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2305 NE 123rd Street in Miami, FL

JV to Develop $85M Residential Community on North Miami Waterfront

Billionaire real estate mogul Teddy Sagi, Related Group and BH Group are planning a $85-million redevelopment of a waterfront site in North Miami as a luxury residential community.

The partnership is teaming up to acquire the site of the former White House Inn on 123rd Street, which sits at the eastern entrance to North Miami.

The developers look to deliver a luxurious and highly exclusive community that will set a new residential standard for the neighborhood.

“This is one of those rare bayfront sites that’s gone underutilized for far too long,” said Jon Paul Pérez, president of Related Group. “Through this partnership, we will revitalize the parcel and give North Miami the entrance it deserves.”

The group recently closed on an investment within the planned Transit Village project in downtown West Palm Beach, FL, and continues to search for opportunities together throughout South Florida.

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Inside The Story

Related Group's Perez

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.

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