Brickell Motel Yields Nearly $1 Million Per Year Since Last Sale In 1993

The Starlite Motel in the Brickell area was sold for $20.4 million on Dec. 10.
Rafer Enterprises Inc. sold the motel, located at 128 Southwest Seventh Street, to Optimum USA Brickell 2 LLC, according to public records. The property, which has 60 rooms and two floors, was last sold in 1993 for $700,000.
The buyer of the motel, Optimum USA Brickell 2, has 846 Lincoln Road on Miami Beach as its registered address. Managers Ricardo Tabet and Rodolfo Misitano are the registered agents for Starlite Brickell Management LLC.
Charles Rutenberg Realty’s Jacob Serure and Fabrizio Taccone of Keller Williams Realty brokered the sale. The buyer was represented by Louis Erice and Hernan Aguado of Keller Williams Premiere.
The future site of Brickell City Centre, a mixed-use urban development, is nearby in an area where preconstruction condos range from the $500,000s to $2.7 million.
 
Source: The Real Deal
 

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