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LA developer plans Little Havana short-term rental hotel
David Herskowitz’s Icon at 8 purchased Calle Ocho bakery from Bill Fuller and Martin Pinella, as well as an adjacent lot from a separate seller
UPDATED, Aug. 16, 11:05 a.m.: Los Angeles developer David Herskowitz is planning to build a short-term rental hotel in Little Havana, the first of its kind in the historic Miami neighborhood.
Designed by Miami-based Modis Architects, the proposed 12-story, 140-room building would rise on an assemblage at 930, 940 and 950 Southwest Eighth Street that his company, Icon on 8, acquired, Herskowitz said.
“It’s going to be a colonial style hotel similar to what you see in Havana,” Herskowitz said. “We see potential in that area [of Southwest Eighth Street], which is underdeveloped. And we are only six blocks away from Brickell.”
The hotel will offer daily, weekly and monthly rates, Herskowitz added.
Icon on 8, also co-led by Herskowitz’s partner Moti Maaravi, paid $2.7 million for a corner bakery at 950 Southwest Eighth Street in May, records show. The seller is an entity managed by Little Havana property owners and developers Bill Fuller and Martin Pinilla. They are also principals of The Barlington Group, which earlier this year expanded into Palm Beach County with a $14.4 million shopping plaza acquisition in an unincorporated area between Wellington and Greenacres.
In July, Icon at 8 paid Penta Development Associates in Miami $2.6 million for an adjacent Little Havana vacant lot, as part of its assemblage, records show. Icon on 8 also secured a $1.5 million mortgage from Roseville, California-based Asset Preservation for the vacant lot.
Arthur Porosoff and Javier Ubeda with Compass brokered both the Icon on 8 deals, Herskowitz said.
In addition to 140 rooms, the proposed short-term rental hotel will have a rooftop terrace and a second-floor lounge, Herskowitz said. Icon on 8 has submitted a rezoning request with the city of Miami for the bakery site, and Modis is finalizing the development plans, Herskowitz said. The hotel will be featured on Airbnb and other platforms.
In Los Angeles, Herskowitz builds custom mansions with his partner Santiago Arana, including a two-story, eight-bedroom home in the city’s Brentwood neighborhood that NBA superstar Lebron James bought for $23 million in 2017. Herskowitz and Arana also developed and sold a spec mansion across the street from James’ property in 2019 for $22.7 million.
Herskowitz said he and his partner also developed a couple of spec mansions in Pinecrest and one near Coconut Grove, but the Little Havana hotel will be his first commercial project in South Florida.
Icon on 8 expects to break ground in 15 months, and the entire project will take up to two years to complete, Herskowitz said.