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Yesterday, I contacted the exclusive broker on the Gulfstream Hotel to confirm or deny the rumors that are spreading throughout the downtown that the Gulfstream has sold. Marcus & Millichap in Ft. Lauderdale has the listing; David Greenberg is the listing agent. Mr. Greenberg said that there is a lot of interest and they are working to bring a buyer to the table but so far, no sale.
It is for sale at $9.5 million, all cash.
65,360 Square Foot, Six Story, 106- Room
Closed/Non-Operating Palm Beach County Hotel Offers
Redevelopment Opportunity for a Variety of Uses
Strategic Location providing Intracoastal Waterway Views
and Excellent Access
and Visibility to Diverse Business Generators
Offered Free and Clear of Management, Existing Debt and Hotel Franchise
Repositioning Opportunity to an Independent Boutique Hotel
or an Internationally Recognized Hotel Flag
West Palm Beach Is A Thriving, High Barrier to Entry Hotel Market, including Numerous Luxury-Class Hotels
Opportunity to Operate a First-Class Restaurant along Pedestrian Friendly Lake Avenue
106 ROOMS
THE GULFSTREAM HOTEL -
REPOSITIONING OPPORTUNITY
1 Lake Avenue
Lake Worth, FL 33460
7 comments:
without much needed parking the Gulfstream will sit empty for many years to come
Interesting ad copy. Note that the property is referred to as a "Palm Beach County Hotel" and that "West Palm Beach Is A Thriving, High Barrier to Entry Hotel Market, including Numerous Luxury-Class Hotels".
No mention of Lake Worth until the address at the bottom. Now why would they not highlght it's actual location?
Palm Beach County Hotel gives it instant name recognition and prestige. Marketing and branding our city is a future goal. Suzanne Mulvehill took a tiny step when she was in Germany recently.
not happy about that variety of uses description. we need A hotel. they could build a parking garage there.
Hummm there is parking a whole lot to the South West of the building Just an FYI. The property also has the lot to the direct West and the historical building behind that lot. The right buyer and this hotel can thrive!
Waters said it was 91' high . . . is that true? At 6 stories?
Height: Assumptions
8 ft above grade
20ft 1st floor
40ft residential floors 8ftX5floors
5 ft 5floors X 1ft between floors
Total 73 ft min.---any of assumptions could be low
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