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JHSF International Acquires Hotel In Miami Beach For $70M

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SOLD
$70,000,000

Florida

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Hotel83,000 SF
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JHSF International Acquires Hotel In Miami Beach For $70M

2445 Collins Avenue, Miami Beach, FL 33140

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Hotel83,000 SF
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Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$843
Total Square Footage:83,000 SF
Transaction Type:Sale

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.

Players

Susan Gale
9 deals$208.4M volume
BROKER

Details

SOLD
IMAGE: Susan Gale DATE: 08/27/2021 ADDRESS: 2445 Collins Avenue MARKET: Miami Beach ASSET TYPE: Hotel BUYER: JHSF International - Jose Auriemo Neto SELLER: Como Hotels and Resorts - Steven Grapstein BROKER: Susan Gale - Susan Gale Group (@SusanGaleGroup) - One Sotheby's International Realty (@Onesir) SALE PRICE: $70,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,733,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$248,695.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$331,835.71
Annual Debt Service$3,982,028.55