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Infinity Real Estate Buys Remaining Commercial Condos at 2063 Biscayne Boulevard

May 2nd, 2018

Infinity now controls all of the commercial units along Biscayne Blvd at Paramount Bay

Miami, FL –  May 2, 2018 – EINPresswire.com – Infinity Real Estate LLC announced today its purchase of two commercial condominium units at 2063 Biscayne Boulevard in Miami’s Edgewater neighborhood. Infinity acquired approximately 7,000 square feet at the property for $2.3 million. Mercantil Bank provided financing for the deal with a $1.5 million mortgage.

With the acquisition of units C301 and C501, Infinity now controls all of the commercial units along Biscayne Blvd at the Paramount Bay. In 2016, Infinity had purchased for $4.85 million the 6,800 sf ground floor retail condo unit C101, which is leased by Visionnaire, a home furnishings store. Barre Code, a fitness tenant, and Florida Community Health Network Corp are also tenants at the building. 1,200 square feet is available to lease and is being marketed by Comras Company.

David Berg, Partner at Infinity, noted “Our purchase here reflects our continued commitment to the property and the Edgewater community, as well as our optimistic outlook for the neighborhood and greater Miami, generally.”

With this acquisition, Infinity has now deployed more than $165 million into high-visibility real estate in Miami since 2013.

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 pledges 1% of its revenues to environmental preservation and social causes as a member of 1% FOR THE PLANET – the B-Corp’s only member real estate company. Infinity Real Estate was founded in 2005 by Steven J. Kassin and is headquartered in New York City.

 

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Kimberly Macleod
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