distribution · May 18, 2026
CIM Group Secures $204.7 Million Foreclosure Judgment on Goodtime Hotel
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A Miami-Dade Circuit Court judge ordered a $204.7 million foreclosure judgment against the Goodtime Hotel in South Beach on May 13, 2026. CIM Group, which provided a $152 million loan in 2021, filed the suit in January 2026 against Washington Squared Owner led by Eric Birnbaum and Michael Fascitelli of Imperial Companies. The 266-room property at 601 Washington Ave. heads to auction on July 1, 2026, unless the owners pay the judgment. Pharrell Williams and David Grutman partnered on the hotel but have not been involved since 2024.
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