The Como Metropolitan Miami Beach hotel was sold for $70 million. The plans are to renovate it and brand the property a Fasano.
The Art Deco hotel, built in 1939, was formerly called the Traymore Hotel, and was previously renovated with interiors by Italian designer Paola Navone.
The hotel features a beachfront swimming pool, a rooftop hydrotherapy pool, and the Traymore restaurant and bar.
The deal confirms the current trend in the luxury hotel market in Miami, as more high-end international brands expand into the region. Waldorf Astoria, Aman and others all have new projects in the works.
Fasano opened its first location in New York City last year, a private residential club called Fasano Fifth Avenue that overlooks Central Park.
Fasano has been looking for a new location in Miami Beach for years.
The Como Metropolitan was built in 1939 and is the oldest surviving building on the block. It was designed by architect Albert Anis (1889–1964) whom was known for his Art Deco architecture. He was one of a group of American-born architects working in Miami Beach “who synthesized the austere architectural principles of the International Style architecture with their own brand of modernism which embraced the ornamentation and exotic lure of the tropical”. Anis designed 11 buildings, including the Promenade, Mantell Plaza, Copley Plaza, and Westover Arms.
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