Last week we reported that Crescent Heights is aiming to bring a CitizenM Hotel to 1212 Lincoln Road on Miami Beach. CitizenM continues to make a splash in Miami as they have purchased the Perricone's site via the entity CitizenM Miami Brickell Properties at 15 SE 10th St next to Allen Morris Park for $16.18 million. The development site is 10,965 SF and the deal reportedly includes a leaseback. It is also reported that Perricone's may open a new restaurant in the new hotel when completed. The hotel would further urbanize the fast-growing Brickell neighborhood which features Brickell Flatiron adjacent to the property, in addition to the new Brickell City Centre, Brickell Heights, SLS LUX (opening December 2017), amongst others.
The Real Estate Mogul's Guide to South Florida
