Tommy Hilfiger is buying the art deco Raleigh Hotel in South Beach, he has exclusively confirmed to Page Six.
The designer plans to turn the beachfront landmark into an exclusive private club and hotel.
Hilfiger has been talking to current owners David Edelstein and Sam Nazarian, who paid $55 million for the 1940 property in 2012.
Edelstein said he and Tommy had been discussing his new company, Hilfiger Hospitality, during Art Basel in December.
“The Raleigh immediately came to mind as a perfect match . . . Sam Nazarian and [Nazarian’s hotel group] sbe will continue to manage the property,” Edelstein added.
Hilfiger and his wife, Dee, last year bought a $24 million oceanfront home on Grand Beach in North Miami.
He told us, “I have for a long time been planning to create a hospitality business, and the Raleigh offers a unique opportunity in one of the most important cities in the world.”
We’re told the deal is still in the works and Hilfiger plans to restore the hotel to its original chic art deco style, and create a state-of-the art spa.