Retail investor picks up former Señor Frog’s in South Beach

Señor Frogs South Beach
1450 Collins Avenue in Miami Beach (Google Maps) via www.therealdeal.com

Buyer Yossi Lipkin plans to open a boutique retail store

Miami Beach investor Yossi Lipkin acquired the Art Deco property in South Beach previously home to Jerry’s Famous Deli and Señor Frog’s.

A trust led by nightclub owner Zori Hayon sold the three-story, 12,868-square-feet building at 1450 Collins Avenue to Yossi’s EDY for $10 million, property records show. Lavinia Otero of London Foster Realty brokered the deal.

Yossi said a “beautiful upper-scale resort wear store” plans to open in the building, but he is also exploring other options. “For a restaurant to support this kind of rent, it’s tough now,” Yossi said.

In the long term, Yossi plans to redevelop the property, and could eventually joint venture with Hayon. Yossi said he owns about 30 properties in Miami Beach, including on Ocean Drive.

“I’m a big believer in Miami Beach,” Yossi said. “There’s no other place like Miami Beach.”

Hayon, the owner of Cameo nightclub, owned the property for decades. Records show the building was built in 1940 and sits on a 10,411-square-foot lot.

By Katherine Kallergis  www.therealdeal.com
Read the full story  www.therealdeal.com

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