Coral Gables’ Miracle Mile is slowly becoming indistinguishable from Terranova thanks to the firm’s gradual takeover of the area. Stephen Bittel and his firm were able to capitalize on the closing of California Pizza Kitchen due to the pandemic and purchased the corner property that used to belong to the restaurant. It wasn’t a cheap purchase either, costing the Miami Beach-based real estate firm 6 million dollars. Half of the funds came from Apollo in the form of a loan. Having tried to acquire the building for well over a decade Stephen Bittel is happy with the sacrifices he’s had to make to gain ownership of the building. The sell came as a bit of a surprise to people on the outside looking in as the Mildred Weissel Trust owned the building for 70 years. With the addition of the corner property Terranova currently possesses a dozen properties within the Miracle Mile.
About Stephen Bittel
Stephen Bittel is the founder and chairman of Terranova Corporation, a very successful commercial real estate firm based in South Florida. The Miami native earned his law degree from the University of Miami School of Law. Prior to enrolling into the institution he attended Bowdoin College where he graduated Magna cum laude. He was still attending law school when he began working on forming Terranova Corporation. Starting from his home office he has grown the company into one of the top firms in South Florida. He never dreamed of becoming an entrepreneur until he realized he had a natural gift for working in the real estate industry.