Having spent decades building a global reputation in private equity, property development, and venture capital, Reuben Brothers has added yet another luxury piece of US real estate to their impressive portfolio.
Brothers David and Simon Reuben previously amassed their wealth through metals trading before turning their attention to lucrative opportunities in global real estate investment and development. Now, spearheaded by the firm’s principal, Jamie Reuben, Reuben Brothers has doubled down on its South Florida expansion.
Towards the end of 2024, it was reported by the Observer that Jamie Reuben, son of self-made billionaire investor David Reuben, secured the year’s largest hospitality deal in the region, purchasing Miami’s W South Beach for $425 million in October.
“Our vision is clear: to secure its standing as Miami’s leading global destination, while reimagining its future and delivering an unparalleled luxury experience,” said Jamie Reuben in a statement.
Miami’s W South Beach is an oceanfront property, located at 2201 Collins Avenue in Miami Beach. It features 175 hotel rooms, a ground floor restaurant, and 173 condo units which are managed by the resort.
Unlike many of Reuben Brothers’ previous real estate investments in the hospitality industry, however, there are currently no reported plans for W South Beach to undergo any renovations or redevelopments.
Prior to the sale which was facilitated by RFR Holding and Tricap, the five-star hotel underwent a $30 million room renovation in 2020, as reported by Forbes. The overhaul included re-designed interiors and a new wellness spa and sanctuary to complement the existing Mr. Chow restaurant.
The world-class luxury property also benefits from 300ft front access to the Atlantic Ocean, 20,000sq ft of food and beverage space, including Mr Chow, and around 15,000sq ft of event space.
This latest South Florida acquisition follows Reuben Brothers’ $42 million transaction of the Chesterfield hotel in Palm Beach. The four-story landmarked building at 363 Cocoanut Row is set to reopen early 2025 as The Vineta hotel, but not before it undergoes a major redevelopment effort.
Significant renovations, external sitework improvements, and interior layout changes are required to ensure the South Florida hospitality investment, managed by luxury hotel brand Oetker Collection, can comfortably house 41 rooms, a restaurant, nightclub, and pool area.
Elsewhere in the US, Reuben Brothers is also making its mark on the real estate hospitality market. In the past five years, the firm has disclosed the purchase of seven New York City investments, as reported by Bloomberg.
This includes a 39,000 square-foot building on 16 East 16th Street (in New York’s Flatiron District) which is set to be reopened as The Twenty Two, New York – a luxury hotel, restaurant, and private members’ club – in the first quarter of 2025.
Between New York and South Florida, Reuben Brothers has well and truly crossed the pond and is making real estate waves in the luxury hospitality industry across the US.
