Posted Jul 27, 2015, 8:55 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
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Brazilian developer Leo Macedo bought the property, with plans for a 60-story condo-hotel
Quote:
The developer of the proposed Edge on Brickell has sold the Miami Riverfront site for $18 million to a Brazilian businessman, who plans to spend $200 million to build a 60-story condo-hotel, The Real Deal has learned. Leo Macedo, owner of the Brick Group, bought the two adjoining parcels, at 39 Southwest Miami Avenue Road and 55 Miami Avenue Road, from The Edge on Brickell LLC, owned by Rafael Aragones. Sisters Elena Iturriaga Arango, an agent with Arch Realty, and Cristina Gort Arango, an agent with Cervera Real Estate, brokered the deal. Iturriaga represented the seller; Gort represented the buyer, they told TRD. Their mother is Gabriella Arango, the high-end Italian designer who has a store on Miracle Mile in Coral Gables. Now that the sale has closed, The Edge on Brickell “is over,” Macedo told TRD. “I bought the land, but I am changing the plans,” Macedo said. He intends to develop a condo-hotel tower with 300 condo units, 200 hotel rooms, and a rooftop restaurant, he said. Architect Kobi Karp is designing the project Macedo said he is looking to bring in a five-star hotel flag. “I am talking with many flags, because many flags are interested in opening a new hotel in Miami,” said Macedo, who is investing $200 million in the project. “It will bring more money for the city and the Brickell area,” Macedo told TRD. “The Brickell area will be the little Manhattan. People won’t need a car, they will work close to where they live.”
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http://therealdeal.com/miami/blog/20....tkBkHYWD.dpuf
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