From the January issue: As Miami Beach’s prime retail corridor, which includes brands like Apple and H&M, continues to draw investor interest, a three-year legal fight blocking the sale of 940 and 947 Lincoln Road may be nearing the end. The sale of the two properties would pave the way for yet another big deal on South Florida’s hottest retail strip.
A judge has ruled in favor of the properties’ owner, Leon Zwick, in litigation brought by Michael Comras and the New York-based Cayre family, who had contracted to buy 947 and 940 Lincoln, with 8,625 square feet and 36,377 square feet, for $25 million and $61 million, respectively, in 2012. Comras and Cayre’s attorney said they will appeal the ruling. [more]