Infinity Collective, a New York-based firm, is seeking approval to build a multifamily mixed-use project on the former Epicure Alton Road site in Miami Beach, according to a March 20 report. The proposal comes after previous plans for an office project by developer Michael Shvo did not move forward.
The proposed development would include a 14-story building with 184 residential units, 85,000 square feet of retail space, and 35,100 square feet of offices. The Miami Beach Planning Board is scheduled to vote on the request on April 7, while final approval will rest with city commissioners at a later date.
The filing entity for the project is Alton Ventures Development, which is majority owned by Steven Kassin and Albert Kassin of Infinity Collective. Minority investors include Rock Soffer, Abigail Soffer, Estee Natkin, Nathalie Sutton, Raquel Mosseri, Jack Azout, Shlomo Khoudari and Sylvain Argy. The developer has committed that the site will not be used for short-term rentals or as a hotel for at least 30 years.
Infinity Collective’s affiliate acquired the property in September through a deed in lieu of foreclosure from Shvo’s firm for $28.3 million. Shvo had previously purchased the property in 2022 for $39.3 million and received approval last year for a smaller six-story project with about 17,000 square feet of offices and five apartments. At that time, South Florida’s office market was experiencing challenges due to higher interest rates and fewer new firms entering the area.
Shvo has recently sold several high-profile properties amid reported disputes with his investment partner Bayerische Versorgungskammer (BVK), Germany’s largest pension fund. These sales include the Raleigh Miami Beach hotels site and San Francisco’s Transamerica Pyramid office tower.
Elsewhere in Miami Beach, Infinity owns other properties such as the Esme hotel on Española Way and the Variety Hotel at 1700 Alton Road.
