Major Food Group’s Jeffrey Zalaznick and Mike Piazza with the Miami Beach mansion (Getty, The Jills – Photography by Luxhunters)UPDATED, May 3, 11:55 a.m.: More than three years after listing his Miami Beach mansion, baseball Hall of Famer Mike Piazza caught a winning pitch for the waterfront property.Piazza, who is considered one of baseball’s best offensive catchers, played for the New York Mets and Los Angeles Dodgers, as well as briefly for the then-Florida Marlins. He was inducted into the Baseball Hall of Fame in 2016 as a Met.He and his wife, Alicia, listed their waterfront home at 1401 West 27th Street on the Sunset Islands for $18.5 million in late 2017. It sold for $15 million.1401 West 27th Street on the Sunset Islands (The Jills – Photography by Luxhunters)The couple sold the property to Major Food Group co-founder and co-owner Jeffrey Zalaznick and his wife, Alison, who were renting the mansion prior to closing on it in mid-April, records show. The Zalaznicks declared the home their domicile in October, marking their official relocation from New York.Major Food Group has expanded rapidly since inking its first South Florida lease last year. It opened Carbone in South Beach and ZZ’s Sushi Bar in the Miami Design District.The 9,600-square-foot mansion on Sunset Island II has eight bedrooms, nine bathrooms and one half-bath on a 20,000-square-foot lot. The property features a guesthouse, 100 feet of deep water frontage with a dock and boat lift, a pool and wet bar.Jill Hertzberg of Coldwell Banker’s The Jills Zeder Group represented the Piazzas, and Danny Hertzberg of the same team brought the buyer, according to Realtor.com.Read moreHall of Famer Mike Piazza lists Miami Beach estate for $18.5M Major Food Group expands to South Florida New York restaurateurs decamp to South Florida Tags Celebrity Real EstateMiami BeachSunset Islands Share via Shortlink Message* Property records show the Piazzas paid $10 million for the Tuscan-style home in 2008. It was built in 2001 and has a library, home office and a master suite with a private balcony.Piazza and his wife also own a unit at the Ritz-Carlton Residences, Miami Beach, which they acquired in 2019 for $5.6 million, according to property records.Contact Katherine Kallergis Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* Email Address*
Rhode Island$6.3+7.4%3 STATEChange$ MillionsPercentChangeRank by% Change Kansas$18.9-16.4%7 South Carolina$40.5-22.7%3 tied Indiana$3.6-3.0%26 tied About NAMINAMI is the nation’s largest grassroots mental health organization dedicated to improving the lives of individuals and families affected by mental illness. NAMI has over 1,100 state and local affiliates engaged in research, education, support and advocacy. Wisconsin$107.1-22.4%4 STATEChangeMillionsPercentChangeRank by% Decrease Illinois$113.7-15.1%9 ARLINGTON, Va., March 9, 2011 /PRNewswire-USNewswire/ — New Mexico$0.9-2.0%30 D.C.$44.2-19.1%5 New Hampshire$8.8-8.5%19 California$587.4-16.3%8 New Jersey$5.3-0.7%31 Alabama$12.3+2.5%13 North Dakota$2.9+4.4%7 Wyoming$3.1-2.9%27 INCREASES FY 2009-2011 Colorado$10.2-6.7%21 Nevada$39.2-17.3%6 Washington$34.5-11.0%14 Connecticut$17.7+2.6%12 Alaska$47.9-35.0%2 Michigan$24.5-7.9%20 North Carolina$58.5+20.9%2 Two thirds of states have cut mental health care in the last three years’even though need has increased because of the nation’s economic distress and troops returning home from war, according to a report released today by the National Alliance on Mental Illness (NAMI).Seventeen states managed to increase mental health budgets during the same three years. For 10 of them, the increases totaled four percent or less.”State mental health cuts are a national crisis,” said NAMI Executive Director Michael J. Fitzpatrick. “Some states are trying to hold the line or make progress, but most are cutting deep. This stands in contrast to the intense national concern about the mental health care system following the Arizonatragedy two months ago.”State Lists and DataThe report can be downloaded at www.nami.org/budgetcuts(link is external). State-by-state tables appear in the appendices. A summary of decreases and increases appears below listing the total change in dollars, percentages and rank.In all states, the budget squeeze is getting worse in part because of the expiration of enhanced federal Medicaid support in June 2011. Oregon, for example, which increased mental health by $57.4 million over three years, will lose $156 million because of the expiration.The report focuses primarily on non-Medicaid mental health services, which are financed with state general funds and provided through state mental health agencies. It is the part of the mental health system that state legislatures have the most control over.”Cutting mental health means that costs only get shifted to emergency rooms, schools, police, local courts, jails and prisons,” Fitzpatrick said. “The taxpayer still pays the bill.”Mental health cuts mean that clinics, crisis centers and hospitals close. Admissions are frozen. Emergency room visits increase. Where services remain, staff is cut, wait times for appointments are stretched and when people finally are seen, it’s for shorter amounts of time.”Cuts mean people don’t get the right help in the right place at the right time. Communities suffer and families break under the strain. Some people end up living on the street or dead.”The report makes five priority recommendations:Protect state mental health funding and restore budget cuts, but tie funding to performance.Maintain adequate numbers of inpatient beds for psychiatric treatment.Invest in research on early detection and intervention in the treatment of serious mental illness in youth and adults.Implement mental health screening and assessment programs.Support programs designed to educate families, peers and the public about serious mental illness and how to respond to people living with mental illness.”Decisions need to be made carefully rather than simply cutting for cutting’s sake. If done right, the state budget crisis can still be turned into opportunity,” said Fitzpatrick.DECREASES FY 2009-2011 Pennsylvania$33.8-4.7%22 Georgia$2.0+0.5%16 Tennessee$16.8-10.1%15 Idaho$5.3-11.4%12 tied Utah$10.4-11.4%12 tied Louisiana$11.8-2.8%28 Minnesota$2.8+1.4%15 Oregon$71.0+23.2%1 Maryland$26.2-4.0%23 West Virginia$9.5+6.6%4 Oklahoma$4.8-2.3%29 Massachusetts$63.5-9.3%16 Ohio$57.7-11.3%13 Kentucky$193.7-47.5%1 Maine$10.4+5.2%6 Hawaii$27.2-12.1%11 New York$132.0-3.5%24 Iowa$15.2-8.9%18 Missouri$16.5+3.7%10 Montana$2.6+2.1%14 Nebraska$4.2+3.9%9 Arkansas$4.2+5.9%5 Virginia$38.5-9.1%17 Florida$1.2+0.2%17 Arizona$108.4-22.7%3 tied Mississippi$38.6-14.7%10 Vermont$4.5+3.0%11 South Dakota$1.8+4.0%8 Texas$27.6-3.0%26 tied Delaware$2.4-3.1%25
However, let me suggest two similar-sized deals with certain relevance to this property to help you understand the math.It’s said that Moreno’s group hopes to turn the stadium and land into a must-visit attraction. Well, the must-see Monarch Beach Resort in Dana Point recently sold for $497 million. How can a 400-room hotel be worth more than a 40,000-seat stadium plus a developable parking lot?For starters, the resort sits on 162 acres, a comparable plot to the stadium parcels. Note: Anaheim’s land does not offer Pacific Ocean views. PreviousAnthony Rendon smiles as he poses for photographs in Angel Stadium in Anaheim after he was introduced as the newest member of the Los Angeles Angels on Saturday December 14, 2019. Rendon helped lead the Washington Nationals to the World Series championship and reached an agreement on a seven-year, $245 million contract with the Los Angeles Angels. (Photo by Mark Rightmire, Orange County Register/SCNG)Pool at the Monarch Beach Resort in Dana Point. (File photo)The Monarch Bay Beach Club, previously called the Monarch Bay Club, has had a multimillion-dollar renovation makeover in Dana Point. The club offers private access to the beach where umbrellas, towels and chair service is complimentary and available to resort guests and members. Elements of the club’s redesign include: new canopies, lawn furniture, better accessibility and enhanced ocean views. (Courtesy of Monarch Bay Beach Club) SoundThe gallery will resume insecondsThe Monarch Bay Beach Club, previously called the Monarch Bay Club, has had a multimillion-dollar renovation makeover in Dana Point. The club offers private access to the beach where umbrellas, towels and chair service is complimentary and available to resort guests and members. Elements of the club’s redesign include: new canopies, lawn furniture, better accessibility and enhanced ocean views. (Courtesy of Monarch Bay Beach Club)Local elementary, middle school and high school students will perform a “Merry Monarch” concert on Sunday, Dec. 15, at Monarch Beach Resort in Dana Point. Proceeds will support Capistrano Unified School District. (Courtesy of CUSD)Angel Stadium in Anaheim on Wednesday, December 4, 2019. The City of Anaheim and the Angels reached agreement that will keep the Angels playing in Angel Stadium for another 30 years, and the city would sell the stadium and 133 acres around it to a business partnership including team owner Arte Moreno for about $325 million. (Photo by Leonard Ortiz, Orange County Register/SCNG)Angel Stadium in Anaheim on Wednesday, December 4, 2019. The City of Anaheim and the Angels reached agreement that will keep the Angels playing in Angel Stadium for another 30 years, and the city would sell the stadium and 133 acres around it to a business partnership including team owner Arte Moreno for about $325 million. (Photo by Leonard Ortiz, Orange County Register/SCNG)The Big A at Angel Stadium of Anaheim sits on the east side of the parking lot next to the 57 Freeway. The giant A, complete with light-up halo, was the Angel’s scoreboard when the stadium opened in 1966. The $1 million, 230 feet tall scoreboard was the largest built at the time. The Big A was moved to it’s present location in 1980. (File photo by Jeff Gritchen, Orange County Register/SCNG)Mike Trout (27) of the Angels watches the ball go over the fence after hitting a two-run home run in the seventh inning against the Dodgers during a Freeway Series game at Angel Stadium in Anaheim on Monday, June 10, 2019. (Photo by Leonard Ortiz, Orange County Register/SCNG)Angels Manager Joe Maddon does an interview with MLB Network after a press conference introducing him as the new team manager at Angel Stadium in Anaheim, CA, on Thursday, Oct 24, 2019. (Photo by Jeff Gritchen, Orange County Register/SCNG)Albert Pujols #5 of the Los Angeles Angels hits an RBI single against the Pittsburgh Pirates in the fourth inning at Angel Stadium in Anaheim on Wednesday, August 14, 2019. Pujols’ single, career hit No. 3,167, made him the all-time hits leader among players born outside the United States, passing Adrian Beltre. (Photo by Kevin Sullivan, Orange County Register/SCNG)The Brown family, of Huntington Beach, heads into Angel Stadium in Anaheim on Wednesday, August 14, 2019. Anaheim officials expect to sit down with the Angels in the next 60 days to look at the team’s development proposal, and the city has added a consultant to its team for the purpose. Anaheim hopes to see stadium lease proposal from Angels by October. (Photo by Kevin Sullivan, Orange County Register/SCNG)Anaheim Mayor Harry Sidhu holds a press conference to discuss the Angel Stadium lease talks on the 7th floor of Anaheim City Hall in Anaheim on Tuesday, August 27, 2019. (Photo by Kevin Sullivan, Orange County Register/SCNG)Anthony Rendon smiles as he poses for photographs in Angel Stadium in Anaheim after he was introduced as the newest member of the Los Angeles Angels on Saturday December 14, 2019. Rendon helped lead the Washington Nationals to the World Series championship and reached an agreement on a seven-year, $245 million contract with the Los Angeles Angels. (Photo by Mark Rightmire, Orange County Register/SCNG)Pool at the Monarch Beach Resort in Dana Point. (File photo)NextShow Caption1 of 13Pool at the Monarch Beach Resort in Dana Point. (File photo)Expand Why is Angel Stadium and its surrounding land worth less than an Orange County luxury resort or Mike Trout?The city of Anaheim is selling its baseball stadium and the parking lots around it for up to $325 million, with various unspecified caveats. On Friday, Dec. 20, city council will vote on selling the property to a mysterious group headed by Arte Moreno, owner of the facility’s main tenant: the Los Angeles Angels.Since the outline of the deal was announced earlier this month, there’s been plenty of conjecture about the true value of the 153-acre, city-owned property. If you think it’s hard guessing who’ll will the next World Series, appraising real estate is as much art as it is science. Related linksAnaheim should tell the Angels ‘good riddance’Why most pro athletes — including Mike Trout — are worth every penny of their big money salariesLansner: Error, Anaheim! City booted stadium deal with AngelsDana Point’s five-star Monarch Beach Resort sold for $497 million10 business trends every Southern Californian should be thankful for Newsroom GuidelinesNews TipsContact UsReport an Error Plus, the resort owns an 18-hole golf course and banquet halls, not to mention it controls a 6-acre beach club. And it’s seen $56 million in renovations in recent years.Oh, please note the resort is up and running and generating profits. According to one analysis, the resort had a positive cash flow of $24 million in this year’s first nine months after making $24 million in all of 2018.City documents show Angel Stadium was, at best, a breakeven proposition for Anaheim. So Moreno’s group won’t instantly be making money on its sizable purchase.Or if you want to discuss athletic valuations, consider baseball superstar Mike Trout’s latest contract with the Angels – 12 years of pay worth $430 million. Do not think for a minute that Moreno is “losing” that money.It doesn’t cost the Angels much more cash to leverage Trout’s skill, not to mention his fame, to win ballgames and sell tickets, merchandise, sponsorships and other team-related goodies. It may be hard for Moreno to quantify every last penny of his return on investment with Trout, but other baseball player deals suggest the best player of this generation is probably underpaid.Let’s look at the stadium. After paying for the land, Moreno’s group will spend hundreds of millions more to fix or rebuild the baseball facility, no less construct the properties expected to fill the land – including parking structures. Those dollars are spent with significant development risk: Creating an entertainment hub isn’t simple or easily lucrative.Ponder the five-star Monarch Beach Resort’s history. Its builders spent $200 million opening it in 2001. But the Great Recession trashed the tourism business, forcing the owners to give the resort back to their bankers. Even Citibank, a key lender, turned down the opportunity to acquire the resort a decade ago when its value slipped below $100 million.Or think of baseball signings. Angels’ history includes paying big dollars for “star” players who produced disappointing results – such as Mo Vaughn and Josh Hamilton. Paying up doesn’t always work. Even the team’s 10-year, $240 million deal with Albert Pujols, with two seasons remaining, doesn’t pencil as a profitable transaction using pure baseball logic.Are you a real estate fan? Then sign up for The Home Stretch newsletter and its Bubble Watch edition. A twice-a-week review of what’s important for housing around the region! Subscribe here!The bottom line is the city limited its land-sale options – and thus the final price – because its leaders want another entertainment hub on the site, and that’s a high-stakes endeavor. Yes, it could be a grand slam for the buyers. It could also be a disaster.But the real reason the seller of the Monarch Beach Resort and Mike Trout both got big dollars is they employed a tactic the city of Anaheim did not: real market pressure.Yes, the resort was quietly shopped without much fanfare. And Trout’s latest contract was negotiated outside the glare of high-profile free agency. The prospects of other suitors, even theoretical, pushed those final prices higher, no doubt. The city talked only with Moreno.Anaheim‘s current political leadership led by Mayor Harry Sidhu was unwilling to do what was necessary to maximize the asset’s value: Wish the Angels good riddance and hold a public auction for the stadium area parcels.Heck, maybe playing hardball would have compelled Moreno to offer more. Even the city’s own appraiser said the sales price would have been higher – if there was no stadium required for the property.But at least there’s some good news for Anaheim taxpayers in this stadium deal. City coffers get some significant cash, and even more importantly, the city gets out of managing this entertainment property. Let’s remember, the land development business offers zero guarantees. Even when you’re talking about prime, freeway-close real estate next to a major transit stop – just down Katella Avenue from Disneyland.Baseball stadiums and surrounding acreage don’t often sell. That means there’s no easy “comp” – real estate lingo for comparable properties. This balloons the valuation challenge, pushing price judgment to all sorts of strange economic calculations – as the city appraiser did in their report on the stadium’s value.