Shojaee purchased 237 lots on Northwest 6th Street and 132nd Avenue for nearly $9 million, and developed homes on the property. That is Stephanie Shojaee? PROFILEmiami takes no ownership of any imagery unless otherwise noted. Popular Instagram couple, Masoud and Stephanie Shojaee, have got people talking as the wife shared a short video of her and husband. Become a member to support the independent voice of South Florida In the adorable video, the husband who rocked white native wear called agbada made the announcement of the car gifts in the midst of guests who turned up for their wedding anniversary celebration. Shojaee even got into the aviation business in 2003, buying and selling planes and helicopters. He was on his own to continue his studies, earning a masters degree in electrical engineering and taking additional classes, aiming for a Ph.D. in the subject. LSA Property Holdings bought it for $2.81 million in 2012. The next deal was even larger. In fact, when Shojaee first started investing in Doral, it was not even an official city. Veritas $450M loan default: A sign of things to come? There is not much information on Masoud Shojaee and Stephanie Mejia's wedding. 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They will begin welcoming residents to their brand new apartments on August 1. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. and help keep the future of New Times, Use of this website constitutes acceptance of our. A son, Ogbonnaya, remembered the promise he made years ago when he was just a fresh graduate and wind blew off the roof of their house. Every major business person I have ever known has some degree of litigation associated with them, and it doesnt mean they havent been successful, Hall said. Masoud Shojaee (born 3 August 1959 Tehran, Iran) is an American philanthropist, entrepreneur, CEO and Chairman of the Board of Shoma Group which is a real estate development company based in Miami specializing in residential and commercial projects. Masoud and Stephanies close relationship is able to thrive both inside the workplace and out of the office thanks to their overlapping interests, deep-seated love for one another, and of course, a shared passion for development. Masoud Shojaee President, Shoma Group . During this time, Shojaee was actually famous for taking a helicopter to and from all of his properties, never using a car. The material on this site may not be reproduced, distributed, transmitted, cached, or otherwise used, except with the prior written permission of the copyright owner. I am a very hands-on person, and I like to overview and supervise every aspect of the business.. You are already subscribed to our newsletter! Andrew Burnett. Interestingly enough, Shoma Group is using this as an opportunity to get into the hospitality and entertainment industry, as they are launching their first 'Shoma Bazaar' location at Sanctuary Doral Apartments. Ralph, Ralph is the, ah, 2000-pound gorilla in Doral. The group regularly gets together socially for dinner, each taking turns hosting. The Shojaees were married in 1984 and founded Shoma Group in 1988. In turn, Mayor Hernandez thanked Shojaee for believing in Hialeah and for helping lay the foundation for Hialeah to become a place that would attract young people and businesses to put down roots. But as Shojaee expanded into residential development in Broward and Palm Beach counties, in addition to office development, he needed a way to keep an eye on his many projects. Beyond his real estate entrepreneurship and investment, the billionaire real estate mogul is a passionate philanthropist as the Shoma Group founder is involved in the University of Miami's School of Communication scholarship fund with an entire hall named after him (the Shoma Hall), World Vision, St. Jude Children's Research Hospital, and many other charitable endeavors. PAY ATTENTION: Click See First under the Following tab to see Briefly News on your News Feed! Shoma remains busy, working on six projects, planning four more and looking at single-family home construction in the Boca Raton area and Delray Beach. The company's current projects include. He started his company in the 1980s and worked up to make a real estate company known to everyone. Parker of Douglas Elliman, which is now handling sales at Eleven on Lenox, calls Shojaee a visionary.. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. He reentered the aviation business two years ago, buying and selling more planes. It lasts only 65 seconds, but it speaks volumes. Ralph Arza is a state representative whose District 102 includes parts of Miami-Dade and Broward counties, but not the City of Doral. That led to a second, 58-lot project, Kendall Best 3, also with Abreu. Masoud Shojaee (@mrmasoudshojaee) Instagram photos and videos Most recently, the firm partnered with the Related Group on CityPlace Doral, a mixed-use project. Years after making that promise, the young man built his mum a four-bedroom house and painted it beautifully. It is great cash flow and you have no risk, and you sell the building when its stabilized, or you decide to keep it, and two or three years from now, when the condo market is great, you do a condo conversion, Shojaee said. She is an executive in the real estate industry and is currently the president of Shoma Group. This impressive 13,000 sqft open concept food hall and entertainment venue will have food vendors open for breakfast, lunch, and dinner as well as entertainment fit for kids, flatscreens for sports fans, and live music & hookah for nightlife enthusiasts. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. We get a reputation in South Florida for being flashy. 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The developer teamed up with the projects exclusive sales broker Fortune Development Sales to host a ceremony to commemorate the occasion. Many people who took to her comment section wondered how she was able to maintain composure and not faint at the sight of such a gigantic gift. And that's a tremendous payday for him. eceiving the Mercedes Benz car in the post. Since getting his start in the industry, Shojaee has developed a unique visionary insight into how to identify as well as invest in up-and-coming parts of the city typically overlooked by other developers. Shojaees aptitude for building is in his blood. Masoud Shojaee: Okay, let's, uh, tell Ralph, uh, Felix come to the office, uh, on Friday morning. Get the latest updates in news, food, music and culture, and receive special offers direct to your inbox. Under Masoud and Stephanies watchful eyes, Shoma Group has meticulously constructed impactful projects like the sold-out $150 million Oasis Park Square and $102.5 million Sanctuary Doral Park, with another eight same-scale projects currently in the works. Netizens React as Man Dances with 2 Young Brides Who Look Very Sad in Viral Video. Shojaee bought Abreus share in the partnership for a few million dollars a number he doesnt recall exactly taking on more than 200 lots to build single-family homes. [1] [2] Masoud Shojaee was awarded with Future Sharks entrepreneur of the year award in 2018 . Stanley, did you discuss any fees with him? Working with the government, Shojaee used his investments in Doral and the subsequent investments his developments inspired to convince local officials to denote the area as its own official city. Amid strikes and brewing unrest, Shojaee left home in August 1978 to study electrical engineering at the University of Miami. Stanley Price: No, it's a uh, I'll tell you what, I'll pull the, uh, I'll pull the prior agreement he did with uh, with uh --, "Doral does not have their own filing system". Leveraging some early successes with the Tamiami Estates, a $300 million deal in the Grand Lakes, and a $400 million sale in Miramar, to take Shoma Group to the next level. Masoud Shojaee's Shoma sells Doral apartments for $103M He started his career with a focus on single-family homes because they offer more flexibility: If the market takes a turn, you can switch plans. Developed and managed by industry veteran Masoud Shojaee, CEO of Shoma Group who over the past 31 years has developed more than 10,000 homes and condominiums, and completed over $5 billion in real estate transactions Shoma Bazaar at Sanctuary Doral is the firms first food hall concept and represents the first of many future Shoma Bazaar food halls set to be incorporated into each of Shoma Groups upcoming rental communities. PAY ATTENTION: Help us change more lives, join TUKO.co.kes Patreon programme. Mr. Shojaee. 465K followers. Shojaee is also planning to build 180 apartments and 50,000 square feet of retail space at 1515 San Remo Avenue, across from the Shops at Sunset Place. Serving as a kickoff for upcoming regularly scheduled events that will take place year-round at Sanctuary Doral for residents and commercial tenants, hosts Shoma Group and Braman Miami rolled out the red carpet as event-goers enjoyed cocktails and delicious samplings from the participating restaurants getting a true taste of whats to come once Shoma Bazaar officially debuts this Fall. It may be hard to believe that the man who today oversees a vast empire of real estate development in South Florida, who relishes the riches of his success driving a Rolls-Royce Wraith and sporting the latest fashions from Bijan and Dior was once a frightened 18-year-old, completely alone in the U.S. as a freshman at the University of Miami, in exile from his home country, where a revolution was just beginning. In addition, in Coral Gables, Shoma has built custom homes and townhomes and recently renovated the companys new headquarters at 201 Sevilla Avenue, where Shojaee works with his two daughters, Anelise, 31, and Lilibet, 28. With international interest in all of their upcoming projects, we are excited to see what Shojaee and Shoma Group do next. Hall said that when it was Shojaees turn last fall, he flew eight people on his private plane on an excursion to Austin, Texas, for a lunch and dinner of brisket and ribs. One lucky winner was selected by Braman Miami to enjoy their complimentary weekend ride. From its first day as a city, June 24, 2003, until this past October 1, Doral relied on Miami-Dade County's existing master plan and zoning laws. We saw more of a trend that [buyers] are willing to pay more money and want a different product, so we changed to that, he said. During his earlier years, Shojaee said he was primarily focused on mid-market prices for single-family houses and townhomes, but he changed direction after the housing crisis of 2007, opting to build more luxury homes and townhomes priced at $1 million and up. Teresa Russel: The making of Masoud Shojaee's empire - Blogger The development is expected to cost $220 million to build. Since the onset of the COVID-19 Pandemic, these markets have seen a dramatic influx of new residents for several reasons. After its successful sell-out, Shojaee decided he was ready to strike out on his own. Cutting his teeth in Doral back in the 1990s and early 2000s, Shojaee quickly became known as the "King of Doral" since he was one of the first developers to identify the potential of and invest in region. On 18th December 2021 , Her husband Masoud Shojaee Gifted her a Private Jet. He went in the right direction.. Due to the city's exciting nightlife and entertainment options as well as its beautiful weather and beaches, the Miami and South Florida real estate markets have been on the rise for a few years now. I came up with better ideas and new ideas, to be more creative, to have a better design on the houses, to be a little bit innovative, to introduce new products.. Shojaee and Lamas. April 14, 2005 4:00AM Masoud Shojaee and his wife Maria, both 46 years old, incorporated Shoma Development Corporation in 1988. Their marriage was strong with the passing years. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Making an impact on the world of Miami real estate is no easy feat, especially as the South Floridian metropolis became one of the globes top living destinations throughout the Covid-19 pandemic a trend thats clearly still going strong, as Miami welcomed in more new residents during 2022s first quarter than it did during the same time period in 2021 when the pandemic was at its peak.