We just closed on a unit at the old Canyon Ranch property.  It is operating as The Carillon Hotel and Spa.  The Carillon Hotel was the original name of the center tower that was built in 1955.  The old neon sign can still be seen on top of this building.  Values in this area are growing.  Miami Beach oceanfront condos are affordable in North Beach.   In November 2014, Z Capital purchased the property for $21M as a result of a ruling in bankruptcy court.  They now are managing the resort as a new joint venture with Adrian Zecha, founder of Ammanresorts and Jonathan Breene, who is the developer and creator of The Setai in South Beach. They will be changing some of the spaces in the hotel and giving it a fresh new look.  They will rebrand later this year and launch a five-star flag under this new joint venture. Since Z Capital’s takeover of the property, units in the building have seen a jump in price.  Unlike the previous Lot Owner, they have exercised their Right of First Refusal on many of the units which have gone under contract. There is still great value for oceanfront units within the three towers of this property. There will always be a market for Miami Beach Oceanfront Condos. As new management begins to implement their vision for the hotel, prices will continue to go up. Many other hotels in Miami Beach are going through renovations like these.  Check out some of the others here: http://miami.curbed.com/tags/carillon-hotel We have studied and tracked this building for months. If you have any questions regarding property values at…

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