The Real Deal Miami

Richard LeFrak expects 1 Hotel & Homes to sell out by end of tourist season

100 out of 157 units sold
By Francisco Alvarado | December 05, 2014 05:15PM

Richard LeFrak

Developer Richard LeFrak

Developers Richard LeFrak and Barry Sternlicht hosted a private party for about 250 guests showcasing a sample of units at 1 Hotel & Homes South Beach on Friday.

The New York real estate mogul said they have already sold 100 out of 156 units. The property, located at 2399 Collins Avenue, is expected to be sold out by the end of the tourist season. 

“We are trying to show everybody what a great hotel and condo project we have put together,” LeFrak said. “We always felt showing the baby would always be better than the baby picture.”