The historic Coral Rock House at 900 Collins Ave. in Miami Beach. Photo: Lidia Dinkova/ALM
The historic Coral Rock House in Miami Beach was supposed to reopen as a cigar store and lounge but stands vacant amid allegations of major structural defects including corroded rebar, failing concrete and leaks.
The tenant and building owner C&A Collins LLC, affiliated with New York-based real estate investor Robert Cayre, are locked in a legal dispute over the property, each side alleging the other didn't live up to its duties under the lease.
C&A 900 Collins and South Beach Cigar Bar LLC, affiliated with Neptune Cigar SuperStore in Miami's Little Havana, signed a 10-year lease in July 2017 for part of the building on the northwest corner of Collins Avenue and Ninth Street. Rent started at $24,075 a year and was set to increase annually to $31,412 in the 10th year.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
