Greenberg Traurig real estate shareholder Juan Loumiet, land development shareholder Alfredo Gonzalez and real estate associate Devon Vickers. Courtesy photos
The New York developer and joint venture partners bought The Richmond and South Seas hotels for $140 million after acquiring The Raleigh for $103 million with plans to restore them and add a residential tower.
September 17, 2019 at 02:50 PM
1 minute read
South Florida real estate reporter
Big-name New York developer Michael Shvo’s $140 million acquisition of two Miami Beach hotels with two joint venture partners was no easy deal.
The purchase of The Richmond and South Seas hotels hinged on the city changing its code to allow a 200-foot residential tower behind the hotels.
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