Following a weeks-long review, Miami’s city manager has approved the transfer of a lease for Monty’s Raw Bar, paving the way for a sale of the Dinner Key institution.
City Manager Daniel Alfonso signed an escrow deposit agreement and conditional lease assignment last week for the large restaurant and marina, located on city-owned land at 2550 S. Bayshore Dr. The buyer of the restaurant, Aligned Bayshore Raw Bar, is tied to Jose Hevia, former CEO of Flagler Development.
The sale of Monty’s has been pending since at least late January. It became public knowledge when Miami Commissioner Marc Sarnoff raised questions about whether the title of the property was clear, and whether the city was still owed money by the current tenant, Bayshore Landing, LLC. By Feb. 26, those concerns had been dealt with to the satisfaction of Alfonso, whose signature was needed to facilitate the deal.
Under the papers signed by Alfonso, $150,000 was to be paid into an escrow account to pay for any amounts still owed the city by Bayshore Landing, and for dock repairs. The city’s auditor general is currently reviewing the city’s lease for Monty’s, which typically pays City Hall about $1 million a year.
The lease is good until 2035. The value of the sale is not known.