Newmark Arranges $172.5 Million Acquisition Financing For Luxury WPB Hotel
Delivered in February 2020, the hotel is the only waterfront hotel in West Palm Beach offering direct proximity to Palm Harbor Marina.
Delivered in February 2020, the hotel is the only waterfront hotel in West Palm Beach offering direct proximity to Palm Harbor Marina.
He brings more than two decades of institutional experience across leasing, investment and advisory services, having overseen over $4 billion in transactions involving more than 7 million square feet of office assets across Florida’s major markets.
RFR acquired the tower and an adjacent parking garage in 2022 for $81.1 million.
PEBB, in a joint venture with Cincinnati-based Topvalco Inc., sold the property for $30 million.
Expected to open in fall 2026, the 13,083-square-foot, three-story property lease marks Ketchy Shuby’s first Florida location, joining two existing locations in Lower Manhattan and Southampton, New York.
The 57-story office tower is Miami’s first Class-A delivery in more than a decade.
The entire site encompasses 228,355 land square feet and 435 feet of frontage along South Dixie Highway, and includes a 4-story office building.
Completed between 2024 and 2025, the property comprises 420 units, offering a mix of studios, one-, two- and three-bedroom layouts, and townhomes.
Newmark Multifamily Capital Markets Executive Managing Director Tal Frydman and Vice Chairman Hampton Beebe facilitated the sale on behalf of the seller.
Leasing activity in the Brickell submarket remains exceptionally robust in 2025, with over 200,000 square feet leased year-to-date.
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