Art Deco Berkeley Shore Hotel Sold After Nine Months On the Market

Two Argentina-based investors, Jorge Savloff and Marcelo Tenenbaum acquired the Art Deco Berkeley Shore Hotel in South Beach. The asking price, proclaimed in December 2012, was $13.78 million whilst the sale price was not yet published, only described as “very close” to the above figures.

Argentina-based investors, Jorge Savloff and Marcelo Tenenbaum have announced that they have acquired the Art Deco-style Berkeley Shore Hotel in South Beach. The listed price in December 2012 was $13.78 million, and although the sale price has not yet been disclosed, it has been described as “very close” to the asking price, according to a report in The Real Deal.

In addition to the new acquisition, Savloff and Tenenbaum own several other South Beach hotels, including the Greenview Hotel, Aqua Hotel, Lorraine Hotel, Ocean Reef Hotel, Riviere Hotel and South Beach Hostel, along with several Miami condos.

Majestic Properties Miami agents Roberto Pecchi and Faye Reby were mandated to sell the 1940s-era building.

The three-story, 64-room building, which opened in 1940 and is located at 1610 Collins Ave., was designed by one of Miami’s most well-known Art Deco architects, Albert Anis, who designed some of Miami’s most notable Art Deco hotels in the 1930s and 1940s.

The new licensees plan to add 33 more rooms to Berkeley Shore and then round-out renovations with a swimming pool and roof-top garden. The former owner, Guesch Inc., bought the facility 22 years ago, in 1991, for $840,000, according to the Real Deal report. The latter’s license expires on October 1.

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