The Real Deal Miami

Sam Herzberg makes Little Havana acquisition

Investor picks up nine-property CVS site in Miami neighborhood for $14.5M

August 28, 2014 09:45AM
By Eric Kalis

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Future CVS at 2713 Southwest 8th Street (inset: Sam Herzberg)

Future CVS at 2713 Southwest 8th Street (inset: Sam Herzberg)

Sam Herzberg just made a big investment in Miami’s Little Havana neighborhood, The Real Deal has learned.

A company managed by Herzberg paid $14.5 million for a nine-property portfolio on Southwest 8th Street and 27th Avenue in a transaction recorded on Wednesday, according to Miami-Dade County records. The 1.8-acre site includes a 15,000 square foot CVS store that is under construction. Herzberg’s company obtained a $10.63 million loan from Wells Fargo Bank for the acquisition.

The seller is Christy D LLC, a Coral Gables company managed by Sergio Delgado.

Last month, the same Herzberg-led company paid $32 million for a Walgreens-anchored retail building in South Beach. Herzberg, who owns the Sterling Building on Lincoln Road, sold his portfolio in the Design District for more than $45 million to New York-based Thor Equities in May.

Grant Savage and Boris Kozolchyk of Pointe Group Advisors represented the seller. Arthur Sheppard of ICS Realty represented Herzberg’s company.

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