1657 Michigan Avenue/947 Lincoln Road
Two retail projects have been proposed in Miami Beach, one on Lincoln Road and the other at the Continental Hotel.
Both applications went before the city’s Historic Preservation Board on Monday and will possibly be voted on at the board’s June 12 meeting.
The two-story building at 1657 Michigan Avenue, which has a corner fronting Lincoln Road, was built in 1925 and is currently 8,625 square feet of retail and residential in two stories. Owner 947 Lincoln Road Investments, owned by Leon Zwick, seeks to redevelop the building into two stories of retail totaling 14,747 square feet. The façade along Michigan Avenue would be restored with a new modern building constructed behind it.
According to Colliers International South Florida, the average asking rent on Lincoln Road is $130.45 per square foot – among the highest in the nation. That means expanding the retail space on this property would significantly increase its value.
Retail addition proposed for hotel
The Continental Hotel at 4000 Collins Ave. could build a retail/parking garage addition.
Sukkah Miami Beach Acquisitions, an affiliate of Boca Raton-based PEBB Capital, wants to partially demolish a 5-story section of the hotel, which was developed in 1948, and replace it with a four-story building. This would be in addition to the renovations that are already underway to the hotel’s façade. The site plan by Charles H. Benson & Associates Architects shows the new building would total 36,796 square feet, including 11,141 square feet of retail. The shops would be on the first two floors.
Larkin represents this developer as well. – Brian Bandell