Claim: Bidding War For Collins Avenue Condo Next To Faena Ends

A year-long bidding war for a Collins Avenue condominium has ended, a tipster tells TNM.

The Atlantic Princess Condo at 3120 Collins Avenue will be sold to a U.K.-based company named Succa, the source claims, with plans to turn the building into a hostel.

Although not beachfront, records show that the property runs from Collins Ave to Indian Creek Drive and includes a strip of land on the water, preserving views. Built in 1940, the building sits across the street from the Faena District.

Mast Capital, and Wharton Equity Partners were said to be among the bidders for the property, according to the tipster.

More information will be posted as it becomes available.


Update: Terra Group did not bid on this property.