Boucher Brothers, city of Miami Beach finalize $3M settlement with Nikki Beach operator 

A juicy lawsuit against the city of Miami Beach and Boucher Group over the redevelopment of a city-owned beachfront ended in a $3 million settlement, payable to the owner of Nikki Beach. Boucher agreed to pay $1.5 million to Penrod Brothers to settle the lawsuit. The city agreed to pay $1.5 million, but Boucher will pay Penrod that amount directly, over time, in lieu of rent or concession agreement payments to the city, according to a news release from the city. The lawsuit accused city officials’ of favoring Boucher Brothers and Major Food Group’s bid for the site. Boucher and […]

This article originally appeared on The Real Deal. Click here to read the full story.