Quik Park adds 2 Coral Way tracts to his Miami portfolio
York parking developer Hank Sopher continues his incursion into the
Brickell area with the purchase of two contiguous tracts on Coral
Sopher, president of Quik Park of Florida, entered the Brickell market
a little more than a year ago when he bought the 550 Brickell building.
he has paid $1.74 million for a 0.70-acre parcel at 40 SE 13th St.,
or Coral Way, and $1.2 million for a 0.30-acre site at Coral Way and
Southwest 14th Street, one block east of Publix supermarket.
seller of the first was Howglo Ltd. and of the second, Edward C. Ratiner.
Sopher, who operates 70 skyscrapers, hotels and surface parking lots
in Manhattan, has a number of local operations, including a $20 million,
800-car, city-owned garage for the Loews Miami Beach Hotel.
spent about $100 million on land acquisitions in Miami-Dade in recent
months, much of it along the Biscayne corridor.
New York, there are many districts for development," Mr. Sopher
said. "In Miami, there is just one the downtown Biscayne-Brickell
two Brickell parcels satisfy slightly different objectives than the
wide array of land parcels Quik Park has acquired in order to control
surface parking for the American Airlines Arena and the performing
arts center," said Ms. Edie Laquer, of Laquer Corporate Realty.
location is ideally suited for a high-end, limited service hotel or
a class A office tower," said Ms. Laquer, who represents Mr.
Sopher's South Florida real estate transactions.
plan," he said, "is to be involved in major development
deals that will help the arts and entertainment district along Biscayne
Boulevard and the business district around Brickell to continue to
the meantime, Mr. Sopher said, the lots will be used for surface parking.
is a small building at one site that will be razed. The properties
are zoned for commercial or residential development.