Bahia Cabana Beach Resort in Fort Lauderdale sold for $17.27 millionAugust 8, 2018
Hotel News: Bahia Cabana Beach Resort in Fort Lauderdale just sold for $17.27 million, after years of trying to expand and redevelop the hotel and marina complex.
Riviera Resort Club Developers, led by Bryan Cohen and Roni Amid, sold the 70-key hotel to a Bahamian company, 3001-18 Harbor Drive LLC, for about $247,000 per room, according to property records show.
The 1.8-acre property at 3001 Harbor Drive faces the Intracoastal Waterway and is across the street from the beach. It closed in October due to “extensive damage” from Hurricane Irma and has not reopened.
Before that, the seller had big plans for the site, which included building a hotel, restaurant and pedestrian pathways. Riviera Resort Club Developers also offered to build a new fire station for the city at another location in exchange for the current fire station’s land, but the city of Fort Lauderdale rejected that proposal in 2016.
The hotel was completed in 1957.
Article Source : The Real Deal South Florida
Photo Credit: The Real Deal South Florida