Editors Note: The Barbara Baer Capitman archives “Historic Threads” project is partly sponsored by the Department of State, Division of Historical Resources, and the State of Florida.
The Parc Vendome apartments, located at 736 13th Street, were designed in 1936 by Henry Hohauser, a noted architect, in the Mediterranean style.
In the 1980s, the building was one of many undergoing reinvestment and restoration. It was also among the first in the neighborhood to be converted from apartments to condominiums – ushering in an era of homeownership in the Flamingo Park area of South Beach.
A Miami Herald article found in the archives highlights the restoration of the Parc Vendome:
Amid the deteriorated buildings near Flamingo Park, the restored Parc Vendome stands out with a brightly colored and whimsically ornate facade. Two years ago, it was on the county’s list of unsafe structures because its south wall was collapsing
Its new owners were a part of the investment wave taking over Miami Beach at the time:
It was saved by New Yorker Saul Gross who, with partner Jeffrey Cohen, has invested $7 million in South Beach for eight apartment buildings and their restoration.
What made Gross and Cohen unique among real estate investors was that they did not simply purchase buildings to hold on to as land values increased. Instead, they took an active role in rehabbing and restoring the buildings, transforming them into much-needed housing for young professionals.
“.. if all of our units were ready to go, we could rent them out now and probably still have a waiting list. There is demand.”
The article states that Gross was a real estate lawyer who had turned developer, working for the Urban Group in 1984, a company based in New York that was involved in restoration projects nationwide. Gross felt that South Beach was unique:
“It held obvious appeal for a New Yorker. It is a neighborhood. The buildings have character. The people have character.”
Gross and Cohen, a contractor, joined to form Streamline Development Corp. Their offices were at 504 Ocean Drive at the time of the article.
The units had been upgraded with modern amenities, including burglar alarms and air conditioning. Prices for condos ranged from $35,000 to $75,800.
