The $117 million sale of the Miami Beach Resort to a company managed by Chetrit Group LLC has closed.
MBR Waterview LLC, a company managed by Joseph Chetrit’s New York investment firm, closed Tuesday on the acquisition of the 424-room oceanfront hotel at 4833 Collins Ave., according to an announcement from the brokerage that handled the sale. The company plans an extensive renovation of the resort, including a redesign of its public areas, upgrades to meeting facilities and guest rooms, and potentially new restaurant tenants. The hotel would remain operational throughout renovations.
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