Aby Rosen’s RFR Buys Third Biscayne Boulevard Building

reprints


Aby Rosen’s RFR Holding has struck again along Biscayne Boulevard, Miami’s main artery, purchasing a parcel adjacent to one he bought earlier this week. 

The New York-based firm dropped $25 million for a 12-story office building at 141 NE 3rd Avenue, property records show. The building neighbors a 241-room hotel that faces Biscayne Boulevard, which RFR bought earlier this week for $25.8 million. 

SEE ALSO: Harbor Group Sells Pompano Beach Apartment Complex for $96M

RFR, co-led with Michael Fuchs, also owns another property along the boulevard, the 30-story 100 Biscayne office building, which the firm purchased for $81 million in January. 

Together, the three buildings form an L shape at the corner of Biscayne Boulevard and NE 2nd Street. Only two buildings on the square block between NE 2nd Street, NE 3rd Avenue and Biscayne Boulevard remain out of RFR’s control, but the company’s plans for the properties remain unclear. A representative for RFR has yet to not provide a comment. 

RFR’s latest purchase spans 55,431 square feet. The seller, The Balogh Companies, has owned the property since 1978 when it paid $580,000 for the site, according to records. A representative for the company did not immediately respond to a request for comment.

MSD Partners awarded $20 million to finance RFP’s acquisition, in addition to the $107 million it loaned for the other two purchases. Newmark‘s Dustin Stolly and Jordan Roeschlaub arranged the transaction. 

In New York, Aby Rosen is a prominent — but also controversial — figure, owning marquee properties, including the Seagram Building and Chrysler Building.

Soon after the Seagram Building purchase in 2014, he removed Pablo Picasso‘s “Le Tricorne” tapestry to the ire of art lovers and conservationists. The artwork now stands inside the New-York Historical Society.

Julia Echikson can be reached at jechikson@commercialobserver.com.