Miami Condo Market and Lifestyle Updates
Brazilian Artist's Gallery Sold to Montreal Investors for $34.5 Million

Brazilian Artist's Gallery Sold to Montreal Investors for $34.5 Million

by Sep Niakan | May 19, 2014

The gallery of Brazilian artist Romero Britto in South Beach was sold for $34.5 million.

818 Lincoln Corp., a Miami-based corporation managed by Alan Levine, sold the property on May 7. 818 Lincoln Investments, a Montreal-based investment company, purchased the property from 818 Lincoln Corp. They received a $24.5 million mortgage from the seller as part of the deal.

Danny Lavy is the manager of 818 Lincoln Investments. Lavy is also the CEO of Elite Group, Inc., a household products distributor.

The 8,375 square-foot building last sold in 1993 for $335,000. The galleria, located at 818 Lincoln Road, was originally built in 1935, and is still in its original design.

Britto currently owns and operates his gallery and showroom, Britto Central, on the property being sold.

 

Source: therealdeal.com

Photo credit: Britto Central Gallery - therippingblog.comRomero Britto - Oceandrive.com

Recent posts

Real Estate News

Could Cite in Edgewater Have New Hotel Neighbor?

by Sep Niakan | January 12, 2017

According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...

Real Estate News

Brickell Avenue Bridge Schedule, Traffic and Solutions -- All You Need To Know

by Sep Niakan | January 09, 2017

Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...

Real Estate News

9 Positive Signs for the Miami Real Estate Market in 2017

by Sep Niakan | January 08, 2017

Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...

Real Estate News

Projects That Will Change the Way We Look at Wynwood, Forever!

by Sep Niakan | December 28, 2016

We all know Wynwood as the friendly, hipster neighborhood splashed with the best street art in the world. It’s where we all go for our art fix, browse far-out finds and linger around for a couple of craft beers. But, how about shopping,...