Ex-Lehman execs buy Canyon Ranch, report claims

Miami /
Aug.August 14, 2013 02:00 PM

UPDATED, 3:35 p.m., Aug. 14: Two former Lehman Brothers executives have purchased the Canyon Ranch Hotel & Spa Miami Beach and the next door Golden Sands hotel site, Curbed reported, citing an unnamed “insider” resident.

Lehman Brothers Holdings, the estate of the bankrupted Lehman Brothers bank, vehemently denied the report in a statement to The Real Deal: “There is absolutely no truth to this report.”

Tuesday, a subsidiary of Lehman Brothers Holdings put Canyon Ranch Hotel & Spa Miami Beach on the market along with its next-door neighbor, the development site of the long-shuttered Golden Sands hotel, as TRD reported. The properties are listed with CBRE.

“We anticipate robust demand in the marketplace,” the statement said.

The sale price of the Golden Sands site, approved for a condo development, was $9 million, Curbed said; the website did not give the sale price of the Canyon Ranch resort, stating the amount was unknown.

While still in bankruptcy, Lehman Holdings ended up the owner of Canyon Ranch, the swanky condo-hotel with a 65,000-square-foot spa, after developer Eric Sheppard defaulted on more than $200 million in loans. [Curbed]Emily Schmall


Related Articles

arrow_forward_ios
Cognito's John Backus and 7960 Biscayne Point Circle (LinkedIn, Zillow)
Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
Ex-nightclub mogul Francis Milon sells waterfront Miami Beach home for $13M
369 North Hibiscus Drive (Villazzo Realty, iStock) Buddhist, Mansion
Lawyer pays $14M for waterfront Hibiscus Island manse that hosted Tibetan Buddhist masters
Lawyer pays $14M for waterfront Hibiscus Island manse that hosted Tibetan Buddhist masters
From left: Stephen Macricostas and Andre Branch in front of 4535 Nautilus Court (Getty Images, Redfin)
Buyer of Andre Branch’s former Miami Beach house flips it for $7M
Buyer of Andre Branch’s former Miami Beach house flips it for $7M
Rise at Brickell City Centre at 88 SW 7 Street in Miami (Condos.com)
Closing at Rise tops Miami-Dade’s weekly condo sales
Closing at Rise tops Miami-Dade’s weekly condo sales
Alex and Yanina Sapir (Getty, Instagram, Illustration by Kevin Rebong for The Real Deal)
Developer Alex Sapir’s wife files for divorce, citing a “loveless” marriage
Developer Alex Sapir’s wife files for divorce, citing a “loveless” marriage
Pebb Capital's Todd Rosenberg with 4000 Collins Avenue (Loopnet, iStock)
Pebb JV sells CVS-anchored retail space in Miami Beach for $18M
Pebb JV sells CVS-anchored retail space in Miami Beach for $18M
Black Lion Investments' Robert Rivani and the Ritz-Carlton Residences at 4701 North Meridian Avenue in Miami Beach (Ritz-Carlton Residences, Black Lion Investments)
Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
Black Lion’s den: Robert Rivani pays $8M for waterfront Miami Beach penthouse
Emilio and Gloria Estefan with 444 West Rivo Alto Drive (Getty, Redfin)
Gloria and Emilio Estefan sell waterfront Venetian Islands home
Gloria and Emilio Estefan sell waterfront Venetian Islands home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...