The Real Deal Miami

Johnny Rockets building in “Scarface” sells for $12.4M to NY developers

Last sold for $8M in May 2011

March 18, 2015 10:30AM
By Ina Cordle and Katherine Kallergis

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Steve Kassin of Infinity Group and the Johnny Rockets building

Steve Kassin of Infinity Group and the Johnny Rockets building

The Ocean Drive building known for the famous chainsaw scene in the movie “Scarface” sold for $12.4 million, The Real Deal has learned.

A Miami-based company sold the 6,500-square-foot site to an affiliate of New York-based Infinity Group, led by Steve Kassin.  Dan Arev, of New York-based Link Real Estate, and Moshe Popack, of Miami-based YMP Real Estate, brought Kassin in on the deal.

The 9,852-square-foot building at 728 Ocean Drive in Miami Beach is home to Johnny Rockets.

“It’s an irreplaceable asset in an irreplaceable location,” Arev told TRD.

Moshe Popack, who is largely focused on multifamily housing, with more than 3,000 apartments on the East coast, brought Arev in on the acquisition, Arev said.

Most recently, Arev was a partner in a New York-based joint venture that bought an entire block in Wynwood.

The seller of the Ocean Drive property, MER Ocean Drive, is managed by Mario Scarpetta Gnecco, according to corporate records. The 6,500-square-foot site last sold for $8 million in May 2011.

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