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NY Investor Bags SoBe in Miami Beach

NY Investor Bags SoBe in Miami Beach

A NYC investor acquired the two-story, 48-room SoBe Hostel at 235 Washington Ave in Miami Beach for over $8M. The property dates from the days of classic Miami Beach hotels; it was originally developed in 1938. The buyer, 235 Sobe Hospitality, is managed by Jack Avid and Steven Oved, reports The Real Deal. Last year, Jack bought the similarly sized and located 45-room Princess Ann Hotel, at 920 Collins Ave, for $10M. [TRD]