Entities related to Russell Galbut, Crescent Heights, and other affiliated entities have accumulated around ten acres of land on Alton Road in recent years.
The latest purchase came on December 29, when ARRP Miami IV, LLC closed on the Firestone Tire store for $10 million. The building was constructed in 1935, but isn’t designated historic, according to broker marketing material.
At 500 Alton Road, owned by a Crescent heights affiliate, the city recently issued a violation for a surface parking lot that was built without a permit.
In addition to the land, entities linked to Galbut have deals to redevelop two seperate Wells Fargo branches on Alton Road into a Whole Foods and a shopping center.