El-Ad doubles up in North Bay Village, pays $19M for second dev site
El-Ad Properties upped the ante on its North Bay Village bet, buying a second development site in the waterfront city for $19 million. An affiliate of Boca Raton-based El-Ad, led by Isaac Sharon Tshuva and Orly Daniell, acquired an 11,200-square-foot lot at 7922 East Drive and two contiguous lots totalling 22,400 square feet at 7923 and 7925 East Drive, records and real estate database Vizzda show. El-Ad also assumed a $4.5 million mortgage with a 2028 maturity date. El-Ad paid more than double the sale price from three years ago. The seller, an entity managed by Luis Navas in Fort […]This article originally appeared on The Real Deal. Click here to read the full story.
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