$90 million sale of Setai Miami Beach complete

The five-star Setai Miami Beach is now owned by two iconic fashion families after the hotel’s $90 million sale closed last week.

Nakash Holdings, controlled by the founders of jeans company Jordache Enterprises, announced it was buying the property from a subsidiary of Lehman Brothers Holdings in December. On Tuesday, the private investment company revealed that it had partners in the deal: financier Alex von Furstenberg, son of designer Diane von Furstenberg, and the family.

“Miami has become an oasis of glamour, energy and beauty and The Setai captures it all with an international luxury experience,” Diane von Furstenberg said in a press release announcing the news.

The purchase of the 120-suite property at 2001 Collins Ave. closed on Friday.

This story was originally published March 4, 2015 at 5:07 PM.