Brickell Bay Boardwalk
Case Studies
End Results
Black Lion embarked on a renovation project aimed at overcoming these challenges. Initially planning to relocate an elevator and create a walkway to the street, the team eventually opted for a more transformative approach: demolishing the entire first floor. This bold move paved the way for the creation of a new waterfront restaurant and superclub, offering unparalleled views of Brickell Bay. This ambitious undertaking, spanning several years, resulted in a unique and highly desirable space. The successful sale of a portion of the property for $8.5 million, at $1,232 per square foot, demonstrated Black Lion's exceptional ROI and solidified its position in the Miami commercial real estate market. Delilah, the modern-day supper club, now stands as a testament to Black Lion's vision and success in revitalizing the property.
Problem
The property in Miami, situated in a lively nightlife area, remained largely unused and unattractive, primarily due to a vacant storage facility dominating much of the space. Despite its waterfront location, the property lacked appeal, with boarded-up windows and a dated lobby hindering potential development. Black Lion recognized the property's potential but faced challenges in redirecting foot traffic to a second-floor restaurant without passing through the unappealing lobby. Additionally, the property's age and condition deterred potential tenants, requiring significant capital improvements to restore its reputation and attract investors.
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