The Real Deal Miami

Fashion designer, county commission negotiate rent deal

Deal gives Khan 90-year lease tied to inflation on waterfront lot
December 03, 2014 05:15PM

Naeem Khan

Naeem Khan and 1175 Northwest South River Drive

New York fashion designer Naeem Khan negotiated a below-market rent deal with the Miami-Dade County Commission, allowing Khan to move his company’s headquarters to Miami.

The deal gives the designer a 90-year lease (tied to inflation) on the waterfront lot, which is located at 1175 Northwest South River Drive. It also sets the base purchase price at the property appraiser’s current value of $1.2 million, according to the Miami Herald.

“All of my clothes are going to be made here. We’re moving all of our production out of New York to Miami,” Khan said at the meeting.

The proposal also calls for a $6 million, 30,000-square-foot facility, the Herald reported. [Miami Herald] – Katherine Kallergis