The Real Deal Miami

Edie Laquer scores $5.6M loan for St. Regis condos

Units were resales from investors
By Sean Stewart-Muniz | June 11, 2015 03:45PM

The St. Regis Bal Harbour and Edie Laquer

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 has a litigious history in Miami’s real estate market, having sued previous partners and big name developers alike, including those of the massive Miami Worldcenter project.

Laquer started working in real estate roughly 36 years ago, and had a major hand in shaping the current face of Miami.