Just days after news broke of a real estate development company acquiring Miami institution Shuckers Waterfront Bar & Grill and the neighboring hotel on the property for a whopping $75 million, the news just got wilder. New York-based real estate company Continuum Company has partnered with entertainment company Palm Tree Crew, founded by international DJ Kygo, to turn the oceanfront restaurant into Palm Tree Club, a brand new waterfront hotel and restaurant with an entirely high-end, music-driven, Miami aesthetic. In a press release sent out earlier this week, Continuum Company revealed it had secured a $67.5 million loan to acquire Shuckers Waterfront Bar & Grill and the neighboring Best Western Inn in North Bay Village for $75 million. According to a verified source on the matter, the legendary South Florida dockside restaurant will remain open until the end of 2024, which is when Palm Tree Club plans to take over the property. There are currently discussions being had surrounding whether Shuckers will relocate to another location, and this information will be verified as soon as it is made available.
Miami New Times’ Post
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This fully built-out, fully-equipped second-generation restaurant for sale presents a turnkey opportunity in Downtown, Miami. 📍Downtown / Edgewater, Miami, FL 📐 +/- 2,540 SF Interior & +/- 2,300 Exterior ✅Inside & outside seating (large patio) ✅Wine and beer license 2COP 👉🏼Seats: 122 👉🏼Partnership is considered 👉🏼Lease Term: 1 August 2018 to 30 July 2028 with 2 x 5 year options 👉🏼4 allocated parking spaces included 🔒 Due to the confidential nature of this property, further details and financial information can be shared upon signing a non-disclosure agreement (NDA). Your privacy is our priority, ensuring a seamless and secure transaction process. 🤝💼 For more information, 📩 wh@fir.com or 📞 786 303 2181 #MiamiRealEstate #RealEstate #RealEstateInvesting #RealEstateInvestor #Realtor #RealEstateAgent #Broker #RealEstateBroker #CommercialRealEstate #CommercialProperty #Property #Restaurantproperty #Investment #InvestmentProperty #HerzDupondGroup #FortuneInternationalGroup #fortlauderdalerealestate #restaurantforsale #restaurantbusinessmiami
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