Historic South Beach apartment and hotel building changes hands

Marcus & Millichap announces sale of the Sadigo Court South Beach building
  • Sadigo Court boutique hotel and apartment building was sold for $12.975 million, represented by Marcus & Millichap on both sides.
  • The building features 30 units on an 18,750-square-foot lot in South Beach.
  • The building was originally constructed in 1936 and has been in operation ever since.

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Tucked away in the Collins Park neighborhood of the South Beach Historic District sits Sadigo Court, a historic apartment and hotel complex. The historic boutique apartment hotel, located at 334 20th St., has been in business since 1936 and is one of the oldest surviving suite hotels in Miami Beach. On May 6, commercial real estate investment firm Marcus & Millichap announced the sale of the property for $12.975 million. The 30-unit building was purchased by a private investor represented by Joseph P. Thomas, vice president investments and director of the national multi housing group, who also represented the seller. According to the Real Deal, the Blue Road development company made the purchase, and it's one the buyer is already familiar with in the Miami Beach area. Blue Road was responsible for the renovations of Waldorf and Berkeley hotels in South Beach. “There’s tremendous demand for product in the Collins Park submarket given the renovations planned for t...