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Infinity Real Estate Wins Historic Preservation Award for Revitalization of 728 Ocean Drive in Miami Beach

Apr 24th, 2018

Local Real Estate Leaders Recognized by Miami Beach Chamber of Commerce at 6th Annual Better Beach Awards

New York, NY and Miami Beach, FL – April 20, 2018 – Infinity Real Estate (“Infinity”) today was recognized for its transformative, historic redevelopment of 728 Ocean Drive property as the recipient of the Historic Preservation Platinum Award at the 6th Annual Better Beach Real Estate Awards. The annual event, which was presented and organized by the Miami Beach Chamber of Commerce (“the Chamber”) and was sponsored by City National Bank and BCI Financial, honored influential leaders and projects that have had a profound impact on Miami’s local real estate over the past year. Award categories included historic preservation, innovative architecture, design, restoration, and environmental initiatives, among others.

The Historic Preservation Award recognizes a real estate company that revives a historical Miami Beach building site to current, adaptive re-use, while ensuring the building still maintains its cultural and historic identity. The building must meet approval from the Historic Preservation Board and obtain a Certificate of Operation for its new adaptive use.

Infinity Real Estate’s Manager Partner, Steve Kassin commented, “We are extremely humbled and gratified by this honor, and sincerely thank the Chamber for selecting our project as the winner of this prestigious award. We are hopeful that our work to restore this iconic property reflects Infinity’s commitment to historic preservation and best-in-class adaptive redevelopment.”

Infinity acquired 728 Ocean Drive in 2015 and quickly partnered with Zyscovich Architects to recreate and preserve the historic design of this noteworthy building, originally designed by Donald Reiff in 1953. With the gracious and unanimous support of the Historic Preservation Board, Infinity was able to pursue its vision and ultimately infuse over $5 million into this landmark property, bringing back many of its original “MiMo” design elements, including the clear circular Plexiglas domes, the stacked stone façade and the open-air stair that was featured as the set of the notorious chainsaw scene in the blockbuster film Scarface. The property was also thoroughly renovated for the first time in decades, activating its abandoned commercial space and bringing infrastructure, life safety systems and ADA accessibility up to code. The revitalized property is widely regarded as a case study of architecturally responsible and economically viable historic development.

David Berg, Partner at Infinity, added, “Our deepest appreciation goes out to the Chamber and to our partners, collaborators and friends on Ocean Drive and in the Miami Beach community who helped us achieve this recognition. We look forward to further contributing to Miami’s cultural reputation as a number one international gateway destination and place to live, work and play.”

This project marks Infinity Real Estate’s 27th historic redevelopment project across five cities, and its 4th in the Miami area.

 

About Infinity Real Estate, LLC
Infinity Real Estate is a privately-owned developer, owner, and manager of high quality real estate in primary U.S. markets. The Company’s portfolio includes over 60 individual properties representing approximately 2.5 million square feet of retail, office and hospitality space and over 1,200 urban luxury rental apartments. Through its affiliates and portfolio companies, Infinity has managed in excess of 115 properties representing over 20 million square feet. The Company’s principals have led or have directly transacted in over $5 billion of real estate related investments spanning the acquisition or development of individual properties and portfolios, as well as several private corporate deals. The Company has established a strict investment discipline centered on active management of all its projects. Infinity’s “Green Landmark Initiative” is aimed at modernizing the infrastructure and transforming spatial programming of historic properties so that they operate with the highest efficiency and smallest environmental footprint possible, while rehabilitating and preserving precious architectural elements of the historic structures. Infinity Real Estate was founded in 2005 by Steven J. Kassin and is headquartered in New York City.
 

About Miami Beach Chamber of Commerce
The Miami Beach Chamber of Commerce was formed in 1921 to promote the economic well-being of Miami Beach’s citizens, to improve the quality of life for the entire community, and to communicate the view of the business community on major issues of public policy.
 

Media Contact
Kimberly Macleod
kim@kmacconnect.com
917-587-0069