Miami Condo Market and Lifestyle Updates
Russian Billionaire Buys Edgewater Property

Russian Billionaire Buys Edgewater Property

by Sep Niakan | March 13, 2014

 

Oleg Baybakov, Russian mining director and developer, has purchased Edgewater property recently.

A company called 700 Edgewater Development bought the property for $21.5 million. It includes a 37,462 square-foot property with a 58-unit apartment building right in the middle of Miami. State corporate records recognize Baybakov as the president and director of 700 Edgewater. The purchase was finalized February 18, and recorded February 21.

The previous owner, HypCor700, purchased the property for $9.9 million back in August 2012. The company proposed a 39-story condo tower at the site. The estate is located at 700 Northeast 26th Terrace.

Edgewater is sectioned from Northeast 17th Street to 37th Street. 10 condo towers have been proposed for the Edgewater area, including Related Group’s Paraiso Bay, Eastview Development’s Biscayne Beach, and Melo Group’s Bay House. We are curious what will happen next in the upbeat Edgewater community.

 

Source: therealdeal.com

Photo credit: Oleg Baybakov bfanyc.comAerial view - luxelifemiamiblog.com700 NE 26th Ter dailybusinessreview.com

Recent posts

Real Estate News

Luxury Miami Condo Report : March 2017

by Sep Niakan | April 20, 2017

Miami Luxury Condo Report Overall Market Summary City and Neighborhood Luxury Condo Reports              Miami Beach Luxury Condo Report                  ...

Lifestyle

Miami May Events Round-up

by Sep Niakan | April 18, 2017

The temperatures are picking up and it’s time to lather on the sun tan and cool off with some awesome events around town. Here’s our pick of the hippest festivals in Miami to make for a magnificent May: SunFest Music and Arts Festival...

Lifestyle

A Guide to Miami's Best Beaches

by Sep Niakan | April 17, 2017

Think Miami Beach and most people conjure up images of Spring Break, bikini-clad college students and a wild party worthy of '90s-era MTV. However, truth is that Miami’s beaches have a lot more to offer than those hyped up versions of...

Real Estate News

Miami’s New and Pre-Construction Condo Update: March 2017

by Sep Niakan | April 14, 2017

March has been a pretty busy month for Miami’s condo pre-construction market. From two sales gallery launches to four buildings topping-off, there’s been plenty of activity to keep the market abuzz. The biggest news, however, came in the...