Miami Investor Buying Up Riverside

[TheCat]

Miami real estate broker and investor Jeff Morr continues to buy up little chunks of Riverside. In April he bought the office building at 2008 Riverside.
In the last couple of weeks he added the four-store building at 813 Lomax St. and the Fans and Stoves Antique Mall building at 1059 Park St., paying $475,000 and $1,250,000, respectively.

The Lomax Street strip has three tenants: Hair Peace, Sin City Smoke and Bakery Ribault, which hasn't opened yet. Bakery owner Alex Podlyas said the change in ownership slowed him down, but he's still expecting to open this summer.

A few years ago, he was baking and selling the bread he grew up with in the Ukraine. His new bakery will be more French, he said.

But back to Morr. He's looking for a fourth tenant and plans to upgrade the facade of the Lomax building.

On Park Street, the antique mall holds the lease, and Morr said he's going to hold the building with the potential to develop it into a restaurant, possibly with residential space on the second floor.

Morr, who was referred to as a "renegade broker and investor" in one South Florida article, was introduced to Jacksonville three years ago by Steve Williams, who has busy acquiring property on his own.

"I like Jacksonville, and I love Riverside," Morr said. "Miami's been on fire for a few years, and there's a lot of big New York money down here. I think there are better values elsewhere, like Jacksonville."

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