Beber Silverstein buys home at edge of art district
and communications agency Beber Silverstein & Partners paid $1.3 million
for a 52,000-square-foot site at 1721 NE Miami Ct. on the edge of
the Art & Design District, brokers say.
felt that they were better served by disposing of their existing facilities
and relocating to a growth area," said Edie Laquer of Laquer
Corporate Realty, who represented the agency in the transaction with
Peter Andolina of Andolina Real Estate Corp.
property lies within an area designated by Miami's Downtown Development
Authority as a media and entertainment district, says Patricia Allen,
the authority's executive director.
is one of Miami's best advertising companies," she said. "Their
presence will give a real credibility to the area."
53,254 square feet, Mr. Andolina said the two-story building on the
new site is more than twice the size of Beber Silverstein's current
office at 3361 SW Third Ave.
building, sold by The Brothers of the Good Shepherd, has long been
vacant, he said, and is in disrepair.
said the agency also bought an 11,000-square-foot parcel across the
street for $900,000 to be used for parking.
already have their architects and engineers working on the rehab,"
Mr. Andolina said, "and they are excited about the potential."
Laquer said the property is in both enterprise and empowerment zones.
hope it will stimulate more interest in that area of town," she
Jim Wagner said Beber Silverstein has applied for $4.6 million in
tax-exempt bond financing through the Dade County Industrial Development
Finnie, president of the Miami-Dade Empowerment Zone Trust, said he
hasn't yet met with principals from Beber Silverstein but "we
look forward to structuring it and getting it approved by the board
sometime this summer. "Based on our initial review I'm very comfortable
Gil, financial and public relations consultant for the trust, said
the major incentive for locating within the zone would be the low-interest
financing that it facilitates.
available to such companies include a deduction for cleanup costs
incurred during environmental remediation, $37,000 off equipment expenses,
federal tax credits and welfare-to-work credits.
the area is also an enterprise zone, other benefits are available,
Ms. Gil said.
to 100% of property taxes can be abated for a company moving into
it and creating five or more jobs for a period of up to five years,"
its application for industrial development bond financing, Beber Silverstein
reported plans to add 10 jobs within the year following completion
of construction. The 28-year-old company now employs 72, its application
benefits include a waiver of impact fees, a jobs tax credit of 15%
for each new employee who resides in the zone, sales tax refunds and
credits for corporate donations to community development, Ms. Gil
first contacted, principals from Beber Silverstein said they would
talk about the project later in the day, but they were not subsequently