This high-profile property at Detroit and Lake avenues in Cleveland’s Detroit-Shoreway neighborhood just sold to a Rochester, NY developer with deep pockets and an interest in developing the vacant site. And it’s not the neighborhood’s only property in play. There are multiple developments in the works within a few blocks of here.
A vacant property at a high-profile intersection on Cleveland’s West Side recently sold to a Rochester, NY developer with deep pockets. Although a decision hasn’t apparently been made on what will be developed at the corner of Detroit and Lake avenues, multi-family housing is the preferred use. It’s the latest of several potential developments within a few blocks of this site that could offer a mix of housing choices, retailers and jobs in a walkable, transit-friendly setting near Edgewater Park.
According to Cuyahoga County property records, 7500 Detroit Avenue LLC, an affiliate of Rochester-based LLD Enterprises, acquired four parcels of land totaling about 1.25 acres for $1.75 million from Salt Lake City, Utah-based BK Ohio LC on Sept. 14, 2021. LLD Enterprises is run by Managing Partner David Dworkin. Dworkin referred all communications to his local representative, Jonah Yulish, a senior associate at Matthews Real Estate.
“We have no direction at this time on what we intend to do with the property,” Yulish said. “We’re on 11 months of covered rent by the former user so it gives us some time to consider our options. The ideal play would be multi-family housing but we don’t have a clear direction yet.”
The former use was a Burger King fast-food restaurant that closed in January. County records also show 7500 Detroit Avenue LLC acquired a 20-year lease agreement with the Carrols Corp. that ends next year. The lease was acknowledged before a notary public on Sept. 14 by principals of the two firms. The lease assignment also shows Dworkin’s firm agreed to buy the property last April.
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