Nakash family sells W South Beach units to RFR, Tricap

Nakash family sells W South Beach units to RFR, Tricap
From left: 2201 Collins Avenue in Miami Beach, Joseph Nakash, Aby Rosen, Ralph Nakash, and David Edelstein (Photos via Marriott; Getty) www.therealdeal.com

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 

Zulma Torres

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