Argentinian Family Nabs Development Site Neighboring Genting’s Massive Casino Project
by Sep Niakan | May 15, 2013
Right across the street from the Genting Group’s 30 acre casino project, Argentinian real estate investors, the Melo family, have bought a $9.5 million lot for the purpose of constructing a hotel and residential building. The purchase shouldn’t come as a surprise to industry watchers as the Melo Group has been snapping up land all over Miami. Just last year, the Melo family added about 800 condo units to the downtown Miami inventory over five projects. The family also dished out $4.5 million to swipe nearly 1.5 acres of riverfront property in Miami to accommodate 184 residential units.
The most recent acquisition is a 43,312 square foot plot on the corner of NE Second Avenue and 14th Street, in the Omni neighborhood. The real estate broker involved in the sale also revealed that the Melo family bought the land below market value in a high density area where hotels are doing particularly well. The combination project is adjacent to the Resorts World Miami on land only recently owned by the Greater Miami Opera which sold the property to the Melo Group.
by Sep Niakan | December 06, 2016
It’s my favorite time of year to be in Miami! The weather has cooled off a bit. The city’s abuzz with people from every corner of the world (thanks to Art Basel). The holiday spirit is gradually taking over, and there’s a bunch of...
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...
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...
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...