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Lefferts, Russell Galbut, Matis Cohen propose 20-story North Beach condo project
Developers submitted plans for 125-unit building to the Miami Beach Design Review Board
Lefferts and its partners are proposing another North Beach condominium.
Records show Miami Beach-based Lefferts, led by Mendy Chudaitov, along with partners Matis Cohen, Russell Galbut and other representatives of the Galbut family firm, GFO, want to build a second condo project in the Miami Beach neighborhood. Lefferts submitted plans to the Miami Beach Design Review Board for a 20-story, 125-unit building on the 0.1-acre site at 600 72nd Street, according to a press release from Lefferts.
The partners are tapping Douglas Elliman Development Marketing to head condo sales, the release shows. Miami-based architecture firm Arquitectonica is designing the building, to be called 72B. The developers anticipate breaking ground in 2024, and finishing construction in 2027, according to the release.
Jim Hedden, Lefferts’ COO, said the development has no particular target buyer.
“We all have ideas of who might live in our buildings. At the end of the day it’ll be those people who want to live here,” he said. Lefferts anticipates residents will be full-time, Hedden said.
Condos will likely range from one- to three-bedroom units, and the developer is considering amenities like pickleball and basketball courts, according to Hedden. Pricing for the units is undecided.
The partners bought the 0.1-acre development site for $2.3 million in 2018, records show.
The proposed building is the second North Beach project proposed by Chudaitov, Cohen, and Galbut. The partners announced the sales launch of a neighboring project, 72 Park, last month. That 22-story, 206-unit condo building is planned for 580 72nd Street. Cervera Real Estate is leading sales, with prices ranging from $700,000 to $2.4 million.
Lefferts’ website shows two more North Beach projects in the pipeline: a planned building at 880 71st Street, and another planned building at 666 71st Street currently called Town Center Gateway. The partners’ concentration on this long-overlooked Miami Beach neighborhood comes five years after a voter-approved upzoning went into effect to spur development.
A recent analysis by The Real Deal estimated that more than 600 condos and 100 apartments are in development in North Beach, not including Lefferts’ proposed 72B building, or its planned 880 71st Street project.