Waldorf Hotel, led by Argentine developers Jorge Savloff and Marcelo Tenenbaum has purchased the Waldorf building for $6.2 million. The Miami Beach apartment building will be converted into a 32-room boutique hotel with a restaurant and bar. Located at 1334 Washington Avenue, the 12,648 square foot property has 4,174 square feet of Washington Avenue retail space and 8,474 square feet of multifamily space. Built in 1925, the three-story building has 14 one-bedroom, one-bathroom apartments. The seller, BRC Florida, purchased the property for $1 million in 1993. Savloff and Tenenbaum have also developed The Club at Bay Harbor and the Art Deco Shore Berkeley Hotel in South Beach. The conversion of the building is due for completion in 2016.
