The New World Symphony has sold the Lincoln Theatre in Miami Beach to an affiliate of Savitar Realty Advisors who plan to convert the historic building into retail shops and restaurants. Terms of the deal for the 38,000-square-foot property on Lincoln Road Mall were not disclosed, and the purchase will close next week.
Plans for the historic theater built in 1935 include converting the four-floor building into three floors while still maintaining its architectural features. As many as four retail shops and restaurants are set to open in 2012 or 2013.
