Main Photo: The Versailles Hotel, in it’s heyday
Date: May 2020
Location: Collins Avenue, Faena District, Miami Beach, South Florida, USA
Name: Aman Miami
No. of Keys: 53
Seller: TBA…The development site is currently home to the gutted Versailles Hotel, which was built in 1940 and designed by architect Roy France. It’s been empty since 2011.
Buyer: Billionaire Len Blavatnik’s Access Industries closed on a loan for the first Aman-branded development in South Florida.
The developer, 3425 Collins LLC, secured US$34.8 million in financing from Bank OZK for the site of the former Versailles Hotel in Miami Beach, property records show.
Blavatnik and fellow billionaire Vlad Doronin plan to build a two-tower hotel and branded condo project at 3425 Collins Avenue, which is part of the Faena District. Doronin’s OKO Group is partnering with Access Industries, and Doronin is also chairman and CEO of Aman, a luxury hotel group based in Singapore.
Developer Alan Faena, who built the Miami Beach neighbourhood with the backing of Blavatnik, cancelled his plans for a condo tower on the site in 2016 after the luxury condo market slowed down. Faena is not involved in the Aman development.
The Faena District, which opened in 2015, includes more than 1 million square feet of mixed-use development.
In Miami’s Edgewater neighbourhood, OKO Group is developing the Missoni Baia condo tower. In Brickell, it is building 830 Brickell, an office tower anchored by WeWork, as well as Una Residences, a 47-story, 135-unit condo tower that just broke ground.
In the U.S., Aman New York is under construction in the Crown Building, and the hotel brand also has locations in Jackson Hole, Wyoming; and in Canyon Point, Utah.
Besides the Faena Hote Miami Beach, Access Industries also own the fab Grand-Hotel du Cap-Ferrat, purchased in 2006, managed by Four Seasons and The Ocean Club on Paradise Island, The Bahamas.
THPT Comment: Aman clearly have set their sights on the USA. Having started life as an Asian brand…they now have 32 locations in 20 countries, predominantly in Asia, with six or so in Europe and now the US. They also launched their new brand Janu recently.
First Seen: The Real Deal
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