The Conrad Hotel in the building Brickell Arch has sold for $72 million, according to The Miami Herald and was purchased by Mast Capital.
The Conrad Hotel with 203 guest rooms, is located at 1395 Brickell Avenue and is within the building Brickell Arch, which sold for $142 million in September 2015 to Dallas based Gaedeke Group. The hotel has been listed for sale since July 2015 and was expected to sell for over $100 million at the time.
Originally called Banco Espiritu Santo, the 36 story building was completed in 2004 and designed by Kohn Peterson Fox Associates. The building is known for its 30 story arch on the front façade of the glass.
Mast Capital is planning on renovating the lobby, pool, restaurant and guest rooms.