Cipriani Ocean Resort and Club Residences

Giuseppe Cipriani, the operator of New York’s Rainbow Room and other restaurants and catering halls in New York said, “The fact that we have been able to close this loan during this challenging time for construction financing demonstrates the quality of the project and the confidence the lender has in its future success”.

Giuseppe Cipriani will transform the old Saxony Hotel into a 170 room condo-hotel just 6 blocks from South Beach.  will open in Miami and Los Angeles. The group has bought the shuttered Saxony Hotel, which is being transformed into a condominium complex and a 170-room condo-hotel.

In branding their $250 million project the Cipriani Resort and Residences South Beach, the developers have linked the oceanfront complex at Collins Avenue and 32nd Street to a name best known for high-end entertaining in the Big Apple.

“I see nothing like what we’re going to achieve there,” Cipriani said, before ticking off the faults of some of the region’s top hotels. They also have plans for Los Angeles at a later date.