Historic Clinton Hotel on South Beach sells for $28.5 million

The Clinton Hotel has a new owner: Think Hotel Group, which owns a handful of properties near Collins Park in Miami Beach.

The $28.5 million acquisition, announced Friday, expands the company’s reach farther south.

Located at 825 Washington Ave., the 88-room Clinton Hotel was built in 1934. A refurbishment added two stories and space for retail, food and beverage areas.

East Coast Realty Ventures, based in Rockville, Md., was the seller. The commercial division of real estate firm Douglas Elliman represented the buyer and seller.

The new owner plans to renovate, according to a press release from the real estate company.

Think Hotel Group’s portfolio includes the Boulan South Beach Hotel and South Beach Hotel, both of which are open, and the Plymouth Hotel and Ansonia House, which are both being renovated.