The Real Deal Miami

Jimmy Resnick picks up Chase Bank site along Coral Way

Miami 21 zoning code allows for multifamily development on site

August 14, 2015 10:30AM
By Katherine Kallergis

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Jimmy Resnick and the Chase Bank on Coral Way

Jimmy Resnick and the Chase Bank on Coral Way

The majority interest of a Chase Bank on Coral Way in Miami has sold for $7.65 million, according to Miami-Dade County records.

Washington Gardens No. Two Inc., which is led by Miami Beach investors Jimmy and Sara Resnick, acquired 60 percent of the property’s ownership on Aug. 10. James Resnick is the son of developer Abe Resnick.

The 22,887-square-foot building, at 2750 Southwest 22nd Street, last sold for $4.1 million in 2014, according to Miami-Dade property records. Before that, it sold for $6.725 million in 2011.

Under Miami 21 zoning code, the 1.6-acre site is zoned for T5-O, which is allows for additional lodging and entertainment establishments, and T4-R, which allows for the restricted development of multifamily housing. The two-story building was constructed in 1953 and includes a drive-thru bank teller.

Miami Core Long Term Investments 26 was the seller. Abbey Berkowitz, who has been described as a Miami Beach hotelier, is the LLC’s manager.

West on Coral Way, New York-based Greystone and Miami-based Alta Developers are completing The Mile, a planned 13-story building with 120 apartments and ground-floor retail space.

  • Kristian Toimil

    Correct me if I’m wrong, but they’ve been building something there in a space between the banks (I believe where the drive through tellers are). Is that going to be something different?