After two years (of drama, so we hear) the Chetrit Group has finally bought out every unit at the art deco Versailles Hotel, for a total of $50 million. Now they can start restoring and converting it into Miami Beach's second King & Grove Hotel, which they'e been planning forever but is still technically a secret. A rear addition by Kobi Karp is in the works. [Daily Business Review; Curbed Miami]
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