M1 Hospitality sells Peter Miller properties

MIAMI - M1 Hospitality Group, a division of Metro 1 Properties, announced the $14.7 million sale of the famous Peter Miller Hotel at 1900 Collins, Miller Apartments at 229 19th St., and Peter Miller Apartments at 1915 Liberty Ave. All three buildings are in the Historic District of Miami Beach.

The buildings were designed by architect Russell Pancoast between 1934 and 1936. The 24,463sf Peter Miller Hotel consists of 62 rooms, three floors, retail space on the ground floor, a small restaurant in the lobby with additional terrace seating and sits on an 11,433sf of land. The hotel has takes up the entire city block between 19th Street to 20th Street on Collins Avenue.

The 7,656sf building known as Miller Apartments sits on a 12,200sf lot and is a two-story, 12-unit building broken up into two buildings.

The 6,030sf building known as Peter Miller Apartments sits on a 6,850sf lot and is a two-story, 10-12 unit building.

The Peter Miller properties were among about 300 Miami Beach buildings that were leased by the US Army Air Forces Technical Training Command for military use during World War II.

Miami-based Kabo Realty Corp., the owners of the Peter Miller Hotel, brought the hotel deal to Metro 1 Properties as an off-market opportunity.