1675-4 Deauville Hotel vvelate the road as an in-
Idependent. , j6
Beach Hotel
Is Acquired
By Sam. Cohen
By BEN SCHNEIDER
Miami :News Real Estate Editbr'''.
For the second time within a
Iyear, the Macfadden - Deauville
'Hotel, Collins Avenue at 67th
Street, has changed hands, The
Miami News learned today.
The new owner is Miami Beach
hotelman Sam Cohen, who pur-
chased the 99-year lease from a
group that included Irving Pol-
lack, Charles Yavers and Nat
Herzfeld. Under the terms of the
lease, Cohen will pay a reported
$120,000 a year.
Cohen, at present, owns and
operates the Casablanca and
Sherry Frontenac Hotels. It is
understood that demolition of the
Macfadden-Deauville, which had
been halted, will be resumed im-
mediately to make way for a 400
to 500 room hotel.
On Feb. 23, this year, The
News exclusively reported that
the Pollack-Yavers combine had
purchased this landmark of Mi-
ami's boom days, which had,
been built by the late Bernarr
Macfadden and later owned by
the late Princess Lucy Cotton
•Eristavi-Tchitcherine.
Pollack and Yavers built the
Nautilus Hotel, which they sold
two years ago. The Macfadden
Deauville hotel, once valued at
$3,000,000, was acquired in 1950;
by E. M. Loew, owner of a New
England theater chain and the
Latin Quarter night clubs in New
York and Miami Beach. He re-
portedly paid $700,000 for the
oceanfront property.
Today's transaction, in which
no figures were disclosed, was-
negotiated by Joe Cohen, Miami
Beach Realtor.