Ian Bruce Eichner’s Continuum Company acquired the popular Shuckers Waterfront Bar & Grill property and the adjacent Best Western in North Bay Village.
Continuum paid $75 million for the restaurant and hotel at 1819 79th Street Causeway, according to a press release. The firm financed the deal with a $67.5 million loan from Longline Financial.
Montreal-based Jesta Group, which planned to redevelop the site into a mixed-use hotel and apartment project, sold the property. It secured approval for its plans in 2023. Jesta also owns the Clevelander and Essex hotels in South Beach, which it plans to redevelop into a Live Local Act workforce housing and condo project.
The North Bay Village property brings Continuum Company’s portfolio in North Bay Village to 4.5 acres, according to the release.
Shuckers, a mainstay in the village, and the hotel will remain open until the developer decides what this phase of the project will entail. The hotel was just renamed North Bay Inn Miami.
Continuum Company said the Shuckers-anchored property could become a hotel and Continuum-branded condo with a private club, gym, restaurants and marina, but that the design will likely change. Construction of this phase could begin in 2025.
In December, Eichner’s firm and its partner, Aksoy Holding, launched sales of the Continuum Club & Residences, planned for the site at 1755 79th Street Causeway. The 32-story, 198-unit building, set for the north side of the village, will mark the latest Continuum development for Eichner in South Florida. Eichner completed the two-tower Continuum in Miami Beach more than two decades ago.
Eichner’s firm paid $35 million for the 1.4-acre North Bay Village site last year.
His company, also led by his daughter Alexander Eichner, is building the luxury condo projects called La Baia North and South in Bay Harbor Islands.
A number of other developers have big plans for the three-island town, which is sandwiched between Miami and Miami Beach. The village approved a zoning code overhaul in 2020 that allowed bigger projects.
Shoma Group, led by husband and wife Masoud and Stephanie Shojaee, plans a 21-story, 327-unit condominium tower at 1850 79th Street Causeway.
The billionaire Ansin family, which owns Sunbeam Television, plans a mixed-use project across several properties north and south of the 79th Street Causeway, which bisects North Bay Village.
Earlier this year, the Pérez family’s Related Group and New York developer Harry Macklowe acquired more units at the waterfront Majestic Isle condo building that was previously deemed unsafe, where they plan a luxury residential development on a larger assemblage of land.
One project in North Bay Village has stalled. Construction is on hold at Pacific & Orient Properties’ planned 21-story, 54-unit building at 7918 West Drive.
An earlier version of this story incorrectly identified the size of the development site and where La Baia is being built.
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