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**Miami Holiday Inn Hotel Listed for $175M, Set for December Auction**
A 100-room Holiday Inn located in Downtown Miami is slated for auction, drawing significant attention due to its prime location and favorable zoning. The property, known as the Holiday Inn-Port of Miami, presents a rare development opportunity with zoning that allows for a high-density, mixed-use tower.
Located at 340 Biscayne Boulevard, the site is currently listed for $175 million. Developers and investors are particularly interested in the potential to replace the existing hotel with a modern, 82-story tower featuring up to 950,000 square feet of sellable space. The proposed redevelopment could include 374 condominiums and 120 hotel rooms.
Owned by BH Downtown Miami LLC and 340 Biscayne Owner LLC, the hotel is being auctioned free and clear of all liens. The auction will open on December 3 and will be conducted by Concierge Auctions. One Sotheby’s International Realty is partnering with the auction house as the listing agent.
Cirrus Real Estate Funding, the secured lender in the ongoing bankruptcy proceedings, holds the right to submit a credit bid of up to $101.5 million at the auction. With its strategic location and development potential, the property is expected to attract strong interest from major developers and investors across the real estate market.
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