Chetrits Lose Miami Beach Hotel To Foreclosure After $96M Judgment
about 10 hours ago
Joseph and Meyer Chetrit lost the historic Tides Hotel in Miami Beach, Florida, in a foreclosure auction after defaulting on a $42M mortgage debt that grew to $96M due to interest and legal fees. The hotel, damaged by Hurricane Irma and closed since 2017, was acquired by Safe Harbor Equity following a lengthy legal battle. The foreclosure included the hotel, expansion sites, and a parking garage. The Chetrits are appealing the judgment and face other legal issues, including tenant harassment charges in New York and additional foreclosures on other properties.