South Street Buys Miami Oceanfront Hotel
Noble House Resorts manages the property.
South Street Partners has acquired Solé Miami, a 249-key full-service condominium hotel in Sunny Isles Beach, Fla. Mast Capital sold the property for a price ranging from $20 million to $25 million, according to The Real Deal. A Berkadia team represented the seller, which had purchased the asset for $4.9 million in 2021.
Noble House Resorts manages and operates the oceanfront hotel. The buyer plans to upgrade the property’s amenities and guestrooms.
Solé Miami rises 24 stories at 17315 Collins Ave. within the 2-mile Sunny Isles Beach, a popular destination for tourists and locals. The building is minutes away from Newport Fishing Pier, the only public fishing pier in Miami-Dade County. Downtown Miami and the city’s international airport are within 21 miles.
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Designed by Kobi Karp Architecture & Interior Design and developed by Feeley Group, the hotel initially debuted in 2007 as Solé on the Ocean. Noble House Hotels & Resort became its manager in 2017. The property was previously renovated in 2019, with upgrades aimed at guestrooms and public spaces.
The building includes one- and two-bedroom units. Amenities feature four outdoor and five indoor meeting venues, a fitness center with sauna, four food and beverage outlets on-site, a market, a restaurant, an oceanfront swimming pool and its private beach with umbrellas and private services, among others.
South Street Partners’ purchase of Solé Miami builds upon its existing hospitality portfolio totaling 2,800 keys in high-growth Southeastern markets. Since its founding in 2009, the company has deployed over $1.7 billion of equity across resort, residential and commercial assets and has more than $3 billion in properties under management.
Berkadia Senior Managing Director Christian Charre and Managing Director Paul Weimer negotiated on behalf of Mast Capital.
Miami hospitality sector shows resilience
Since the start of 2026, the country’s hospitality sector returned to growth, according to a report from Cushman & Wakefield. Transaction activity rebounded sharply as hotel sales volume reached $9.4 billion at the end of the first quarter, marking a 64 percent increase over the past 12 months.
Miami’s hotels had a 83.6 percent occupancy rate in the first three months of the year, up 1.1 percent from the same period of 2025. The market’s hospitality sector remains resilient, currently capitalizing on major events, including local ones such as Miami Open and Calle Ocho, as well as the upcoming 2026 FIFA World Cup.
Elsewhere in the U.S., another host city of the FIFA World Cup witnessed the sale of a 1,073-key full-service hotel. Portman purchased The Westin Peachtree Plaza in downtown Atlanta from Marriott International. The property once was the world’s tallest hospitality tower.
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