I travel to properties with clients to show off the features of each home and help them compare different properties base on their needs. Before marrying Stephanie, he was married to Maria Llamas. However, Masoud probably spent his childhood in Iran, where he also acquired primary and secondary education. It was all possible due to their $1.5 million gift from them to the University. While women have long been striving toward a more equitable workplace, modern data shows that women still have a long way to go before reaching fair representation in the corporate world. I still remember the Rolls Royce letter that read, Stephanie, much like a Phantom, you have a commanding presence and you never stay in one lane.. His daughters have a great sense and ideas regarding the real estate development business. Mr. Shojaee. Miranda Cohen Net Worth: Biography, Fitness, Age, Height & Weight [2023]. JFIF C Yes Shojaees two daughters, Anneliese Shojaee and Lilibet Shojaee, both work with their father in real estate companies. The price dropped to $12.9 million in August 2017. A: Being recognized by Rolls-Royce as an ambassador was a surreal and humbling experience. , . The development is affiliated with four companies all managed by Shojaee and listed under Shoma Groups address, including Florida Wilshire. Your email address will not be published. The 57-year-old founders joie de vivre is as notable as the scale of his firms productivity. Masoud and Maria have been together in every up and down, whether personal or business. Masoud Shojaee and Maria Shojaee filed for divorce after 30 years of marriage. Her parents, Steve, and Sally Griffin, raise Masoud Shojaee And Maria Shojaee Wedding Photos. Source: The Real Deal ------------------------- Get the latest industry news and information from CRE-sources delivered right to your email inbox! 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. People are coming from Japan, the Middle East and around the world for the Miami lifestyle. How Many Games Are Played In The First Round Of The NHL Playoffs. It would be easy to think that Masoud Shojaee achieved his place at the pinnacle of South Florida real estate development on his ownbut he had a partner on his way to the top. When Masoud Shojaee moved to the United States, he began carrying a nest egg for his livelihood. She is working as the president of the Shouma Group. Instead of making this contribution from his personal funds, Mr. Shojaee caused Shoma to donate $1.5 million on his behalf. He established Shoma in 1988. <> Four months later, the Iranian revolution began. Now, Shoma (Now Shoma Group) is one of the largest real estate development companies in South Florida. Her success certainly did not come easily; as the child of Colombian immigrants, Stephanie had to fight tooth and nail against the odds to make a name for herself in business, a tenacity and work ethic she continues to maintain to this day. A: I have tremendous respect and admiration for Masoud and the thriving powerhouse that he has built. Post-event reconstructions, sometimes referred to as ballpark guesstimates are usually scorned by the Tax Court. The timing was lucky for him, the market was just ripe, the US was going through a savings and loan crisis, making it a great time to acquire property. Masoud Shojaee net worth is around $5-6 million. The Shouma hall has been helpful for the students of the University. Masoud and Steph has been married for over three years now. I hope I am healthy enough. Fresh off the announcement of Stephanies new role as Shoma Group president, the marketing master sat down with us to reveal her secrets to success, style, and how she hopes to inspire other women to follow in her footsteps toward executive leadership positions. Then, he decided to invest in the real estate industry. I am the proud daughter of two working-class Colombian immigrants who devoted themselves every day to provide for our family. It has eight bedrooms, 10 bathrooms and offers multiple pavilions providing excellent outdoor entertaining areas. Oh to be fly on the wall next Thanksgiving. I have to study everything .I play offensive and defensive it all depends on the timing and the market.. Q: Youve never sacrificed your love for personal style when it comes to your professional and personal life. Supplied with seed money from his father, who was a developer in their native Iran, Shojaee began his career in building well before he turned 30. Masoud Shojaee is the CEO and Chairman of the Board of Shoma Group, an award-winning real estate development company based in Miami specializing in residential and commercial projects. The company has made more than 10,000 residential units. Only a long time follower can relate. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. Similarly, she is also the owner of the Shoma Bazaar food hall. Shojaee purchased 237 lots on Northwest 6th Street and 132nd Avenue for nearly $9 million, and developed homes on the property. When he renovated an office building in the Waterford office park, he used a helipad to board one of his two helicopters, in which he flies over and observes his projects across South Florida every day. Hephner is best known for his roleplay of Jeff Clarke on the NBC TV series 'Chicago Fire' and its franchise 'Chicago Med.' That led to a second, 58-lot project, Kendall Best 3, also with Abreu. The rest of the tax blogosphere failed to note the admittedly somewhat tenuous connection to political intrigue and the deforestation of Central America, but that hunt for the story behind the story behind the story is what tends to slow me down a bit. On 18 December 2021, Masoud Shojaee gifted his wife Stephanie a private jet. Unfortunately, there is no exact figure of Masoud Shojaees salary. the highest percentage of Cuban and Cuban-American residents in the country, rent jumped a whopping 65 percent, from $1,000 to $1,650 a month. Stephanie was an executive in the real estate industry and is currently president of the Shoma Group. To be recognized as someone who takes risks, puts themselves out there, and is not afraid to be a trendsetter is such an honor, and I hope that my inclusion as a member of the Latina community can show other women of diverse backgrounds that the possibilities for their success are limitless. TC Memo 2015-59 Jose A. Lamas And Maria E. Lamas v Commissioner of Internal Revenue. This case is good news for developers, as this structure is common in that business: a permanent S corporation sets up new LLCs for each development project. The couple did not elaborate on the reason behind their divorce. I also stress that its always important to stay true to yourself and not let anyone change you. After completing his studies, Masoud Shojaee decided to put down roots in Miami. All in the Tax Court credited Mr. Lamas with 691 hours working for Shoma and Greens during 2008. In 2019, 4 years after his divorce was finalized, he tied the knot for a second time. Later Mr. Shoajee would tell the IRS that as a family business, there was no record kept of hours worked by officers and directors. By showcasing what I do throughout my work day, I hope to demonstrate that they, too, can have a seat at the table in the industry and do so while being their complete, authentic selves. An Iranian native, Masoud immigrated to the United States in 1978 before founding Shoma Group a decade later. She studied history and theater at St. Lawrence Kylie Cantrall parents are Alex Cantrall and Carol Borjas. There was a failed hotel development plan in Las Vegas a deal that collapsed in 2007 along with the economy. Appreciating her gift, one of her Instagram fans wrote Im dying how are you now. When I joined Shoma Group, we had very few women on our team, so I set out to change that and started seeking women candidates for open positions and started creating new roles too. A: I really enjoy sharing my work life on Instagram as a way of promoting the company and giving visibility to working women, especially in this field. That partner was Masoud Shojaees first wife, Maria Lamasthe daughter of Aljoma Lumber founder Jose Lamas. Rashmi Shrestha The stylish executive shares her husbands taste for luxuryin 2020, she was one of the only female brand ambassadors for Rolls-Royce in the US. You can tell from Stephanies posts on Instagram. But Masoud was greatly affected by it. Amid strikes and brewing unrest, Shojaee left home in August 1978 to study electrical engineering at the University of Miami. This Delray Beach estate listed for $20M includes a Chanel boutique-inspired closet, Not to mention the hidden cigar room, or massive pool, 10 of Miamis most iconic buildings, mapped. Shojaees aptitude for building is in his blood. His world changed on a dime, and he was literally on his own, Hall said. The actress started swirling into show business with her Youtube channel. His company in Honduras ( Jose Lamas S. de R.L) appearsin reports by environmental activists as logging illegally with the logs passing through Miami based Aljoma Lumber (which was sold to Universal Forest Products in 2007 for $53.5 million). Miami's independent source of As the wife of Shoma Group founder Masoud Shojaee, Stephanie Shojaee has helped transform the Miami-based development company into a modern multi-billion dollar empire through her role as. All that makes me kind of sad, because, having previously never heard of Mr. Lamas or the coup and only having the vaguest idea as to where Honduras is, I was really rooting for his son Jose Antonio Lamas (Mr. Lamas), who had served as CEO of Aljoma, as I read TC Memo 2015-59 Jose A. Lamas And Maria E. Lamas v Commissioner of Internal Revenue. Owned by developer Masoud Shojaee. ( Source : therealdeal ). The controlling stake in Shoma was with Mr. Lamass sister Maria and her husband, Masoud Shoajee. Huh? This unique Moroccan estate in Coral Gables owned by Miami developer Masoud Shojaee has resurfaced for $12.9 million ($1,036 per square foot), down nearly 20 percent off its original $15.9 million ask last fall. In 2021, Shoma Group sold Doral apartments for $102.5 million. He found that his daughter had better ideas. Masoud Shojaee is part owner of Shoma Group. Masoud develops many properties, from high-rise apartment condos to commercial buildings. Q: As the wife of businessman Masoud Shojaee, youve had to navigate many decisions at Shoma Group with one another; how have you successfully turned your romantic relationship into a flourishing business one? Similarly, the divorce procedure went on to a great extent and ended after four years. The private jet is just one of the many gifts Masoud gave to his wife in the past year. Chateau Artisan, a Miami castle designed by architect Charles Sieger, housed the Dwyane Wade-Gabrielle Union wedding extravaganza back in 2014. Deestroying Net Worth 2023: Early Life, Career, Personal Life & More Latest Update. For more on Stephanie and her ground-breaking approach to executive leadership and personal style, visit the Shoma Group presidents Instagram for the latest updates. She is living happy married life with her partner Masoud. I am proud to say that half of the employees at Shoma today are women, and that the Shoma marketing team I built from scratch is an all-women staff. Tour the amazing $11M castle Dwyane Wade and Gabrielle Union were married in. The three-story units will feature rooftop Jacuzzis and barbecues. The couples have two daughters with together, and their names are Lilibet Shojaee and Anelise Shojaee. 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. Today, I continue to make a deliberate effort to mentor our women employees at Shoma and give them opportunities to grow within our company, especially young women who are just starting out in the industry and are looking to launch their careers. Throughout my life, Ive encountered people who wouldnt take me seriously because of the way that I dress, as if fashionable women cant be legitimate business people. Ive always resisted that and have made a point to dress the way I want. Then in 2010 a follow-up letter was sent to the IRS that Mr. Lamas had not done much at all for Shoma or Greens. Initially, the company focused on developing mid-range priced properties, such as mostly single-family homes and townhouses. I focus on the tax issues of individuals, businesses & more. endobj document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); I am Judit Miltz a Realtor. (adsbygoogle = window.adsbygoogle || []).push({}); Copyright2023 Nnet Worth / All Rights Reserved. The taxpayer win in this case is encouraging and you really have to wonder why the IRS pushed it so far. Read Also: Pnuff Crunch Net Worth: The Biography of a Wealthy Businessman. Also, the same year, she enrolled a Megan Phelps Roper husband Chad Fjelland is an attorney at Fjelland Law Office. Mr. Shojaee made a personal pledge to the University of Miami for $1.5 million, and in exchange for this donation the university was going to name a [*5] facility after Mr. Shojaee. Among their recent projects are Eleven on Lenox, a luxury townhome development in Miami Beach and CityPlace Doral, a massive mixed-use development in collaboration with The Related Group that encompasses 250,000 square feet of retail and restaurant space along with 700 rentals (tour here). For example, between work posts, you can see me using lots of self-deprecating humor about how our dog Pebbles gets more attention from Masoud than I do. Most recently, the firm partnered with the Related Group on CityPlace Doral, a mixed-use project. This wife was Stephanie Shojaee (ne Mejia), his companys Chief Marketing Officer. , , and/or , and/or. About his childhood growing up, not much is known. I also try to use my platform to show the fun and exciting aspects of building and developing real estate because I think theres an incorrect perception that the industry is boring. In late October, Suarez sent a demand letter to Silva seeking access to Florida Wilshires tax returns for the last three years, copies of financial statements for the same time period, the amount of cash on hand and the value of the property. Amy gained an associate of arts degree in merchandise product development from the Fashion Institute of Design in 2009. At trial Mr. Lamas had ten witnesses that supported his material participation. [1] [2] Masoud Shojaee was awarded with Future Sharks entrepreneur of the year award in 2018 . The home was built in 2003 and the property was acquired a few years before that, in October 2000, for $1.56 million, according to public records. Join our VIP Club for exclusive giveaways and members only events. To start his business, he partnered with another real estate development company, A&F Developers, their first project was a 48-home property. They have no kids. The Groups focus back then was on building single-family homes in South Florida. Resi sales fell elsewhere in South Florida, Billionaire Michael Dell is buying the 1,000-plus room Boca Raton Resort, South Florida realtor killed in South Beach boat crash, ESJ Capital sells troubled Wellington charter school for $14M, Virgin Trains closes $1.75B bond issue to fund expansion to Orlando. Q: As the wife of businessman Masoud Shojaee, you've had to navigate many decisions at Shoma Group with one another; how have you successfully turned your romantic relationship into a flourishing business one? Being that I am a frequent shopper within luxury brands, I have been building relationships over time, most of which have turned into dear friendships. Report: 350+ Books Banned in Florida School Districts Since Last July, Uber, Lyft Drivers Strike at Florida Airports to Demand Livable Wages, All 200+ Books Banned in Florida and What Miami Booksellers Have to Say About It, Miami Dolphins Fan Guide to the 2023 NFL Draft, Shareholders Reeling in Wake of Miami SPAC-Merger Deals, Carollo Abuse-of-Power Trial Moves Forward in Wake of Jury-Tampering Claim. <> Using the IRS as a weapon in a business dispute is, well, not good business. Brennan married Isabella Izzy Roland on 1 April 2023. Shoma Group promoted Masouds second wife to the role of president in March of 2022. Highlighting the best architecture across the Magic City. Shojaee bought the 7-acre tract at 9400 Northwest 41st Street for about $8.5 million in 2014 and borrowed $70 million to build the project in 2019, according to the lawsuit. The trust accused Shojaee of secretly siphoning the firms available cash to pay and support his lavish personal lifestyle since 2015. Make a one-time donation today for as little as $1. He has an enormous sense of urgency with everything he does, and that is why he gets so much done, Patterson said. Masoud attended the University of Miami, where he earned a bachelors and masters degree in electrical engineering. Mr. Shojaee applies his vision and extensive knowledge of building high-quality developments in the diverse and growing South Florida real estate market. Get the latest updates in news, food, music and culture, and receive special offers direct to your inbox. The private jet had white and red exteriors, the carpet was red and custom made in Stephanies name. In February 2017, Masoud listed his Moroccan-style estate in Coral Gables for $15.9 million. The trusts allege Sanctuary is currently valued at more than $100 million. We get a reputation in South Florida for being flashy. For Shomas single-family developments, Shojaee said the company handles 80 percent of the design, 100 percent of the construction and 90 percent of sales. How does it feel to accomplish this feat, and what does it mean to you to be the first woman of Latina origin to earn the spot? On a larger scale, I have also tried to increase the visibility of women in leadership positions in real estate through my social media channels. She has close relationships with fashion houses, such as Dior and Hermes. Q: Your entry to Shoma Group as CMO helped elevate the company to new levels of success. Maria Schojaee was active as a member of Visiting Committee of the university. I am generally conservative, but I am a risk taker with a very calculated risk, he said. For me, my love of fashion is merely an extension of my personality and what makes me the woman that I am. Luis Suarez, an attorney representing the trusts, said his clients are entitled to see those records under Florida Wilshires operating agreement. She has a growing fanbase on YouTube with 184K subscribers. Kylie emerged i Nimesh Patel wife Amy Havel Patel is a Director at Whalar. Following his wife Stephanie Shojaee's new headline-grabbing position as Shoma Group President, buzz about the power couple's sharp business acumen and Insta-worthy relationship is beginning to spread. According to reports, he may have wanted to succeed his father, but in 1970, strikes and growing public unrest led to problems. Just Peebles their puppy. 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. I think what makes us a great professional team is that we have very different perspectives and backgrounds but the same aspirations for the company. Masoud Shojaee is a great proof of how hard work and perseverance can pay off. The former couple founded Shoma in 1988 and lasted almost 30 years together. This, the company started developing office buildings and other commercial properties. Masoud Shojaee is facing another legal entanglement involving his daughters. Shoma Group Sells Sanctuary at Doral 226-Unit Multifamily For $102.5 Million October 18, 2021 The Coral Gables-based Shoma Group, led by Masoud and Stephanie Shojaee, have sold their recently completed Sanctuary at Doral multifamily apartment building for $102.5 million to the Denver-based Avanti Group. He is one of the most iconic figures in the Miami real estate scene. Content created and supplied by: Georgiapens (via Opera I love what I do., from The Real Deal Miami https://therealdeal.com/miami/issues_articles/the-making-of-masoud-shojaees-empire/#new_tab Trouble was brewing for years at Doral-based homebuilder Shoma Development Corp., but an Internal Revenue Service audit and U.S. Tax Court fight brought the family squabble bubbling to the surface. Now, the Shoma Group wields a hefty amount of influence on the South Florida real estate market, and Masoud is its fearless leader. Their marriage was strong with the passing years. 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. Steph is the Chief Marketing Officer (CMO) of their , Shoma Group, while Masoud is the Chief Executive Officer. 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.. Work Experience Director, Marketing & Sales Shoma Group 2016-2018 View Stephanie Mejia's full profile Recent News About Stephanie Mejia Web References Scoops Intent SHOMA GROUP Events - azureazure.com Read more news Masoud is popularly known as the CEO of the Chairman of the Board of Shoma Group. A: I have tremendous respect and admiration for Masoud and the thriving powerhouse that he has built. Shoma Group recently renovated its headquarters at 201 Sevilla Avenue in Coral Gables. After the divorce, Maria remained out of the spotlight while Masoud found love once again in his life. I travel to properties with clients to show off the features of each home and help them compare different properties base on their needs. Every [other] builder was selling maybe five units a month if they were doing really well, and I was selling somewhere from 20 to 30 homes a month in that location. Prices ranged from $150,000 to $330,000 per home. And as conditions have shifted toward the end of this cycle, Shojaee, too, is changing tack by shifting to multifamily projects. 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. Parker of Douglas Elliman, which is now handling sales at Eleven on Lenox, calls Shojaee a visionary.. In 2008, amid the downturn, he sold all the inventory for more than $150 million, he said. Stephanie Mejia Work Experience and Education According to ZoomInfo records, Stephanie Mejia's professional experience began in 2016. Deadly crush during New Year festivities in Uganda, Nine die in Uganda New Years stampede in shopping mall, Pele in Africa: The man, the myth, the legend, Lula da Silva sworn in as Brazils president, Confusion as parliamentarian arrives at his wedding in tricycle [Photos], Perspective-skewing, non-linear heist tale pulled Giancarlo Esposito into Kaleidoscope. The company continued to expand its reach and began developing properties in areas such as Broward, Palm Beach and other areas of South Florida. Situations like this are why people who read Tax Court decision dont need to watch soap operas. The 21 best things to do in Miami with kids. One thing about Masoud is, he sure knows how to spoil his wife rotten, and Stephanie loves and appreciates him so much. It is also worth noting that Jose Seniors character building ownership structure of the businesses that he backed back-fired when it came to the passive activity loss rules, since it makes it impossible for someone to group all three as a single activity. In the early stages of the audit Mr. Shoajee had supported the view that Mr. Lamas had worked at Shoma on a regular and continuous basis at least 10 hours a week. Now there are many different players in the world of real estate, including appraisers, government and home inspection agencies, as well as potential buyers and sellers. I also assist clients in developing wish lists of features they want in their homes, guide clients through the process of staging and preparing their homes. 1 0 obj This project was successful and completely sold, leading to a second 58 lot development project. Stephani began her career as a Chief Marketing Officer of Shoma Group. Masoud is popularly known as the CEO of the Chairman of the Board of Shoma Group. Similarly, the company has made worth billions of real estate deals. The Daily Business Review, in its coverage of the case, focused on the family drama. Masoud surprised his wife with a customized private jet in the color, white and red, for Christmas. Read Also: Alexander Shunnarah Net Worth: Biography, Career 2022 (Updated). Masoud Shojaee likes the finer things in lifebespoke suits, private jets, fancy cars, and international cuisine. As a result of its reputation for building environment and quality homes, people want to buy Shomas advanced projects whenever they get them. One of those persons is Stephanie Shojaee, wife of real estate guru, builder and businessman, Masoud Shojaee. Therefore, Masoud Shojaee has an estimated net worth of $100 million. By making his wife CMO, it shows how much trust and faith he has in her. At 12,492 square feet and located off Casuarina Concourse, its among the seven biggest homes for sale in the affluent neighborhood.