search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudBank of Southern California puts Neil Shekhter portfolio up for saleBank of Southern California puts Neil Shekhter portfolio up for saleLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlords
Commercial
South Florida

Bulgari plans first US hotel on oceanfront Miami Beach site

Seagull Hotel sold in January for $120M

Bulgari CEO Jean-Christophe Babin and 100 21st Street, Miami (Bvlgari via Twitter, Getty, iStock)
Bulgari CEO Jean-Christophe Babin and 100 21st Street, Miami (Bvlgari via Twitter, Getty, iStock)

 

Italian luxury house Bulgari plans to open its first hotel in the U.S. in Miami Beach.

Bulgari announced plans to redevelop the oceanfront property at 100 21st Street, previously home to the Seagull Hotel Miami Beach. The 100-room hotel, which is permanently closed, sold to Blue Horizon Group in January for $120 million.

Bulgari expects to open a 100-key hotel by 2024, according to a press release. Amenities will include an outdoor pool, spa and fitness facilities. The Italian architectural firm Antonio Citterio Patricia Viel will handle restoration and design work.

Sign Up for the undefined Newsletter

The Seagull, which was built in 1948, was expected to be redeveloped into a luxury hotel after Lionheart Capital and Actium Development Co. sold the property. The joint venture had purchased it at auction for about $31 million two years earlier.

Blue Horizon, the independent private investment arm of a family office, is led by CEO Nabil Kobeissi.

The Bulgari Miami Beach will mark the 11th hotel for the brand, which has properties in Milan, London and Dubai. Locations in Paris, Rome, Moscow and Tokyo are also in the pipeline.

Luxury hotel group Aman is also planning to expand to South Florida. Developer Vlad Doronin and investor Len Blavatnik are planning a 56-key hotel and 23 luxury condos for the Faena District site at 3425 Collins Avenue in Miami Beach.

Last month, the three families that own Ritz-Carlton hotels in South Beach and Bal Harbour, as well as the Sagamore Hotel in Miami Beach, merged ownership of their properties.

Tags
HotelsMiami Beach