fbpx

Edgewater Developers Plan A Residential Development With 160 Units

Developers have set their sights on the booming Edgewater neighborhood in Miami, with plans to construct a 160-unit residential project on the site currently occupied by a Midas auto repair shop. The Miami Urban Development Review Board will be reviewing the proposal for a 20-story building featuring ground-floor retail at 2140 Northeast Second Avenue. Designed by Zyscovich Architects, the project has been named Edgewood 22. While specific details regarding the units (apartments or condos) have not been outlined in city records, the project is progressing through the approval process following a shift in the development team.

Originally, the project was slated to be the inaugural Miami venture for Heritage Equity Partners, based in Brooklyn. Last February, Heritage acquired the half-acre site for $6.3 million and disclosed plans for an 18-story, 120-unit rental project. However, Heritage has encountered financial difficulties and foreclosure litigation in New York, including the loss of The Williamsburg Hotel in a bankruptcy auction.

In December, an entity connected to Moskovitz and Yechial Lichtenstein sold the lot for $4.8 million to Edgewood 22 LLC, which also acquired adjacent lots totaling 0.2 acres at 162 Northeast 22nd Street for $2.5 million. The new Edgewood 22 development team is led by Miriam Gross and Simon Lichtenstein, according to Michael Lichtenstein. While records suggest others may also be involved, Michael clarified that despite familial ties, there is no business relationship between himself and Simon.

Gross, who was formerly associated with Heritage, has not been affiliated with the company for several years. The Edgewood 22 entity is also registered to Nahman Lichtenstein, Michael Lichtenstein’s father, according to state corporate filings.

The Edgewood 22 project is part of a broader trend of increased development activity in Edgewater. SB Development and Hazelton Capital Group, based in New York, recently launched condo sales for their planned 40-story, 116-unit tower at 456, 480, and 496 Northeast 29th Street. Additionally, LCOR has proposed a 42-story, 544-unit apartment tower at 1775 Biscayne Boulevard, situated on the border of Edgewater and the Arts & Entertainment District.

“For over 15 years, US Asset Loans have been providing funding to Real Estate investors”

Reach out today at [email protected]

 

Property Deals

SUNNY GROVE APARTMENTS 1440 SW 42nd Ave Miami, FL 33134

Fausto Commercial Realty is proud to present the Sunny Grove Apartments, located at 1440 SW 42nd Avenue, Coral Gables, FL. This premier multifamily property...

Flagler Street Retail Center 4735 W Flagler St Coral Gables, FL 33134

Investment Highlights: Prime Redevelopment Potential: Positioned under the Live Local Act, the property at 4731-4747 W Flagler Street offers an ideal redevelopment opportunity in...

Caribbean Shoppes | 19501-19577 NW 2nd Ave Miami, FL 33169

Caribbean Shoppes: A Stable Investment Opportunity in Miami's Growing Market Prime Location & Established Clientele: Iconic retail center on busy Highway 441 commercial corridor. Fully...

More Posts