Soffer, who inherited one of the region’s most valuable real estate portfolios from his father Donald, is offering weekly charters of Mad Summer on various travel and yacht-oriented Web sites for the lofty rate of $1 million, not including expenses.
The Turnberry Associates chief executive, who led the $1 billion renovation of the Fontainebleau Miami Beach, paid $170 million for the 257-foot yacht. Mad Summer was built in 2008.
Messages left for Soffer at Turnberry’s Aventura headquarters were not immediately returned.
Turnberry is part-owner of the Fontainebleau Miami Beach. Dubai-based Nakheel Hotels owns a 50 percent stake in the resort.
A posting about Mad Summer on travel Web site jaunted.com promotes the opportunity to "Yacht Away the Recession for $1 Million a Week on Mad Summer."
German builder Lürssen built Mad Summer and, along with Moran Yacht & Ship, launched a Web site called yachtmadsummer.com. According to the site, Mad Summer has a full spa, a movie theater and a helicopter pad.
Soffer could probably use some Mad Summer rental revenue. The company behind Soffer’s $3 billion Fontainebleau Las Vegas project sought Chapter 11 bankruptcy protection. Billionaire investor Carl Icahn received court approval Wednesday to purchase the unfinished casino resort.
Soffer’s renovation of the Fontainebleau Miami Beach, which was not involved in the Las Vegas property’s bankruptcy, was successfully completed in November 2008.
Hopefully, Soffer will have better luck with his yachting venture than did his father.
Donald Soffer co-owned the infamous yacht Monkey Business, which was docked at the Turnberry Isle Resort and Club. It was aboard Monkey Business in 1987 that U.S. Sen. Gary Hart, D-Colo., who had long denied reports of marital infidelities, was photographed with model Donna Rice sitting on his lap.
The photo and Miami Herald reports of their relationship scuttled his presidential ambitions.
Of course, anyone who can pay $1 million to rent a yacht is probably savvy enough to party below decks.