Danny's Blog

The Jordache Jeans Family Buys Setai Hotel

Monday, January 12, 2015
Tags:   Miami Beach Listings, Miami Beach Waterfront Homes

In such a diverse city like Miami, which is ever growing, it is always interesting to see who is behind the hotels and different centers that continually update and modernize the city. A recent development in this area comes from a family that is very familiar with Miami and has just made a large investment in the city.

The family that owns Jordache Jeans recently purchased South Beach's Setai hotel. Currently, the family is under contract for the hotel for $90 million. This same family bought the famous and iconic Versace Mansion last year for $41.5 million and they also own the Viceroy hotel on Ocean Drive, plus four other hotels in Miami. So, this family has been investing and finding success in Miami for quite some time.

Before they made this current purchase, they already owned 15 units in the Setai's residential section and have been using the units as a second home for the past decade. Meaning that even when owning several hotels in Miami, they still decided to make this particular hotel their second home and have continued to invest in it since then.

To give you some background information, the Setai hotel was built in the 1930s and is an Art Deco gem, which was previously owned by Lehman Brothers holdings Inc.

If you are wondering how this family is able to invest so much, the family doesn't only own Jordache Jeans, but through Jordache Enterproses they also own different brands like Gasoline and XOXO. They also manufacture jeans for other labels, plus they have several real estate ventures, hotels, agricultural projects, and they even own an airline and a port in Israel.

It will be interesting to see if this very influential family will make any updates or renovations to the Setai hotel. For information on Miami Beach Listings and Miami Beach Waterfront Homes, you can contact Danny Hertzberg of the Jills at 305-505-1950 to learn more.

 
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