Potential buyers and builders Tal Levinson and Eric Malinasky and the Initial Eben Ezer Missionary Christian Church
at 312 Northwest Seventh Avenue in Fort Lauderdale (Google Maps, Tal Levinson and Eric Malinasky)
Builders want to construct an condominium project on a church web site in Progresso Village, which is promptly getting to be Fort Lauderdale’s subsequent very hot location.
Tal Levinson and Eric Malinasky plan a 6-story constructing on just about a whole block on the southeast corner of Northwest Seventh Avenue and Northwest Fourth Avenue, which involves the To start with Eben Ezer Missionary Christian Church, Levinson informed The Actual Deal. Ideas nonetheless are in the functions, but the eyesight is for more than 300 models with industrial place.
The challenge marks the initially floor-up progress in South Florida by Levinson and Malinasky, who are superior acknowledged for their house flipping and professional true estate investment as a result of their Fort Lauderdale-centered Dwelling Enterprise Investments.
The Progresso Village job will be created separately from Property Venture, and they have secured expense companions, even though Levinson declined to title them.
Documents present that Gilad and Avraham Ovaknin, Doron Malinasky and Eliyahu Levy are members of the entity that ordered the web page. Doron Malinasky and Levy this calendar year invested in an Artwork Deco constructing at 1450 Collins Avenue in South Beach front that when was residence to Jerry’s Famous Deli and Señor Frog’s.
Since July, the developers have assembled the almost 3-acre Progresso Village web-site that spans properties from Northwest Seventh Avenue south to Affiliated Development’s The 613 apartment creating, amongst Northwest 3rd and Fourth avenues. It also consists of two tons on the north facet of Seventh Avenue, which are currently being eyed for long run redevelopment but aren’t incorporated in the multifamily growth website, Levinson claimed.
In all, the houses incorporate vacant land compact, getting old apartment buildings at 647 Northwest 3rd Avenue, 616 Northwest Fourth Avenue and 623 Northwest 3rd Avenue a single-family members household at 700 Northwest Fourth Avenue and the church at 312 Northwest Seventh Road.
The builders have paid out a blended $9.2 million, in accordance to documents, while they still are beneath contract for an undisclosed total for a .2-acre good deal subsequent to the church.
The To start with Eben Ezer Missionary will move to a new, more substantial web-site in Oakland Park at 3970 Northwest 21st Avenue, according to Levinson.
Acquiring its new residence was not divine intervention, but fairly the result of a extensive look for and a complex offer. After getting the Oakland Park building, Levinson and his crew place that house under contract and then transferred the deal to To start with Eben Ezer Missionary.
“This is a fantastic example where by all people acquired what they needed,” he mentioned. 1st Eben Ezer “went to 4.3 acres and from 6,000 sq. toes to 8,000 sq. ft. And they walked away with a bunch of funds in the financial institution.”
Design of the FSMY Architects + Planners-made multifamily challenge is anticipated to get started in 2024, Levinson stated.
It will include to the ongoing remaking of Progresso Village with new jobs, and to the development of redeveloping church web pages.
This month, Eyal Peretz’s Fuse Group scored final approval for The Arcadian, an 8-tale setting up with 480 flats at 640 Northwest Seventh Avenue in Progresso Village.
Jonathan Fish’s Fish Property Management is doing the job on a Wynwood-like arts district, referred to as Thrive Progresso, with area for artists, dining and a brewery in renovated warehouses together Northwest Fifth Avenue, between Sistrunk and Sunrise boulevards.
In close by Flagler Village, Miki Naftali’s New York-centered Naftali Team strategies an apartment project at 201 North Federal Freeway and quite possibly on a site close by obtained from a church. Some associates of the Initial Baptist Church Fort Lauderdale have considered Naftali’s acquire of the church residence at 501 Northeast Next Avenue considerably less than holy, accusing congregation leadership of surreptitiously offering the web page.
In a different church redevelopment, Strategic Attributes programs around 220 flats in North Miami, partly on the Church of God Evangelical site at 12830 Northeast Sixth Avenue. Strategic and its partners paid $5.6 million for the residence in Could. The church has a 1-year lease for the constructing, allowing for time to locate a new property.
