Earlier this month, during Art Basel Miami Beach week, New York real estate builder Michael Shvo hosted more than 200 guests in the backyard of The Raleigh Hotel that he’s transformed into The Raleigh Gardens. Shvo bought the iconic Miami Beach Hotel at 1775 Collins Avenue for $103 million from Tommy Hilfiger and his partners in February. Seven months later, he paid a combined $139 million for two neighboring Art Deco hotels, the South Seas and the Richmond. In addition to renovating the three historic properties, Shvo plans to build a 200-residential tower behind the South Seas and the Richmond.
Kobi Karp, the Miami-based architect whose firm is designing the 2.9 acre development, said the city of Miami Beach has approved a plan to restore the original facades to all three retro buildings, which were designed by Lawrence Murray Dixon, considered one of the masters of the Art Deco style. “It creates an assemblage of three individual buildings with the Raleigh being the corner feature building,” Karp said.
Shvo said work on the Raleigh broke ground in May. On Nov. 22nd, Shvo and his partners Bilgili Holdings and Deutsche Finance unveiled the Raleigh Gardens, which he said marks the latest step in the restoration and renewal of the hotel, along with adjacent properties, The Richmond and South Seas.