Dezer buys Publix-owned site in Sunny Isles Beach, may plan condo tower

Deal is part of an assemblage of waterfront land totaling 4.5 acres

TRD MIAMI /
Oct.October 19, 2018 05:30 PM

Gil Dezer and land previously owned and/or currently owned by Publix, marked in yellow, while Dezer’s long-time owned properties are marked in red

Gil Dezer’s Dezer Development just closed on another piece of Sunny Isles Beach real estate – indicating the Porsche Design Tower developer may be embarking on yet another condo project in the area.

Property records show an entity tied to Dezer Development bought nearly an acre of waterfront land at 18320 Collins Avenue from Publix Super Markets for $31.7 million. Publix will retain ownership of the adjacent site of its recently renovated supermarket.

Since Dezer Development also owns land immediately to the north, the company now controls roughly 4.5 acres of land with significant frontage on the Intracoastal Waterway. Documents filed with Miami-Dade County indicate that Dezer Development may be planning a condo tower with a marina component on the parcel.

Dezer said in a statement that plans for new buildings are still under consideration. “We are still finding out the best use of the newly acquired property and the adjacent property that we have owned for about 20 years,” he said.

Records show Publix bought the land for $1.36 million in 1998.

Dezer previously told The Real Deal that the property features 13 acres of submerged land, which could be developed into a marina. He also mentioned a strong demand for product in the $500,000 to $1 million range in the western side of Sunny Isles Beach.

More and more multimillion-dollar condos are flooding Sunny Isles Beach. There is currently a 17-year supply of condos priced at $5 million or more in Sunny Isles, according to a recent report by EWM Realty International.


Related Articles

arrow_forward_ios
Sunny Isles Beach skyline (Credit: Getty Images)

Sunny Isles Beach imposes one-year development moratorium west of Collins Avenue

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

Boaters, rejoice: Waterfront Publix with boat access moves forward

Rendering of Turnberry Ocean Club and Jeffrey Soffer

Under-construction Turnberry Ocean Club condo tower scores $460M refi

Sunny Isles Beach skyline (Credit: Getty Images)

Sunny Isles Beach gives initial approval to moratorium on west-side development

Anuel AA and Porsche Design Tower (Credit: Getty Images, Wikipedia)

Puerto Rican rapper buys Porsche Design Tower unit

James Batmasian and 22973-23071 State Road 7

James Batmasian buys Publix-anchored Boca Raton shopping center

Regalia and one of its developers, Gilberto Bomeny (Credit: Getty Images)

Inside the saga that led Regalia’s developers to lose ownership of their most prized units

State report finds open gas valve fueled building explosion at Plantation shopping center

arrow_forward_ios