The Raleigh, one of Miami Beach’s most famous hotels, was sold by New York’s Michael Shvo after the developer spent years and millions of dollars attempting to restore the art deco icon.
Luxury real estate developer Michael Shvo sells stalled Miami Beach project
New York private equity group buys historic art deco hotel
CoStar News
October 22, 2025 | 7:35 P.M.
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In
IN THIS ARTICLE
- Properties
- Rosewood The Raleigh Miami Beach
1775 Collins Ave, Miami Beach, FL
- Richmond Hotel
1757 Collins Ave, Miami Beach, FL
- South Seas Hotel
1751 Collins Ave, Miami Beach, FL
- SLS South Beach Miami
1701 Collins Ave, Miami Beach, FL
- Companies
- SHVO Inc
Construction
- Contacts
- Michael Shvo
Chairman & Chief Executive Officer, SHVO Inc