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RC Law\u00a0acted as counsel to Greenview Hotel LLC in its sale of the 45-key Greenview Hotel, a boutique hotel located in the Art Deco District of Miami Beach, Florida. The purchaser is an entity tied to investor Steven Oved.<\/p>\r\n
CBRE has arranged the sale of Greenview Hotel, a 45-key boutique hotel located at 1671 Washington Ave. in Miami Beach, Fla. A private investor purchased the property for under $15 million.<\/p>\r\n\r\n\r\n\r\n
Natalie Castillo<\/a>\u00a0and\u00a0Austin LaPoten<\/a>\u00a0with CBRE Hotels represented the seller, Greenview Hotel LLC, in the transaction.<\/p>\r\n\r\n\r\n\r\n \u201cThe Greenview Hotel\u2019s beautiful Art Deco design, great condition and location among world-class developments made it a perfect fit for the buyer, an owner-operator of other Miami Beach hotels looking to expand their portfolio,\u201d said CBRE Senior Vice President Natalie Castillo. \u201cSouth Beach\u2019s high barrier to entry, this sale and the adjacent construction of the Thompson Hotel South Beach underscores the desire for boutique hotels in the submarket.\u201d<\/p>\r\n\r\n\r\n\r\n The historic Greenview Hotel sits in the heart of the Art Deco District of South Beach, located across from the New World Symphony, The Fillmore and the recently expanded Miami Beach Convention Center. Its less than two blocks to the beach and within a block to Lincoln Road, home to more than 800,000 square feet of dining and shopping options, as well as seasonal events during Miami Swim Week, Art Basel and others.<\/p>\r\n\r\n\r\n\r\n Source: https:\/\/www.cbre.com\/press-releases\/sale-of-boutique-hotel-in-miami-beach-arranged-by-cbre-hotels<\/p>\r\n\r\n\r\n The boutique\u00a0Greenview Hotel<\/strong>\u00a0in Miami Beach, Fla., has traded for $15 million. An entity tied to investor\u00a0Steven Oved<\/strong>\u00a0was the buyer of the 45-key hotel at\u00a01671 Washington Avenue<\/strong>, just north of\u00a0Lincoln Road<\/strong>.\u00a0<\/p>\r\n\r\n\r\n\r\n The hotel was built in 1939 in classic Art Deco style, and its facade was restored while it was owned by\u00a0Marcelo Tenenbaum<\/strong>\u00a0of\u00a0Blue Road Development<\/strong>, which purchased the hotel for $1.1 million back in 2010, according to property records.\u00a0SEE ALSO:\u00a0<\/strong>Upper West Side Mixed-Use Property Changes Hands for $120M<\/a><\/p>\r\n\r\n\r\n\r\n Blue Road, led by Tenenbaum and\u00a0Jorge Savloff<\/strong>, listed the property for sale \u2014 for $15 million \u2014 in 2020 along with another hotel it owned, the\u00a0Casa Hotel<\/strong>\u00a0on Washington Avenue,\u00a0The Real Deal<\/em>\u00a0reported<\/a>\u00a0at the time.<\/p>\r\n\r\n\r\n\r\n While the Greenview Hotel has not been sold since 2010, Tenenbaum and Savloff are no longer part of the property\u2019s ownership. Both were removed from the owner entity, Greenview Hotel LLC, in 2021, according to state documents. A recent lawsuit filed in Miami-Dade Circuit Court involving Greenview identifies the principals as real estate broker\u00a0Roberto Camilo Matarraz\u00a0<\/strong>and\u00a0Pedro Miguel Rodriguez<\/strong>, so it\u2019s not entirely clear who controls the property.<\/p>\r\n\r\n\r\n\r\n
\r\n\r\n\r\nPress Release by Commercial Observer – Steven Oved Buys Boutique South Beach Hotel for $15M<\/span><\/h2>\r\n\r\n\r\n\r\n