Brought
to you by Leviev-Boymelgreen development is panning on
bringing forth the Marquis. Very high end architect Architectonica:
Marina Bleu, Bleu, American Airlines Arena, The Miami
Madarin Oriental, and 500 Brickell.
Buildning
amenities:
1. Penthouse contains 7000 sq. ft
2. The building will enjoy boutique for shopping
3. Lower floor will contain 1 to 2 bedrooms, and sky-townhomes
News Article
BY MATTHEW HAGGMAN
mhaggman@herald.com
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Three
months after plunking down $130 million for 14 properties
in Miami, a New York-Israeli development partnership
continues to add to its local holdings. Leviev and Boymelgreen
Developers has paid $17.95 million for a 3.5-acre parcel
in Miami's Edgewater neighborhood.
The
developers plan to construct a 45-story condominium
and refurbish a 10-floor office building already on
the property. The project, at 3050 Biscayne Blvd., will
be located across the street from the massive Midtown
Miami mixed-use project in the 56-acre former Buena
Vista railroad yard.
Leviev
and Boymelgreen Developers, initially called Africa-Israel
Boymelgreen, made a big splash in July when it announced
the purchase of more than a dozen properties and plans
to invest upwards of $1 billion in and around Miami.
The
Tel Aviv-based multinational Africa-Israel Investments
and Brooklyn developer Shaya Boymelgreen constitute
the development partnership. Lev Leviev is the chairman
of Africa-Israel, a holding company with business interests
ranging from construction and hotels to energy.
Leviev
and Boymelgreen have been looking for -- and buying
-- additional area properties, including this one between
Northeast 30th and 32nd streets on Biscayne Boulevard.
The deal closed last week. Edie Laquer of Laquer Corporate
Realty and Peter Andolina of Andolina Real Estate brokered
the sale.
The
project is slated to have 40,000 square feet of ground
floor retail space, a six-floor garage and 425,000 square
feet of residential space, said Mark Armstrong, Leviev
and Boymelgreen's director of construction. The developer
plans to reflag the property 3100 Biscayne.
Unit
prices have not been determined yet. The company plans
to market units in the first quarter of next year, and
to break ground in the second or third quarter.
The
already-existing office tower, which has 100,000 square
feet of space, will be renovated. Leviev and Boymelgreen,
currently housed in offices at 444 Brickell, is considering
headquartering itself in the building.
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The
3100 Biscayne development, coupled with the enormous Midtown
Miami project, likely will transform the entire Edgewater
and Wynwood neighborhoods.
For
Midtown Miami, developer Midtown Group in Miami plans
to build eight condo towers, one office tower and 220,000
square feet of retail space on 36 acres of the former
railroad yard. Diversified Developers Realty in Ohio plans
600,000 square feet of retail space on 20 acres.
Midtown
Group principal Daniel Pfeffer said the firm plans to
begin construction on their first condo tower this week.
Since
bursting onto the Miami real estate scene in July, Leviev
and Boymelgreen have announced plans to build a 60-story
high-rise condo tower along Biscayne Boulevard across
from Bicentennial Park on the site of a former Howard
Johnson's adjacent to Interstate 395.
It
also has announced plans to build a condo tower at the
corner of Fifth Avenue and Alton Road in Miami Beach,
refurbish a 10-floor Meridian Avenue office building and
convert it into office condos, and construct a parking
garage near the unfinished Performing Arts Center.
Armstrong
commented only on the 3100 Biscayne development project.
''We
have plans to bring to the market several landmark project
both on the Miami and Miami Beach side,'' Armstrong said.
Africa-Israel to invest $1.2b in Miami project
Africa-Israel Investments will construct 550,000 sq.m.
of residential, commercial, and office space.
Africa-Israel Investments (TASE: AFIL) will invest $1.2
billion in a residential, commercial, and office project
in downtown Miami, Florida, Africa-Israel chairman and
controlling shareholder Lev Leviev and CEO Pinchas Cohen
announced today. The project will be the largest overseas
by an Israeli company.
Leviev and Cohen stated that together with a partner,
Africa-Israel has purchased fourteen lots from Swiss Bank
UBS, and a further six lots from private parties. Africa-Israel
plans to buy five more lots from private parties, giving
it 25 lots with an aggregate area of 50 dunam (12.5 acres),
purchased for $90 million.
Africa-Israel owns 65% of the deal, while Jewish real
estate tycoon Shaya Boymelgreen, who partners Africa-Israel
in all its US projects, owns 35%. US banks will provide
financial coverage.
Africa Israel will construct 550,000 sq.m. of residential,
commercial, office, and parking space. The investment
is estimated at $1.2 billion, while projected sales proceeds,
or the equivalent in rent, amount to $1.5 billion.
On the occasion of Africa-Israel s 70th anniversary, Leviev
and Cohen disclosed particulars on the company s investments
in the Czech Republic, New York, and Namibia.
Leviev said, Seven years ago, I acquired control of Africa-Israel
at a company value of $440 million. I made a strategic
decision to turn it from a local company into an international
one. The company value is now $920 million, after we distributed
$180 million in dividends during this period.
Published by Globes [online] - www.globes.co.il - on June
23, 2004
Leviev and Boymelgreen Developers
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