Prestige Imports owner expands with $15M land buy

Miami /
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.


Related Articles

arrow_forward_ios
A rendering of Villa Solé with Jackie Soffer of Turnberry Associates and Richard LeFrak of the LeFrak Organization (Rendering courtesy of SoLé Mia, Getty, Turnberry)
SoLé Mia in North Miami scores $32M multifamily construction loan
SoLé Mia in North Miami scores $32M multifamily construction loan
A Biscayne Boulevard development site between Miami Shores and North Miami hit the market for $11M. (Jio Realtor)
Biscayne Boulevard dev site hits market for $11M
Biscayne Boulevard dev site hits market for $11M
3333 Biscayne Boulevard (Marcus & Millichap)
Biscayne Boulevard development site in Edgewater lists for $50M
Biscayne Boulevard development site in Edgewater lists for $50M
2095 Northeast 121st Road, North Miami (Realtor)
Centinela Tequila family buys waterfront spec mansion in North Miami for $10M
Centinela Tequila family buys waterfront spec mansion in North Miami for $10M
Renders of the new development on 1155 Northeast 126th Street (Kivvit)
North Miami CRA approves financing for new workforce housing development
North Miami CRA approves financing for new workforce housing development
Bent Philipson and 1235 Northeast 135th Street (Linked, Google Maps)Bent Philipson and 1235 Northeast 135th Street (Linked, Google Maps)
Healthcare magnate spends $24M on sixth South Florida nursing home
Healthcare magnate spends $24M on sixth South Florida nursing home
A rendering of 14752 Northeast Sixth Avenue
Global One plans housing project near North Miami
Global One plans housing project near North Miami
A rendering of the Intracoastal Mall and Gil Dezer
Dezer’s plans to remake Intracoastal Mall face opposition
Dezer’s plans to remake Intracoastal Mall face opposition
arrow_forward_ios

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

Loading...