The Real Deal Miami

SoBe’s Raleigh up for sale: report

June 01, 2012 12:00PM

The Raleigh hotel in South Beach

South Beach’s Raleigh hotel is reportedly being marketed for sale, according to the New York Post. The paper reports that W South Beach developer David Edelstein is considering purchasing the property, which is located a few blocks south on Collins Avenue. Brilla Group, which is marketing the former Andre Balazs property, obtained a $20 million loan to renovate the property. While the Raleigh denied that the hotel had already been purchased by Edelstein, the hotel did confirm Edelstein was among the suitors. [NYP]