{"id":367656,"date":"2026-08-10T18:12:08","date_gmt":"2026-08-10T18:12:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/367656\/"},"modified":"2026-08-10T18:12:08","modified_gmt":"2026-08-10T18:12:08","slug":"el-ad-national-buys-oceanfront-fort-lauderdale-hotel-for-60m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/367656\/","title":{"rendered":"El-Ad National Buys Oceanfront Fort Lauderdale Hotel for $60M \u2013 Commercial Observer"},"content":{"rendered":"<p>Developer <a href=\"https:\/\/commercialobserver.com\/company\/el-ad-national-properties\/\" title=\"El-Ad National Properties\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">El-Ad National Properties<\/a> has paid $60 million for an oceanfront hotel in Fort Lauderdale, Fla., property records show.<\/p>\n<p>The 99-room Sea Club Resort sits on a 1.2-acre site at 619 North Fort Lauderdale Beach Boulevard, between Belmar and Auramar streets. The 54,982-square-foot building dates back to 1954.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2026\/08\/longfellow-sells-hatch-life-sciences-lic-87m\/\" rel=\"nofollow noopener\" target=\"_blank\">Longfellow Sells Hatch Life Sciences Building in LIC for $87M<\/a><\/p>\n<p>An entity tied to Rachel Levy and Michael Man has owned the resort since 1995, when it paid just under $4 million for it. The entity provided $40 million in seller financing to El-Ad National Properties, a Boca Raton-based division of Israeli billionaire Isaac Tshuva\u2019s <a href=\"https:\/\/commercialobserver.com\/company\/el-ad-group\/\" title=\"El-Ad Group\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">El-Ad Group<\/a>.<\/p>\n<p>The property will likely be redeveloped. <a href=\"https:\/\/commercialobserver.com\/company\/berkadia\/\" title=\"Berkadia\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Berkadia<\/a> <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/properties.berkadia.com\/619-n-ftl-beach-blvd-470618\/p\/1\">has been marketing the site<\/a> as \u201cone of the last remaining oceanfront development sites in the Fort Lauderdale area.\u201d<\/p>\n<p>The land is zoned to house a 541-unit, 246,989-square-foot development up to 200 feet tall, according to Berkadia. An additional 40 feet could be granted if 60 percent of units serve as a hotel, though the Sea Club Resort\u2019s lobby is protected under a preservation agreement with the Broward Trust for Historic Preservation.<\/p>\n<p>El-Ad is an active developer in South Florida. Last year, it <a href=\"https:\/\/commercialobserver.com\/2025\/09\/el-ad-davie-florida-housing\/\" rel=\"nofollow noopener\" target=\"_blank\">nabbed<\/a> an $85 million construction loan for a mixed-use, 2.8 million-square-foot development in Davie. That same year, it completed the luxury Alina Residences condo development in Boca Raton.<\/p>\n<p>A spokesperson for El-Ad did not respond to a request for comment. The sellers could not be reached for comment.\u00a0<\/p>\n<p>Julia Echikson can be reached at <a href=\"https:\/\/commercialobserver.com\/2026\/08\/el-ad-national-sea-club-resort-florida\/mailto:jechikson@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Developer El-Ad National Properties has paid $60 million for an oceanfront hotel in Fort Lauderdale, Fla., property records&hellip;\n","protected":false},"author":2,"featured_media":367657,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[148986,8001,249,251,250,20157,148987,148988],"class_list":["post-367656","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fort-lauderdale","tag-619-north-fort-lauderdale-beach-boulevard","tag-channel","tag-fort-lauderdale","tag-fort-lauderdale-headlines","tag-fort-lauderdale-news","tag-investments-sales","tag-isaac-tshuva","tag-sea-club-resort"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/367656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=367656"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/367656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/367657"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=367656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=367656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=367656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}