AB Asset Management Acquires Hotel In Coconut Grove For $31M

The sale of a hotel located at 2835 Tigertail Avenue in Coconut Grove has been completed. The property, spanning 2 acres, was sold for a total price of $31,000,000. The transaction involved a total of 140 units, resulting in a per unit price of $221,429. The buyer of the hotel is AB Asset Management, represented by Getzy Fellig and Sam Zalmanov. The seller of the property is Hersha Hospitality Trust, represented by Jay Shah.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $31,000,000
• Units: 140
• Price Per Unit: $221,429
• Acres: 2

The transaction was facilitated by a team of brokers from Avison Young's J. The team included John K. Crotty, Michael T. Fay, David Duckworth, Brian C. de la Fé, Emily Brais, and Berkley Bloodworth. Their expertise and efforts contributed to the successful completion of the sale.