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Chateau Petit Douy
Miami, FL
PROPERTY CHARACTERISTICS
- 7,000 sf historically-designated mansion in the style of a French chateau
- Architecture unique to Miami; large outdoor patio area ideal for restaurant adaptive reuse
ACQUISITION
- August 2013
INVESTMENT OPPORTUNITY
- Located at the corner of one of the most important intersections in the urban core of Miami
- Miami’s central business district is projected to add 100,000 residents through 2019
- Imbalance in submarket supply/demand; retail vacancy had fallen to historic lows while rents had been increasing
EXECUTION
- Secured a city code amendment to allow rezoning from residential to retail/restaurant use
- Received all historic approvals, including the right to expand the building
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