HISTORIC BATH CLUB IN MIAMI BEACH BROUGHT TO MARKET – FEATURED ON CREXI
The Historic Bath Club, located at 5937 Collins Avenue in Miami Beach, Florida, has hit the market and is featured on CREXi (Click Here).
The Bath Club (“the Property”) which resides on over 5 acres of oceanfront land, has been brought to market by Gerard Yetming – Executive Vice President at the Urban Core Division of Colliers International, and Irving Padron – Managing Broker and President of Engel & Volkers Miami.
The Bath Club, originally built in 1927 with a long heyday as a famous social club, underwent a partial development in 2006 with the construction of 118 luxury condominium residences. Currently the Property is mainly used as an event venue. However, in April of 2017 legacy memberships will expire allowing new owner to reset pricing or expand on the use with potential sources of income including: club membership plans, restaurant or lounge operations, cabana sales, and private event usage. It boasts 538 feet of beach frontage and over 15,000 square feet of historic buildings.
With the activity of South Beach trending north to Mid-Beach in recent years – evidenced by the success of the Fontainebleau, Eden Roc, Faena, and the Edition – the Bath Club is a once-in-a-lifetime opportunity to acquire a unique and historic oceanfront property in one of the hottest markets in the world. The property is unpriced, but press reports have indicated that the asset may fetch $25MM or above. “This is a truly special asset. We already have tremendous international interest reflecting the global appeal of this trophy property.” notes listing broker Gerard Yetming.