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Beach Plaza Hotel in Miami Beach Sells for Nearly $27 Million

The historic Beach Plaza Hotel in South Beach was recently sold for $26.5 million. The Keyes Company’s Tony Ulloa, Director of Private Investments, Keyes Commercial Sales and Leasing, brokered the sale of the 77-room hotel with active restaurant and bar licenses. The boutique art deco property was built in 1936.

The property sellers at 1401-1411 Collins Avenue were several investment entities based in Kentucky and New York. The buyer is New York-based Blue Suede Hospitality Group, operating as 1401 Collins Ave. LLC. Ulloa originally sold the Beach Plaza Hotel property to the Kentucky group in 2009. In July 2022, Ulloa listed the group’s property and, four months later, went under contract with Blue Suede Hospitality Group. Ulloa and his team have sold over 30 hotels in Miami Beach and South Florida over the last 20 years.

“It is exciting to continue my successful history with this South Beach hotel with the latest sale of the property,” Ulloa says. “This transaction was possible because of the long-term relationship with the seller, over 20 years’ experience in the South Beach Hospitality market, and full-service brokerage capabilities that set us apart as a firm.”

The buyer owns the adjacent 18-room hotel and plans to create a unique hospitality concept with the combined properties, creating a compound of 95 rooms across four buildings on a half-acre land with frontage on Collins Avenue and 14th Street in South Beach.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.