New York-based real estate company Continuum Company has partnered with entertainment company Palm Tree Crew, founded by international DJ Kygo, to turn the oceanfront restaurant into Palm Tree Club, a brand new waterfront hotel and restaurant with an entirely high-end, music-driven, Miami aesthetic.
In a press release sent out earlier this week, Continuum Company revealed it had secured a $67.5 million loan to acquire Shuckers Waterfront Bar & Grill and the neighboring Best Western Inn in North Bay Village for $75 million.
According to a verified source on the matter, the legendary South Florida dockside restaurant will remain open until the end of 2024, which is when Palm Tree Club plans to take over the property. There are currently discussions being had surrounding whether Shuckers will relocate to another location, and this information will be verified as soon as it is made available.
In the meantime, a Continuum Company representative told New Times, "Continuum intends to keep the essence of Shuckers alive with Palm Tree Club. There will be minor cosmetic improvements, but the deck, the views, the causal setting, and feel-good vibes are staying."
A rendering of Palm Tree Club by Palm Tree Crew featuring a hotel, pool, waterfront restaurant, and tropical colors.
Palm Tree Crew photo
Palm Tree Club also promises to go beyond being known as solely a dockside hotel and restaurant, as it will also be a live music venue with "live music at its core" that blends gastronomy, hospitality, and live entertainment. "It's been a long-time dream to transform this waterfront island address into the local's hot spot and destination venue we've long known it could be," explains Alexandra Eichner, president of Continuum Company. "As a long-time fan of Palm Tree Crew, we couldn't imagine a better partner to bring this property to life."
Palm Tree Club will be Palm Tree Crew's first-ever waterfront hotel and restaurant in Miami — and the first hospitality venture for the company better known for its international music festival experiences. "We are incredibly excited to launch our first restaurant and hotel in North Bay Village, Miami, a city that embodies the spirit of Palm Tree Crew," says Myles Shear, co-founder of Palm Tree Crew. "We've admired Shuckers for a long time as a staple of the Miami hospitality ecosystem, and we feel privileged to partner with Continuum Company to bring this property into its next chapter. Palm Tree Club will be more than just a place to eat and stay; it will be a destination that captures the energy, creativity, and entertainment that Palm Tree Crew stands for."
Palm Tree Crew, founded by Kygo (Kyrre Gørvell-Dahll) and his manager Myles Shear, is a diversified holding company that owns and operates a consumer brand, a global live events business, and a multi-product investment platform, all under one company.
Shuckers Waterfront Bar & Grill, which has been serving guests for 30 years, is a beloved institution in North Bay Village known for its prime rib sandwich, special grilled wings, and fish dip.
