Tropics Hotel on Miami Beach Sells for $20 Million

Susan Gale with Gale Group International at ONE Sotheby's International Realty represented both sides of the transaction.

The Tropics Hotel on Miami Beach has recently changed ownership. The hotel was sold in a transaction that closed at $20 million. The hotel boasts 70 rooms, making it a sizable property in the area. The seller is Atlantic Management Inc., while the buyer is Bay Area Lodging LLC. 

“The Tropics Hotel stands as a true trophy asset and is one of the most photographed Art Deco hotels in Miami Beach,” Gale says. “This transaction was truly exceptional as it involved a two-part deal where I successfully arranged both the sale and simultaneously orchestrated a multi-million-dollar master lease. It serves as a testament to the health of the hospitality market and the undeniable allure that Miami Beach’s prime properties hold.”

The three-story Art Deco-style hotel was built in 1941 in the heart of the South Beach Art Deco district. Property details include: 

  • A swimming pool
  • The hotel sits on over half an acre of land, conveniently located steps from Lincoln Road and Ocean Drive. 
  • Large lobby and lounge area with elevator, communal kitchen and laundry 
  • Building: 26,264 square feet | Land: 22,200 square feet

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