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Blue Suede Hospitality Group Acquires Blue Moon Hotel In Miami Beach For $16.63M From Hersha Hospitality

Property Image
SOLD
$16,630,000

Florida

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Hotel28,571 SF
Sold 05/24/2024
the dealdetailscomps
Property Image
SOLD

Blue Suede Hospitality Group Acquires Blue Moon Hotel In Miami Beach For $16.63M From Hersha Hospitality

944 Collins Avenue

See Similar Deals
Hotel28,571 SF
Sold 05/24/2024
the dealdetailscomps

Summary

FLORIDA
Asset Type:Hotel
Price Per Square Foot:$582
Total Square Footage:28,571 SF
Transaction Type:Sale

The Blue Moon Hotel located at 944 Collins Avenue in Miami Beach was recently sold for $16.63 million. This hotel property, spanning 28,571 square feet across three stories, consists of 75 rooms, a pool, and lounge facilities.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $16,630,000
  • Address: 944 Collins Avenue - Blue Moon Hotel
  • Market: Miami Beach
  • Buyer: Kenny Lipschutz - Blue Suede Hospitality Group
  • Seller: Neil H. Shah - Hersha Hospitality
  • Keys: 75
  • Price Per Key: $221,733
  • Square Footage: 28,571
  • Price Per Square Foot: $582

The sale of the Blue Moon Hotel was facilitated between Neil H. Shah of Hersha Hospitality, serving as the seller, and Kenny Lipschutz representing the buyer through Blue Suede Hospitality Group. This transaction involved the transfer of ownership of the hotel property for $16.63 million.

Details

SOLD
IMAGE: Neil H. Shah & Kenny Lipschutz DATE: 05/24/2024 ADDRESS: 944 Collins Avenue - Blue Moon Hotel MARKET: Miami Beach ASSET TYPE: Hotel BUYER: Kenny Lipschutz - Blue Suede Hospitality Group SELLER: Neil H. Shah - Hersha Hospitality SALE PRICE: $16,630,000 KEYS: 75 ~ PPK: $221,733 SF: 28,571 ~ PPSF: $582 NOTE: Hersha Hospitality Trust's subsidiary sold the Blue Moon Hotel in Miami Beach for $16.63 million to 944 Collins Avenue LLC, marking a slight discount from its previous trade. The hotel spans 28,571 square feet in three stories and 75 rooms, a pool and lounge.

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