Miami Beach property tied to jailed developers sold

Receiver for Cohens sells Maclee Building for $14.3 million

Mar.March 25, 2014 12:45 PM

A receiver for a company tied to jailed father-and-son developers Mauricio Cohen Assor and Leon Cohen-Levy sold the Maclee building in Miami Beach for $14.3 million, The Real Deal has learned.

About three years after the duo was sentenced to 10 years in prison for tax evasion, their Showtime Theatres of Florida unloaded the 429 Lenox Avenue office building and two small parcels through receiver Lawrence Gordich, according to Miami-Dade County records. The sale of the more than 80,000-square-foot building, which includes nearly 44,000 square feet of office space, closed on March 13. The county recorded the transaction last Friday.

GIG VAOI Fifth and Lenox of Atlanta is the buyer. The company shares an address with Goddard Investment Group. No financing was recorded.

After the Cohens were sentenced, Gordich was tasked with selling a portfolio of several South Florida properties owned by companies previously controlled by the family. The portfolio includes a property at 330 Biscayne Boulevard that was going to be the site of Empire World Towers, a high-rise condo project abandoned after the developers got into trouble.

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