Sale of boutique hotel in Miami Beach arranged by CBRE Hotels

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.

Natalie Castillo and Austin LaPoten with CBRE Hotels represented the seller, Greenview Hotel LLC, in the transaction.

“The Greenview Hotel’s 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,” said CBRE Senior Vice President Natalie Castillo. “South Beach’s 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.”

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.