Madrid – February 10th, 2021
After undertaking a complete refurbishment of the iconic 2150 Park Avenue, equiping the building with high grade materials and having changed the use from multi-family to hotel, more specifically “suite-hotel”, we have launched our second luxury rental apartment’s project on the shores of Miami, a booming market and preferred destination for national and international visitors.
With this transaction, we have added 20 apartments to the previous 27 located at south of fifth, on 250 Collins Ave, launched in March 2019. Both buildings are located in strategic areas of Miami Beach. With this new opening, we have become strong competitors in this attractive market with a total of 47 luxury apartments, consolidating our position while we continue on the lookout for new real estate investment projects in the US.
“After the market launch of the 250 Collins Avenue building, this new apartment complex located at 2150 Park Avenue consolidates Drago as a leading value-add asset manager in the real estate market in Miami,” declares Mayte Medina, CEO of the firm . “Following our business plan in the country, we continue to seek new projects and opportunities to grow our portfolio of short term rental properties and increases the value of assets for our partners ”
2150 Park Avenue is an iconic building in Miami Beach, placed at a strategic point between the The Bass museum, the luxury hotels W and Setai and the newly released convention centre. Built in 1947 and acquired by Drago in 2017, the building has maintained its original modern-post-war
architecture. With its 1.000 m2 built, Drago has completely remodelled the building to provide a high-class holiday enjoyment.
Drago signed an agreement with Jurny in September, a high-tech hospitality management platform and a pioneer enterprise providing new generation hospitality services based on high technology on-demand, managing high-end suites and apartments for short-term stays. Our apartments can now be booked through multiple online platforms, including its own application (Jurny.com) and other operators such as Airbnb.
“We are excited to collaborate with Drago on the opening of this newly launched hotel in Miami Beach. ‘Jurny at Park’ is well positioned in a competitive market with exquisite design and we will offer our guests complete control of their experience as well as outstanding service that will keep them coming back again and again.”, assures David Phillips, Jurny’s Co-Founder & President.
Launching this property has been a challenge for us since the remodelling works concurred with the outbreak of Covid-19. Despite this, we have managed to move all our resources, complete the works and obtain the necessary permits to start operating.
Miami has recently tightened local regulations regarding the exploitation of short-term rentals, turning 2150 Park Avenue into one of the few properties that has the proper zoning classification and licenses to be offered in this high demanded market in Miami Beach.
