Miami Design District Building Slated for Renovations

Miami Design District Building Slated for Renovations

Miami Design District Building Slated for Renovations

A building in the Miami Design District will undergo a major renovation after the developer secured a $11.93 million loan.
Centennial Bank awarded the mortgage to 4141 Design LLC, led by Remy Jacobson of Miami Beach-based JCube Development. The loan was brokered by Aztec Group’s Charles Penan, Howard Taft, and Joel Zusman.
The 15,843-square-foot office building at 4141 North Miami Ave. will receive a full renovation, with 6,100 square feet on the first floor converted to retail/office/gallery space, the second and third floors prepared for office tenants, and a 4,000-square-foot event space on the roof. It will be rebranded 4141 International Design Center.
The Miami Design District has attracted many luxury retailers and restaurants, and the neighborhood has a history of art galleries.
“Similar to the neighborhood where it is located, the 4141 International Design Center will evolve from one of the first design coworking office buildings in the early 1960’s to a modern 21st century office building in the world-renowned Miami Design District,” Penan said. “The property’s Historic and Environmental Preservation Board approval assures that the historical character of the building will remain intact, while entering its next phase in one of Miami’s most vibrant and walkable submarkets”
Jacobson’s company acquired the building for $10.5 million in 2016. Shulman + Associates was the architect on the project.