WRE News: Reuben Brothers Expand South Florida Portfolio with $400M Acquisition of W South Beach Hotel

Miami Beach, FL – October 30, 2024 – Billionaires Simon and David Reuben have staked their claim in Miami Beach, purchasing the W South Beach for over $400 million.

The Reuben Brothers Group, a London-based investment firm, acquired the 395-room hotel from New York developers Aby Rosen and David Edelstein, marking their entry into the Miami Beach hospitality market. The oceanfront property at 2201 Collins Avenue, which includes 211 individually owned condo-hotel units, was previously co-owned and developed by Rosen and Edelstein, who had managed it since its completion in 2009.

“I take great pride in having played a part in changing the landscape of Miami Beach,” shares Edelstein in an exclusive quote to World Red Eye. “I am confident that the Reuben Brothers family will take the W to the next level of greatness, and look forward to the success they will achieve. I’d like to thank my partners, my investment advisor Doug Harmon from Newmark, and our broker Jeff Davis from Eastdil Secured.”

The sale represents a high-value addition to the Reubens’ growing South Florida portfolio, following acquisitions in Palm Beach and a stake in the JW Marriott Miami Turnberry in recent years.