In the Design District, Craig Robins, head of Dacra Development, which is redeveloping blocks and blocks of the neighborhood into a luxury outdoor pedestrian mall, is king. Joint venture partners RedSky Capital and JZ Capital Partners, however, have been snapping up buildings bigtime in the western half of the Design District, about a block away from Robins's developments, over the last year, ammassing an arsenal worth $233 million.
The two just bought eight more properties from Thor Properties for $128 million, reports the Real Deal, consisting of over half a city block from N. Miami Avenue to NE 1st Avenue. The buildings are at 3995 North Miami Avenue, 10 Northeast 40th Street, 28 Northeast 40th Street, 40 Northeast 40th Street, 50 Northeast 40th Street, 53 Northeast 39th Street, 3925 North Miami Avenue, and 15 Northeast 39th Street. Added to eight other properties purchased in the past year, RedSky and JZ now own a total of $233 million in real estate in the Design District.