In Tuesday’s (1/26) Miami Herald, Elaine Walker reports, “A group of Miami Beach real estate investors will close next week on the purchase of the Lincoln Theatre, with plans to convert the historic building into retail stores. An affiliate of Savitar Realty Advisors of Miami Beach is buying the building from the New World Symphony, which is in the process of constructing its new home designed by architect Frank Gehry.” New World Symphony’s new concert hall, offices, and park will be located just around the corner from the Lincoln Theatre. “Terms of the deal for the 38,000-square-foot property on Lincoln Road Mall were not disclosed. Savitar Realty Advisors, a real estate investment and management company, is lead by Clifford Stein, president and chief executive. … The New World Symphony will continue to present concerts at the Lincoln Theatre until Jan. 2011.” Completion on the news Frank Gehry-designed facility is expected this year.

Photo Courtesy New World Symphony

Posted January 26, 2010