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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.

| SFBW Staff

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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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.