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

Recent posts

Real Estate News

Where to Find the Lowest Property Taxes in Miami?

by Sep Niakan | September 24, 2017

Most people don’t particularly love talking about property taxes. When looking for a home, buyers focus on more enjoyable aspects, like the layout, color scheme, size of the backyard, or the kitchen upgrades. Still, buyers have to pay...

Real Estate News

Miami’s New and Pre-Construction Condo Update: August 2017

by Sep Niakan | September 17, 2017

August comes up with quite some movement for the preconstruction condo market in Miami. We have Aston Martin Residences gearing up for a fall groundbreaking, Canvas and The Harbour successfully topped off, 1010 Brickell got its ok to open and...

Opinions and Advice

Back to school

by Sep Niakan | August 29, 2017

Septembers can be a sobering time for most as we say goodbye to summertime frolic. Kids are either back to school or are gearing up for it. Parents are busy running around, trying to get everything and every kid organized. It’s back to the...

Opinions and Advice

4 Property Tax Savings and Benefits when Buying Property in Florida

by Sep Niakan | August 29, 2017

For most people, paying taxes equals one big headache. In Florida, knowing your tax laws is worth the pain. Being a Florida resident, you can gain from many tax-saving programs. You can also find affordable real estate in big cities like Miami....