Who would have said twenty years ago?
The Miami project cruises ahead.
And it seems as if there are many who believe in it.
How many of you have gone and given a look to these new unsuspected neighborhoods in formation ?
Worth a visit.
The geography has been there all the time.
We are just noticing that the bay doesn't end where we didn't use to go watch it!
MIAMI DEVELOPERS STORIES
A Miner in Edgewater
Oleg Baybakov, the Russian mining
tycoon behind 700 Edgewater Development LLC, has amassed much of the property
near the waterfront between Northeast 26th Street and Northeast 26th Terrace,
in Miami. His largest purchase came in
February when he paid $21.5 million for the residential tower at 700 NE 26th
Terrace.
The latest purchases involve four
lots just east of that property. Baybakov paid an average of $271 per square
foot for a combined 32,040 square feet in transactions that closed April 16 and
17, Miami-Dade County records show. As a result, his companies own all but the
southwest corner lots of the 2.75-acre block facing Biscayne Bay.
Baybakov's plans for the properties
have not been disclosed. The rental building at 700 NE 26th St. has been
aggressively shedding tenants for years, and Baybakov's firm has in the past
two months initiated eviction proceedings against three tenants.
Reached
Monday, the leasing agent for the building said there was just one apartment
available for rent. A previous owner envisioned tearing down the 58-unit
project built in 1980 to make way for a 39-story condo.
Baybakov's net worth has not been
recently estimated by reliable media sources, but he is believed to be a
multibillionaire. He is a frequent business partner of Mikhail Prokhorov, one
of the richest Russians alive, telling the Wall Street Journal in 2010 he was a
silent partner in Prokhorov's most famous American venture, the Brooklyn Nets
professional basketball franchise…
In South Florida, Baybakov also has
real estate holdings in Miami's Brickell neighborhood and Miami Beach.
Might These Edgewater Lots Just Bought For $10M Be
Next Project For N.Y. Developer?
A New York company about to break
ground on a Coral Gables multifamily project has bought land for its next big
venture, snapping up a 1.04-acre assemblage in Miami's Edgewater neighborhood
for $10 million.
A company linked to New York-based Greystone & Co. Inc., which finances and develops ventures across the country, paid $221 per square foot for the eight contiguous lots west of Biscayne Boulevard between Northeast 25th and 26th streets.
A Greystone spokeswoman said the company plans to develop the property with the same partners on the Coral Gables project but did not provide specific details on what would be built on the newly acquired site. The purchases closed Friday.
In Coral Gables, Greystone is partnering with Miami-based Alta Developers LLC and Strategic Properties Associates Group LLC to build a 119-unit, mixed-use project at 3622 Coral Way. That development was picked up for a similar proposal that was sidelined by the recession. That project breaks grounds Monday.
Greystone's Edgewater project would be their second recent venture in South Florida. The company also completed a health-care project, the Club Health and Rehabilitation Center at The Villages.
Alta and Strategic Properties, Greystone's partners, are managed by long-time South Florida real estate players Raimundo Onetto, Henry Pino and Patricio Ureta. Most recently, they worked together to propose Le Parc at Brickell, a sleek, 12-story tower in Miami's financial district unveiled in May.
A company linked to New York-based Greystone & Co. Inc., which finances and develops ventures across the country, paid $221 per square foot for the eight contiguous lots west of Biscayne Boulevard between Northeast 25th and 26th streets.
A Greystone spokeswoman said the company plans to develop the property with the same partners on the Coral Gables project but did not provide specific details on what would be built on the newly acquired site. The purchases closed Friday.
In Coral Gables, Greystone is partnering with Miami-based Alta Developers LLC and Strategic Properties Associates Group LLC to build a 119-unit, mixed-use project at 3622 Coral Way. That development was picked up for a similar proposal that was sidelined by the recession. That project breaks grounds Monday.
Greystone's Edgewater project would be their second recent venture in South Florida. The company also completed a health-care project, the Club Health and Rehabilitation Center at The Villages.
Alta and Strategic Properties, Greystone's partners, are managed by long-time South Florida real estate players Raimundo Onetto, Henry Pino and Patricio Ureta. Most recently, they worked together to propose Le Parc at Brickell, a sleek, 12-story tower in Miami's financial district unveiled in May.
From Daily Business Review – April 28,
2014
PRE-CONSTRUCTION CONDOS IN MIAMI
Henry B. Nathan is a Hallandale & Hollywood Real Estate Agent
specialized in Pre-Construction Projects
(800) 416-2747 (954) 296-6741
Email me: hbnathan@gmail.com
mentioning
PRE-CONSTRUCTION CONDOS IN MIAMI
Visit my website: www.miami-new-construction.com
