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Fontainebleau Trouble Won't Head East

MIAMI-The Las Vegas hotel bankruptcy does not extend to the newly renovated local one.

By Carl Cronan | Updated on June 11, 2009

MIAMI-The Chapter 11 bankruptcy filing for the $3-billion Fontainebleau Las Vegas hotel does not extend to the one located here, according to a report in The Miami Herald . Developer Jeffrey Soffer, heir to one of South Florida’s top real-estate portfolios, is pushing for the $800 million needed to restart construction at the troubled and unfinished casino tower.

Soffer’s team is emphasizing that the condominium and hotel project’s woes will not infect its namesake, the newly renovated Fontainebleau Miami Beach, which Soffer bought at the same time he announced the Vegas project in 2005. The 1,500-room hotel reopened last October after undergoing $500 million worth of renovations, and Soffer is partnered with Nakheel Hotels last year on the iconic resort.

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