Gulfstream Hotel on track to finalize sale

The Gulfstream Hotel and vacant land next to it in finalizing contract

Could be sold to a firm specializing in historic restoration, marking the latest twist in the saga of the downtown Lake Worth Beach property.

After three years of on-again, off-again efforts, Restoration St. Louis is close to finalizing a contract to buy 100% of the membership interest in Gulfstream Owner LLC, an entity awarded rights to restore and expand the shuttered Lake Avenue hotel, said Jeff Perlman, executive vice president of CDS International Holdings, which owns the hotel and the land.

The sale is expected to close in mid-October, said Amrit Gill, president of Restoration St. Louis. Renovation of the historic hotel could begin by Nov. 1, he added.

Palm Beach Post article Click to see the photos through the years.