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Douglas Elliman takes over sales for Shoma Group’s 11 on Lenox

Douglas Elliman takes over sales for Shoma Group’s 11 on Lenox
One Sotheby’s was previously the brokerage firm for the townhome project
November 29, 2016 03:00PMBy Ina Cordle

Rendering of 11 on Lenox and Masoud Shojaee

Shoma Group’s luxury development, 11 on Lenox, is switching to Douglas Elliman as its exclusive brokerage firm, as it aims to target the New York market. One Sotheby’s International Realty had previously represented the 11-townhouse project planned near Lincoln Road in South Beach.
Shoma CEO Masoud Shojaee told The Real Deal that he wants to capitalize on Douglas Elliman’s ties to New York, and plans to file an application to register the project with the New York Attorney General’s Real Estate Finance Bureau next week.
“Douglas Elliman is very strong in Miami Beach, really high-end stuff, and One Sotheby’s, because I am a friend of Mayi de la Vega, was the only reason I had a [commitment] to start with her,” Shojaee said. “I knew they were not the right partners for me in my deal, with the concept I have and the type of clientele I am looking for in New York.”
De la Vega, founder and CEO of One Sotheby’s, called it a “mutual termination.”
“It was not a project that I really, honestly wanted to represent anymore,” she said, nor did she want her team to represent it, she added.
11 on Lenox, at 1030 15th Street in South Beach, will have 11 three-story townhouses, sized from 4,403 square feet to 4,669 square feet. Prices range from $2.9 million to $4 million.
So far, two units have been reserved, and a sales office will open onsite in three months Shojaee said.
Designed by Zyscovich Architects, with interiors by Charles Allem, 11 on Lenox‘s units will feature rooftop terraces, Poliform kitchens with Gaggenau appliances, and smart lighting systems. The project will also have a private parking garage and pool.
Shojaee said he is aiming at the New York market because of the development’s similarity to townhouses in SoHo, and the proximity to shops, restaurants and Lincoln Road.
“Douglas Elliman is very well organized, and they give you a great team to work with, and they understand the market and they have great clients,” Shojaee said. “They are very strong in New York, and are based in New York, and I have been really talking to them all along. It was the right timing for me.”

Source: The Real Deal

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