BH3 scoops up LGD Communications’ building in the Design District

In March BH3 bought the neighboring building for $9M

TRD MIAMI /
Oct.October 02, 2017 11:45 AM

From left: BH3 principals Charlie Phelan, Greg Freedman and Daniel Lebensohn and 3819 N Miami Ave (Credit: BH3, Google Maps)

An affiliate of BH3 just bought the LGD Communications building at the entrance of the Miami Design District for $6.1 million, property records show.

The entity, 3819 NMA Sub LLC, managed by Jarrett Freedman, bought the 5,093-square-foot building at 3817 and 3819 North Miami Avenue for about $1,197 per square foot.

The principle of LGD Communications, Leonard Dugow, sold the building. Records show a company led by Dugow first bought the building in 2003 for $1 million. Dugow later transferred the building to his name in 2009 for $1.3 million.

Built in 1924, the LGD Communications building sits on a 5,760-square-foot lot. In March, BH3 bought the neighboring building at 3801 and 3811 North Miami Avenue for $9 million.

BH3 principal Daniel Lebensohn said via text that the parties involved are exploring various possibilities for a mixed-use project on the site. He gave the example of a retail showroom or high-end office space.

“At present our commercial tenants remain and no immediate plans are in effect,” he wrote.

Once completed, by the end of 2018, the Design District feature about 120 stores and at least 15 eateries in the neighborhood. Currently nearby stores include Hermès, Tiffany & Co., Louis Vuitton and Dior.

The Design District is broadly defined as the area from Biscayne Boulevard to North Miami Avenue, and from the north side of 36th Street to 42nd Street, with the center the Paseo Ponti and First Avenue.

In May, Aventura-based BH3 paid $13.5 million for a six-story, beachfront hotel in Hillsboro Beach with plans to renovate the property.


Related Articles

arrow_forward_ios
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen

Privé at Island Estates developer sues Suffolk Construction over defects

Privé at Island Estates developer sues Suffolk Construction over defects
Remy Jacobson, Jean-Marc Jacobson, 4141 North Miami Avenue (Credit: Google Maps and REALTOKEN)

Remy Jacobson allegedly in default on Design District loan: lawsuit

Remy Jacobson allegedly in default on Design District loan: lawsuit
Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings
Vlad Doronin, Len Blavatnik, and 3425 Collins Avenue (Credit: Google Maps, Gesi Schilling, and Mark Neyman / GPO)

Developer of Aman-branded towers in Miami Beach scores $35M loan

Developer of Aman-branded towers in Miami Beach scores $35M loan
Clockwise from top left: 3995 North Miami Ave., 5 Northeast 39th St., 1 Northeast 40th St. through 35 Northeast 40th St. (Credit: Google Maps, iStock)

Lender lists troubled RedSky’s Miami Design District portfolio

Lender lists troubled RedSky’s Miami Design District portfolio
Renderings of Miami Plaza and Carlos and Martin Melo

Melo Group launches preleasing for latest A&E rental tower

Melo Group launches preleasing for latest A&E rental tower
Alain and Gerard Wertheimer with the Chanel space on 41st Street (Credit: Chanel, Julien Hekimian/WireImage/Getty Images, and Google Maps)

Chanel to open store in Miami Design District

Chanel to open store in Miami Design District
Quadro at Design District and Rainmundo Onetto

Alta Developers launches sales of Quadro at Design District

Alta Developers launches sales of Quadro at Design District
arrow_forward_ios

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

Loading...