Chateau Petit Douy

Miami, FL

Property Characteristics

  • 7,000 square-foot historically-designated mansion in the style of a French chateau
  • Architecture unique to Miami; large outdoor patio area ideal for restaurant adaptive reuse

Acquisition

  • August 2013

Investment Opportunity

  • Located at the corner of one of the most important intersections in the urban core of Miami
  • Miami’s central business district is projected to add 100,000 residents through 2019
  • Imbalance in submarket supply/demand; retail vacancy had fallen to historic lows while rents had been increasing

Execution

  • Secured a city code amendment to allow rezoning from residential to retail/restaurant use
  • Received all historic approvals, including the right to expand the building