Reuben Brothers Acquire Miami’s W South Beach in Major Hospitality Investment

Billionaire brothers Simon and David Reuben have expanded their hospitality footprint to Miami Beach with a significant acquisition: the W South Beach, purchased for over $400 million. According to a press release, the Reubens’ investment firm, Reuben Brothers, acquired the luxury hotel at 2201 Collins Avenue from Aby Rosen and David Edelstein, heads of New York-based RFR Realty and Tricap, respectively.

Eastdil Secured’s Jeffrey Davis facilitated the transaction for the sellers. The acquisition includes 175 hotel rooms and 173 condo-hotel units, adding to the Reubens’ growing portfolio. While The Real Deal previously reported the Reubens were in talks to buy a majority stake, the deal resulted in Rosen and Edelstein entirely exiting ownership after nearly 20 years.

Rosen and Edelstein initially developed the W South Beach through Tricap, formerly Tristar Capital, on a 3.5-acre property near Miami’s Bass Museum of Art and City Ballet. Completed in 2009, the 20-story resort is an iconic luxury destination. Despite a successful run, the partnership experienced tension last year when the two filed lawsuits against each other, alleging interference with Tricap’s proposal to buy out RFR’s share. They settled the dispute in April 2023, paving the way for this latest sale.

This acquisition is the latest in Reuben Brothers’ South Florida investments. In 2022, they acquired the 53-room Chesterfield Hotel in Palm Beach for $42 million. They are renovating to reopen as The Vineta under the Oetker Collection in 2025. In 2020, the firm also purchased a 25% stake in the JW Marriott Miami Turnberry Resort & Spa in Aventura. This property had recently undergone a $300 million upgrade by majority owner Fontainebleau Development.

The Reubens’ latest purchase affirms their commitment to luxury hospitality, adding another prestigious property to their collection.