Coconut Grove's Famous Monty's Raw Bar and Marina Trades for Undisclosed Sum
Stroock & Stroock & Lavan Represent the Buyer
Miami, FL, May 27, 2015 -- Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles, Miami and Washington, DC, announced Monty's Raw Bar and Bayshore Landing Marina, arguably the most well-known and popular bar/restaurant and marina in Miami's sought-after sub-market of Coconut Grove, have just been acquired by Aligned Bayshore Raw Bar LLC and Aligned Bayshore Marina LLC at an undisclosed price.
Stroock attorneys Ron Kriss and Paul Shelowitz from the Miami office led the team that arranged the complex transaction on behalf of the buyer. Seller Bayshore Landing LLC began negotiations for the sale over a year ago. According to Miami-Dade property records, the last sale of the property was for $3 million in 2004.
"Named for former owner and founder Monty Trainer, Monty's has been operating in the Grove for more than 46 years," said Mr. Kriss who added that the deal involved the transfer of a ground lease from the City of Miami that includes adjacent retail and office tenants. "Our client loves the restaurant, an institution in Coconut Grove, its strategic location at 2550 S. Bayshore Drive, and its reputation as a local hotspot. We were delighted to represent our client in such an iconic acquisition."
The complex includes Monty's Raw Bar, an 800-seat restaurant that is a legend in Coconut Grove, and offers a marina with 150 dockage slips. Retail tenants include Starbucks, yacht dealers and over a dozen other marine-related tenants.
Stroock & Stroock & Lavan LLP is a law firm providing transactional, regulatory and litigation guidance to leading financial institutions, multinational corporations, investment funds and entrepreneurs in the U.S. and abroad. Our emphasis on excellence and innovation has enabled us to maintain long-term relationships with our clients and made us one of the nation's leading law firms for almost 140 years. Stroock's practice areas include capital markets/securities, commercial finance, mergers, acquisitions and joint ventures, private equity, private funds, commodities and derivatives, employment law and benefits, energy and project finance, entertainment, environmental law, financial restructuring, financial services litigation, government relations, insurance, intellectual property, investment management, litigation, national security/CFIUS, personal client services, real estate, structured finance and tax.