The Tony Hotel South Beach has changed ownership in a $16.5 million off-market transaction, closing a nearly 40-year chapter for the Goldman family. The 52-room Art Deco property at 801 Collins Avenue will remain in operation as its new owners prepare a multimillion-dollar renovation, expanded accommodations and a new restaurant concept.
Key takeaways
The transaction places the historic South Beach hotel under the control of French hospitality operators Philippe Le Guennec and Benjamin Debard. Key details include:
- The property sold for $16.5 million in an off-market deal.
- The hotel has 52 rooms and sits between Collins Avenue and Ocean Drive.
- The buyers plan a major renovation and will continue operating the hotel.
- A neighboring leased building could add 21 guestrooms.
- Wish Café is expected to be replaced by an unannounced restaurant concept.
New ownership expands Miami Beach presence
An entity connected to Le Guennec and Debard acquired the hotel, adding to the operators’ growing South Florida portfolio. Their holdings include the Kimpton Angler’s Hotel, purchased for $43.5 million last year. Le Guennec has also previously owned and sold Hotel St. Augustine in Miami Beach.
The new owners intend to operate both the hotel and its restaurant directly, pairing the acquisition with a broader hospitality strategy in Miami Beach.
Renovation and expansion plans
The Tony Hotel is slated for a multimillion-dollar renovation, although specific design details and a construction timeline have not been announced. The buyers have also leased a neighboring Ocean Drive building that backs up to the hotel.
That additional space is planned to accommodate 21 guestrooms, potentially increasing the operation from 52 rooms to 73. The expansion would allow the property to grow while preserving its central South Beach location.
The existing Wish Café is also expected to give way to a new dining concept. The replacement restaurant has not yet been revealed.
A historic South Beach property
The hotel occupies a double corner lot steps from Ocean Drive and the Atlantic Ocean. Its amenities include an ocean-view rooftop pool and bar, while its architecture reflects the Art Deco character that helped define Miami Beach.
Originally opened as the Tiffany Hotel, the property was designed by architect L. Murray Dixon. It underwent a renovation in 1998 while retaining its historic identity.
Goldman family era comes to an end
The sale concludes approximately four decades of Goldman family ownership. Goldman Properties acquired the hotel in 1986 for $550,000, during a period when Tony Goldman played a major role in South Beach’s preservation and revival.
The hotel was renamed The Tony Hotel South Beach in 2022 to honor Goldman, who later helped spearhead the redevelopment of Wynwood and the creation of Wynwood Walls. The Goldman family remains active in Wynwood through development, ownership and arts-related initiatives.
The off-market transaction was represented by Susan Gale of Gale International at ONE Sotheby’s International Realty, who represented both sides of the deal.