None
EN
El-Ad National Buys Oceanfront Fort Lauderdale Hotel for $60M
['Julia Echikson', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright']
Commercial Observer
Developer El-Ad National Properties has paid $60 million for an oceanfront hotel in Fort Lauderdale, Fla., property records show.
The 99-room Sea Club Resort sits on a 1.2-acre site at 619 North Fort Lauderdale Beach Boulevard, between Belmar and Auramar streets.
An entity tied to Rachel Levy and Michael Man has owned the resort since 1995, when it paid just under $4 million for it.
The entity provided $40 million in seller financing to El-Ad National Properties, a Boca Raton-based division of Israeli billionaire Isaac Tshuva’s El-Ad Group.
Berkadia has been marketing the site as “one of the last remaining oceanfront development sites in the Fort Lauderdale area.”