The controversial owners of Centner Academy in Miami are assembling land in Wynwood Norte.
Entities tied to David and Leila Centner acquired the adjacent parcels at 3442 and 3490 Northwest Second Avenue for $4.7 million in January, records show. The lots total 0.2 acres and include a 7,660-square-foot building the Centners have been using as storage for the school.
They also own the 0.8-acre property at 3465 Northwest Second Avenue. State records show attorney Jamie Mandel, who represents the Centners on their real estate deals, now manages the company that owns the 12,000-square-foot school building. A deed transfer has not been recorded.
Real estate investor Babba Joshua Yesharim’s BHBH LLC sold the properties at 3442 and 3490 Northwest Second Avenue. Yesharim’s company paid just $275,000 for the lots in 2011, marking a 16-fold price increase in 12 years.
Yesharim said his parcels were on the market for $5.5 million, and that the Centners canceled their contract to buy the lots. After receiving offers from other buyers, he approached the Centners to see if they were still interested, and they negotiated the latest deal.
The Centners will likely use their properties to expand their Centner Academy school, which has locations at 4136 North Miami Avenue, near the Miami Design District, and at 1911 Northeast Miami Court.
Yesharim said the Centners are also building an apartment project down the street from the Wynwood Norte assemblage, just south of Roberto Clemente Park. Property records show a company managed by Coral Gables-based ABH Developer Group paid about $7.5 million for the land at 3311 and 3327 Northwest Second Avenue and 182 Northwest 34th Street. ABH Developer Group did not respond to a request for comment.
Source: The Real Deal