Ex-Russian politician sells Hollywood Beach hotel

Vadim Gataullin sold the Neptune Hollywood Beach Hotel to a company led by Jacob and Viktor Goldenberg of North Miami Beach

May.May 01, 2019 04:00 PM
Vadim Gataullin and Neptune Hollywood Beach (Booking)

Vadim Gataullin and Neptune Hollywood Beach (Booking)

A former Russian politician sold the Neptune Hollywood Beach Hotel for $8.1 million.

Vadim Gataullin’s company, VVG Real Estate Investments, sold the 29-room Neptune Hollywood Beach at 2012 North Surf Road for $279,310 per room, records show. The buyer is tied to a company led by Jacob and Viktor Goldenberg of North Miami Beach.

The 16,913-square-foot motel sits right on the beach in Hollywood. It was last purchased for $7.2 million in 2013, records show. Its website describes rooms as starting at $149 per night and going up to $250 per night.

According to a Reuters article from 2017, Gataullin is from the semi-autonomous Russian Republic of Bashkortostan. He is the son of a deputy regional prosecutor, and was a deputy in the regional parliament from 2013 until 2015.

The article said VVG Real Estate spent at least $28 million on property in Broward County between 2012 and 2016. One of the properties was a unit in the Trump Hollywood condo building. The company also bought and sold six properties in Miami-Dade County, according to Reuters.

Last year, VVG Real Estate Investments LLC proposed building a 36-unit residential building called Oceanside Residences on a site near the beach in Hollywood.

Related Articles

A conceptual rendering and Lon Tabatchnick

Margaritaville developer plans another Hollywood hotel despite opposition

Ambassador Hotel Cooperative Apartments (Credit: iStock)

Copperline Partners closes on bulk co-op deal in Palm Beach

From left: Keith Menin and Russell Galbut, with the Domio Kaskades Hotel

Russell Galbut wants to sell another Miami Beach hotel

Jeffrey Soffer and Fontainebleau Miami Beach

Jeffrey Soffer scores $1.2B refi of Fontainebleau Miami Beach

The LaLanne exhibit at The Real Deal’s event in October

Michael Shvo to unveil tropical gardens with LaLanne exhibit at the Raleigh

Hotel Morrison (Credit: iStock)

Hospitality firm buys new Hotel Morrison in Dania Beach for $28M

John Lancet of HVS and John Chang of Marcus Millichap

As hotel development ramps up, occupancy and revenue growth soften: report

The Julia hotel, Jesper Arnoldsso

SMS Lodging lists Miami Beach hotel after selling another for $21M