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6060 Indian Creek Dr, Miami...

Updated Oct 29, 2024

Bloom Hotels Acquires Property At 6060 Indian Creek Dr For $23.5 Million With Rep Gregory Rumpel
SOLDHotel

Bloom Hotels Acquires Property At 6060 Indian Creek Dr For $23.5 Million With Rep Gregory Rumpel

6060 Indian Creek Dr, Miami Beach, FL 33140, USA

$23,500,000

Building Size

Asset Type

Hotel

Closing

Nov 20, 2023

About this deal

AI

Sixty Sixty Resort, an 82-room hotel located at 6060 Indian Creek Drive, Miami Beach, FL 33140, has been sold for $23.5 million. The property spans a 16-floor building that was constructed as a condo-hotel in 1992. It offers direct ocean access, panoramic views of downtown Miami and Miami Beach, and features amenities such as a 2,000-square-foot dock, a pool, and two rooftop terraces.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $23,500,000.00
  • Location: 6060 Indian Creek Dr, Miami Beach, FL 33140, USA
  • Market: Miami Beach
  • Seller's Representative: Gregory Rumpel-JLL
  • Buyer: Bloom Hotels

Integra Investments and Activate Hospitality partnered in the sale of Sixty Sixty Resort. The previous owners planned renovations for the property in 2020, which included the addition of a ground-floor restaurant and café. The area surrounding the hotel offers a wide range of dining, retail, and entertainment options, including the Bal Harbour shops and Lincoln Road.

Players

Gregory Rumpel

JLL

Broker

$23.5M

vol

1 deal

Broker
BH
Bloom HotelsBuyer

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

0.68%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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