JHSF International Acquires Hotel In Miami Beach For $70M
2445 Collins Avenue, Miami Beach, FL 33140
$70,000,000
$843/SF
Building Size
83,000 SF
Asset Type
Hotel
Closing
Aug 27, 2021
About this deal
AI
JHSF International, led by Jose Auriemo Neto, has acquired a hotel property located at 2445 Collins Avenue in Miami Beach. The transaction took place on August 27, 2021, and the property was sold by Como Hotels and Resorts, represented by Steven Grapstein. The sale price for this hotel asset was $70,000,000. The property is situated in a highly desirable location in the Miami Beach market.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $70,000,000
- Buyer: JHSF International - Jose Auriemo Neto
- Seller: Como Hotels and Resorts - Steven Grapstein
- Broker: Susan Gale - Susan Gale Group - One Sotheby's International Realty
This significant acquisition was facilitated by Susan Gale from the Susan Gale Group, who represented both JHSF International and Como Hotels and Resorts in the deal. The hotel asset on 2445 Collins Avenue offers a lucrative investment opportunity in the thriving Miami Beach market.
On the Map
$70,000,000
$843/SF
Hotel
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Miami Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93