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| The Gulfstream Hotel, 1 Lake Avenue, Lake Worth, Florida |
Location, Location, Location, Charm and Majesty! Those are the words of the seller's agent, W Properties of Miami. And they're about right.
The Gulfstream Hotel is the grandest and most prominent building in Lake Worth. It was built in 1924, and is listed on the National Register of Historic Places. It is located just at the edge of our lovely downtown, just before the road takes you up over a bridge that leads to our ocean beach. It overlooks Bryant Park, the Intracoastal Waterway and the golf course. It has a total of 106 rooms and a 4000-square-foot restaurant.
I called about the price some months ago. I believe it was $12 million -- way too much in this market. It seems it should be half that, or less.
The W Properties listing says the hotel is "ready for redevelopment" and talks of the current owner's (ditched) plans to add 100 large guest rooms to appeal to "destination spa-goers."
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