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.
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