The Real Deal Miami

Bulk buyer scores 58 percent discount at Miami’s Gallery Art condo

December 23, 2009 11:17AM

Aventura-based Kypros Holdings, an investment entity run by Ramon Cierco and Blanca Palau, has purchased 20 condominium units in the 18-story Gallery Art condominium on Northeast 24th Street in Downtown Miami’s Biscayne Boulevard Corridor, for $2.9 million, or $169 per square foot. The Miami-Dade County Property Appraiser’s Office said the properties had a total value of $5.6 million. Gallery Art Condominium, with Harvey Hernandez as principal, was listed as the seller in property records. [Condo Vultures]