An affiliate of Bar Invest paid $3.3 million for the building in 2013, which means the company sold it for a 40 percent gain. The property was built in 1956, renovated in 2007 and includes a pool and parking. It can also be converted into short-term rentals or condos, according to Loopnet.
Bar Invest, led by Herve Barbera, paid $37 million for a larger apartment complex in Coconut Creek in July. The commercial real estate firm also owns multifamily properties in Little Havana and North Beach.
In November, Izhak, who was convicted of tax evasion in the early 2000’s, paid $24.8 million for a portion of Rockefeller Group’s and Kimco Realty’s mixed-use Miramar Town Center.