The real estate slump has allowed an Orthodox Jewish group to purchase land for a new synagogue across the street from Miami's Mary Brickell Village for 20 percent of the original asking price.

When Rabbi Chaim Lipskar approached Africa-Israel to buy the 7,000-square-foot lot three years ago, he said, the Israel-based real estate firm wanted $3.5 million.

But like many boom-time investors with ambitious plans, Africa-Israel, which along with Brooklyn-based developer Shaya Boymelgreen bought a handful of properties in Miami and Miami Beach five years ago, did not see its vision materialize.

On May 28, Africa-Israel sold the congregation the property, at 35 SE Ninth St., for $720,000.

''It's a glimmer of light among the lost of value of property,'' Lipskar said. ``The community is excited. We'll be central for anyone living downtown.''

Construction will begin within the next six to eight months, Lipskar said. After the building is completed in 2011, total cost of the 15,000-square-foot, three-story facility will be $3 million.

Designed by Miami architect Bernard Zyscovich, it will include a 5,000-square-foot sanctuary, a mikvah (ritual bath facility) and a preschool with a roof-top play area.

''This will be the first Jewish center to be built in the heart of Miami in [more than] 60 years,'' Lipskar said.

He runs two Chabad-Lubavitch synagogues with about 300 members in rented office spaces at 48 E. Flagler St. and 1101 Brickell Ave. Additional Jewish centers near downtown Miami include Temple Israel, 137 NE 19th St.; Chabad at Midtown, 3030 NE Second Ave. and Beth David, 2625 SW Third Ave.

Beth David, established in 1912, is Miami's oldest Jewish congregation.

When the new Shul of Downtown building opens, the Brickell Avenue location will close, Lipskar said, but the Flagler Street location likely will remain open.

Chabad Lubavitch is one of the largest Hasidic movements in Orthodox Judaism with about 4,000 centers in more than 50 countries.

There are 60 Chabad centers in Miami-Dade and Broward counties, according to the website www.Chabad.org.

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