Sapir Corp. Selling Edgewater Site

October 22, 2019 in Edgewater, Miami, Real Estate, Sapir Corporation

Sapir Corp. along with partners CNMB International and G-Resources are looking to sell a 60,000 square foot site at 1768 Northeast Second Court in Edgewater, according to The Real Deal.

The site was purchased in June 2017 for $33 million after being in contract since July 2016 with the intention to build a 60 story and 40 story tower with 1,200 rental units and 350,000 square feet of office space.

The site is zoned for 1.4 million square feet of space with 735 residential units.

Sapir Corporation is developing the nearly completed 12 story Arte in Surfside.

ASRR Capital To Build Two Towers In Edgewater

June 07, 2017 in Arts & Entertainment, Edgewater, Miami, Real Estate, Sapir Corporation

ASRR Capital with partners CNMB International and G-Resources have closed on a site in Edgewater for $33 million after being in contract since July 2016, according to The Real Deal.

The site spanning 60,000 square feet is located between NE 2nd Ave and NE 2nd CT between NE 17th Terrace and NE 18th St. ASRR Capital is planning to build two towers at 60 stories and 40 stories with 1,200 rental units, 20,000 square feet of retail and 350,000 square feet of office space.

The Padel Courts on the Southwest corner of the block was not included in the purchase.

What Is ASRR Capital Ltd. Planning For Edgewater Site?

July 21, 2016 in Edgewater, Miami

In December 2015, 17th & Second Ave Properties Corp controlled by Enrique Manhard and Vivane Sasson de Manhard purchased almost a block of land in the Edgewater district from NE 2nd Ave and NE 2nd CT and between NE 17th Terrance and NE 18th St.

The site was then sold to ASRR Capital Ltd., led by Alex Sapir and Rotem Rosen in February 2016 for $33 million. Since the land was purchased, a church built in 1945 and a three story building built in 1924 have been demolished.

The S&S Diner received an eviction notice and is supposed to be out of the building by today.

ASRR Capital Ltd. has not revealed what they plan to do with the site, but they partnered with investors CNMB International and G-Resources Group for a 67 percent interest in the project.

Across the street from the site, a Vib Hotel was planned on a 7.4 acre land and scheduled to break ground in 2015, but no activity has occurred on the land.

Update - S&S Diner is allowed to stay in business until the court decides if the their lease extension is valid.