Once-prolific NYC developer Shaya Boymelgreen does another Florida deal

To build hotel on Surfside site where he had planned townhouses

Miami /
Mar.March 29, 2022 04:00 PM
Eyal Peretz and Shaya Boymelgreen with 9300 Collins Avenue (Fusegroup, Getty, Google Maps)

Eyal Peretz and Shaya Boymelgreen with 9300 Collins Avenue (Fusegroup, Getty, Google Maps)

Jeshayahu “Shaya” Boymelgreen has had an up-and-down relationship with New York City. He hooked up with diamond billionaire Lev Leviev on numerous projects in the early 2000s, although the partnership was later dissolved.

Boymelgreen ran into trouble later that decade, including civil lawsuits filed against him. The New York attorney general banned him for two years from offering or selling securities, including condos.

But South Florida, as it has for some other New York developers who have run into problems in the Empire State, has proven an attractive market for him.

In his latest deal in the Miami market, Boymelgreen scored a $30 million construction loan for a hotel in Surfside, on a site the developer previously planned for a townhouse complex.

Boymelgreen plans to build a three-story, 200-key hotel at 9300 Collins Avenue, according to Eyal Peretz, CEO of the lender, Fort Lauderdale-based Fuse Group. The hotel will have three rooftop pools, according to a 2019 Surfside commission agenda item.

Attorney Michael Gallinar of Miami-based Adams Gallinar represented Fuse Group in the deal.

Boymelgreen previously planned to build a luxury residential complex with 68 townhouses, and scored a $23.5 million loan for that project in 2018.

The 2.9-acre non-waterfront site is on the west side of Collins Avenue, across from the Fendi Château Residences condominium. The property remains vacant, except for a two-story, historically designated facade remaining from an apartment building that was previously on the site.

Boymelgreen used several limited liability companies to put together the assemblage in 2013 and 2015 for a combined $26.5 million. The entity that owns the development site, Eden Surfside LLC, is managed by Menachem Boymelgreen, state corporate records show.

Shaya Boymelgreen did not return a request for comment.

The Israeli-born developer and his family also have had real estate interests in Miami-Dade County. An entity controlled by his wife, Sarah, and others had planned to build a residential project along Miami Beach’s Pine Tree Drive, but sold the site for $31 million in 2017.

Surfside is Miami Beach’s low-key neighbor to the north, yet still an enclave of high-end real estate.  The site is about five blocks from the tragic June collapse of the oceanfront Champlain Towers South, which killed 98 people.

Alex Sapir’s Sapir Corp. and Giovanni Fasciano developed the 12-story, 16-unit Arte Surfside oceanfront condo building at 8955 Collins Avenue in 2020.

In 2017, Fort Partners completed the Four Seasons Residences at the Surf Club with a 72-key oceanfront hotel and 150 condos.





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