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Shane Rolls Acquires Six Miami Beach Properties; 
To Be Rehabilitated As a 200 Room Hotel

 
MIAMI - April 18, 2001-- Jeff Cohen, of Esslinger-Wooten-Maxwell (EWM) Realtors Commercial Division, has brokered the sale of six individual hotel and apartment properties in Miami Beach�s red-hot Cultural Arts District.

The properties are being sold as one package and will be rehabilitated as a unified hotel with more than 200 rooms. The buyer is Shane Rolls, a hotel and residential developer, who has developed properties from Chicago to California. The sale price was $9.5 million.

�This is the most significant and exciting assemblage of hotels yet accomplished in the new cultural center of the Beach,� Cohen said. �The property is within walking distance of Miami City Ballet, the Bass Museum and the soon-to-be-rebuilt Collins Park Library. The Miami Beach Convention Center and Lincoln Road are also just a short walk away.�

The six properties are:

  1. The Adams Hotel, 2030 Park Avenue
  2. The Tyler Hotel, 430 21st Street
  3. The Collins Park Hotel, 2000 Park Avenue
  4. Sun King Apartments, 435-425 20th Street
  5. Lord Charles Apartment Hotel, 450 21st Street
  6. Gamshire Apartment Hotel, 2035 Washington Avenue
Cohen said the buyer would work to restore the special character of the historically significant Art Deco buildings, while incorporating the kinds of modern amenities today�s travelers expect.

�Miami Beach doesn�t look kindly on the destruction of historic property,� he added. �There are plenty of potential buyers out there, but finding a buyer who�s willing to do an historic restoration is not always easy.�

A former member of the Historic Preservation Board and an early proponent of the preservation and redevelopment of South Beach, Cohen has been involved in the sale of many of the area�s most beloved properties, including the Carillon, Caribbean, Essex, Waldorf, Tides, Winterhaven, Greenview, Nash, and Bentley hotels, to name a few.

The new hotel, which has not yet been named, is located in the middle of the Beach�s hottest real estate market.

Cohen, a Miami Beach High School graduate who grew up playing in many of the properties he now sells, has specialized in this market for more than 15 years. He is not shy to admit a lifelong love affair with the Beach�s unique resort atmosphere. �My childhood memories not only give me great passion for the work I do, but also allow me a unique understanding of what these hotels once were and what they can be again.�

Founded in 1964, Esslinger-Wooten-Maxwell, Realtors, a full-service residential and commercial brokerage firm with 600 associates and staff, is one of the largest residential real estate firms in the U.S.  

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Contact:
Esslinger-Wooten-Maxwell, Realtors
www.ewm.com

Also See Historic WinterHaven Hotel, South Beach, Miami, Reopens after $2.5 million Restoration / Feb 2000 
Fontainebleau Owner, Stephen Muss, and Turnberry Associates Building a $200 million 36-story Condominium Hotel - The Tower Residences at the Fontainebleau / March 2001 


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