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| Linda Worton Jackson |
Miami, FL– Salazar Jackson LLP closed the sale of a real
estate development site in the Arts and Theater District of Miami to NR
MaxMiami LLC for $7.3 million on December 6.
NR MaxMiami, led by Nir
Shoshani, won the bid at a live bankruptcy auction on October 8 at Salazar
Jackson’s Miami law office.
Firm Co-Founder Linda Worton Jackson conducted the
auction, as counsel to Maria Yip, the trustee of Prema LLC, the original owner
of the property.
“This deal will be a
game-changer for the Arts and Theatre District of Miami,” said Jackson. “It will change the landscape of the
area.”
The property,
located at 1631 NE Miami Place, situated just west of the Omni
near Midtown, consists of a little more than an acre of land. Shoshani intends to develop a mixed-use
residential and retail project on the site.
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| Nir Shoshani |
The original developers envisioned a mixed-use project
called Miami Max, which never got off the ground.
Shoshani, a veteran
real estate investor and developer, is partnering with Paul Murphy of
Charleville Development Corporation.
Murphy will serve as the project’s general contractor.
Lenders were trying
to foreclose on the property, but Prema filed for Chapter 7 bankruptcy in July
to prevent a fire sale. U.S. Bankruptcy Judge A. Jay Cristol approved
the sale on October 9, 2013.
Salazar Jackson LLP (http://www.salazarjackson.com)
is a Miami-based firm that serves individuals and businesses facing financial
crisis, complex commercial litigation or government investigations as well as
those seeking to seize financial or business opportunities through startups,
mergers, acquisitions and divestitures.
They represent clients in matters
throughout the country.
For a complete copy of the company’s news release, please
contact:
Boardroom Communications
Michelle Friedman
Phone: 904-641-3226
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