Finvarb Group Acquires Miami Beach Hotel For $10.1M

The Hotel located at 9650 East Bay Harbor Drive in Miami Beach has been sold in a transaction that closed on 11/05/2021. The buyer, Finvarb Group represented by Ronny Finvarb, acquired the property from BHI Hotel, represented by Samuel Spiritos and Shulman Rogers. The deal was facilitated by the brokers David Cohen and Arthur Porosoff from Compass, as well as David Greenberg from Marcus & Millichap.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $10,075,012
• Address: 9650 East Bay Harbor Drive, Miami Beach
• Market: Miami Beach
• Buyer: Finvarb Group - Ronny Finvarb
• Seller: BHI Hotel - Samuel Spiritos; Shulman Rogers
• Brokers: David Cohen & Arthur Porosoff - Compass; David Greenberg - Marcus & Millichap
• Keys: 46
• Price Per Key: $219,022
• Square Footage: 22,729
• Price Per Square Foot: $443

This transaction marks the successful acquisition of the hotel by the Finvarb Group led by Ronny Finvarb. The property has a total of 46 keys and features a square footage of 22,729, valued at $443 per square foot. The sale price amounts to $10,075,012, with a price per key of $219,022. The deal was orchestrated by brokers David Cohen, Arthur Porosoff, and David Greenberg, representing the buyer and seller respectively.