Isaac Kodsi, a developer known for his work in Coconut Grove, died in early August at the age of 59. He was close to finishing Arbor Residences, a 45-unit condominium building at 3034 Oak Avenue that he acquired out of foreclosure in 2023. Kodsi had been working on the project with his adult children, Joseph and Camilla.
Dan Kodsi, Isaac’s brother and also a condo developer, said he will work with Camilla to complete Arbor Residences. The project has secured contracts for more than 60 percent of its units, with remaining homes starting at $1.7 million. Sandra Masis from Cervera Real Estate is handling sales.
Dan said he is committed to seeing the project through but emphasized that Camilla will take the lead moving forward. “She’s got a great grip on what’s happening on the property,” Dan said. “For someone who doesn’t have that level of experience, she’s doing a great job.”
Isaac lived in Coconut Grove with his wife Teresita and their children.
According to Dan Kodsi, Arbor Residences is priced slightly below other area buildings, which could help it compete in what he described as a slow residential market. The building is expected to receive its temporary certificate of occupancy by year-end.
The previous development team led by Nick Hamann and Jeremy Waks began sales at Arbor in 2017 with plans to deliver by 2019; delays followed before Isaac Kodsi acquired the site out of foreclosure.
Camilla Kodsi stated: completing the project alongside her brother and uncle “is deeply personal for me.”
When Isaac bought the property out of foreclosure, he returned buyers’ deposits and paid contractors who were owed money. He told The Real Deal in 2023 that if the lender had foreclosed on the site instead, buyers likely would not have received their deposits back.
In other real estate news from South Florida: Billionaire Russell Weiner purchased an eight-bedroom waterfront mansion at 43 Star Island Drive in Miami Beach for $35.3 million from Linda Frankel; Weiner intends to renovate and eventually list it for over $100 million. In Boca Raton, Property Reserve—the real estate investment arm of The Church of Jesus Christ of Latter-day Saints—bought Del Ola apartments for $152.5 million from Clarion Partners.
A Palm Beach estate at 2315 South Ocean Boulevard has come onto the market for $73 million after last selling for $44.9 million in 2022; it features seven bedrooms across over 14,000 square feet as well as amenities such as two pools and guest quarters.
Weiner has also been identified as the owner behind another luxury home at 5300 North Bay Road in Miami Beach and continues assembling high-value properties locally.
Separately, Florida’s Board of Education recently voted to stop awarding certificates of completion to students with disabilities upon graduation—meaning these students cannot earn diplomas or receive formal recognition when they finish school (https://centralfloridapublicmedia.org/florida-ends-certificates-of-completion-for-students-with-disabilities/).
Research contributed by Mary Diduch.
