
The Nakash family closed on its sale of 12 units at the W South Beach to an entity tied to Aby Rosen and Michael Fuchs’ RFR Holding and David Edelstein’s Tricap.
Two W Unit LLC, Nakash Holding LLC, and Nakash Miami Condo Investments LLC sold the condo-hotel units to 2201 Collins Fee LLC, according to property records. The units sold for $10.8 million, the same price the Nakashes paid for them in 2014 and 2015.
The buyer financed the purchase with a $6.9 million loan from Citibank and Deutsche Bank. 2201 Collins Fee LLC now owns about 225 units at the beachfront 20-story tower, records show.
Edelstein said the W South Beach hotel is at 90 percent occupancy.
Read the full story: www.therealdeal.com
Tags: $6.9 million loan 2201 Collins Avenue Miami Beach 2201 Collins Fee LLC Aby Rosen CEO of Roadhouse Grill Citibank David Edelstein Deutsche Bank Florida Real Estate Hospitality Industry Jordache Enterprises Joseph Nakash Marriott Miami Beach Miami Beach Real Estate Miami real estate Nakash Ocean Drive Ralph Nakash RFR Setai Miami Beach South Beach SOUTH FLORIDA South Florida Hospitality Industry South Florida Real Estate Tricap upscale hotels Versace Mansion W South Beach