LEASED! ANOTHER DONE DEAL

Thursday, October 08, 2015
Tags:   LEASED! ANOTHER DONE DEAL

Romero Britto’s gallery to move to 532 Lincoln Road
After more than two decades at 818 Lincoln Road, Brazilian pop artist Romero Britto has inked a deal to move his gallery three blocks eastward on the Miami Beach pedestrian promenade, The Real Deal has learned.
Britto will lease space at 532 Lincoln Road, in a building owned since the late 1940s by Bob Quittner’s family, Lyle Chariff, president of Chariff Realty Group, told TRD.
Chariff, who has known Britto ever since he first opened his gallery on Lincoln Road next to Chariff’s mother’s Diamonds and Chicken Soup, told TRD that he offered Britto a rate 20 percent below market. Lincoln Road rents now approach $300 to $400 a square foot, he said.
“In this building we have the luxury to do whatever we want, since Bob [Quittner] has owned it for so long and his basis in the building is so low…. so we have the ability to undercut anybody if we want to on price,” said Chariff, who has represented Quittner for 15 years and was the only broker involved in the transaction.
The deal came together quickly, in what Chariff and Quittner consider an act of serendipity: Chariff called Quittner on his cellphone to discuss offering the space to Britto, while Quittner was on a Caribbean cruise — in the middle of an art auction where Britto’s works were the main attraction. The next day, Chariff ran into Britto at MC Kitchen in the Design District and told him he had an offer he couldn’t refuse.
“The next day we got together with his team and we had a deal in one day,” Chariff told TRD.
“If anybody deserves it, it is Romero because he is a true pioneer of Lincoln Road, and is what Lincoln Road was built on,” Chariff added. “We gave him a friends and family rate, and we are very happy.”
Britto’s gallery will have 2,700 square feet in the space formerly occupied by So Good Jewelry, whose 10-year lease has expired, Chariff said. Other tenants in the building include Guess. Bank of America, Kiehl’s and Ricky’s NYC. The site is across the street from H&M.
Britto had been looking for space for months, after his building was sold last year for $34.5 million. Miami-based 818 Lincoln Corp. sold the 8,375-square-foot building in May 2014 to 818 Lincoln Investments. Investor Danny Lavy is identified as the manager of the buying entity. The building is expected to undergo redevelopment.
Lincoln Road itself is expected to get a facelift, with a master plan proposing such improvements as adding public seating and outdoor space for art and performances, enlarging sidewalks and enhancing adjoining streets.
“We kept [Britto] on Lincoln Road, and we brought him further east to the 500 block, which is in between the tourists and the locals,” Quittner told TRD. “It is very prestigious for our building.”

LEAVE A COMMENT
 
Name
 
Email Address
 
URL
 
 
Comment
 
< Back
 
73 NE 40 ST-DESIGN DISTRICT RETAIL 73 NE 40 ST-DESIGN DISTRICT RETAIL73 NE 40th Street is a brand new slice of modern elegance, articulated within th...
Noticias sobre o mercado imobiliario em Miami
Visit our Chairff Mobile website
South Beach Web Cam, Live South beach Webcam Miami Realtors Client login Points Of Interest Selling Commercial Marketing Plan
Chariff Realty Group
5801 Biscayne Boulevard,
Miami, FL 33137
Phone: (305) 576-7474
Fax: (305) 576-7494
Email: info@chariff.com
LEASED! ANOTHER DONE DEAL
Romero Britto’s gallery to move to 532 Lincoln Road After more than two decades at...

SOLD! Another Done Deal!!
Jugofresh owner Matthew Sherman has sold the Biscayne Boulevard site in MiMo that he had...

ANOTHER DONE DEAL!! CHARIFF INKS IN PINK
Two pink houses, two new deals. Lyle Chariff and Mauricio Zapata, partners in Chariff Realty...

Another Done Deal!! SOLD!
A group of local investors led by Lyle Chariff sold a retail development site in the emerging...

ANOTHER DONE DEAL! SOLD!
A Design District property across the street from the Palm Court Garage has traded hands...

Miami Design land prices Soar!!
Commercial land prices have gone sky high in the Design District over the past year or so,...

Sales heat up in area from Wynwood to Design District - “It’s become a very hot, targeted area,” Chariff told TRD.
A vacant lot west of Midtown Miami has sold for $980,000, The Real Deal has learned, as...

Boulevard 57 gets new name, management, renderings revealed
Boulevard 57, an eight-story condominium tower planned for Miami’s Biscayne Boulevard,...

Bank of China and Deutsche Bank to Loan $600M for Miami Design District Development
A trio of lenders—Deutsche Bank, Bank of China and the French banking network Crédit...

Another Done Deal-SOLD!
2400 NE 2nd Ave Miami, FL. A 10,000-square-foot office building on 13,000 Sq. Ft of land...

< Visit Our Chariff Realty Group Blog

Today's Real Estate News and Advice Updated: Monday, May 21, 2018

9 Silly Little Things That Could Be Sabotaging Your Home Sale

If your home is in pretty good shape i.e. its decently updated and not in need of a total ov...
> Full Story

5 Smart, Easy Ways To Add Smart Home Technology To Your Place

Has technology passed your home by? Its never too late to update it. Whether you just want t...
> Full Story

10 Tips To Upgrade Your Home Security

Keeping your home and family safe is a priority we all share. But beyond locking the doors a...
> Full Story

Keeping Costs Down When Building Your New Pool

Having a pool can be one of the most enjoyable parts of homeownership, but building it can b...
> Full Story

Eight Signs Its Time To Move Up

The starter home. It was so cute and quaint and sweet when you bought it, right? But, that w...
> Full Story

Theres A Color Of The Year For Everyone

Color experts such as The Pantone Color Institute, provide a number of services to companies...
> Full Story

Rapid Transit Project May Call For Eminent Domain
Question: I understand that our State government has plans to expand our rapid transit r...
> Full Story

Why Do So Many HOAs Fail To Properly Plan For Predictable Expenses?

A fortune teller asked me to gaze into her crystal ball. "I see wear and tear in your condom...
> Full Story

How A Housing Shock Would Impact Canadas Economy

Last year various Canadian governments took measures to slow down the booming housing market...
> Full Story

California Association of REALTORS To Release New And Revised Forms

Twice a year, in June and December, the California Association of REALTORS CAR >

Thr...
> Full Story

Copyright © 2018 Realty Times®. All Rights Reserved