Broker Edie Laquer buys South Beach foreclosure site

Edie Laquer and 251 Washington Avenue
Edie Laquer and 251 Washington Avenue

Prominent Miami broker Edie Laquer has purchased a South Beach site, bringing it out of foreclosure. Laquer has started marketing the 13,000-square-foot site to developers.

The site, which is located at 251 Washington Avenue in the South of Fifth area on the southern tip of Miami Beach, was slapped with a foreclosure lawsuit by Great Florida Bank in July 2013. The approximately $2.2 million suit was filed against owner, South of Fifth LLC, along with its managing members Laquer and parking lot investor Jacob Sopher, according to the South Florida Business Journal.

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Laquer claimed in court documents that she made her half of the mortgage payments, and that Sopher had stopped making payments. Laquer’s brokerage, Laquer Corporate Realty Group, won a $720,186 judgment against Sopher and Israeli developer Shaya Boymelgreen over a breach of contract that same month.

And recently, Laquer paid $3.95 million for the site, in order to fully repay the mortgage and preserve her reputation, according to Paul Battista, Laquer’s attorney with Genovese, Joblove & Battista. [SFBJ] Christopher Cameron