Tag Archives: Hotels in Brickell

SLS Brickell Hotel

Strategic Real Estate Moves by Qatar’s Royal Family in Miami’s Financial District

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SLS Brickell Hotel

In a significant real estate transaction that has captured the attention of the global financial community, members of Qatar’s esteemed royal family, the Al Thanis, have divested their interests in the SLS Brickell hotel, located in the heart of Miami’s bustling financial district. The property, which stands as a testament to luxury and opulence, was acquired for a sum of $55 million by the Kastrati Group, a conglomerate with Albanian roots.

The SLS Brickell, an architectural marvel situated at 1300 South Miami Avenue, encompasses 124 rooms, translating to a valuation of approximately $444,000 per room. The transaction was facilitated by Miami’s renowned broker, Jordan Karp, who represented both the Al Thanis and the Kastrati Group. Stefano Santoro, a notable figure in the disruptive real estate sector, played a pivotal role in assisting Karp from the buyer’s side. However, the brokers have maintained discretion regarding the intricate details of the buyer’s identity.

This acquisition is particularly noteworthy as it marks the Kastrati Group’s inaugural venture into the U.S. real estate market. Under the leadership of Shefqet Kastrati, the conglomerate boasts a diverse portfolio, spanning sectors such as oil, insurance, construction, and infrastructure.

The SLS Brickell’s history is as intriguing as its architecture. In 2018, an affiliate of the Al Thanis procured the hotel for $43 million from its original developer, the Coconut Grove-based Related Group. The hotel, a 54-story mixed-use edifice, was conceived by the visionary French architect Philippe Starck in collaboration with Miami’s own Arquitectonica. Its offerings include a sprawling 58,000 square feet of event space, gourmet restaurants, upscale bars, a rooftop pool terrace, and grand ballrooms. The management of the hotel is under the aegis of Accor Hotels, a global leader in the hospitality sector.

The real estate landscape of Miami continues to evolve, with the Al Thanis recently divesting an SLS Brickell restaurant space, which was acquired by Robert Rivani’s Black Lion Investment Group for $10 million. Furthermore, the Related Group, in partnership with the Allen Morris Company, has also developed the nearby SLS Lux Brickell Hotel & Residences.

In a broader context, the Miami real estate market has witnessed several noteworthy transactions. Michigan-based hoteliers Malik Abdulnoor and Sahir Malki recently invested $21 million in the Hampton Inn Fort Lauderdale/Plantation. Additionally, the Nakash family from New York, in collaboration with Michael Palmer, acquired the Beacon South Beach Hotel in Miami Beach for $23.5 million.

For hedge fund managers and investors, these transactions underscore the vitality and potential of the Miami real estate market, offering lucrative opportunities for those with a keen eye for value and growth.

CitizenM Brickell Hotel

CitizenM Hotel in Brickell Officially Opens

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CitizenM Brickell Hotel
Photo Credit: Skyalign

On Monday, CitizenM, a hotel chain with headquarters in the Netherlands, formally unveiled CitizenM Brickell in Miami, its newest hotel, and its official opening to the public!

The 252 rooms spread over the hotel’s 20 stories with each room identical in size and design, with king beds, wall-to-wall windows, free WiFi, and streaming TVs. As a result of an Open Art Call that CitizenM held earlier this year with 70 different artists, the rooms include artwork from ten different artists, both local and international.

The hotel’s unconventional living room-style lobby welcomes visitors with furniture from Swiss designers Vitra, which is meant to evoke the feeling of being at home. Eight SocietyM meeting rooms with break-out areas are located on the third floor.

The hotel provides CanteenM, one of the brand’s hallmark eateries, which is open 24 hours a day in the lobby and serves food and beverages. The hotel also provides two terraces for guests to use, one facing S. Miami Avenue and the other facing one of the greenest gardens in the city.

Robin Chadha, CMO of CitizenM states, “We’re thrilled to be opening the first of two citizenM hotels planned in Miami this year. With Jen Stark’s striking facade artwork and the interior curated with a selection of works from artists celebrating Miami’s diverse and vivacious spirit, we are excited to be able to provide guests with an unparalleled and culturally robust experience, making this property a landmark in Miami’s Brickell neighborhood.”

The former Perricone’s building on the land started to be demolished in April 2019, and immediately after that, foundation work for the new hotel tower started.

The tower itself was designed by Concrete, a company based in Amsterdam with Gensler as the executive architect. The ground floor restaurant will feature a Negroni restaurant.

This year, CitizenM, which describes itself as an “upscale hotel” company, will eventually open another hotel in Miami at the Miami Worldcenter in late 2022. The hotel chain currently operates 27 properties across 17 locations, including London, Amsterdam, Paris, Geneva, New York, Boston, San Francisco, Taipei, and Kuala Lumpur.