The Real Deal Miami

Hollywood hotel fetches $12.5M

Property was purchased by hotelier couple

July 30, 2015 01:30PM
By Sean Stewart-Muniz

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The Ramada-branded office and retail building in Hollywood

The Ramada-branded office and retail building in Hollywood

A small assembly of properties in Hollywood, including a Ramada Inn, was just sold for $12.5 million, according to Broward property records.

The seller was a local company titled Hollywood Harrison Development, managed by Benjamin Cohen. He paid $2.45 million in 2001 to acquire the Ramada Hollywood Downtown, at 1925 Harrison Street.

That deal also included the $900,000 sale of a three-story office and retail building at the hotel’s rear, also under the Ramada brand. The seller in both these deals were companies headed by Judith Greenberg, an Aventura resident.

Cohen has now resold all of those properties at a $9.15 million premium from what he paid in 2001. The buyer is Ventura Holdings I, a Miami-based company managed by Orlando J. Valdes. He and his wife Gladys Valdes are hoteliers who at one time based their operations out of a historic home along Biscayne Boulevard. The couple sold that home in May, though their company Ventura Holdings still lists its address there.