Miami Condo Market and Lifestyle Updates
The Melo Group Is at it Again, Buying a Whole City Block for Up to 2,000 Rental Units

The Melo Group Is at it Again, Buying a Whole City Block for Up to 2,000 Rental Units

by Sep Niakan | December 23, 2015

The Melo Group has accumulated an interesting chunk of land in Miami, just down the road from the Museum Club hotel and shooting range.

Miami Plaza, LLC, a company affiliated with the Melo Group, purchased 35,300 square-feet of land, which is one whole city block for $11.5 million. They also are finishing up purchasing the rest of the block, which would put the land to a grand total of 1.5 acres.

Melo already has possession of some land south of the block they just purchased. They plan on putting a 1,500 unit rental project on that site.

The seller is 4 RIL, LLC, which is managed by Ivan Sherman. Sherman is the manager of the company that proposed the Museum Club development project.

The new properties that Melo owns are:

  • 1545 Northeast Miami Court
  • 1529 Northeast Miami Court
  • 1523 Northeast Miami Court
  •  47 Northeast 15th Street
  •  1502 Northeast Miami Place
  • ·1546 Northeast Miami Place

 

 

Source: thenextmiami.com

Photo credit: thenextmiami.com  therealdeal.com

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