Edgewater properties trade for $19M

Miami /
Apr.April 10, 2014 12:00 PM

An office building, retail building and parking lot in Miami’s Edgewater neighborhood changed hands for $19 million, The Real Deal has learned.

A Miami company called 2937 Ferrari sold the 2919 and 2935 Biscayne Boulevard buildings and 330 Northeast 30th Street parking lot last Friday, according to Miami-Dade County records. The county recorded the transaction Tuesday. Nancy Karp, wife of prominent architect Kobi Karp, is the manager of 2937 Ferrari.

Biscayne Acquisitions is the buyer. The Pinecrest-based company is managed by Simon Karam. It assumed mortgages totaling nearly $10.5 million as part of the transaction.

The purchase gives Biscayne Acquisitions control of the 2900 block of Biscayne Boulevard.

Edgewater continues to be one of the most active Miami neighborhoods when it comes to real estate investment. Over the last two months, Russian oligarch and developer Oleg Baybakov spent more than $30 million in three Edgewater property purchases. At least 10 new condo and condo-hotel developments are either proposed or under construction in the area.

Correction: An earlier version of this article did not include the 2935 Biscayne Boulevard purchase, which was recorded separately. 


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