Prestige Imports owner expands with $15M land buy

2.13-acre site is just north of the exotic car dealership

Sep.September 30, 2015 10:30 AM

A company tied to North Miami Beach-based Prestige Imports has purchased a retail property, gas station and car wash along Biscayne Boulevard, CEO Brett David told The Real Deal.

142 Realty LLLP, led by David, paid a combined $14.9 million for the 2.13-acre site at 15100, 151800 and 15200 Biscayne Boulevard. Master Carwash LLC, led by Edward Halac, was the seller.

The development site last sold for a combined $5.3 million, according to Miami-Dade property records. It’s just north of Prestige Imports, the exotic European car dealership founded by Irv David, who started the company by converting a gas station into a dealership.

Brett David told TRD he will keep the current tenants and may eventually take over the car wash and auto station. Prestige also has plans to expand its dealership, at 14800 Biscayne Boulevard.

Attorney Shawn Amuial of  Holland & Knight and Adam Tiktin of Marcus & Millichap worked on the sale, David said.

Prestige includes Lamborghini Miami, Pagani of Miami and Lotus of Miami. It’s across the street from Biscayne Commons and around the corner from SoLē Mia, the $4 billion, 183-acre master-planned community in North Miami that is aimed at revitalizing the long-vacant site of a former landfill.

“One of my biggest mentors is Jeff Soffer,” David said. “I love being a part of what he does and to have a piece of the surrounding area to complement his project will be amazing.”

Earlier this year, David told The Real Deal that he plans on opening a brokerage arm with his sister and partner Brooke David. The first step was a partnership with Paramount Miami Worldcenter.

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