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The fashion house plans to stay on a discounted lease for the long term
Webster, a fashion house that sells designer clothing and home furnishings, is looking to sell an even bigger piece of merchandise.
The Miami Beach-based company is putting its headquarters up for sale, asking $15.5 million to free up cash for an expansion, according to brokers. But the retailer will sell only if it can stay on as a long-term tenant in a lease sale of the historic building at 1220 Collins Ave., said Jared Robins of InHouse Commercial.
Robins, Jordan Gimelstein of InHouse Commercial Sales and Robin Zendell of Robin Zendell & Associates are listing the property, according to the offering package. Gimelstein’s great-uncle, prominent architect Henry Hohauser, designed the Art Deco building, he said. It was built in 1937.
Developers and brothers Craig and Scott Robins owned the building between 1988 and 2006. Scott is the father of Jared Robins. The brothers restored the property and turned it into a two-unit apartment, where they once lived, with commercial space on the ground floor, Jared Robbins said. Formerly the Hotel Webster.
Today, the 15,600-square-foot building is divided into two floors of retail space and an office and gallery on the third floor. It is situated on a plot of 7,000 square feet.
Webster was founded by Laure Heriard Dubrueil in 2009 and now has locations in Bal Harbour, Houston, Costa Mesa, Toronto, Los Angeles, Montecito, Palm Beach and New York. The company takes its name from the Miami Beach building.
Nearby, struggling real estate investor ARC PE late last year paid just $5 million for a mixed-use building at 826 Collins Ave., 40 percent less than the property’s purchase price a decade ago.
The Robins family are active investors and developers in Miami. The patriarch of the family, Jerry Robbins, died last year at the age of 86.
Craig Robins, founder and CEO of Dacra, is active in Miami’s design district, where he led the development of the neighborhood into an upscale retail and restaurant mecca. In December, his partners in the Miami Design District partnered with Qatari firm Constellation Hotels Holding, developer Nadim Ashi’s Fort Partners and New York-based private equity firm Raycliff Capital to buy more than 2.5 acres for about 165 million dollars. Developers are planning a mixed-use project with a hotel.
Scott Robins, president and CEO of Miami Beach-based Scott Robins Companies, has projects in Miami Beach, Palm Beach and Miami. He has worked with former Miami Beach Mayor Philip Levine on developments, which most recently include an office and condo project in Wynwood.
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