Amancio Ortega, the world's second richest man above Warren Buffet and below Bill Gates has recently purchased a whole block of Lincoln Road.
Acting through one of his companies, Playa Retail Investments, LLC, Ortega paid $370 million for the land. The property includes almost 52,000 square-feet of buildable space on 1.1 acres of land.
Michael Comras and Jonathan Fryd represented the sellers who bought the 1001 Lincoln Road to 1035 Lincoln Road property back in 1999 for $12 million.
The new tenants of the building include Gap, Apple, Nike, and several other well-known brands.
Ortega is the second billionaire to purchase land on Lincoln Road. In 2014, Joseph Safra purchased the American Apparel building for a record-breaking amount. Safra is worth $12.4 billion, making him the second richest man in Brazil.
Source: thenextmiami.com
Photo credit: thenextmiami.com