CLIENT NEWS: Robert Rivani’s Black Lion pays $63M for Miami Beach mixed-use building

April 23, 2024

Robert Rivani’s Black Lion hunted down its biggest purchase in South Florida to date, but will have to compete with other heavy hitter developers in Miami Beach’s office market. The Miami-based commercial real estate investment firm paid $62.5 million for a Miami Beach mixed-use building, The Real Deal has learned. Black Lion is paying at a 42 percent discount off the previous sale price seven years ago. Black Lion acquired the ground lease for The Lincoln, a six-story building with[...]

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CLIENT NEWS: Little Havana site could be rezoned for apartments, grocery store

February 1, 2024

Cornerstone Group and Brookstone Partners aim to rezone part of a Little Havana site so it can move forward with a mixed-use project anchored by a grocery store. The Miami Planning, Zoning and Appeals Board will consider the rezoning for 1.02 acres of the 2.36-acre property at 805 to 861 W. Flagler St. and 826 to 860 N.W. First St. on the evening of Jan. 31. Brookstone 805 Flagler LLC, an affiliate of Hollywood-based Cornerstone Group and Coconut Grove-based Brookstone[...]

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CLIENT NEWS: Jackie Soffer’s Turnberry, Belmont plan Aventura apartments for seniors

January 30, 2024

Turnberry and Belmont Village Senior Living are planning an 11-story senior living project with 153 apartments in Aventura. Belmont Village Aventura at 3510 Yacht Club Way will mark the third project in South Florida and the first partnership with Turnberry for the Houston-based senior living developer, a press release states. Last month, A Belmont Village affiliate paid $8 million for the 1.4-acre vacant site from a trust linked to Turnberry, the Aventura-based development firm led by CEO Jackie Soffer, records show.[...]

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CLIENT NEWS: MG Developer completes assemblage for Metro Parc South

January 30, 2024

MG Developer completed the assemblage for its planned Metro Parc South multifamily project in Hialeah. The firm paid $16.3 million in three deals for 1.8 acres along East 24th and 25th streets, near Ninth Avenue. In the biggest purchase, MG paid $10.5 million for the sites at 975 East 24th Street, as well as at 934 and 954 East 25th Street, according to records. An entity led by Michael Klinger, of real estate firm Saber Fund, sold the properties that[...]

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CLIENT NEWS: Uncut gem: Avi Dishi, Elysee and Pan Am buy Yair Levy’s downtown Miami building

January 30, 2024

Yair Levy’s involvement in an attempted takeover of downtown Miami’s jewelry district is kaput. Now, Avi Dishi, Elysee Investments and Pan Am Equities are betting that Levy’s gamble of converting a 1920s, nine-story building into a bedazzling crown will pay off. An affiliate of Levy’s New York-based Time Century Holdings sold the mixed-use property at 1 Northeast 1st Street for $27.5 million to Dishi, a New York-based real estate investor, as well as affiliates of New York-based Pan Am and[...]

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CLIENT NEWS: 1.5M Square Foot Sawyer’s Walk Now 100% Leased, Completion In Summer

January 30, 2024

The retail and office space at Sawyer’s Walk is now 100% leased, with completion expected this summer. It is the largest mixed-use project in Overtown in decades, with 1.5 million square feet. The development will include 175,000 square feet of retail, including a 50,000-square-foot Target store, a 25,000-square-foot Aldi supermarket, and new locations for Ross Dress for Less, Five Below, Burlington and Tropical Smoothie Cafe. There will also be 130,000 square feet of office space. MSC Group has taken all[...]

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