Tommy Hilfiger’s Raleigh purchase price revealed

Miami /
Apr.April 17, 2014 11:15 AM

Tommy Hilfiger’s paid $56.5 million for the Raleigh Hotel in South Beach, The Real Deal has learned.

Miami-Dade recorded the fashion icon’s purchase of the 1775 Collins Avenue hotel by Hilfiger’s Elmira Miami on Wednesday, according to county records. The seller of the 105-room hotel, a partnership between W South Beach developer David Edelstein and sbe founder, chairman and CEO Sam Nazarian, paid $55 million for the two-property site in December 2012. Nazarian’s company is staying on as manager of the hotel.

Hilfiger is making his first foray into the hospitality industry with the Raleigh. He is expected to begin a major renovation of the hotel soon. The property is considered the flagship for Hilfiger’s the Raleigh Group, according to company’s written statement announcing the hotel acquisition.

State corporate records identify David Pisor as CEO of New York-based Elmira Miami. Pisor is running Hilfiger’s new hospitality firm.

“The location and position of the Raleigh in the Miami Beach marketplace is perfect for our strategy,” Pisor said in the company’s statement. “We will invest significant resources to preserve the property’s unique style while embracing the local flavors and culture that help define it.”


Related Articles

arrow_forward_ios
David Gebbia and renderings of the property (Realtor.com, Getty)
Real Housewife of Beverly Hills’ ex-husband buys non-waterfront Palm Island house for record $6M
Real Housewife of Beverly Hills’ ex-husband buys non-waterfront Palm Island house for record $6M
Key International, Wexford snatch Pompano Beach Marriott for $54M
Key International, Wexford snatch Pompano Beach Marriott for $54M
Key International, Wexford snatch Pompano Beach Marriott for $54M
Dave Grutman and Jeffrey Soffer
WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
Vanilla Ice and Mark Alfieri
Vanilla Ice is back with a new home makeover show based in South Florida
Vanilla Ice is back with a new home makeover show based in South Florida
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
Wyndham Grand in Hollywood by Sharon Sharaby
Kosher hotels planned near Seminole Hard Rock Hotel & Casino
Kosher hotels planned near Seminole Hard Rock Hotel & Casino
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
Miami Beach state of mind: Hotelier buys Billy Joel’s former waterfront North Bay Road home
The Standard hotel-branded condos are coming to Midtown Miami
The Standard hotel-branded condos are coming to Midtown Miami
The Standard hotel-branded condos are coming to Midtown Miami
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...