WRE News: Iconic SLS Brickell Hotel Sells for $55 Million in Off-Market Deal

Miami, FL – October 12, 2023 – In a high-profile off-market transaction, Jay Karp spearheaded the $55 million sale of the iconic SLS Brickell. The 120,000 sq ft Downtown Brickell hotel, along with the sought-after 4,530 sq fr ground floor prime restaurant/retail space, changed hands in this deal, orchestrated by Brickell Miami, LLC, an affiliate of Constellation Hotel Holdings LTD. The SLS Brickell Hotel, developed in 2016 by Related_Group and Dakota Development, stands as a bustling hub in the heart of Brickell, surrounded by high-rise condos, office buildings, retail, and dining establishments. The location of the 124-key hotel and the accompanying restaurant/retail space within a 54-story mixed-use building was acquired by 1300 Brickell Miami, LLC, a Florida-based limited liability company. Jordan Karp represented both the buyer and the seller in this noteworthy transaction.