EXCLUSIVE: New owner of Bertram Yacht property in Miami discusses plans

Published by Florida Foundation, Corp at August 17, 2015

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A rendering of Jorge Bernstein's initial plans for the Bertram Yacht property on the Miami River.

The buyer of the former Bertram Yacht facility on the Miami River has ambitious plan to capitalize on the property’s prime position while restoring its marine uses.

Jorge H. Bernstein’s Interterra Investments Group and Intermarine Investments paid $35.5 million for the 20.85-acre property at 3480, 3550, 3660 and 3663 N.W. 21st Street. It was formerly a yacht manufacturing and service center, but Bertram left in 2012 and it hasn’t been used for much since.

Bernstein is an architect and developer in Argentina who also has a home on Fisher Island. He specializes in retail centers and adaptive reuse, revitalizing buildings such as old train stations for new users. Bernstein said he likes the former Bertram site because of its proximity to Miami International Airport, the river and the Miami Intermodal Center, where multiple public transit systems converge.

“This location is supreme to any other locations and it causes inspirational thinking because of its location,” Bernstein said. “There are two considerations here: the magnificent, solid construction Bertram created in those buildings and the new zoning code Miami-Dade County created for Palmer Lake.”

The Palmer Lake neighborhood zoning code covering the site allows for more flexible uses on the 15.5-acre piece of the site that’s not directly on the river. That property has 311,100 square feet of industrial space in multiple buildings, but the zoning would allow for a variety of mixed uses there.

Bernstein described the property as a blank canvas for development. He said entertainment, offices, lodging, senior living and exhibition are examples of the uses he’d like to introduce there. He plans to lease out space at the property in the meantime to provide an interim stream of income as development takes place.

“Miami International Center is a generational mixed-use development opportunity at the gateways to the Americas located in what is one of the world’s fastest growing real estate markets and the most transit-rich location in the southeastern United States, serving Miami, South Florida, the U.S., Latin America, Europe, the Middle East, and the Far East,” Bernstein said.

Bernstein said he’s exploring how a roof could be constructed to bridge the multiple buildings together and create more usable space. The roof would have a geodesic design.

“I’ve dedicated my life to the development of retail centers and am especially involved in theme retail centers and unique buildings,” Bernstein said.

It’s almost impossible to find such a large site along the river in Miami, said Horacio Stuart Aguirre, chairman of the Miami River Commission. Since it’s so close to the airport, whatever is developed on the Bertram site couldn’t be very tall as per FAA regulations, he added. He’s pleased that there are no plans to demolish buildings on the property.

As for the riverfront portion of the property, Bernstein said he’s upgrade the technology of those facilities and bring back marine businesses there. He’d also like to introduce riverfront dining and retail with attractions such as cascading waterfalls.

“We will tie this into the rebirth of the Miami River and giving it a more festive ambiance,” Bernstein said.

He hired Jeff Michael as the on-site property manager.

A rendering of Jorge Bernstein’s initial plans for the Bertram Yacht property on the Miami River.

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Story by: Brian Bandell – Aug 17, 2015, 12:05pm EDT | Updated Aug 17, 2015, 1:18pm EDT
Photo Courtesy: Biz Journals

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