Buyer Of Mishorim Towers Development Site ‘Looking Forward To Bringing Project To Life’

A development site in downtown Miami where the Mishorim Towers is planned has been sold.

Privately-owned Sageblan Investments of Montreal purchased the property for $18.25 million.

“We believe in the future outlook of the Miami downtown core and look forward to bringing to life a project that will be beneficial to the community we are in,” said Gaurav Gupta, Managing Partner and President of Sageblan in a statement.

However, a broker involved in the sale told The Real Deal earlier this week that the buyers purchased the property “solely based on income,” and that building a project “is not in the plans yet,” although it may be considered eventually.

Israel-based Mishorim sold the property, which currently houses an 863-space parking garage.

In 2019, Mishorim submitted plans to replace the garage with a twin-tower project to Miami’s Urban Development Review Board. It was proposed to include:

  • 800 residential units
  • 120 hotel units
  • 7,110 square feet of commercial space
  • 264 parking spaces

The residential units were planned to be sold as condos, Mishorim had said in 2019, and the company had also been in negotiations on potential hotel flags.

The twin towers were proposed to rise 63 stories (701 feet) and 55 stories (597 feet).

Kobi Karp is the architect who designed the 2019 proposal.

 

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Anonymous
28 days ago

Flippity flip flip

BDub
28 days ago

Must be fraternal twins with that height difference.

Anonymous
28 days ago

Very ugly twins.

Emil Atik
24 days ago

I wouldn’t say very ugly per definition. So, where you at in term of genuinely knowing your building styles that exist in this world, historically and at present time, when speaking of ugliness in its true form??..lol..🙄🤨😌😅✌🌈💎

Anonymous
28 days ago

This faces Bayfront park so a question comes to mind: what’s happening with that empty gigantic crater “fountain” in the middle of it?

Anonymous
28 days ago

The should just say that an asteroid feel there and use it as a touristic attraction🤣

Anonymous
28 days ago

Instagram hoes already in-route

Anonymous
28 days ago

Sounds like another Mana

Anonymous
26 days ago

What do you think Mana 2.0 mean?

Anonymous
28 days ago

Mana 2.0

Melo is sigma and Chad
28 days ago

That parking garage is making money, this site is just going to be flip flip flip flip flip

Adrian
28 days ago

IF it gets built, that would be awesome. Decent amount of parking.

Anonymous
28 days ago

No surprise, flipping land here is basically the norm

Anonymous
28 days ago

Like just about every other project that eventually came to fruition.

Anonymous
28 days ago

To be fair, I’d rather this be a flip than the pictured proposal be developed. This block deserves so much better for its location and potential, and not Melo-tier shit boxes.

Anonymous
28 days ago

The towers look very New York!

Anonymous
28 days ago

LOL, what? No, they look very Melo. New York wouldn’t have a giant parking pedestal, ugly splotches of light blue and black, and the towers would have articulation and crowns or spires.

Anonymous
28 days ago

we have enough with the slum lord buying land and not building anything

Anonymous
28 days ago

the previous owners upgraded the site quite a bit while they had it, as a neighbor it was a very welcome change. you are making a misinformed comment…

Anonymous
28 days ago

the previous owner upgraded a garage?

Anonymous
28 days ago

painted it, fixed lighting, put in a little flower shop on the empty NW corner that was previously just full of rocks with a fence around it. So, yes, they upgraded it. your slum lord comment is misinformed.

Anonymous
28 days ago

The real deal said the garage was bought solely on income and they are not planning on building anything so it makes sense to say that we don’t need people to buy more lots and not build anything. We already have enough of that

Anonymous
27 days ago

Slum lords don’t operate parking garages. You don’t know what a slum lord is.

Anon
24 days ago

Oye