The Real Deal Miami

Edie Laquer flips South-of-Fifth site for $8.25M

Laquer made more than double what she paid in 2014
By Katherine Kallergis | March 09, 2015 11:15AM

Edie Laquer and 145 t Washington Avenue in Miami Beach

Edie Laquer and 245 to 251 Washington Avenue in Miami Beach

A top commercial broker in Miami sold a prime piece of Miami Beach real estate after buying the South-of-Fifth lots out of foreclosure about a year ago.

Edie Laquer sold the 13,000-square-foot site at 245 to 251 Washington Avenue for $635 per square foot, according to Miami-Dade County records.

Laquer was represented by Peter Andolina and Karen Brady of Metro 1, which had the listing.

Laquer’s Sobe Second Street bought the vacant site in March 2014 for $3.95 million, according to property records. She sold it for $8.25 million last week, a South-of-Fifth record price, according to listing agents Peter Andolina and Karen Brady of Metro 1.

“The site is zoned for median-high density development and would be ideal for a luxury condominium or exclusive hotel,” Andolina said in a statement. “Approximately 22,750 square feet of development can be achieved on this site.”

Laquer, who was part of a partnership that bought the site in 2004, bought it out of foreclosure last year.

Green Card Fund Manager bought the site last week. Adam Hyatt is listed as a company manager, according to corporate records.