Jayesh Patel Of CN Hotels Acquires Holiday Inn Miami-Doral From Daniel Neidich For $24M

The property asset involved in this transaction is the Holiday Inn Miami-Doral located at 3255 Northwest 87th Avenue in Doral. The hotel consists of 216 rooms and spans 120,080 square feet on a 3.4-acre lot, and it sold for $24,000,000. The property is part of a market experiencing pressures due to post-pandemic tourism recovery and rising interest rates.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $24,000,000
• Buyer: Jayesh Patel
• Buyer’s Company: CN Hotels
• Seller: Daniel Neidich
• Seller’s Company: Dune Real Estate Partners
• Lender: Intercredit Bank
• Keys: 216
• Price Per Key: $111,111
• Total Square Feet: 120,080
• Price Per Square Foot: $200
• Sale Date: 12/17/2025

This transaction involved the buyer, Jayesh Patel, representing the interests of CN Hotels in acquiring the hotel property from seller Daniel Neidich, who is affiliated with Dune Real Estate Partners. The deal was financed with a mortgage amount of $17.48 million from Intercredit Bank, reflecting the current market conditions and the asset's transition from its previous sale price of $32.22 million in 2019.