The Vagabond Group has purchased the historic Miami River Inn for $8.6 million ($148,275 per room). Built in 1906, the inn is located on South West 2nd Street in Miami. The seller, Habitat Group, bought the property for $4.2 million in July 2013. Aztec Group represented the buyer. “This transaction is an indication of Miami’s growth around its main artery and namesake, the Miami River. Bringing such an important property back to life will only further activate the already pulsating river corridor,” said Jason Katz, vice president at Aztec Group in a news release.
