The 1 Hotel South Beach is "being marketed for sale," per the The Real Deal, and could set a record for Miami hotel sales:
When it sells, the trophy property could mark a record for the most expensive hotel deal of all time in Miami. If it sold at $1 million a key, it would beat a record held by the Ritz-Carlton Key Biscayne, which traded hands a year ago for $325 million.
The environmentally friendly luxury hotel has become one of the hottest destinations in South Beach. Situated in a prime location at 23rd Street and Collins Avenue, the 426-room hotel is highlighted by a rooftop pool deck on the 18th floor and a stunning penthouse collection, which we toured here.
It's a busy summer for the hotel market as the Viceroy Miami in Brickell sold last week for $64.5 million, becoming W Miami.