Remy Jacobson lists Design District dev site
A property in the Miami Design District that was tied up in litigation is now on the market for $14.5 million.
Remy Jacobson of J Cube Development wants to sell the site, a three-story, nearly 16,000-square-foot building at 4141 North Miami Avenue, according to marketing materials from Aztec Group.
In February, Jacobson secured approvals from the Miami Historic and Environmental Preservation Board to renovate the mid-century modern office building into a retail building with event space on the rooftop and a covered colonnaded sidewalk.
Records show 4141 Design LLC bought the property for $10.5 million in April 2016. Months after purchasing it, Jacobson’s company filed suit against the sellers, alleging they knew it would soon be designated historic and therefore more difficult to develop. The lawsuit has been settled.
The building sits on a 9,700-square-foot lot with 100 feet of frontage on North Miami Avenue. It’s around the corner from the De La Cruz Collection and the new Institute of Contemporary Art Museum, which opened on Friday.
Approved plans call for a rooftop terrace, two more entrances, new windows, balconies and a garden patio to the 4141 building, which was built in 1961 as the International Design Center. At the time, it housed more than 150 display areas for manufacturers in Miami, the Caribbean and Latin America. In February, the historic preservation board also granted 4141 Design’s request for a waiver to allow more than 4,000 square feet to be used for commercial tenants.
Aztec’s Charles Penan, Howard Taft and Joel Zusman are listing the building. Penan said the building’s interiors have been gutted.
In November, artist Enrique Mora listed his 2,500-square-foot property in the heart of the Design District, at 64-66 Northeast 40th Street, for $8.6 million with broker Stacy Robins.
Robins’ brother, Craig Robins, is spearheading the district’s transformation into a high-end shopping, dining and cultural hub.
Source: The Real Deal