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Marcus & Millichap Brokers $13M Sale of ‘Apartment Hotel’ Property in Miami Beach

MIAMI BEACH, FLA. — Marcus & Millichap has brokered the $13 million sale of Sadigo Court South Beach, a historic 30-unit boutique “apartment hotel” building located at 334 20th St. in Miami Beach’s Collins Park neighborhood. Originally built in 1936 about two blocks from the Atlantic Ocean, Sadigo Court features five junior suites with kitchenettes and 25 fully furnished one-bedroom suites with full kitchens. The buyer, a private investor based in Bay Harbor Islands, Fla., has options to renovate and reposition the property as a 50-room hotel, as well as construct a new building on the south side of the property. Joseph Thomas of Marcus & Millichap’s Fort Lauderdale office represented both the buyer and seller, a private investor based in Miami Beach, in the transaction.

Content Partners
‣ Arbor Realty Trust
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‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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