The Real Deal New York

Chetrit drops nearly $98M on Miami assemblage

Plans call for four towers along Miami River
August 18, 2014 02:40PM

From the South Florida website: New York-based developer the Chetrit Group landed a $97.5 million deal for 6.5 acres in Brickell that will become Miami Riverwalk.

Plans for the complex call for four towers that would include residential, hotel, retail space and a marina on 700 feet along the Miami River, according to the Palm Beach Daily News. Chris Deitz of Fite Shavell & Associates has brokered

Joe and Meyer Chetrit of CG Florida Properties in partnership with Miami developer Ari Pearl, purchased the eight adjacent properties with 20 addresses.

“In early 2012, the real estate on the island was still slow, and I heard that Miami was starting to take off again,” Deitz said. “I went down and started to scout areas where I could assemble property in close proximity of other upcoming developments. I proceeded to call over the next few months and secured a continuous assemblage of property.” [Palm Beach Daily News]Christopher Cameron