Bay Condominium Association’s on-site Restaurant and Tiki bar are temporarily closed, and we are working with the Master
Lease holder, Jupiter Bay Racquet Club, Inc., (JBRC) and a prospective investor to get them reopened as soon as possible.
The three-month seasonal closing, allowed under terms of the Master Lease, ended in late September, 2017 and the restaurant
was to reopen on October 1st 2017.
the Restaurant failed to reopen, the Association immediately responded by having our attorney send, on 10/04/17, a letter
to JBRC saying that “It is critical that the restaurant be reopened for its normal operations of lunch and dinner immediately.”
The letter also said that the Tiki bar canopy, damaged by Hurricane Irma, was a danger to people and an eyesore and needed
to be repaired or replaced by JBRC per provisions of the Lease.
We demanded that JBRC cure the original breaches, listed in our March 2017 Complaint, and these
additional Master Lease breaches within 15 days from the date of the letter or that “JBRC peacefully surrender possession
of the premises to the Association.”
Management Agreement with Jupiter Beach House, LLC, the prior tenant, ended in June 2017 when the parties failed to agree
on a rent reduction.
The Board of Directors had a closed
meeting on 11/02/18 with a prospective purchaser of the master Restaurant and Tennis Club
Lease. The purpose of the meeting was to discuss terms and conditions for possible Lease assignment.
that meeting, the Association’s attorney has been corresponding with the prospective Tenant’s attorney as negotiations
continue. The prospective tenant is an investor who owns several other restaurants in the area and plans to sublease the restaurant
to a professional restaurant operator.
The Association has presented the Tenant’s attorney with
a list of requirements for a new Master Lease.
The prospective tenant has tentatively agreed to most
of these requirements in exchange for a significant increase over the current 14-year remaining lease term.
We hope to hear one way or the other within several weeks that a deal
can be made with this investor. If not, we will aggressively pursue other alternatives to improve and reopen our restaurant
as soon as possible.
Association is doing everything possible to resolve this matter and get the restaurant and Tiki bar reopened. We will update
you when new information becomes available.
Bay Board of Directors