SLS South Beach, one of tourist mecca’s hippest hotels, has traded hands for more than $125 million.
The deal for the 140-room hotel at 1701 Collins Ave. values the 1940 property, last remodeled in 2012, at a whopping $892,857 per room. That’s more on a per-room basis than the $723,270 that the sovereign wealth fund of Abu Dhabi paid for the newly remodeled, 318-unit Miami Beach Edition at 2901 Collins Ave. in April. It falls short of the $1.03 million per room that Qatar’s largest development company paid for the St. Regis Bal Harbour Resort in January 2014.
