Shvo Taps Official for Sales of Rosewood Raleigh Miami Beach
Developer Michael Shvo tapped Oren and Tal Alexander’s Official to lead sales of the planned Rosewood Residences at the Raleigh in Miami Beach, The Real Deal has learned.
Shvo and Deutsche Finance are redeveloping the Raleigh, South Seas and Richmond hotels along the oceanfront at 1751, 1757 and 1775 Collins Avenue. Rosewood Hotels & Resorts will manage the 60-key hotel and brand the 17-story, 44-unit condo tower that Shvo plans to build.
The project also calls for restoring and renovating the existing hotel buildings. New York architect Peter Marino designed the plans along with Kobi Karp Architecture & Interior Design.
Sales are underway. A spokesperson for Shvo said pricing information isn’t public, and visits to the sales center, which it calls the Raleigh Pavilion, are invitation-only. The firm declined to comment further.
Oren Alexander, co-founder of Official, the Side-backed brokerage firm that he and his brother launched last year, could not be reached for comment.
The two-story sales center is on the Raleigh property and was personally designed by Marino, a source said. Presales so far are to “friends of” Marino, Shvo and Rosewood VIPs. All buyers have been interviewed and approved by Shvo CEO Michael Shvo, the source said.
The planned redevelopment of the Raleigh has been in the works for years. The iconic Art Deco tower was built in the 1940s by Miami architect Lawrence Murray Dixon, and closed permanently in 2017. Fashion designer Tommy Hilfiger and Dogus Group bought the property in 2014 for $67.5 million, with plans to turn it into a private club, but the shell of the property sat vacant for years.
Hilfiger and Dogus sold the hotel to Shvo and his partners in 2019 for $103 million, or over $1.2 million a key. That deal marked one of the highest per-room sales in Miami-Dade County. Shvo, Serdar Bilgili’s Bilgili Holdings and Deutsche Finance America paid about $243 million for all three adjacent hotels in 2019. The assemblage totals about 3 acres with 220 feet of ocean frontage.
Bilgili and Shvo’s partnership fell apart and Bilgili exited the project once they settled litigation between the two firms.
The restoration of the Raleigh will include the Martini Bar and Tiger Room, and the overall project is expected to have a private member’s club with beachfront dining, the developer said last year.
Shvo’s other projects in Miami Beach include the planned gut renovation of 407 Lincoln Road, an office tower with the iconic digital clock on the roof; and two new planned office buildings on Washington Avenue and Alton Road.
Nearby in Miami Beach, Witkoff and Monroe Capital tapped Douglas Elliman to lead sales of the planned Auberge-branded 110-room hotel and 49-unit condo development at the Shore Club property, at 1901 Collins Avenue. Condo prices start at $6 million. The Shore Club also has been shuttered for years. Robert A.M. Stern Architects and Kobi Karp’s firm are the architects.
Also on the Miami Beach oceanfront, developer Vlad Doronin and investor Len Blavatnik are planning Aman Residences, The luxury condo project at 3425 Collins Avenue is under construction.
The Rosewood Miami Beach will mark the first Rosewood-branded development in South Florida. Dezer Development and Miami-based Related Group are planning a 92-unit luxury Rosewood-branded condo in Hillsboro Beach. The future of that project is unclear after a Fort Lauderdale court recently struck down a height variance for the proposed 10-story development.
