The Real Deal Miami

Historic downtown Miami building sells for $11M

Buyer plans to renovate century-old post office structure

June 12, 2014 09:45AM

  • Print
Old Historic Post Office building

Old Historic Post Office building

The Old Historic Post Office building in downtown Miami is about to change hands for $11 million.

Developer Daniel Pena-Giraldi of Stambul Ventures is expected to close Thursday on the acquisition of the 34,555-square-foot building at 100 Northeast First Avenue, according to a written announcement released on Wednesday. Pena-Giraldi’s company purchased another historic downtown structure, the former Miami National Bank building, in 2012. Stambul repositioned that building as a boutique hotel called the Langford.

Pena-Giraldi’s immediate plans are to renovate the Old Post Office, which was constructed more than 100 years ago.

The seller is Old Post Office LLC, a joint venture formed by Scott Robins and Tom Morgan. The venture bought the property about 10 years ago with plans to convert it to condos.

Tony Arellano of Metro 1 Commercial represented the seller. Mika Mattingly of Sterling Equity Commercial represented Pena-Giraldi. — Eric Kalis

MENU