Ft. Lauderdale Hotel Trades For $24.5 Million

The Il Lugano Hotel & Residences, located at 3333 NE 32nd Avenue in Fort Lauderdale, has been purchased for $24.5 million by Claremont Ft. Lauderdale Suites LLC.
The deal closed on Thursday, August 14, according to a release.
The owner of the hotel is Solic Capital, a liquidating trust, as the original owner declared bankruptcy. Barry Lapides, partner at Berger Singerman, represented the liquidating trustee in the sale.
The boutique hotel was originally built as a condo/hotel, but because of the recession, was not converted to condo units.