Haimov Family Completes Assemblage of Miami Beach Block

The Haimov family paid $12.5 million for a retail building in Miami Beach, giving them full control of a block near the Julia Tuttle Causeway. 

The 18,886-square-foot building has three addresses: 976 W 41st Street, 3915 Alton Road and 3907 Alton Road. The half-acre site is just east of the causeway, half a mile from Miami Beach’s Mount Sinai Medical Center.

Since 2021, the Haimov family has assembled the rest of the block, paying $20.1 million, according to property records. With the recent purchase, it now owns the full circular, 1.2-acre block. 

The Haimov family plans to redevelop the low-rise property, either into an office building or a luxury condo development, both with ground-floor retail space, according to Disruptive Real Estate’s Stefano Santoro, who brokered the sale. 

“They want to revitalize 41st Street,” the broker said.

The developer plans to break ground in the next 18 months and will seek density hikes to potentially build as tall as 20 stories, though plans are in the early stages. The family, which runs both the Haimov Jewelers business and the real estate firm Haimov Group, has already hired architect Kobi Karp to draw up the project. 

The seller, architect Ira Giller, whose family has owned the retail building since the 1980s, also wanted to redevelop the property. Last year, his firm filed plans to construct a seven-story, $38 million development, which would feature ground-floor retail space and 50,000 square feet of office space.

A representative for Ira Giller did not immediately respond to a request for comment.

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