Brazilian Court Hotel & Beach Club at 700 and 701 Australian Avenue in Palm Beach (ballroom photo via Oyster)
Miami Beach investment firm Ezra Group, led by Doron Marom, bought a distressed $19 million mortgage on the storied Brazilian Court Hotel & Beach Club in Palm Beach.
In February, MUNB Loan Holding, affiliated with Bank of New York Mellon, filed a foreclosure suit against the hotel owners CSC Brazilian and BC 201 LLC regarding 35 unsold condominium hotel units and most of the common areas, the South Florida Business Journal reported.
Ezra Group has since filed a motion to take over the plaintiff role in the pending lawsuit. The 80-room hotel, located at 300 and 301 Australian Avenue, is best known as where Robert F. Kennedy’s son David A. Kennedy died from a drug overdose at age 28 in 1984. West Palm Beach-based Ceebraid Signal Corp. led renovations at the hotel in 2008. [South Florida Business Journal] — Mark Maurer
via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/oNlHkHe5nmE/
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