Art Deco On Miami Beach

October 26, 2011 by staff 

Art Deco On Miami Beach, MIAMI-In a rare opportunity for redevelopment in the market for hotels in South Beach, the iconic hotel has been listed Traymore. The hotel of 91 rooms was built in 1939.

Jones Lang LaSalle Hotels represented the seller, Capital steep rock. JLL CEO Gregory Rumpel is primarily responsible for the sale.

“This is one of the quintessential deco buildings of South Beach, which in itself is relatively unique,” says Rumpel “He came out of service in the period 2006-2007, is torn, it was through permits and has never been put back together again. This is important for the City of Miami Beach.”

The Traymore is located along the 70 meters-900-square-foot beachfront and waterfront. Currently closed, historic asset unencumbered by brand and management. The building is in shell condition, giving the buyer the opportunity to completely redesign a Miami Beach Art Deco landmarks.

“The board of preservation does not allow entry and facade that flexes too much, but all other plants, except for the openings of the windows are open canvas,” says Rumpel. “This is a great opportunity for international boutique brands to make a mark on the beach.”

The Traymore has received approval from the Historic Preservation Board and has building permits and clears environmental reports received in 2011. Facilities provided include a new swimming pool and terrace, a 2,600 square feet restaurant and lounge, 7,200 square meters spa, three swimming pools on the roof, offices and commercial premises and valet parking.

The call for bids and the bid date is scheduled for Monday, November 7, 2011. Rumpel expected private capital to buy the hotel. He predicts that the sales process is extremely fast, and not “be surprised if a buyer came forward before the end of the process with cash in hand.”

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