The Real Deal Miami

Former Miami office condo building trades for $13M

Company tied to Netz USA acquires Coral Way property, gets $9.5M loan
August 25, 2014 11:15AM

2103 Coral Way

2103 Coral Way

A terminated office condo building in Miami changed hands for $13 million.

Netz Coral Way acquired the 67,600 square foot building at 2103 Coral Way in a transaction recorded on Friday, according to Miami-Dade County records. The company is tied to Menachem Gurevitch’s New Haven, Conn.-based Netz U.S.A. Its parent company, Netz Group, is publicly traded on the Tel Aviv Stock Exchange.

City National Bank of Florida gave Netz a $9.5 million loan for the purchase.

Nonprofit 21/22 Condominium Association sold the building to Netz. It filed a Certificate of Termination for the office condo units in June. The building was originally constructed in 1983. — Eric Kalis