The property involved in the transaction is a boutique hotel located at 908 Northeast 15th Avenue in Fort Lauderdale. It features 2,060 square feet and has a total of 8 keys. The sale price of the hotel was $1,350,000, which translates to a price per square foot of $655 and a price per key of $168,750. The asset is situated in the Victoria Park neighborhood and is being renovated and rebranded as The Victoria Hotel.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $1,350,000
• Address: 908 Northeast 15th Avenue
• Market: Fort Lauderdale
• Square Footage: 2,060
• Price per Square Foot: $655
• Number of Keys: 8
• Price per Key: $168,750

The deal involved key individuals including the buyers Mike Merryman, Matteo Soldatini, and Niccolo Boscardi, who are part of 908 NE 15th LLC. The seller's representative was Gabriel Shamay from Cushman & Wakefield, while the buyers were represented by Noam Temchin of FM Capital, who secured an attractive acquisition loan from a local bank. The management of the hotel will be handled by Mine Hospitality, a Miami-based hotel management company.