$55,000,000 PROJECTED COST $5,250,000 PROJECTED NET REVENUES PER YEAR STARTING 2024 MIAMI BEACH, FLORIDA 90 KEYS 5 FLOORS HOSPITALITY DEVELOPMENT PROJECT $17,500,000 ACQUISITION PRICE CURRENT 40 KEYS CONDO HOTEL SUITES 36,000 SF / 15,000 SF LOT + APPROVED PLANS FOR 90 KEYS 5 FLOORS 75,000SF (15,000SF PER FLOOR x 5 FLOORS) x $500 PER SF = $37,500,00 PROJECTED GROUND UP DEVELOPMENT COST == $55,000,000 PROJECTED COST — PROJECTED NET REVENUES PER YEAR STARTING 2024 90 KEYS x $150 AVERAGE ROOM CHARGE x 70% OCCUPANCY x 365 = $3,500,000 PROJECTED PER YEAR GROSS ROOM REVENUES + $1,825,000 = 200 MEALS PER DAY x $25 AVERAGE x 365 + $1,175,000 = 200 DRINKS PER DAY x $15 x ER YEAR === $6,500,000 PROJECTED GROSS REVENUES PER YEAR STARTING 2024 – $2,000,000 ESTIMATED EXPENSES PER YEAR (30%) ==== $4,500,000 —- SUBJECT TO CHANGE —DESIGN & DEVELOPMENT GLOBALLY…
$55,000,000.00
