Archbishop Curley Notre-Dame sells for $60M, Avenues to open private school

Family heir to The Gap bought 15-acre site in Little Haiti

Miami /
Nov.November 28, 2018 06:00 PM

From left: Bill Fischer and Benno C. Schmidt. (Credit: Google Maps)

An heir to The Gap family fortune just bought the former Archbishop Curley Notre-Dame High School site in Little Haiti for $60 million, with plans to bring an exclusive private school to Miami, sources said.

A Delaware company, VE FL I Operating LLC, bought the 15.5-acre former Catholic high school at 4949 Northeast 2nd Avenue for $3.8 million per acre, according to property records. The LLC’s address is tied to a trust with the same San Francisco address as the family investment firm of Robert Fisher, the chairman of The Gap, property records show.

Sources told The Real Deal that the buyer plans to bring Avenues: The World School to the site. New York-based Avenues is an exclusive private school where tuition costs are over $54,000 per year, according to its website. It has been mentioned by The New York Times and other outlets as one of the top private schools in the world.

Avison Young’s David Duckworth, John K. Crotty, and Michael T. Fay brokered the sale.

The purchase ends speculation as to who would buy the property after Edmonton-based Triple Five Group pulled out of the deal in recent months.

The Archdiocese of Miami closed the Archbishop Curley Notre-Dame High School in 2016. Late that year, it reportedly received a $65 million unsolicited offer for the property.

In September 2017, it hired Avison Young’s David Duckworth, John K. Crotty and Michael T. Fay and Bezold Realty to market the site, unpriced. Bids were due two months later in November 2017.

Triple Five Group, which is planning to build a $4 billion American Dream mall in Miami, was originally reported to be under under contract to buy the property in May.

Triple Five planned to apply for Special Area Plan zoning for the Archbishop Curley campus, where it would build apartments, condominiums and retail space, Robert Gorlow, a Miami Lakes-based consultant for Triple Five had said. Gorlow confirmed to TRD in October that the company withdrew its offer, but declined to comment further, citing a confidentiality agreement.

In 2012, Avenues opened its first school in the U.S. in New York City’s Chelsea neighborhood. In January, the school opened its second campus in São Paulo, Brazil. The school was founded by Benno Schmidt, the former president of Yale University and dean of Columbia Law School; Chris Whittle, the former owner of Esquire magazine; and Alan Greenberg, the former publisher of Esquire who owned a media company acquired by WebMD in 1999.

The New York school’s renovations were largely funded by raising $75 million from two private-equity firms.

A spokesperson for Avenues did not return multiple requests for comment by phone and email.

The property in Little Haiti is north of the Miami Design District and west of the Upper East Side neighborhood. It’s near two major project sites, the Eastridge Special Area Plan at 5045 Northeast Second Avenue and the planned $200 million redevelopment and expansion of the Jewish Health Systems campus.

Little Haiti is also home to the planned 17.7-acre Magic City Innovation District.


Related Articles

arrow_forward_ios
Mallory Kauderer and 5501 Northeast Second Avenue (The Porosoff Group, Twitter, Getty)
Churchill’s Pub in Little Haiti hits market
Churchill’s Pub in Little Haiti hits market
Rendering of 830 Brickell office tower; Cushman & Wakefield's Brian Gale, JLL's Manny De Zárraga, Avison Young's Donna Abood, Dwntwn Realty Advisors' Tony Arellano and Stephen Rutchik. (Credit: OKO Group and Cain International, JLL, CW, Dwntwn Realty Advisors, Cushman & Wakefield, Avison Young, Getty, 830 Brickell)
Meet the commercial brokers making bank in Miami
Meet the commercial brokers making bank in Miami
Tonino Doino and Peter Saliamonas with Jimmy’s Eastside Diner
Jimmy’s Eastside Diner, featured in “Moonlight,” has a new owner
Jimmy’s Eastside Diner, featured in “Moonlight,” has a new owner
Crunch Fitness and Big Move Properties' Douglas Levine with  8200 Northeast Second Avenue and 201 Northeast 82nd Street (Google Maps, Lead Edge Capital)
Crunch Fitness founder beefs up retail portfolio with $18M purchase in Little Haiti
Crunch Fitness founder beefs up retail portfolio with $18M purchase in Little Haiti
From left: Future Cities' Tony Cho, Plaza Equity Partners' Anthony Burns and George Helmstetter, Dragon Global's Bob Zangrillo and Plaza Equity Partners' Neil Fairman (Future Cities, Plaza Equity Partners, Dragon Global)
Tony Cho exits Magic City Innovation District project in Little Haiti
Tony Cho exits Magic City Innovation District project in Little Haiti
Innovation District (DB Lewis Architect-Thresholds Intl, iStock)
Mike Zoi’s Motorsport firm proposes offices at Magic City Innovation District
Mike Zoi’s Motorsport firm proposes offices at Magic City Innovation District
A map from the report (The Leroy Collins Institute at Florida State University, iStock)
Sea-level rise to prompt displacement of Miami’s low-income, minority communities, study finds
Sea-level rise to prompt displacement of Miami’s low-income, minority communities, study finds
Long-stalled, controversial Little Haiti project heads to Miami commission vote
Long-stalled, controversial Little Haiti project heads to Miami commission vote
Long-stalled, controversial Little Haiti project heads to Miami commission vote
arrow_forward_ios

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

Loading...