The Bath Club in Miami Beach Hits the MarketMarch 24, 2017
By: Ismael Rodriguez
The historic Bath Club in Miami Beach, once a private members club hosting renowned celebrities and even former U.S. President Herbert Hoover, has been listed for more than $25 million last week.
The Peebles Corporation, a real estate and investment company, is listing the 5-acre club that sits at 5937 Collins Avenue and includes a 15,000-square-foot clubhouse, a fitness center, a commercial kitchen, 60 cabanas, parking lot, and courtyard.
“Right now, the real estate is operated as an event venue primarily, for corporate events and weddings, but the club historically has been a private members club,” Gerard Yetming, listing broker at The Peebles Corporation, told the press.
“We think it will have international appeal,” Yetming told the press. “It’s going to go to developers who may want to keep this as a private club, to a corporate audience, the high-end luxury market. Maybe to a high-net worth individuals’ group that wants to have a presence in Miami Beach.”
Don Peebles, chairman and CEO of The Peebles Corporation, bought the property in 2000 for $10 million, purchasing the rights to the club afterwards. His firm redeveloped a portion of the property, converting it into 107 condos and six oceanfront villas, which were completed in 2006, but preserved the original clubhouse building.
“The Bath Club is the oldest social club in the Southeastern U.S., and there’s nothing else like it in Miami, and frankly in South Florida,” Peebles told the press.