the buyer represented by Santiago Rodriguez from Douglas Elliman and the seller represented by Eric Fernandez from SOL/MAR Real Estate. The hotel spans an area of 11,797 square feet, and the price per square foot was $712. The transaction included 52 keys, resulting in a price per key of $161,538.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $8,400,000
• Address: 220 31st St, Miami Beach
• Buyer's Rep: Santiago Rodriguez - Douglas Elliman
• Seller's Rep: Eric Fernandez - SOL/MAR Real Estate
• Square Footage: 11,797
• Price per Square Foot: $712
• Keys: 52
• Price per Key: $161,538

Santiago Rodriguez from Douglas Elliman represented the buyer in this transaction, while Eric Fernandez from SOL/MAR Real Estate represented the seller. This successful sale marks a significant milestone in Miami Beach's real estate market.