Miami Condo Market and Lifestyle Updates
Russian Mogul Buys Property in Edgewater for the Fourth Time in Three Months. Where Will He Strike Next?

Russian Mogul Buys Property in Edgewater for the Fourth Time in Three Months. Where Will He Strike Next?

by Sep Niakan | June 05, 2014

The Edgewater King, Oleg Baybakov, cannot stop buying up properties in Edgewater. He has purchased four properties in the same area in less than three months. What will he do next?

700 Edgewater Development, Baybakov's company, purchased a small vacant plot and a nine-unit apartment building, located at 432 Northeast 26th Terrace and 441 Northeast 26th Street, for $1.4 million. The transaction took place on May 15, and was recorded by the county on May 20.

Supreme Property Holdings, a Bay Harbor Islands company, sold the site to 700 Edgewater Development.Supreme purchased the two properties for $576,000 back in 2003.

These latest acquisitions into Baybakov's portfolio are on the same block as the $7.4 million triple transactions he made in April. Thus far, between February 21 and March 28, Baybakov's company has spent over $30 million for 1.7 acres in Edgewater.



Photo credit: Oleg Baybakov - bfanyc.comView - 700 NE 26th Ter (building) - dailybusinessreview.comMap - Google

Recent posts


10 December Holiday Events You Won’t Want to Miss

by Sep Niakan | December 06, 2016

It’s my favorite time of year to be in Miami! The weather has cooled off a bit. The city’s abuzz with people from every corner of the world (thanks to Art Basel). The holiday spirit is gradually taking over, and there’s a bunch of...


Car-free in Miami: How to Give Up Your Car for Lyft and Uber . . . and Love it.

by Sep Niakan | November 29, 2016

This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...

Real Estate News

How Miami Condo Sales Will Benefit from New FHA Lending Rules

by Sep Niakan | November 24, 2016

Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...

Real Estate News

Reflecting on BrickellHouse Robotic Parking Garage Failure

by Sep Niakan | November 22, 2016

It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...