Miami Press Reports on Goldberg Client Raleigh Hotel’s Finalization of Sale to Tommy Hilfiger
As widely reported in publications including the Miami Herald and the South Florida Business Journal, clothing designer Tommy Hilfiger closed on the purchase of the iconic Raleigh Hotel in South Beach, with plans to turn it into an exclusive private club and hotel, following a “transformational renovation.” Olshan client David Edelstein, developer and owner of the W South Beach, along with co-owner Sam Nazarian, chairman and CEO of Los Angeles-based SBE, purchased the hotel in December 2012. Goldberg represented Edelstein in the sale. As noted in the Miami Herald, this sale demonstrates “how important the region has become to hotel investors,” with investment in the Miami luxury market exploding. Over the past six months Eric Goldberg has been involved in a number of high-profile representations in the South Florida hotel and luxury commercial market, including W South Beach Hotel’s $140 million refinancing and Tristar Capital’s joint venture with The Principal Life Insurance Company at 530 Lincoln Road in Miami Beach.