Lefferts JV Secures Design Review Approval for Condominium Project in Miami BeachNovember 24, 2023
A coalition of developers has successfully secured approval from the Miami Beach Design Review Board for their joint venture project – a striking 20-story condominium tower comprising 125 units. The unanimous 5-0 vote on November 13th marked a significant milestone for Project 72B, a proposed 239,400-square-foot building, inclusive of a parking pedestal, situated on a 1.6-acre development site at 600-650 72nd Street, 7116-7134 Carlyle Ave, 7121 Dickens Avenue, and 601-621 71st Street.
The ownership entities behind this ambitious venture include affiliates of Lefferts from New York, GFO Investments MMG Equity from Miami, and Cohen. Pasquale DeBenedictis and Alex Solovey, principals of New York-based nursing home provider Cassena Care, are also critical investors in the project.
After acquiring the assemblage over two decades through a series of transactions totaling $14.3 million, the developers are set to bring their vision to life. Designed by Miami-based Arquitectonica, the 72B tower will boast 45,000 square feet of indoor and outdoor amenities, encompassing a pool, pickleball court, half-court basketball, spa, lounge, and fitness center. Penthouse units will feature private pools.
While the units are anticipated to average around 1,200 square feet, pricing details are yet to be determined by the partnership, as indicated in a press release. Douglas Elliman has been designated as the exclusive sales agent for the property.