A unique investment opportunity has just become available in one of the hottest Miami neighborhoods. Conrad Miami, located at 1395 Brickell Avenue, is a 203-key luxury hotel, packed full of stunning architectural details and lavish amenities, and it could be all yours. Last week, CBRE Hotels, an international service provider focused exclusively on hospitality, announced the sale of the hotel which can be found in the Espirito Santo Plaza in the Brickell neighborhood. The plaza is made up of offices, 103 luxury condos and a retail component, according to a recent article from The Real Deal. The Conrad consists of about 20,000 square feet of meeting space, the Atrio restaurant and the Bar at LvL 25, a spa and gym, two outdoor tennis courts with bay views, and a rooftop pool and whirlpool. In addition, the 36-story office building in the plaza is being marketed for a separate sale, and is related to Banco Espirito’s financial collapse last year.
“Miami’s hospitality market is one of the strongest in the nation, with the average daily lodging rate outpacing cities such as San Francisco and Boston,” said Christian Charre, senior vice president at CBRE Hotels. “In addition to its attributes as a luxury hotel, this singular property’s architectural character and location combine to make it a focal point of one of the world’s most dynamic financial districts–and a once-in-a-lifetime investment opportunity to acquire this trophy asset.”
Located just south of Downtown Miami is the financial district and entertainment hot spot known as Brickell. It is easily one of the fastest growing and most desirable neighborhoods in the area, with a slew of 5 star hotels, thousands of luxury condominiums, and Mary Brickell Village, the 200,000 square-foot retail and entertainment center, drawing thousands to work and play in this community every day. Next year, the popular neighborhood is expected to welcome the Brickell CityCentre, a 5.4 million square-foot urban shopping and mixed-use development, that is sure to keep the community buzzing. The Metromover provides convenient access to the plethora of luxury shops, restaurants, hotels, department stores, office towers, and condominiums in Brickell, making it easy to understand the popularity of this thriving area.
There is currently no listing price for the hotel, but CBRE expects the investment property to sell for more than $100 million.