A joint venture of AMS Hospitality Group and Black Salmon has purchased Circa 39, a 97-room hotel at 3900 Collins Avenue in Miami Beach.
Miguel Pinto from Apex Capital Realty and Samuel Heskiel and Marilina Apfelbaum from Beachfront Realty’s Commercial Division brokered the deal. Heskiel said the sale price was $26.5 million.
According to Miami-Dade County property records, ThirtyNine Collins LLC purchased the property for $8.1 million in 2008. The LLC’s members include Kent Janzon, Hans-Joachim Krause, Katja Janzon, and Nicola Meyer. The group also owns The Palms Hotel and Spa at 3025 Collins Avenue.
Heskiel said in the smaller hotels, particularly, “the food and beverage components sometimes account for 50 percent of the revenue,” citing Freehand Miami and its Broken Shaker bar and lounge as an example.
Buyers, he said, will “pay good prices for hotels in good areas because they can bank on the revenue of F&B.” In the case of Circa 39, Heskiel said the buyers are “going to revamp the F&B and the outside courtyard in order to make it a destination for other hotels in the north of the Faena District, like Broken Shaker is to the south.”
Circa 39 is the former Copley Plaza Hotel. The three-story Art Deco building was constructed in 1940 and designed by architect Albert Anis.
Photo courtesy Circa 39
Postcard courtesy Florida Memory, State Library and Archives of Florida, circa 1941
Circa 39 Hotel in Miami Beach Sells:
former copley plaza purchased by ams hospitality and black salmon
Eight-story residential tower planned
Compromise on height, shift in building location wins over preservation board