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Joe Lubeck Of American Landmark Apartments Purchases Hotel In Palm Beach Gardens For $40M

Property Image
SOLD
$40,000,000
Joe Lubeck
Stephen Zsigray

Florida

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Hotel249,127 SF
Sold 04/09/2026
the dealplayerscompscontact
Property Image
SOLD

Joe Lubeck Of American Landmark Apartments Purchases Hotel In Palm Beach Gardens For $40M

4350 Pga Boulevard

See Similar Deals
Hotel249,127 SF
Sold 04/09/2026
Joe Lubeck
Stephen Zsigray
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$160
Total Square Footage:249,127 SF
Transaction Type:Sale

The asset involved in the transaction is a hotel property located at 4350 Pga Boulevard in Palm Beach Gardens. The sale price for this 160-room hotel was $40,000,000. The property spans 3.2 acres with a total square footage of 249,127. It features 8,500 square feet of meeting space, a pool, and a fitness center.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $40,000,000
  • Buyer: Joe Lubeck - American Landmark Apartments
  • Seller: Stephen Zsigray - Ashford Hospitality Trust
  • Keys: 160
  • PPK: $250,000
  • PPSF: $161

Joe Lubeck, alongside unnamed partners, made this acquisition, marking his first purchase of the Embassy Suites by Hilton Palm Beach Gardens. This transaction enhances American Landmark's presence in the Sun Belt hospitality market.

Players

Joe Lubeck
American Landmark Apartments
Joe Lubeck
11 deals$563M volume
BUYER
Stephen Zsigray
Ashford Hospitality Trust
Stephen Zsigray
9 deals$544.1M volume
SELLER

Details

SOLD
IMAGE: Stephen Zsigray & Joe Lubeck DATE: 04/09/2026 ADDRESS: 4350 Pga Boulevard MARKET: Palm Beach Gardens ASSET TYPE: Hotel ~ ACRES: 3.2 BUYER: Joe Lubeck - American Landmark Apartments (@AmericanLandmarkApartments) SELLER: Stephen Zsigray - Ashford Hospitality Trust SALE PRICE: $40,000,000 KEYS: 160 ~ PPK: $250,000 SF: 249,127 ~ PPSF: $161 NOTE: Joe Lubeck, with unnamed partners, purchased the 160-room Embassy Suites by Hilton Palm Beach Gardens PGA Boulevard for $40 million from Ashford Hospitality Trust.The 249,127-square-foot property on 3.2 acres includes 8,500 square feet of meeting space, a pool, and fitness center, marking Lubeck’s first acquisition of this hotel and expanding American Landmark’s Sun Belt hospitality holdings.

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Deal Type
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Net Operating Income (NOI)

$2,133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$142,111.56
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