South Beach Shore Club hotel sold, Van Dyke closes

After buying Shore Club for $175 million, new owners to “re-imagine” hotel - Business - MiamiHerald.com: "“We have an extraordinary, once-in-a-lifetime opportunity to re-imagine and reposition a world-class property in a market that has seen continued demand for luxury properties,” said Ziel Feldman, founder and managing principal of HFZ Capital Group, in a press release this week."

South Beach’s Shore Club hotel sold for $175M - South Florida Business Journal: " .... On Dec. 30, Philips South Beach sold the 322-room hotel at 1901 Collins Ave. to New York-based Shore Club Property Owner LLC, an affiliate of HFZ Capital Group and CFSC Holdings. The Fortress Credit mortgages were assigned to the buyer. Ziel Feldman signed the mortgage on behalf of the borrower."

Van Dyke Café closing on Lincoln Road - Business - MiamiHerald.com: "... in recent years, as real estate costs have soared, several longstanding businesses and restaurants have closed on the pedestrian mall. 50 Eggs CEO John Kunkel, owner of just-off-Lincoln Road restaurants Khong River House and Yardbird, responded to the Van Dyke news on Twitter. “Had to happen no restaurant can afford $300 per sqft! Thats right 300++ a sqft on Lincoln Rd,” he wrote. He predicted that the restaurant scene will grow off the main strip, but warned that even there, costs are “not cheap!”..."

more news below

Follow @LaPlayaIsla