California Investor Buys Oceanfront Hotel Near Fort Lauderdale for $37M
By Julia Echikson July 9, 2025 1:25 pm
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T2 Hospitality purchased an oceanfront motel and hotel north of Fort Lauderdale for $36.6 million, property records show.
Called Plunge Beach Resort, the property holds two buildings: a five-story hotel with 137 rooms and a two-story motel with 26 rooms. The two structures were built in the 1950s and 1970s and share a pool deck.
The 96,241-square-foot complex at 4640 and 4660 El Mar Drive sits adjacent to Pine Avenue in Lauderdale-By-The-Sea, Fla., on a 0.69-acre ground lease with Antina Investments III as the landlord. The site is roughly seven miles north of Downtown Fort Lauderdale.
Bank of America provided a $27.5 million acquisition loan. The seller, an entity managed by Boca Raton-based Oleksandr Naumyk and Liubov Tereshko, bought the asset for $21.6 million in 2013, according to property records.
The acquisition appears to mark T2 Hospitality’s first venture in South Florida. Based in Newport Beach, Calif., the firm’s portfolio primarily consists of midsize hotels in California.
Representatives for T2 and the sellers could not be reached for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
