Miami Beach Hotel Sells in All-Cash Deal
Realtor Susan Gale represented both sides of the transaction
The Loft Hotel, located just one block from Ocean Drive in Miami Beach, sold in an all-cash deal for $6.5 million. The two-story property features 22 rooms and encompasses 8,534 square feet and was built in 1958 and renovated in 2015. Susan Gale closed the deal for the buyer, 952 Collins, LLC and the seller is 952 Collins Avenue, LLC. The new owner plans to renovate the property and rebrand it into short-term rentals.