MIAMI | JDS Assemblage (South Beach/West Avenue) | FT | FLOORS

[chris08876]

New York developer spends $42M assembling block on South Beach

An affiliate of New York-based JDS Development Group spent a combined $41.9 million during May and June acquiring 13 lots along Monad Terrace in South Beach.

The small street is located between West Avenue and the Intracoastal Waterway near 13th Street. It’s on the south side of the Wavery condominium.

Monad Terrace Property Owner, an affiliate of JDS Development Group led by Michael Stern, snapped up 13 homes and small multi-family buildings on Monad Terrace over the course of two months. The land totals 61,846 square feet.

New York-based EO Monad Terrace LLC provided a $46.8 million loan to the buyer.

Here’s a rundown of what it paid for each piece. (Some sellers got much better deals than others.)

$1.7 million to Barbara Crosara for 5,120 square feet at 1310 Monad Terrace.
$900,000 to Robert and Catherine Casanova for 4,200 square feet at 1305 Monad Terrace (on West Avenue).

$1.02 million to Robert Laboranti and Carolyn Sanders for 3,500 square feet at 1325 Monad Terrace.

$900,000 to Isis, Isora and Ivis Rodriguez for 3,500 square feet at 1355 Monad Terrace.

$1.95 million to Madelin Valles for 3,500 square feet at 1315 Monad Terrace.

$4.3 million to Anderson and Carmen Castro for 6,320 square feet at 1300
Monad Terrace (on West Avenue)

$3.58 million to Moonshinephoto for 5,120 square feet at 1320 Monad Terrace.

$3.58 million to Twilightphoto for 5,120 square feet at 1340 Monad Terrace.

$1.5 million to Fernando Anibal Martinez for 3,500 square feet at 1345 Monad Terrace.

$2.8 million A.M. and Kyriaki Nares for 5,120 square feet at 1360 Monad Terrace.

$9.8 million to Irit Aviv for 3,500 square feet at 1365 Monad Terrace.

$4.68 million to Aviv for 8,226 square feet at 1375 Monad Terrace (on the water).

$5.23 million to Edmond Laufer’s Exitphoto for 5,120 square feet at 1370 Monad Terrace (on the water).

Stern couldn’t immediately be reached for comment. JDS is a partner with Property Markets Group in both Echo Aventura and Echo Brickell, so perhaps it has something big planned here.

The only lot on the block that has yet to sell its piece is 1335 Monad Terrace.

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http://www.bizjournals.com/southflor...-block-on.html

[dave8721]

Unless they wave the height limits it wont be over ~ 16 floors unfortunately. South Beach put in some pretty strict height limits back in the 2000's.

[chris08876]

I'm hoping maybe for 300 feet. I know 500 Alton was shot down (500 ft), but there's hope if they have a reasonable height. With Stern running the show, something reasonable may go up. There's I believe a 25 floor tower nearby, so something in the 30 floor range could be a possibility.

[chris08876]

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Credit: http://miami.curbed.com/archives/201...e-dead-end.php