Local investor Omar Limon bought 35-key property for $259K per room
Real estate investment firm Hawkins Way Capital sold the Clifton Hotel in South Beach, adding to a slew of recent hospitality sales.
Records show the Los Angeles-based company sold the 35-key, 10,400-square-foot hotel at 1343 Collins Avenue in Miami Beach. The buyer is Jerusalem Group LLC, a Florida entity managed by Omar Limon, Luca Migliore, and Samuel Raccah. Limon is a Miami resident with almost two dozen businesses registered in his name, including the sportswear retailer Just For Sports, according to records.
The sale price of $9 million works out to about $259,000 per room.
Migliore, who is also a broker with the commercial division of Gary Hennes Realtors, represented the buyer. CBRE’s Natalie Castillo represented the seller.
The hotel was built in 1948 and designed by architect Gerard Pitt, who designed a number of Art Deco and Post War Modern Revival Miami Beach buildings in the mid-20th century, according to Gary Hennes Realtors.
Hawkins Way Capital bought the hotel for $8.8 million in 2014, property records show. It was renovated in 2010, and the Miami Beach Preservation Board approved plans for a renovation and expansion of the hotel in 2019, shortly before it was listed for sale.