Edie Laquer, one of Miami’s top commercial brokers, just took out a $5.6 million mortgage for two of her units in the St. Regis Bal Harbour.
The real estate veteran first purchased the condos for a combined $6.75 million in 2013, Miami-Dade property records show. Both were resales from investors who picked up the units from developer Starwood Hotels & Resorts Worldwide when the St. Regis opened in 2012.
The more expensive of the two is a three-bedroom, three-bathroom residence that cost Laquer $4.65 million. The other has one bedroom, one bathroom and carried a sale price of $2.1 million.
Laquer took out the financing from lender Morgan Stanley Private Bank, National Association, according to Miami-Dade County records. She had originally signed a $2.79 million mortgage for unit 500 — the larger of the two — and rolled unit 502 into the mortgage a year later.
Laquer told The Real Deal that because she is a longtime client of Morgan Stanley for her market portfolio investments, she was able to obtain the funds from Morgan Stanley Private Bank at below market rates.
“Since I stopped brokering about four years ago and am expanding my personal real estate investments, refinancing my condos at the St. Regis Hotel at this time was a prudent opportunity for me to take advantage of,” she said.
Laquer started working in real estate roughly 36 years ago, and had a major hand in shaping the current face of Miami.