Business Leader Real Estate

Stephen Bittel And Terranova Acquires The Corner Property On Miracle Mile Based In Coral Gables

An article with e-Architect entitled “Stephen Bittel’s Terranova – Coral Gables’ Miracle Mile”, talks about how Stephen Bittel proposed and developed a forward-thinking mixed-use structure at 220 Miracle Mile. Dubbed the Mile Hotel and Shops, this 120-key development would feature seven stories of mixed-use space.

Terranova has widened its reach to Miracle Mile. Stephen Bittel leads this real estate company based in Miami Beach who cash out approximately 6 million dollars for the 300 Miracle Mile. This property harbored California Pizza, and it was the 12th of the portfolio associated with Terranova that was finalized over the pandemic period. Terranova funded the acquaintance of a 3-million-dollar loan awarded by Apollo.

Ari Bittel, managing director of Terranova oversaw the deal that ended on June 29. A 5959ft2 building was disposed of by Mildred Weissel Trust after owning for over 70 years. Stephen Bittel claimed to have searched for the building for almost 15 years.

Judy Weisel, the trustee was expected to reach out to Terranova when selling the property. Terranova targets a nationwide concept to be making a massive investment, but Stephen declined to offer a name. The building established in 1949 stands on a 6,000ft2.

Bittel has other properties on this block including; 360, 308, 348. The 308 is next to the newly acquired property that is now leased to Miami Public Library. Miracle Mile has several business developments popping up including; Sushi Sake, Dickey’s BBQ Pit, and John Martin’s.

Agave Holdings is among the largest projects under construction in Coral Gables, which is several blocks near Miracle Mile. At the beginning of the year, Terranova and Terra released about a 24-acre site based in Doral to GLP Capital Partners, a logistic property investment agency for approximately 55 million dollars. Click here to learn more.

Stephen Bittel’s Bio

Stephen Bittel founded Terranova Corporation in 1980 and is the chairperson to date. Terranova is the best in real estate because it has an outrageous portfolio. Bittel is a South Florida native, thus greatly connected to the region and serving the community wholly. He chairs several board positions in Miami.

 

Additional information about Bittel on https://in.wallmine.com/people/92639/stephen-bittel