The shuttered Delano South Beach is a far cry from its wild party nights—Madonna celebrated her 37th birthday there in 1995—and lazy days by the pool, one of the few bikini top-optional spots on Miami Beach.
The Art Deco building has remained quiet for eight months after closing because of the coronavirus pandemic, but a Connecticut investment manager saw future value judging by its recent purchase.
Eldridge, a Greenwich-based holding company with a diversified portfolio, bought the Delano from SBE Entertainment Group LLC, a major hotel owner based in New York.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
