Melo Group Purchases Downtown Miami Lot For $13M

34 Southwest First Street

Melo Group has purchased a 24,187 square foot lot located at 34 Southwest First Street in Downtown Miami for $13 million, according to the Real Deal.

The site is zoned for an 80 story building.

In July 2017, the FedEx building across the street sold for $37.25 million.

Melo Group recently completed another Downtown Miami assemblage for two rental towers called Downtown 5th and is currently building the under construction rental tower Art Plaza in the Arts & Entertainment District.

World Precious Metals Building In Downtown Miami Sold For $5.4M

World Precious Metals Building

The World Precious Metals Building in Downtown Miami, located at 40 NE 1st Avenue was sold for $5.4 million, according to The Real Deal.

The three story 4,982 square foot building was built in 1906 while the adjacent eight story building was built in 1917 with 17,850 square feet. Originally called the Ralston Building, it was once the tallest building in Miami for a short period of time.

The building was purchased by investor Elliot Antebi with plans to acquire food and beverage tenants.

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3H Group Hotels Purchases Edgewater Site For $7M

3047 Biscayne Blvd Site in Red

3H Group Hotels has purchased a 20,240 square foot lot in Edgewater located at 3047 Biscayne Boulevard for $7 million, according to The Real Deal.

The site was approved by Miami's Urban Development Review Board for a 13 story hotel with 137 rooms.

Moishe Mana Purchases Another Downtown Miami Building For $3.5M

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100 South Miami Ave

Moishe Mana has purchased a 2 story building built in 1949 and located at 100 South Miami Ave for $3.5 million, according to The Real Deal.

Mana recently purchased a building at 201 East Flagler for $12.9 million and over $350 million in Downtown Miami and Wynwood real estate  in the past 8 years.

Melo Group Adds To Downtown 5th Miami Assemblage

Melo Group has added to a their Downtown Miami assemblage with a $10.75 million purchase of property at 500 NE 1st Avenue, according to The Real Deal. 

A year ago, Melo Group purchased a 45,433 square foot lot next to the Christ Fellowship Baptist Church for $10 million, which brings its total purchase to $23 million. 

Melo Group is planning on building Downtown 5th, which will be two luxury apartment towers at approximately 50 stories. 

Next to Downtown 5th will be Okan Tower, which will be a the 890 foot tower with 389 condo-hotel units and will break ground by the end of 2018.

200 East Flagler Building Sold For $19.75M

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200 East Flagler St

A five story building in Downtown Miami, located at 200 East Flagler St has been sold for $19.75 million, according to The Miami Herald.

The 46,912 square foot building, which was originally a Walgreens, was built in 1937 and was purchased by Stambul. Stambul also purchased the Old U.S. Post Office and Courthouse Building for $11 million in 2014. 

The building will be converted into high end restaurants, retail and entertainment venues.

Miami Metromall Sold For $14.5M

Miami Metromall in Downtown Miami

Originally listed in September 2017 and expected to sell over $20 million, the Miami Metromall has sold for $14.5 million, according to The Real Deal.

The 225,000 square foot building was purchased by Yair Levy of Time Century Holdings with plans to renovate it into a luxury jewelry center. 

The site is zoned for 80 stories and 774 units.