UBS quietly cut a $23.5 million refinance deal this winter on a pair of Brickell retail condos, including the sprawling ground floor space that houses Gekko, the celebrity-backed steakhouse from Bad Bunny and David Grutman. The loan covers roughly 22,000 square feet of retail across SLS Lux and SLS Brickell storefronts, a signal that lenders still like experience-driven retail in one of Miami's busiest dining corridors. For residents and investors, it is another sign that nightlife and restaurant concepts have turned into financeable assets in the urban core.
Loan Details And Property Footprint
According to Commercial Observer, UBS supplied the $23.5 million loan to refinance two retail condominium units that together total about 22,190 square feet. The larger unit is roughly 15,302 square feet at 8 Southeast Eighth Street in the SLS Lux building, and the second spans about 6,888 square feet at 1300 South Miami Avenue in the SLS Brickell tower. Public filings reviewed by the outlet show that the financing bundles both units into a single package for the lender.
Owners, Tenants And The Recent Sale
As reported by Miami New Times, the larger space is home to Gekko, the Japanese-inspired steakhouse co-owned by Bad Bunny and David Grutman, while the smaller condo includes dining concepts such as Ahu Mar and Rosa Negra. The two retail condos traded in an all-cash sale for about $38.3 million last year, and current ownership records list Kevin Waissmann, through Tango Property Management, as the owner of the assets. Neither the owners nor the tenant operators have issued detailed public statements about the new financing beyond what appears in public records.
Gekko's Place In Brickell
Gekko opened in 2022 as a jewel-toned Japanese steakhouse and lounge and quickly turned into a late night draw for both tourists and Brickell residents, per Eater Miami. The restaurant's own site lists its address at 8 SE 8th Street and highlights a menu that mixes premium steaks, sushi and a DJ-driven lounge atmosphere that leans into both dining and nightlife programming. That day to night revenue mix is one reason operators and lenders view the location as potentially more durable than many single use retail spaces.
Why Lenders Are Willing To Bet
Industry coverage frames the UBS refinance as part of a broader pattern in Miami: banks are backing hospitality anchored retail where dense housing, tourism and proven operators help stabilize cash flow. Coverage by Commercial Observer notes that lenders often underwrite deals more confidently when tenants are established operators with national or celebrity cachet. For Brickell, the refi signals that institutional capital still prizes experiential storefronts even as some national retail lending slows in weaker submarkets.
For local diners and investors, the UBS loan is a reminder that celebrity clout can translate into hard dollar underwriting in Miami's top dining corridors. Whether that leads to more star-led venues or simply helps existing ones settle in as long term neighborhood anchors is still an open question.
