Hospitality developer Alan Lieberman buys land in North Beach for $5.5M

Hospitality developer said he hasn't decided what he'll build on the site

Feb.February 09, 2017 02:40 PM

Alan Lieberman and a rendering of what could be built on the North Beach land (Credit: Getty Images)

A company tied to Miami Beach hotelier Alan Lieberman paid $5.5 million for a development site in North Beach.

Records show MYPP Holdings LLC sold the 20,414-square-foot site at 6375 Indian Creek Drive, 6372 and 6382 Collins Avenue in Miami Beach to 6372 LLC. Lieberman owns the South Beach Group, which has 18 hotels, restaurants and bars on the beach.

Lieberman told The Real Deal he hasn’t decided what he’ll built on the property, but that it will incorporate parking.

Kevin Yungman of MBA Real Estate Management has the parcels on the market for $5.8 million, according to Loopnet. Yungman was not available for comment. The seller, MYPP, lists a Weston address of a UPS store. The Delaware company’s website only shows renderings and a map of 6372 Collins Avenue. Records show MYPP, led by Indhira del Giudice, assembled the three parcels in 2012 for a combined $3 million.

This latest $5.5 million sale breaks down to nearly $270 per square foot for the land.

In January, New York developer Jason Halpern sold a development site farther south on Indian Creek Drive for $7.75 million. Halpern’s JMH Development planned to develop the land into a condo project, and had already secured approvals for a 15-unit building. A company tied to Madison Estates Real Estate bought that land.

Lieberman and his wife, Diane Lieberman, built and sold an ultra-modern waterfront mansion in Bal Harbour for $8.5 million last year. Diane Lieberman is a vice president of One Sotheby’s International Realty. She sold her brokerage, South Beach International Realty, to One Sotheby’s in 2015.

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