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.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
