Developer Proposes Boutique Resi Building Near Lincoln Road in Miami Beach
By Julia Echikson January 12, 2023 2:42 pm
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After shelling out nearly $50 million for a boutique office building near Miami Beach’s Lincoln Road, the owners now want to build an apartment building on its parking lot.
An entity managed by Ophira Cukierman proposed a 24-unit residential building at 1709 Jefferson Avenue, along 17th Street, only a block from the retail promenade. The half-acre site currently holds a surface parking lot serving the nine-story office building across the street, located at 1688 Meridian Avenue, and designed by famed architect Morris Lapidus.
The developer bought the property for $49.5 million in 2021, according to property records. Cukierman is a principal at Greenacres Management, a firm based in Scarsdale, N.Y., that handles U.S.-based acquisitions for a family office based in Germany.
Called The Morris Residences, the four-story development is expected to cost about $15 million to construct and is slated to include a parking lot with 25 spots, a gym and a shared office. It’s unclear whether the units, set to average 913 square feet, will be condos or rentals.
Miami Beach’s historic preservation board will consider the proposal on Feb. 14. If approved, it would add another low-rise, boutique residential building around 17th Street.
The lawyer representing the developer, Michael Larkin of Bercow Radell Fernandez Larkin & Tapanes, did not immediately respond to a request for comment.
In 2019, Turnberry Associates, led by Jackie Soffer, completed a five-story rental building between West Avenue and 17th Street that features a Trader Joe’s on the ground floor and 24 apartments on the upper floors.
A year later, developer Ronny Finvarb opened the Kimpton Hotel Palomar South Beach, a five-story hotel at 1750 Alton Road.
Julia Echikson can be reached at jechikson@commercialobserver.com.
