Andre Balazs Exits Miami with Sale of the Raleigh

By Kyle Munzenrieder Wed., Sep. 9 2009 at 11:51 AM

Categories: Recessionomics

The Raleigh - South Beach Miami Hotel.jpg

First the models began leaving South Beach, and now, almost predictably, so is painfully hip hotelier Andre Balazs. According to the Miami Herald, Balazs is set to sell the Raleigh, which the newspaper describes as "a favorite stop for celebrities and local hipsters."

The sale will take Balazs almost completely out of town. Though his company still operates the Standard in Miami Beach, he sold the property last year.

Is this another sign South Beach is losing its edge? The first strike on another nail in SoBe's coffin?

The Raleigh has hosted a slew of painfully hip events over the years, including Chanel's 2009 Cruise Collection fashion show, the launch of Cavali Vodka, and an exclusive performance by the Gossip during last year's Art Basel. Will the new owner be interested in keeping it a favorite spot of "local hipsters"? Doesn't anyone ever think about the "local hipsters"?

Anyway, Balazs is said to be focusing on his Standard brand of hotels, such as the newly opened Standard in New York's Meatpacking District -- the first hotel that explicitly caters to the needs of the jet-setting exhibitionist.