A historic boutique hotel in Miami Beach has been sold, and it will likely be converted into residences.
Collinaire Luxury Suites, located at 221 Collins Ave., was sold for $8.9 million on Jan. 16. The sale was handled by Susan Gale of Miami Beach-based Gale Group International, an affiliate of Coconut Grove-based One Sotheby’s International Realty.
The 9,160-square-foot property was on the market for four months before the deal closed.
According to the sale announcement, the seller was Collins 221 LLC and the buyer is 2024 221 COLLINS LLC. A warranty deed filed with Miami-Dade Clerk of the Courts confirms the property’s sale and ownership transfer.
The new owner of the eight-suite hotel, 2024 221 Collins LLC, currently has plans to turn the property into a living space for teachers who’ll work at an upcoming elementary school in South of Fifth called BaseCamp 305, according to the Gale Group and Sotheby’s spokesperson.
Miami-Dade Property Appraiser records show 221 Collins Ave. was built in 1922.
Source: SFBJ