Leases  ·  Players

Miami Retail Brokerage Koniver Stern Group Shutters as Partners Break Up

Lyle Stern is Launching his own firm.

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Koniver Stern Group, one of Miami’s most successful retail brokerages, is shutting down and co-founder Lyle Stern is launching his new firm in its stead.

Stern and partner Bruce Koniver founded the Koniver Stern Group in 1992 and grew it to become one of the most prominent retail brokerages in the Miami area. The firm inked deals with hospitality groups behind marquee restaurants such as Carbone, Estiatorio Milos and Mr. Chow, as well as national chains like Sweetgreen and Whole Foods.

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“At this stage of our professional lives, we saw different ways to grow and have therefore started two new companies,” Stern said in a statement, adding that he looks “forward to working with Bruce Koniver and his new company on new opportunities.”

Details of Koniver’s new venture were not immediately available. He has not responded to requests for comment.

Stern has launched a new retail-based brokerage, Vertical Real Estate, with former Koniver Stern Group agents Michael Sullivan and Noah Fox as partners. The firm, which specializes in retail leasing and development consulting, is based out of a 4,500-square-foot office at 1665 Washington Avenue near Lincoln Road in South Beach. 

Besides the partners, the Vertical team includes seven agents, five of which previously worked at Koniver Stern Group. 

The brokers are keeping many of their existing clientele and listings. These include Eighteen Sunset, a mixed-use development in Sunset Harbour, and the retail portions of both the Southeast Financial Center, an office building in Downtown Miami, and The Wynwood Plaza, a 1 million-square-foot mixed-use development now under construction.

Julia Echikson can be reached at jechikson@commercialobserver.com