Just Closed: $8.5M Retail Condo – Brickell Bay Boardwalk

For Immediate Release (3/2/2020)

Fabio Faerman and Sebastian Faerman of FA Commercial, the commercial division of Fortune International Realty, just closed an approximately 6,900 square-foot space located at 801 Brickell Bay Drive. The retail space was sold for $8,500,000, which translates to  approximately $1,231 per square foot. The international buyer will be an end user of the space.

The space is part of the 13,437 SF Brickell Bay Boardwalk project. FA Commercial is in the process of leasing the remaining 5,411 square feet of the ground floor level and second generation mezzanine restaurant. The Faermans helped the Seller, which was represented by Robert Rivani of Black Lion Investment Group, Inc., in the design process of the new layout for the Boardwalk project.  Mr. Rivani had transformed a former storage and office space that had not been used in over 50 years into a new only-of-its-kind waterfront development for the Brickell trade area.  Brickell Bay Boardwalk features stunning water views to Mandarin Oriental Hotel, increased ceiling heights, and a new entrance to the mezzanine level ready for another restaurant user.
 

About the Buyer

The BySabri Group has been operating for nearly 10 years since its founding in Turkey. The entertainment company is solely owned by Mr. Sabri Celebi, one of the country’s elite businessmen. Following the success of the BySabri Group nightclubs, restaurants and other entertainment facilities in Istanbul, the company looked to expand internationally with large investments in various locations, beginning with the BySabri Restaurant in Dubai in 2017.

With BySabri Restaurant’s successful launch in Dubai, the company is now opening the “By Sabri Group” VIP Lounge in the corner space of the Brickell Bay Boardwalk. Located on the shores of Brickell Bay, the lounge will be front-and-center in Miami’s booming financial district, bringing a variety of world cuisines with surprise shows to the area. The Brickell Bay VIP Lounge is the first step in Miami, but it will not be the last. “Taking risk in business means to grow,” says Mr. Celebi, the founder of BySabri Group. 
 

About Brickell Bay Boardwalk

The Brickell Bay Boardwalk is a waterfront retail project at the base of the bridge connecting Brickell and Brickell Key in Miami.  BBB has amazing frontage on Biscayne Bay and 8th Street, with spectacular views of the Mandarin Oriental Hotel. The Boardwalk is situated in an area that sees a constant flow of residents, office employees, and tourists. Amenities for the Boardwalk include waterfront views facing Biscayne Bay, outdoor terrace seating and private valet parking on 8th Street. 

Currently, there are available spaces on the boardwalk and mezzanine levels of the Brickell Bay Boardwalk ideal for restaurant, lounge and other entertainment concepts. If you are interested in acquiring a space in Brickell’s newest waterfront entertainment hub, click here for more info.

This deal was originally posted on The Real Deal