Friday, March 26, 2010

Miami Four Seasons Hotel Sold for $30M

BY DOUGLAS HANKS
dhanks@MiamiHerald.com

Downtown Miami's Four Seasons hotel has sold for $30 million, according to a new report.

Condo Vultures, a brokerage that focuses on distressed sales, reports that a New York group bought the hotel component of the 70-story high-rise on Brickell Avenue, which also includes condominiums, office space and a spa. The deal apparently was for the hotel portion alone.

The 221-unit hotel portion was valued at $85 million in tax records, Condo Vultures said.

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