MIAMI, FL - R.J. Finlay & Co. is proud to announce the addition of Riviera Plaza Apartments, for decades an architectural landmark and Mediterranean Revival mainstay in the heart of Miami’s Museum District, to its growing family of signature commercial and multifamily properties. Built in 1926 and, in its history, one of South Beach’s premier luxury hotels, Riviera Plaza greeted guests in style for more than six decades before its renovation and conversion into a 56-unit boutique apartment community. Just steps from Miami’s top entertainment and cultural hotspots and one block from famous South Beach, the Miami Beach Boardwalk, and world famous Collins Avenue, the stunning palm-shaded property to this day remains an integral piece of the city’s celebrated historic district.
New Hampshire-based R.J. Finlay & Co. purchased the property, located at 337 20th Street, on March 7, 2012 from Riviera Apartments, Ltd. The sale was brokered by Still Hunter of Marcus & Millichap. In conjunction with the acquisition, the property has been rebranded The Granite at Miami Beach and will continue to operate as a multifamily community.
R.J. Finlay & Co. has selected Jacksonville-based Finlay Management as its onsite property manager, noting a long and successful history of financial management, property maintenance and tenant satisfaction overseeing other large-scale Finlay residential properties in Florida, Texas and New Hampshire.
“The Granite at Miami Beach represents one of the most visually striking, historically significant real estate opportunities to come along in South Beach in quite some time,” R.J. Finlay & Co. CEO Robert Finlay said. “To walk through the doors is to understand the sense of history, community and place this building has enjoyed over the last century. We believe that there are many more wonderful chapters to be written here and are excited to take on this extraordinary property and to provide comfort, security and value to our tenants for many years to come.”
R.J. Finlay & Co. is a New Hampshire-based holding company of diverse businesses and investments with a central focus on real estate.
Source: R.J. Finlay / #Apartments #Multifamily