Iconic Raleigh Hotel Reimagined as Part of this Distinguished Development, Offering a One-of-a-kind Luxury Living Experience
— Josh Stein, Miami Beach Real Estate Agent
MIAMI BEACH, FL, UNITED STATES, May 16, 2023/EINPresswire.com/ — Sales have officially launched at the ultra-exclusive Rosewood Residences at the Raleigh, Miami Beach, a unique and highly anticipated project by developer Michael Shvo. The three-acre oceanfront project, located on the iconic Collins Avenue, encompasses the redevelopment of the Raleigh, South Seas, and Richmond hotels, along with the construction of a 17-story, 44-unit luxury condo tower.
With just 44 private residences housed in a contemporary 17-story tower, the development is set to offer unobstructed ocean views, a private porte-cochere, and two distinct lobbies featuring an art gallery curated by acclaimed interior designer Peter Marino.
While the sales process has already commenced, the specifics regarding pricing and availability aren’t public and remain highly confidential. Potential buyers and investors are by invitation-only and potential buyers must be vetted and approved by Michael Shvo, the CEO of Shvo.
“The ultra-exclusive Rosewood Residences at the Raleigh, Miami Beach is more than a luxury living experience. It is a testament to the rich history and architectural elegance that Miami Beach represents,” said Josh Stein, Miami Beach Real Estate Agent.
Rosewood Hotels & Resorts, a global leader in luxury properties, will supervise the 60-key hotel’s operations, lending its celebrated brand to the condo tower planned by Shvo. The project will beautifully merge the old and the new, as it involves the restoration and renovation of the existing hotel buildings, in addition to the new construction. Esteemed New York architect Peter Marino, in collaboration with Kobi Karp Architecture & Interior Design, has masterfully designed the ambitious plans for this unique property.
The Raleigh, a Miami icon, has had its redevelopment plans in progress for several years. Constructed in the 1940s by famed Miami architect Lawrence Murray Dixon, the Art Deco tower, unfortunately, closed its doors in 2017. Tommy Hilfiger and Dogus Group, who purchased the property in 2014, initially planned to transform it into a private club. However, the property remained unused for years.
In 2019, Shvo and his partners acquired the hotel from Hilfiger and Dogus for $103 million. This marked one of the highest per-room sales in Miami-Dade County. Together with Serdar Bilgili’s Bilgili Holdings and Deutsche Finance America, Shvo paid approximately $243 million for all three adjacent hotels. The ensemble spans about 3 acres, boasting a 220-feet ocean frontage.
The Raleigh’s restoration will include the revival of the Martini Bar and Tiger Room. In addition, the developer announced plans last year for a private member’s club with beachfront dining.
The Rosewood Miami Beach will be the first Rosewood-branded development in South Florida. Given the thriving real estate market in the region, this project is poised to elevate the standard of luxury living, providing a unique combination of history, style, and modern opulence. This exciting development signifies a new chapter for Miami Beach and South Florida’s luxury real estate scene.
The development is expected to further solidify Miami Beach’s reputation as a prime destination for luxury living and investment. Adjacent to the Raleigh project, Witkoff and Monroe Capital have also chosen Douglas Elliman to lead sales for the Auberge-branded 110-room hotel and 49-unit condo development at the Shore Club property, at 1901 Collins Avenue. This further adds to the excitement in the local market, with condo prices starting at a cool $6 million.
Meanwhile, other high-profile projects along the Miami Beach oceanfront are making waves. Developer Vlad Doronin and investor Len Blavatnik are currently working on the Aman Residences, a luxury condo project located at 3425 Collins Avenue, which is currently under construction.
The revival of the Raleigh, under the expert guidance of Shvo and Deutsche Finance, marks the beginning of a new era in Miami Beach’s storied architectural history. Not only will the project pay homage to the rich cultural past of the iconic Art Deco tower, but it will also introduce modern design elements, setting a new standard for luxury and style in the area.
This project’s success serves as a testament to the resilience and growth of the South Florida real estate market, which continues to attract high-profile developers and discerning buyers from around the world.
For more information about this project, potential buyers and interested parties are encouraged to reach out to Josh Stein, the go-to Miami Beach real estate expert. With more than 25 years of experience and deep knowledge of the local real estate scene, Josh can provide an unparalleled level of guidance and service.
About Josh Stein:
Josh Stein is a recognized Miami Beach real estate expert with extensive knowledge in luxury properties. With a reputation for professionalism, discretion, and exceptional service, Josh Stein has become a trusted name in the Miami Beach luxury real estate market.
Founded by Michael Shvo, Shvo is a real estate development firm committed to creating unique and luxurious living experiences. The company is known for its meticulously designed properties that combine high-quality materials, exceptional locations, and keen attention to detail.
Josh Stein Realtor
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