Commercial Real Estate Heavy Hitter: Eliot Abbott

Eliot Abbott enjoys reeling in big catches, whether he is participating in his favorite hobby - fishing - or negotiating a deal as chair of Kluger Peretz Kaplan & Berlin's business and real estate transaction practice and a member of the firm's management committee.

One of Abbott's most recent accomplishments in South Florida involved his work with developer and property owner Peter Swartz. Abbott helped turn what was a couple million dollars' worth of Miami riverfront land on the former East Coast Fisheries site into a proposed development worth nearly triple the original asset.

Swartz's family had held the property for years, with plans to redevelop, but were in danger of losing it in 2004 when their original financing fell through. Abbott helped Swartz locate an investor to pay off a $7.5 million mortgage owed on the fish market and eatery, which operated from 1926 to 2000. Swartz then got approval for a 32-story, mixed-use loft project, but there was no construction before the major use special permit ran out.

Capitalizing on the hot real estate market, Abbott worked with Swartz to assemble more land within the existing property to create a bigger footprint for the project, increasing its value and enabling Swartz to secure $15.5 million in financing for the redevelopment of the site. Since the latest transaction closed, Swartz has received several larger refinancing offers from investment capital firms for the Miami riverfront land.

SFBJ Heavy Hitters are nominated by the public and selected by the editorial staff. Inclusion is based on the applicant's prominence, achievements and community involvement. This is the third year of recognition for Heavy Hitters in Commercial Real Estate.