MIAMI BEACH, FL—The Setai Miami Beach has new ownership: Nakash Holdings and the von Furstenberg family. Nakash Holdings is a privately held investment company controlled by the founders of Jordache Enterprises, of designer jeans fame. Financier Alex von Furstenberg and family are partnering with the Nakash family in this venture.
“Since opening in 2004, The Setai has defined luxury hospitality in Miami. We feel there is enormous opportunity for the brand and continued growth,” stated Alex von Furstenberg.
“Miami has become an oasis of glamour, energy and beauty and The Setai captures it all with an international luxury experience,” added Diane von Furstenberg in a statement.
Nakash Holdings purchased the hotel from a subsidiary of Lehman Brothers Holdings Inc. The sale closed on Feb. 27.