Bad Bunny And David Grutman Refinance Gekko In Brickell

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UBS has provided a $23.5 million refinance loan for two retail condominium units in the SLS Lux and SLS Brickell buildings in Miami's Brickell neighborhood. The larger unit houses Gekko, a Japanese-inspired steakhouse co-owned by musician Bad Bunny and nightlife entrepreneur David Grutman. The refinancing deal signals continued investor confidence in experience-driven retail and celebrity-backed hospitality concepts in the Brickell area.

Why it matters

The UBS refinancing deal for the Gekko restaurant space is a sign that lenders still view experiential retail and celebrity-backed hospitality concepts as attractive investments in Miami's Brickell neighborhood, one of the city's busiest dining corridors. This indicates that banks are willing to back hospitality-anchored retail where there is a proven track record of strong cash flow, driven by factors like dense housing, tourism, and established operators.

The details

The $23.5 million loan from UBS covers roughly 22,000 square feet of retail space across two condominium units - a 15,302 square foot unit at 8 Southeast Eighth Street in the SLS Lux building, and a 6,888 square foot unit at 1300 South Miami Avenue in the SLS Brickell tower. The larger unit houses Gekko, the Japanese-inspired steakhouse co-owned by Bad Bunny and David Grutman. The two retail condos were purchased in an all-cash sale for about $38.3 million last year, with current ownership records listing Kevin Waissmann, through Tango Property Management, as the owner.

• The $23.5 million refinancing deal was completed this past winter.
• Gekko opened in 2022 as a Japanese steakhouse and lounge.