Terra Group sells new Sunny Isles Beach homes for $28M

Miami /
Jul.July 15, 2015 01:30 PM

Terra Group has sold out Atlantic 15, a 15-home community it developed in Sunny Isles Beach this year, The Real Deal has learned. 

Closings for the single-family homes began in April, Miami-Dade County records show. Atlantic 15 is located between Atlantic Avenue and Collins Avenue and between 189th Street and 191st Street. Terra assembled the parcels in November 2012 and spent about $4.2 million on the land, Terra Group President David Martin told TRD.

PPK Architects designed the homes, which sit on lots in the 4,000-5,000 square foot range. The gated, two-story homes include rooftop terraces that overlook Collins Avenue and the beach, Martin said. Locals, up-market buyers, existing condo owners and South Americans purchased the properties.

“We saw a void for single-family homes in Sunny Isles Beach,” Martin said. “We wanted to bring a more contemporary look and feel to Sunny Isles.”

Five closings have been recorded in county records as of Wednesday. Martin said the development sold out for about $28 million.

  • Alberto Micha Buzali and Sharon Nedvedovich de Micha paid $1.35 million for the 5,099-square-foot property at 18915 Atlantic Boulevard in April, records show. Buzali works at Dacar Management, a Dania Beach-based commercial real estate firm.
  • Leon Bibas picked up 18935 Atlantic Boulevard for $1.5 million in June.
  • The Chehebars acquired three adjacent homes for $1.5 million each. Casa SI LLC, a company led by Abraham Chehebar, paid $1.5 million for 18955 Atlantic Boulevard in June. Elaine Chehebar paid $1.5 million for 18945 Atlantic Boulevard in July. Abraham purchased the third, 18965 Atlantic Boulevard, for $1.5 million also in July.

Terra’s portfolio spans from Coconut Grove, Miami Beach and Sunny Isles to Pembroke Pines, Doral and Weston. Other low-density projects include Glass, Eighty Seven Park, Grove at Grand Bay, Botaniko.


Related Articles

arrow_forward_ios
Jeffrey Soffer and Turnberry Ocean Club (Getty, iStock)

Argentine politico drops $12M on two units at Turnberry Ocean Club

Argentine politico drops $12M on two units at Turnberry Ocean Club
Inside look at the Ritz-Carlton Residences Sunny Isles: PHOTOS

Inside look at the Ritz-Carlton Residences Sunny Isles: PHOTOS

Inside look at the Ritz-Carlton Residences Sunny Isles: PHOTOS
David Martin, Central Shopping Plaza, and a rendering of the apartment complex

Terra proposes 1,384-unit apartment complex near Magic City Casino

Terra proposes 1,384-unit apartment complex near Magic City Casino
Terra CEO David Martin and 16000 Pines Boulevard, Pembroke Pines

Terra, Lennar’s Pembroke Pines townhome project advances

Terra, Lennar’s Pembroke Pines townhome project advances
David Martin and a rendering of the project

Voters reject Terra’s proposal to redevelop Miami Beach Marina with condo tower

Voters reject Terra’s proposal to redevelop Miami Beach Marina with condo tower
Turnberry Ocean Club and Jeffrey Soffer (Getty)

Closings begin at newly completed Turnberry Ocean Club in Sunny Isles

Closings begin at newly completed Turnberry Ocean Club in Sunny Isles
Icon unit tops list of most expensive condo sales in Miami-Dade (Google Maps; Icon Brickell)

Condo sales and dollar volume up from last week

Condo sales and dollar volume up from last week
Eighty Seven Park (iStock)

Eighty Seven Park’s priciest penthouse sells for $37M

Eighty Seven Park’s priciest penthouse sells for $37M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...