1540 Pennsylvania Ave, Miami Beach, FL 33139

Horvath & Tremblay is pleased to present the exclusive sale of the “Delano” (herein referred to as “the property”), a pride of ownership 16-unit historic multifamily building located at 1540 Pennsylvania Avenue in the heart of Miami Beach, Florida. The property was constructed of concrete block in 1934 with an Art Deco taste and is situated on a 7,500 square foot lot. The Delano offers residents the epitome of luxury and privacy with a gated and lushly landscaped courtyard all within walking distance to Lincoln Road, Washington Avenue and Collins Avenue the most infamous and densely packed commercial corridors within Miami Beach that offer an array of dining, night life and entertainment opportunities. The property has a desirable unit mix consisting of eight (8) studio and eight (8) one-bedroom and one-bathroom apartments, which perfectly serves the needs of many new and existing residents in South Beach. The property also has bike racks and an on-site laundry facility for the convenience of the residents. At first glance, the presence of the 1930’s and 1940’s Art Deco Style is all too noticeable to the discerning eye with the streamlined curves, jutting style and window “eyebrows”, the Delano is an Art Deco Gem. The properties charming architectural style seems almost too perfectly suited to a city originally created for sun, sand and relaxation. With the ongoing redevelopment in South Beach and Miami overall, the property is uniquely poised to benefit from long term appreciation and rental growth. Over the past several years, many developers have called plans to redevelop former apartment buildings in the area into new uses such as Hotel and Commercial or Mixed Use properties as Miami Beach continues to pursue a vision unlike no other city in the world. With fine sandy beaches, virtually unlimited nightlife and entertainment venues in the backdrop of an increasing amount of residential and tourism related real estate, the overall growth of the area will inevitably result in tremendous potential for future price appreciation. Furthermore, the trend of companies such as the hedge fund Citadel moving headquarters to Miami, are signs that large global companies are attracted to Florida’s business friendly climate and tax advantages. This will ultimately result in the long-term net migration of people and capital into South Florida as people and companies catch on to the vibrant and growing metropolis, that is Miami. Also, as such companies entice and relocate top talent to the area, these employees will ultimately settle in Miami and be drawn to live in areas such as Miami Beach, resulting in a boon for real estate demand in the short and long-term. The Delano is a veritable example of the architectural significance and history of Miami Beach that never fades yet stands amongst new properties that preservationists from the pre-1920’s would have never fantasized. Only a handful of legacy properties remain in South Beach and new ownership has an opportunity to participate in the furtherment and betterment of a vision and spirit that transformed Miami Beach from a mangrove swamp into one of the greatest metropolitan playgrounds of the Western World that it is today.