Ophir Sternberg: The Real Estate Mogul
Introduction to Ophir Sternberg
Ophir Sternberg is a prominent figure in the Miami real estate scene, known as the founding director, Chairman, President, and CEO of Lionheart Capital LLC. With over 30 years of experience in the industry, he has established himself as a savvy investor and developer. His expertise spans various sectors, including office, industrial, retail, hospitality, ultra-luxury residential condominiums, and land acquisitions. Sternberg has earned a reputation for identifying undervalued assets and achieving above-average returns, making him a key player among high net worth people in Miami.
Real Estate Ventures
Sternberg’s ventures in the real estate market are impressive. He led the acquisition and development of The Ritz-Carlton Residences in Miami Beach, achieving a staggering total sell-out value exceeding $550 million. This project showcases his ability to capitalize on luxury real estate opportunities. Additionally, he was instrumental in the $120 million sale of The Seagull Hotel, which became the highest-grossing hotel sale of 2020 in Miami Beach.
His success is not limited to Miami; Sternberg has been involved in real estate deals across the globe, including markets like New York, Macau, Nicaragua, and Brazil. Below is a summary of some of his significant real estate ventures:
| Project | Type | Value |
|---|---|---|
| The Ritz-Carlton Residences | Ultra-Luxury Residential | $550 million+ |
| The Seagull Hotel | Hospitality | $120 million |
Ophir Sternberg’s impact on the real estate landscape in Miami and beyond is undeniable. His strategic approach and keen eye for potential have made him a respected name in the industry, and he continues to influence the market with innovative projects and developments.
Lionheart Capital Ventures
Ophir Sternberg, the Founder & CEO of Lionheart Capital, has made a significant mark in the real estate industry, particularly in Miami. His ventures include noteworthy projects like The Ritz-Carlton Residences and the sale of The Seagull Hotel.
The Ritz-Carlton Residences
The Ritz-Carlton Residences in Miami Beach is one of Sternberg’s flagship developments. This luxury condominium project consists of 111 residences, each averaging about 3,000 square feet, along with 15 exclusive Villa Residences. Pricing for these upscale residences ranges from $2 million to $40 million, catering to high-net-worth individuals looking for premium living spaces in a prime location.
The total sell-out value of The Ritz-Carlton Residences exceeded $550 million, showcasing Sternberg’s ability to identify and develop high-value real estate assets. The project exemplifies luxury living and is a testament to Sternberg’s vision and expertise in the real estate market. For more on high-net-worth individuals in Miami, check out our section on high net worth people.
| Project Feature | Details |
|---|---|
| Total Residences | 111 |
| Average Size | 3,000 sq. ft. |
| Villa Residences | 15 |
| Price Range | $2M – $40M |
| Total Sell-Out Value | Over $550 million |
The Seagull Hotel Sale
In 2020, Sternberg’s Lionheart Capital achieved a significant milestone with the sale of The Seagull Hotel for $120 million. This sale marked the highest-grossing hotel sale in Miami Beach for that year, underscoring Sternberg’s skill in navigating the real estate market. The acquisition and subsequent sale of The Seagull Hotel reflect his strategic approach to identifying properties with untapped potential and generating exceptional returns.
With these ventures, Ophir Sternberg continues to shape the landscape of luxury real estate in Miami, reinforcing his reputation as a key player in the industry. His current projects, including the Ritz-Carlton Residences in Miami Beach and developments in Brazil, highlight his ongoing commitment to growth and innovation in the real estate sector.
Out of the Box Ventures
Ophir Sternberg is not just a real estate mogul; he’s also a visionary when it comes to transforming distressed properties into thriving assets. His company, Out of the Box Ventures, specializes in acquiring and repositioning these properties, showcasing his commitment to revitalizing the retail landscape.
Distressed Retail Properties
Founded in 2017, Out of the Box Ventures, LLC has made significant strides in the realm of distressed retail properties. Currently, it controls over 5 million square feet of retail space across the United States. Sternberg’s approach focuses on identifying underperforming assets and implementing strategic improvements to increase their value. This involves not only physical renovations but also rebranding and repositioning the properties to attract a new wave of tenants and customers.
| Year Established | Properties Controlled (sq ft) |
|---|---|
| 2017 | 5,000,000+ |
Ophir Sternberg’s efforts in this area reflect a broader trend in real estate where investors are seeking opportunities in distressed markets to create long-term value.
Business Combinations
Ophir Sternberg’s expertise extends beyond real estate into strategic business combinations. He played a pivotal role in the merger of OPES Acquisition Corp. with BurgerFi International LLC, resulting in the formation of BurgerFi International Inc. This merger exemplifies his knack for identifying synergistic opportunities that can enhance business operations and market presence.
Additionally, Sternberg led the acquisition of Anthony’s Coal Fired Pizza & Wings, further showcasing his involvement in expanding and diversifying the food and beverage sector. His ability to navigate complex business landscapes and forge strategic partnerships is a testament to his entrepreneurial spirit and business acumen.
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Philanthropy and Education
The Lionheart Classical Academy
Ophir Sternberg is not only known for his real estate ventures but also for his commitment to education and philanthropy. He founded The Lionheart Classical Academy, a chartered public school located in New Hampshire. This initiative highlights his dedication to providing quality education to young learners. The academy aims to foster a well-rounded educational environment that encourages critical thinking and creativity. Sternberg’s efforts through the Lionheart Academy reflect his entrepreneurial spirit and his desire to positively impact the community (Lionheart Capital).
Community Impact
Through various philanthropic initiatives, Ophir Sternberg strives to make a difference in the community. His focus on education through The Lionheart Classical Academy is just one aspect of his broader commitment to social responsibility. By investing in educational opportunities, he contributes to the development of future leaders and promotes a culture of learning.
Sternberg’s philanthropic efforts extend beyond the classroom. He actively seeks to support local organizations and initiatives that align with his vision of community enhancement. His work not only reflects his financial success but also his belief in giving back to the community. For more insights into high net worth individuals and their contributions, check out our section on high net worth people.
BurgerFi International Inc.
Growth Trajectory
Ophir Sternberg, the Executive Chairman of BurgerFi, has been vocal about the company’s promising path. In 2022, he noted that it was a transformative year for BurgerFi, setting the stage for significant growth. The company signed its first multi-unit development agreement for Anthony’s, showcasing its commitment to expansion. Sternberg expressed confidence that the growth trajectory for 2023 would be strong, particularly with the addition of new locations and partnerships.
| Year | New Restaurants Planned | Highlights |
|---|---|---|
| 2022 | 5 (actual) | Multi-unit development agreement signed for Anthony’s |
| 2023 | 15-20 (anticipated) | Focus on growing restaurant-level margins |
Business Update for 2023
Looking ahead to 2023, the preliminary outlook for BurgerFi International Inc. is optimistic. The company anticipates opening 15 to 20 new franchised restaurants, reflecting its aggressive growth strategy. The focus will be on enhancing restaurant-level margins for both BurgerFi and Anthony’s brands, ensuring profitability as they expand. Sternberg believes there is a “long runway of growth” ahead, particularly with their asset-light expansion strategy (BurgerFi).
This proactive approach positions BurgerFi favorably within the competitive landscape of the fast-casual dining sector. As more franchise locations open, the brand aims to solidify its footprint, catering to the growing demand for quality dining experiences. For those interested in high net worth individuals and their ventures in Miami, Ophir Sternberg and BurgerFi stand out as prime examples of innovation and growth in the restaurant industry. For more insights into other high net worth individuals, check out our articles on high net worth people like James Tate and Michael Shvo.
Lionheart Holdings and Beyond
Ophir Sternberg is not just known for his real estate ventures; he is also significantly involved in multiple corporations under the Lionheart umbrella. Among these, Lionheart Acquisition Corp II and MSP Recovery Inc stand out.
Lionheart Acquisition Corp II
As the President and CEO of Lionheart Acquisition Corp II, Ophir Sternberg plays a crucial role in the company’s operations. He owns approximately 445,000 shares of Lionheart Acquisition Corp II, valued at over $5 million as of August 27, 2024. This investment highlights his confidence in the company’s potential for growth and success.
| Stock | Shares Owned | Estimated Value |
|---|---|---|
| Lionheart Acquisition Corp II | 445,000 | $5 million |
His strategic decisions and leadership are essential in navigating the complexities of the acquisition landscape, ensuring that Lionheart remains a competitive entity in the market.
MSP Recovery Inc
Ophir Sternberg is also the Director and 10% Owner of MSP Recovery Inc, where he holds about 210,738 shares, valued at approximately $55,761 (GuruFocus). MSP Recovery focuses on recovering funds for healthcare providers and offers a unique business model in the healthcare recovery space.
| Stock | Shares Owned | Estimated Value |
|---|---|---|
| MSP Recovery Inc | 210,738 | $55,761 |
His involvement in both Lionheart Acquisition Corp II and MSP Recovery Inc showcases his diverse investment portfolio and commitment to expanding his business ventures beyond real estate. For those interested in high net worth individuals in the Miami area, Ophir Sternberg’s ventures are a significant point of interest. For more insights into other influential figures in Miami, check out articles on high net worth people like James Tate and Michael Shvo.
Miami Residences and Global Projects
The Ritz-Carlton Residences in Miami Beach
Ophir Sternberg’s notable project, the Ritz-Carlton Residences in Miami Beach, showcases luxury living at its finest. Developed by Lionheart Capital in partnership with Elliott Management, this project features 111 condominium residences, each averaging about 3,000 square feet, along with 15 stand-alone Villa Residences. Prices for these exclusive properties range from $2 million to $40 million, making them a prime choice for high net worth individuals looking for upscale accommodations in the area.
| Type of Residence | Number of Units | Average Size (sq ft) | Price Range |
|---|---|---|---|
| Condominium Residences | 111 | 3,000 | $2M – $40M |
| Stand-alone Villa Residences | 15 | Varies | $2M – $40M |
Global Project Portfolio
Beyond the luxurious Ritz-Carlton project, Ophir Sternberg’s Lionheart Capital is involved in several significant global ventures. The firm is currently engaged in the development of a Six Senses Resort in Nicaragua, which promises to offer a unique luxury experience in a stunning natural setting. Additionally, Lionheart Capital is working on a boutique equestrian resort in partnership with Rancho Chilamate, and has projects in Brazil, particularly in Rio de Janeiro and São Paulo (Miami Herald).
Ophir Sternberg’s commitment to high-end real estate development extends across borders, highlighting his influence in both local and international markets. For more insights into other influential figures in Miami’s real estate scene, check out our articles on high net worth people like Jorge Pérez and David Edelstein.
Personal Life and Net Worth
Family and Residence
Ophir Sternberg resides in Miami, Florida, with his wife and two children. His family life plays an essential role in his overall well-being, complementing his busy career in real estate and business ventures. Miami’s vibrant culture and beautiful weather offer a perfect backdrop for his family’s lifestyle.
Net Worth and Investments
Ophir Sternberg’s estimated net worth is at least $5 million as of August 27, 2024. He is the President and CEO, and a 10% owner of Lionheart Acquisition Corp II, holding approximately 445,000 shares of Lionheart Acquisition Corp II (LCAP) stock valued over $5 million. Additionally, he serves as the Executive Chairman and 10% owner of BurgerFi International Inc, owning about 1,655,956 shares worth over $345,929.
His investment portfolio includes a total of three stocks, which are Lionheart Acquisition Corp II (LCAP), BurgerFi International Inc (BFI), and MSP Recovery Inc (LIFW). As of July 4, 2021, he owned 445,000 shares of LCAP, and as of February 24, 2023, he held 1,655,956 shares of BFI. He also acquired 210,738 shares of LIFW as of June 7, 2022 (GuruFocus).
In recent years, Sternberg made significant investments in BurgerFi International Inc, making three transactions over the past five years, including acquiring 1,158,000 shares on February 24, 2023, at a cost of around $579,000. This portfolio reflects his strategic approach to investing, contributing to his status among high net worth people in Miami.
