Diamonds aren’t forever: Seybold Building jeweler claims owner won’t relocate his store

Downtown Miami building on the National Registry of Historic Places is replacing its facade

TRD MIAMI /
Dec.December 03, 2019 09:45 AM
The front entrance of the Seybold building at 36 N.E. First Street

The front entrance of the Seybold building at 36 N.E. First Street

A jeweler at the Seybold Building in downtown Miami claims the landlord is about to put the store out of business as a result of an ongoing renovation project.

Nemaro Jewelers, which is four years into a 15-year lease, is suing Seybold owner Flagler Street Associates in Miami-Dade Circuit Court for allegedly breaching the lease agreement.

The 166,000-square-foot building at 36 Northeast First Street near Flagler Street was originally completed in 1921 and is on the National Register of Historic Places. It’s a vertical shopping center housing more than 300 jewelers on 10 floors.

Lawyers for Nemaro and Flagler Street Associates could not immediately be reached for comment. According to the complaint, the landlord informed Nemaro sometime shortly after June 26, 2018 that Flagler Street Associates would be undertaking a major renovation of the Seybold Building. Specifically, the property owner is replacing the full facade of the building, a job that will take six months or longer to complete, the lawsuit states.

As a result, a substantial portion of Nemaro’s suite will be demolished, rendering the space unusable for a jewelry store, according to the complaint. Nemaro, owned by Yair Kassab according to state corporate records, informed Flagler Street Associates that it was willing to cooperate with the landlord to find an alternate space in the building.

However, the jeweler sought assurances from Seybold’s owner that the temporary alternative space would be move-in ready in order to avoid disrupting Nemaro’s business.

Nemaro claims that the relocation required extensive planning that involved the placement of safes and the installation of security alarm and video monitoring systems.

But Flagler Street Associates made no effort to prepare the temporary space when the company informed Nemaro that the construction work was beginning in October, the lawsuit alleges. Instead, when Nemaro pointed out that it could not operate in its space during the construction, Flagler Street Associates declared the jeweler was in default of the lease, according to the suit.

In addition, Flagler Street Associates “unilaterally commenced construction activities, framing off or boxing in the exterior of Nemaro’s leased premises.” Nemaro claims its business is going to be destroyed. The jeweler is seeking unspecified damages against Flagler Street Associates.


Related Articles

arrow_forward_ios
Royal Management Group maintains four South Beach condo buildings

South Beach condo owners sue to remove management company

South Beach condo owners sue to remove management company
Lennox Miami Beach

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit
Hard Rock Cafe at Bayside Marketplace (Hard Rock)

Bayside Marketplace sues to evict Bubba Gump, Hard Rock Cafe and three other tenants

Bayside Marketplace sues to evict Bubba Gump, Hard Rock Cafe and three other tenants
A few of the properties in Palm Beach County (Credit: Google Maps)

Feds seek to seize 11 properties in Palm Beach County allegedly tied to money laundering

Feds seek to seize 11 properties in Palm Beach County allegedly tied to money laundering
Bay Harbor One

Bay Harbor One buyer sues to get out of condo deal, citing alleged defects

Bay Harbor One buyer sues to get out of condo deal, citing alleged defects
Gil Dezer with a rendering of Porsche Design Tower and Residences by Armani/Casa (Credit: ARX via Madison Global)

Miami judge will rule if ex-Dezer COO is entitled to more than $10M in profits

Miami judge will rule if ex-Dezer COO is entitled to more than $10M in profits
Diane Von Furstenberg, Brookfield Properties Bruce Flatt, and the DVF store in the Shops at Merrick Park (Getty, Google Maps)

Brookfield seeks to evict Diane Von Furstenberg at Merrick Park

Brookfield seeks to evict Diane Von Furstenberg at Merrick Park
1 Hotel South Beach (Credit: Google Maps)

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...