Fashion designer Tommy Hilfiger is in talks to buy the Raleigh Hotel in South Beach just over a year after it last sold. W South Beach developer David Edelstein and Sam Nazarian, the founder, chairman, and CEO of SBE, paid $55 million for the landmark Art Deco hotel in 2012. The new purchase price has not been released and the deal has not yet closed. According to a statement released on behalf of the sellers and Hilfiger, conversations about the deal started during Art Basel Miami Beach last year. Hilfiger is actively working toward making The Raleigh a flagship property under his new company, Hilfiger Hospitality. The hotel is operated by SBE, which also operates the SLS Hotel South Beach and the Redbury. Read more over at the Miami Herald.