Rising rents forcing Miami restaurants to close, move

Philly Grub's Mark Scharnitz bought his real estate to avoid being priced out by speculators (Roberto Koltun/Miami Herald)

Restaurants, like artists, move into depressed neighborhoods where rents are cheap, hoping their fans will follow.

And when they do, they are often the first ones priced out. It’s happening across Miami.

In May, Michelle Bernstein’s signature restaurant in the Mimo neighborhood, CENA by Michy, closed after a 10-year run. So did Mimo’s The Federal, even after a drastic, last-ditch makeover.

A key culprit in both cases? Rising rents.

READ MORE from the Miami Herald: This is why your favorite Miami restaurants are closing

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