Isaac Kodsi, a Miami developer, died in early August at the age of 59. Before his passing, he was nearing completion of Arbor Residences, a condominium project in Coconut Grove that he acquired out of foreclosure in 2023. Kodsi had been working closely with his adult children, Joseph and Camilla, through their family firm.
Dan Kodsi, Isaac’s brother and also a condo developer, stated he will work with Camilla to finish the 45-unit building located at 3034 Oak Avenue. The site is just north of downtown Coconut Grove. According to Dan Kodsi, more than 60 percent of the units are under contract and remaining units start at $1.7 million. Sandra Masis from Cervera Real Estate has been overseeing sales.
Dan Kodsi said he will ensure the project is completed but that Camilla will take on the main leadership role to continue her father’s legacy. “She’s got a great grip on what’s happening on the property,” he said. “For someone who doesn’t have that level of experience, she’s doing a great job.”
Isaac Kodsi lived nearby in Coconut Grove with his wife Teresita and their children.
Dan noted that while residential market activity has slowed recently, Arbor Residences’ pricing—slightly lower than other area buildings—gives it an advantage. The development is expected to receive its temporary certificate of occupancy by year-end.
The project has experienced several delays since it was first launched by previous developers Nick Hamann and Jeremy Waks in 2017. Originally planned for completion in 2019, construction lagged before being affected by the pandemic.
Camilla Kodsi commented in a statement that completing Arbor alongside her brother and uncle “is deeply personal for me.”
When Isaac Kodsi bought the property out of foreclosure, he returned buyers’ deposits and paid outstanding debts to contractors and subcontractors. He explained last year that if the lender had foreclosed on the site instead, buyers likely would not have recovered their deposits.
Elsewhere in South Florida real estate news: billionaire Russell Weiner purchased an eight-bedroom mansion at 43 Star Island Drive in Miami Beach for $35.3 million from Linda Frankel, widow of dermatologist Dr. David Frankel; Weiner intends to renovate and eventually list it for over $100 million. The Church of Jesus Christ of Latter-day Saints’ investment arm Property Reserve bought Del Ola—a 384-unit apartment building at 7801 North Federal Highway in Boca Raton—for $152.5 million from Clarion Partners.
A seven-bedroom estate at 2315 South Ocean Boulevard in Palm Beach was listed for $73 million after last selling for $44.9 million two years ago; Gary Pohrer (Serhant) and Nick Malinosky (Douglas Elliman) are handling the listing.
Weiner has also assembled several high-end waterfront properties around Miami Beach; he owns another home at 5300 North Bay Road.
Separately, Florida’s Board of Education voted to stop awarding certificates of completion to students with disabilities—a change that means these students cannot earn diplomas or receive any formal recognition upon graduation.
