Terranova Purchases Corner Property in Coral Gables’ Miracle Mile
Terranova grew its property portfolio to Miracle Mile based in Coral Gables. Terranova is a real estate company found in Miami Beach, and Stephen Bittel is its CEO. The company, therefore, cashed out about 6 million US Dollars to acquire the Miracle Mile corner property, previously owned by a pizza kitchen.
Miracle Mile is the 12th real estate, the company possesses on that street and block. However, the novel coronavirus pandemic spearheaded the closure of the restaurant. Therefore, Terranova bought it for approximately 3 million Dollars from Apollo, and Ari Bittel, the managing director of Terranova took charge of the deal that was closed on June 29th.
Stephen Bittel confirmed to have chased The Mildred Weissel Trust for about 15 years. The 5,950 ft2 structure was offset after ownership for about seven decades. Stephen Bittel said that they waited for Judy Weisel to decide on selling the building to become the first potential buyers.
Terranova is contacting a national organization that invests heavily in that space, but Stephen Bittel was not specific about the name. This building was established in 1949, and it occupies a space approximated to be 6,000 ft2.
On this block, Stephen Bitte has other properties numbered 260, 308, and 348. The 308 project sits next to the newly bought property and hired out to the Public Library in Miami-Dade. Miracle Mile has also seen new restaurants coming up, including; Dickey’s Barbeque Pit, and John Martin’s.
Stephen Bittel’s Biography
Stephen Bittle is the established and executive director of Terranova Corporation. The company has the best real estate portfolio since its inception in 1980 in South Florida. This company has grown over time because of changing factors, and Stephen is greatly affiliated with the region because he serves the community accordingly. Being the Miami native, Stephen Bittel has taken over several board positions in Miami and beyond.