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Owner of Bâoli, Massa Investment Group, Acquires Miami Beach's Paris Theater For $13 Million

Owner of Bâoli, Massa Investment Group, Acquires Miami Beach's Paris Theater For $13 Million

July 24, 2020

Massa Investment Group has acquired Miami Beach’s Paris Theater, located at 550 Washington Ave., for $13 million; $508 per square foot. The Art Deco building, which was first built in 1935, spans 25,589 SF. The building was designed by architect Henry Hohauser and has operated over time as a cinema, adult movie house, nightclub and film studio.

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In Acquisitions, Commercial, Finance & Banking, Historic, Hospitality, Invest, Investment News, Miami Beach, News, News & Features, Private Equity, Restaurants, Retail, South Beach, Traded, Nightlife Tags Bâoli, Marion, Marion Miami, Bâoli Miami Beach, El Tucan, El Tucan Miami, Retail, Restaurants, Nightlife, Paris Theater, Miami Beach, South Beach, Commercial, Traded, Acquisitions, Featured, 550 Washington Ave., Washington Avenue, Art Deco, Henry Hohauser, Massa Investment Group, IberiaBank, Private Equity, Mr. Hospitality, Big Time Productions, Lending, Financing, Finance, Finance & Banking, Invest, Investment News, Historic, Hospitality, Banking, Mathieu Massa
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NNN Leased Pollo Tropical Building on Biscayne Blvd. in Mimo Trades For 4.61% CAP

NNN Leased Pollo Tropical Building on Biscayne Blvd. in MiMo Trades For 4.61% CA

July 23, 2020

A NNN leased Pollo Tropical stand-alone restaurant building located on Biscayne Blvd/ US-1 in Miami’s MiMo district, has traded for $2.275 million, equating to a 4.61% CAP rate. The 1,754 SF restaurant building sits on a 12,800 SF lot located at 7501 Biscayne Blvd in Miami, FL.

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In Acquisitions, Commercial, Invest, Investment News, News, Mimo, Restaurants, Retail, Sales Update, Traded, Upper East Side, Private Equity Tags Invest, Investment News, Pollo Tropical, Biscayne Boulevard, MiMo, Mimo, Upper East Side, News, Traded, NNN, Private Equity, Alex Zylberglait, Scott Sandelin, Jonathan De La Rosa, Marcus & Millichap, Jason Abitbol, Apex Capital Realty, 995 Holdings LLC., 7501 Biscayne LLC., Alex Karakhanian, LNDMRK Development, Commercial, Retail, Restaurants, Acquisitions, Sales Update
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Brickell City Centre Announces New Retailers And Restaurants Opening In 2020

Brickell City Centre Announces New Retailers And Restaurants Opening In 2020 Despite COVID-19

June 19, 2020

Brickell City Centre (BCC), an open-air shopping, dining and entertainment destination developed by Swire Properties in Miami’s financial district, Brickell, has announced new retailers and first-of-its-kind restaurants which will be opening this summer (2020) despite the COVID-19 shutdown.

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In Commercial, Brickell, Leasing, Leasing Update, News, Retail, Restaurants Tags Brickell City Centre, Swire Properties, News, Leasing Update, Leasing, Commercial, Retail, Restaurants, Brickell, Marabu, EST.33, Lucid Motors, Los Chinos, Indochino, David Martin, Lucid Air, BCC, Featured
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Malls Across Miami Are Reopening Today As Miami Enters Phase 1 Of Reopening

Malls Across Miami Are Reopening Today As Miami Enters Phase 1 Of Reopening From The COVID-19 Shutdown

May 18, 2020

“Although we live in a city without seasons, this feels like Spring,” said Miami Design District visionary Craig Robins as Miami enters Phase 1 of its reopening plan. As per approval by Governor Ron DeSantis, Miami-Dade and Broward County can begin to reopen as of today, May 18, 2020, following the COVID-19 lockdown that has marred the United States since early March.

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In Bal Harbour, Commercial, COVID-19, Design District, Miami Design District, News, Retail, Restaurants Tags Craig Robins, News, Commercial, Retail, Restaurants, Ron DeSantis, COVID-19, COVID19, COVID, Coronavirus, Miami Design District, Design District, Bal Harbour Shops, Bal Harbour, Brickell City Centre, Aventura Mall, Sawgrass Mills, Miami-Dade County, Broward, Featured
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Clockwise from the top-left corner: James Tate, Demetri Demascus, Shahab Karmely and W. Allen Morris.

Clockwise from the top-left corner: James Tate, Demetri Demascus, Shahab Karmely and W. Allen Morris.

Why Rent Strikes Are Bad for Everyone and What’s Going to be Done about Unemployment?

May 5, 2020

Since thousands of businesses were deemed non-essential and forced to shut their doors, reemployment assistance claims over the last six weeks have surpassed two million in South Florida. With a tourism-dependent economy plus an older population, Florida is more vulnerable to economic shock, which is why it is one of the top five states with the highest number of claims.

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In Affordable Housing, Commercial, COVID-19, Education, Events, Executives, Invest, Investment News, Market Insight, Miami-Dade County, Multifamily, News, Panels, PROFILE Exclusive, Public Health, Residential, Rentals, Restaurants, Retail, Webinar Tags Shahab Karmely, Kar Properties, Jimmy Tate, James Tate, Tate Capital, Allen Morris, Allen Morris Company, Katya Demina, Demetri Demascus, rent strike, landlords, pension fund, life insurance fund, rent control, COVID-19, Coronavirus, coronavirus impact on real estate, Featured
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Oasis Hallandale Reveals New Renderings For 10-Acre Mixed-Use Development

Oasis Hallandale Reveals New Renderings For 10-Acre Mixed-Use Development

April 7, 2020

Oasis Hallandale is a new multi-block district of residences, shops, restaurants, urban parks, and offices designed by Bernardo Fort-Brescia of Arquitectonica that will soon become a pedestrian-friendly city center to the city of Hallandale Beach. The development is located at 1000 E Hallandale Beach Blvd. Hallandale Beach and is estimated to be completed in 2025.

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In Commercial, Hollywood, Hallandale Beach, Mixed Use, New Construction, News, Residential, Retail, Restaurants Tags Oasis Hallandale, News, New Construction, Giuseppe Iadisernia, Hallandale Oasis 2019 LLC, 1000 E Hallandale Beach Blvd., Hallandale Beach, Hollywood-Hallandale Beach, Norma Campos, Oasis Realty, Arquitectonica, Bernardo Fort-Brescia, Mixed Use, Commercial, Residential, Retail, Restaurants, Featured
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Beaches in Miami-Dade County have been closed.

Beaches in Miami-Dade County have been closed.

Tracking COVID-19 By The Numbers: Breaking News In South Florida

March 27, 2020

(Last Updated 6:14 AM 3/27/2020):

BREAKING: 

  • City of Miami officials have announced a curfew for its residents that will begin Friday night. According to officials, all residents must be indoors from 10 p.m. until 5 a.m. (3/27/2020)

  • Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)

  • All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)

Continue to check back for updates to below as we continue to track COVID-19 across South Florida:  

Stats:

  • Number of Cases in Florida: 830+ (3/23/2020)

  • Fatalities in Florida: 13+ (3/23/2020)

  • Number of Global Cases: 351,000+ (3/23/2020)

  • Global Fatalities: 15,321+ (3/23/2020)

  • Number of U.S. Cases: 35,075+ (3/23/2020)

  • Fatalities in the U.S.: 458+ (3/23/2020)

Miami-Dade County:

  • Miami-Dade County # Cases: 2900+ (3/27/2020)

  • BREAKING: Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)

  • CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)

  • Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)

    • All bars and nightclubs will be closed for 30 days.

    • Restaurants will only be able to operate at half capacity.

    • Exceptions granted if they have a capacity of 10 people or less.

    • Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.

  • Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)

    • Miami-Dade Public Schools have closed this week and next. (3/16/2020)

  • Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)

  • Officials have closed the beach from 5th to 15th Street, including Lummus Park.

  • All city parking garages are closed to non-residents.

  • In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)

    • Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.

  • An entertainment district curfew will go into effect at 11 p.m.

  • All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.

  • Ultra Music Festival has been cancelled.

  • Miami Music Week has been cancelled.

  • ArtScape Concert has been cancelled.

  • The Miami Open Tennis Tournament has been cancelled. 

  • University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)

  • University of Miami Spring Commencement postponed until December. (3/20/2020)

  • The Hardrock Seminole Hotel & Casino has suspended entertainment operations. 

  • Calle Ocho Festival has been cancelled.

  • Mayor Francis Suarez has confirmed that he has COVID-19.

Broward County:

  • Broward County # Cases: 180+ (3/23/2020)

  • Broward County Public Schools are now closed through at least April 15. (3/19/2020)

  • Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.

  • Restaurants and bars must close by 10 p.m.

  • Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.

  • The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.

  • The Wharf Fort Lauderdale is closed until further notice.

  • The listed measures will remain in effect until April 12.

Palm Beach County:

  • Palm Beach County # Cases: 59+ (3/23/2020)

  • Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)

  • Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)

  • Beaches will be closed on Tuesday 3/17/2020

  • Nursing Homes and Assisted Living Facilities are closed to visitors.

  • Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)

National:

  • BREAKING: The Federal Government has passed a $2.2 trillion stimulus package.

  • United States of America # Cases: 35,075+ (3/23/2020)

  • United States of America Fatalities: 458+ (3/23/2020)

  • Income tax filing deadline moved to July 15 (3/20/2020)

  • Foreclosures and HUD evictions have been halted for 60 days.

  • CDC recommends ban on gatherings of 10+ people. 

  • The Players Championship was cancelled & PGA Tour is suspended.

  • NBA, NHL, MLB and MLS have suspended their seasons. 

  • All ski resorts have closed.

In Affordable Housing, Brickell, Closed, Commercial, Community, Construction, Construction News, Downtown, Education, Fort Lauderdale, Hospitality, Hotels, Key Biscayne, Market Report, Miami Beach, Miami-Dade County, Multifamily, N Miami Beach/ Aventura, New Construction, News, North Miami, Palm Beach, Palm Beach County, PortMiami, Public Health, PSA, Restaurants, Retail, Senior Living, South Beach, Travel Tags COVID-19, COVID19, Coronavirus, Mayor Carlos Jimenez, Mayor Francis Suarez, Featured
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Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

March 17, 2020

Melo Group, one of Downtown Miami’s preeminent real estate development firms, is getting ready to open their latest residential tower addressing two of the city’s most-pressing issues, housing affordability and traffic.

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In Arts + Entertainment Dist, Construction, Construction News, Construction Update, Commercial, Downtown, Multifamily, New Construction, News, Rentals, Residential, Restaurants, Retail, Sales Update, Leasing Tags Melo Group, Downtown, Downtown Miami, News, Sales Update, Martin Melo, Bunbury, Bistro Cafe, Tapout Fitness, My Salon, Spot Barbershop, Shine Nail Salon, New York Roma Pizza, Testa Wines, Art Kitchen, Art Plaza, Melody Tower, Square Station, Miami Plaza, Jose Luis Melo, Carlos Melo, New Construction, Residential, Apartments, Apartment Rentals, Rentals, Construction News, Construction, Construction Update, Leasing Launch, Arts + Entertainment District, Arts + Entertainment Distr, A&E District, Commercial, Retail, Restaurants, Multifamily, Mixed Use
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NeueHouse Miami - Courtesy of NeueHouse.png

NeueHouse Announces Casa Tua Partnership and Miami Expansion

March 10, 2020

NeueHouse, the private workspace and cultural home for creators, innovators and thought-leaders, has announced its expansion into Miami, bringing its US locations to a total of five. NeueHouse Miami, in partnership with private members’ club, hotel and restaurant, Casa Tua, will be the second east coast location, alongside NeueHouse Madison Square, located in Manhattan. The build out of the space, located on the border of Midtown and Design District, is expected to be completed by late 2020.

“We are thrilled to bring NeueHouse to Miami in collaboration with Casa Tua to provide the local community with access to the best elevated work and event spaces, as well as refined hospitality and culture, which is true to our shared mission of delivering new and original concepts and experience,” said Josh Wyatt, CEO of NeueHouse. “A leader in art, design and fashion, Miami is an exciting addition for our members and growing community, and we’re looking forward to bringing our combined brand offering to the tastemakers and industry leaders of Miami.” 

To deliver on its hospitality promise and to captivate Miami’s discerning, local creative and entrepreneurial communities, NeueHouse’s Miami location will offer a culinary partnership with Casa Tua. Founded in 2001 by Italian-born visionary Miky Grendene and his wife Leticia Herrera-Grendene, Casa Tua’s flagship property, nestled in a historic villa in the heart of Miami Beach, is part culinary destination, part boutique hotel and private members club. NeueHouse Miami will offer F&B by Casa Tua, providing NeueHouse members their singular approach to soulful Italian cuisine and impeccable service.

“We are excited to partner with NeueHouse for their first Miami venture,” says Grendene. “Both Casa Tua and NeueHouse are committed to offering best in class experiences in each city we operate. Our brands share a similar DNA and passion for developing cultural communities and meaningful hospitality experiences. With this natural synergy, together we will achieve a far greater result through this strategic partnership. We look forward to creating something unbelievable with NeueHouse and supporting the City of Miami’s growth in this emerging cultural corridor.” 

The property is slated to open in late 2020, adding to the list of notable activities, which have taken place in recent months, including a series of cultural events in partnership with Frieze art fair, highlighted by the commission of a notable piece of public art by the iconic Barbara Kruger.

NeueHouse, which raised $30 million in funding in Fall 2018 under the new leadership of CEO Josh Wyatt, continues to innovate across workspace design and hospitality and scaling its cultural programming platform, to deliver a truly differentiated experience to a community of original thinkers and thought-leaders. Both the New York and Los Angeles flagship locations (Madison Square and Hollywood) are at capacity and have waitlists, including the latest luxury private suite product, Eleven Madison Square. 

NeueHouse offers four membership tiers.

In Co-Working Space, Commercial, Hospitality, Miami Beach, Restaurants Tags Neue House, Casa Tua, Josh Wyatt, Miky Grendene, Barbara Kruger, Featured
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$45 Million Trophy Office Building for the 1% Hits the Market in South of Fifth

February 7, 2020

The Yukon Miami, which commands one of the highest per square foot rents in Florida at $78 per square foot, is located at 119 Washington Avenue in Miami Beach’s affluent South of Fifth neighborhood. The Arquitectonica-designed office building has just hit the market for $45 million. Amit Egan Datwani of The Global Consulting Organization and Cyril Bijaoui of The Company Real Estate are representing the seller. 

The 43,140-square-foot commercial office building is the only Class A office building located in the South of Fifth enclave steps away from world-class, record revenue breaking restaurants, including Joe’s Stone Crab, Estiatorio Milos, and Prime 112.

In addition to its prime location, The Yukon Miami features more than 8,000 square feet of available rooftop terrace space with 360-degree views of the Atlantic Ocean, Miami Beach, and Downtown Miami, the largest commercial roof and deck space in South of Fifth.

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“Nestled between Fisher Island (the richest zip code in the United States) and the revitalized Washington Avenue only enhances the locational appeal of the South of Fifth neighborhood,” said Amit Egan Datwani, founder and chief consultant at The Global Consulting Organization. “The Yukon Miami is the ideal opportunity for a visionary investor that understands this and has the ability to transform the property from a trophy asset to an absolute gem.”

Premier tenants include One Sotheby’s International Realty, Red Steakhouse, W5 Group (a global real estate investment platform), and several financial companies, including Boston-based Raptor Capital Management, Manhattan-based York Capital Management, and Sero Capital.

A private launch party to promote the building hitting the market will be held on The Yukon’s rooftop terrace next month.

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By Stephanie Warren

In Brokerage, Commercial, Invest, Miami Beach, Office Space, Restaurants, Retail, South Beach, South of Fifth Tags The Yukon, 119 Washington Avenue, Arquitectonica, Amit Egan Datwani, Global Consulting Organization, Cyril Bijaoui, South of Fifth, ONE Sotheby's International Realty, Sero Capital, Raptor Capital Management
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