1665 Alton Road (Comras Organization, Getty)
Investor Robert Shor just just cannot hold himself away from South Beach front.
A few months following selling a retail strip alongside Alton Street to Michael Shvo for $39.3 million, Shor is again to shopping for, scooping up a vacant retail home across the street for $10 million.
By way of an affiliate, Shor acquired a commercial condominium at 1665 Alton Street from an entity tied to Orlando Garcia of Coral Gables-centered Secured Financial debt Investments, in accordance to information. The 9,000-sq.-foot apartment is on the floor flooring of a two-tale developing quickly north of the 1111 Lincoln garage and retail creating.
Irma Figueroa and Vicki Freeman of the Comras Corporation represented the seller. Seth Gadinsky of Gadinsky Real Estate represented Shor.
In June, Shor marketed the 60,000-sq.-foot business strip throughout the avenue at 1656-1680 Alton Street, as well as an adjacent .2-acre parking great deal at 1677 West Avenue, to Michael Shvo, who strategies to redevelop the home into a 250,000-square-foot office environment and retail advanced. The residence contains the previous Epicure Connoisseur Marketplace & Café creating.
Shor stated an Ace Components shop on that strip, established to shut upcoming calendar year, will reopen in April in the vacant retail room he purchased this week.
Alton Road, a major north-south connector on the western conclude of Miami Seaside, is poised for additional development right after city residents in August authorized a zoning referendum that enables for more substantial assignments in the Alton gateway place. The vote makes it possible for developers Russell Galbut and David Martin of Terra to establish a taller combined-use undertaking at 710 Alton Highway.
