South Street Partners just wrote a big check for some sand and skyline, snapping up Solé Miami, the 249-key oceanfront condo-hotel at 17315 Collins Avenue in Sunny Isles Beach. The deal, announced in late May, shifts the keys from Mast Capital and sets the stage for a refresh of the resort’s guest rooms and public spaces. Noble House Hotels & Resorts will keep running day-to-day operations while South Street lines up its planned upgrades, adding yet another beachfront play to the firm’s Southeast hospitality portfolio.
As reported by The Real Deal, the sale price landed somewhere between $20 million and $25 million, roughly $80,300 to $100,400 per key. Separately, ConnectCRE reported that Berkadia’s Christian Charre and Paul Weimer negotiated the deal on behalf of Mast Capital.
In a press release via PR Newswire, South Street described Solé as a modern, 24-story resort with both ocean and city views and said it plans guest room and common area upgrades, followed by additional improvements. The firm highlighted Sunny Isles as a high-growth RevPAR submarket and cast the acquisition as part of its broader push into drive-to coastal resorts.
Solé’s official site touts five indoor and four outdoor meeting venues, four on-site food and beverage outlets, a market, a fitness center with steam room and sauna, an oceanfront pool and private beach service with dune dining. The hotel also lists about 6,500 square feet of event space and guestrooms with private terraces overlooking the Atlantic and the Intracoastal Waterway, which helps explain why investors keep circling this stretch of Collins.
Condo-hotel dispute in court records
Court filings show the Solé Condominium Association sued hotel ownership entities in 2023, arguing that the property’s easement-parcel structure improperly shifted common elements and let the hotel assess residents. Those claims are detailed in filings obtained from DocketAlarm, and The Real Deal reports the association later withdrew the suit in July 2025 before the case reached trial.
Public records show Mast Capital acquired the asset for about $4.9 million in 2021, so the reported resale price represents a sizable gain for the seller. ConnectCRE first flagged the transaction and noted that Berkadia negotiated on Mast Capital's behalf.
What comes next
South Street's portfolio highlights a focus on private residential clubs and resort communities across the Southeast, and the firm says Solé fits that playbook as a beach-drive resort. For now, South Street has shared only broad plans to renovate rooms and public areas, with no firm renovation timeline or public staffing changes on deck yet, so guests may see the upgrades unfold in stages rather than a dramatic overnight transformation.
