Sales to relaunch at Miamis failed $1B Raleigh Hotel redevelopment, with a fresh team
The $1 billion transformation of the Raleigh Hotel on Miami Beach is dead — long live the Raleigh. With Michael Shvo and the disgraced Alexander brother brokers (now on trial in New York for a series of alleged rapes) off the redevelopment of the Art Deco building at Collins Avenue and 18th Street, a new sales team for the stalled project has finally been announced.Compass will relaunch sales for a redesigned complex, which promised a Rosewood Hotel and the beach’s priciest residences. Nahla Capital purchased the site for $270 million last October. Thankfully, Rosewood is still on board to brand the residences and manage the hotel.New York-based Nahla, led by Genghis Hadi, previously developed Rosewood’s successful 27-unit Rosewood Residences Beverly Hills.“We are working closely with our partners to bring to life an exceptional experience across the hotel and residences,” a Rosewood spokeswoman said in an email.Still, the transition from Shvo to Nahla hasn’t been smooth.
Starchitect Peter Marino had been tapped to redesign the entire three-acre site and new 17-story tower with 40 residences, but has since withdrawn from the project leading to a new $10 million lawsuit.The architects of record, Miami’s Kobi Karp Architecture, are still involved.
They did not return requests for comment.“Peter’s design is sophisticated and detailed,” an inside source told The Post.“You can’t do a half ass Peter Marino building — you are either all in or out.”Nahla will also have to obtain the blessing of Miami’s Historic Preservation Board for any new condo tower, any re-massing of the top or any landscaping at the 3-acre compound.
The same goes for ground floor renovations to the Art Deco elements at both the Raleigh and the two smaller hotels to the south, The Richmond and the South Seas, that were to be incorporated into the Raleigh grounds.The new Compass Development Marketing Group team for the future tower includes: Miltiadis Kastani...