New condo project planned near downtown Hollywood

Ricardo Grinberg and Eduardo Jakubowicz want to build Monroe Residences, a 40-unit project

TRD MIAMI /
Apr.April 13, 2018 06:15 PM

Rendering of Monroe Residences

The Hollywood Planning and Development Board Thursday approved the design and site plan for Monroe Residences, a five-story, 40-unit condominium near downtown.

The developer, Gusmell, LLC, is led by Ricardo Grinberg and Eduardo Jakubowicz. The project, at 1840 and 1850 Monroe Street, marks their first development in Hollywood.

The site is currently home to multiple buildings with a total of nine residential units.

The proposed development will have four three-bedroom units, 16 two-bedroom units and 20 one-bedroom units. The condos will be moderately-priced, Grinberg said. A two-bedroom unit will cost roughly $350,000, he said.

Amenities will include rooftop green space, access-controlled parking with 44 spaces, a pool, a gym and a barbecue and picnic area.

Grinberg said the Hollywood project will cost about $7 million to develop, including construction and land costs. While the partnership may seek financing later on, he said that he and Jakubowicz hope to begin construction with their own funds by September of this year. He said he and his partner have 15 reservations for units so far.

Gusmell, LLC, paid $492,500 for 1840 Monroe in 2007 and $160,000 for 1850 Monroe in last year.


Related Articles

arrow_forward_ios
Jeffrey Soffer and the Diplomat Beach Resort (Credit: Getty Images)

Jeffrey Soffer in talks to buy 1,000-room Diplomat Beach Resort for under $1B: report

Left to right: Debbie Orshefsky, Seth Bour, Vivian Dimond, Peter Flint, Tim Wheat and Chip Abele

Hollywood attracts developers but lacks new office space: panel

Moses Bensusan and Costa Hollywood Resort (Credit: Wikipedia)

Embattled Costa Hollywood Resort files for bankruptcy

Daily Digest Miami

Landmark bank in downtown Hollywood could be torn down for rentals, Miami-Dade approves $300M cruise terminal: Daily digest

Diplomat Beach Resort at at 3555 South Ocean Drive

Brookfield’s Hollywood Diplomat scores $168M refi

Publix plans to build and open a grocery store in Hollywood (Credit: Getty Images, Pixabay)

Boaters, rejoice: Waterfront Publix with boat access moves forward

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

arrow_forward_ios