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

Lifestyle

Car-free in Miami: How to Give Up Your Car for Lyft and Uber . . . and Love it.

by Sep Niakan | November 29, 2016

This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...

Real Estate News

How Miami Condo Sales Will Benefit from New FHA Lending Rules

by Sep Niakan | November 24, 2016

Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...

Real Estate News

Reflecting on BrickellHouse Robotic Parking Garage Failure

by Sep Niakan | November 22, 2016

It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...

Real Estate News

What’s behind Downtown’s Latest Population Explosion?

by Sep Niakan | October 31, 2016

From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...