The Goodtime Hotel in Miami, which Pharrell helped launch with David Grutman in 2021, has officially changed ownership after a foreclosure auction. While the winning bid was only $100, the hotel wasn’t actually worth that amount. The lender, CIM Group, had already won a $204.7 million foreclosure judgment, allowing it to take ownership with a symbolic $100 “credit bid.”
This is a legal process that also helps reduce certain taxes. Pharrell and David Grutman were no longer involved with the hotel after 2024. The property had been facing financial troubles for some time, including missed loan payments and lawsuits over unpaid bills. The Goodtime Hotel opened in 2021 as a colorful, Miami-inspired boutique hotel and became known for its popular Strawberry Moon pool parties during events like Miami Music Week.
