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Henley USA Acquires Hotel On Park Ave From Encotel LLC In Miami Beach

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SOLD
$20,000,000

Florida

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Hotel26,000 SF
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Henley USA Acquires Hotel On Park Ave From Encotel LLC In Miami Beach

2216 Park Ave, Miami Beach, FL, 33139

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Hotel26,000 SF
Sold
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Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$769
Total Square Footage:26,000 SF
Transaction Type:Sale

The Eurostars Vintro Hotel, located at 2216 Park Ave in Miami Beach, FL, was sold by Encotel LLC to Henley USA for $20,000,000. This boutique hotel, built in 1934, offers 50 rooms along with amenities such as a restaurant, bar, rooftop lounge, and plunge pool. Situated in the Collins Park neighborhood, it spans approximately 26,000 square feet and was purchased at a rate of about $400,000 per key.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $20,000,000.00
  • Address: 2216 Park Ave, Miami Beach, FL, 33139
  • Market: Miami Beach
  • Size: 26000 SF
  • Buyer: Henley USA
  • Seller: Encotel LLC
  • Buyer's Rep: Susan Gale(Sotheby's International Realty)

Susan Gale of Sotheby's International Realty represented both the buyer, Henley USA, the U.S. arm of the United Kingdom-based private equity firm Henley, and the seller, Encotel LLC, led by Enrique Colmenares. The off-market deal was completed without disclosing the buyer's identity, noted by One Sotheby’s International Realty. The property, previously traded at $3.5 million in 2011, is centrally located near the Miami Beach Convention Center and the Bass Museum of Art.

Players

Susan Gale
9 deals$208.4M volume
BROKER

Details

SOLD
IMAGE: 08/29/2018 ADDRESS: 2216 Park Ave, Miami Beach, FL, 33139 MARKET: Miami Beach ASSET TYPE: Hotel BUYER'S REP: Susan Gale(Sotheby's International Realty) BUYER: Henley USA SELLER: Encotel LLC PRICE: $20,000,000.00 SF: 26000

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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