Michael Simkins buys land in Miami’s Overtown area

Purchase of 10 properties could be tied to proposed high-rise project

Apr.April 23, 2014 12:00 PM

Miami Beach investor Michael Simkins purchased 10 properties totaling more than one acre in Miami’s Overtown neighborhood for about $3.6 million.

The land acquired by Lion Folk Life Village, a company tied to Simkins, is located just north of the future site of All Aboard Florida’s downtown Miami station. Nine of the 10 parcels are vacant, according to the Daily Business Review. A small apartment building is located on the other property.

A nonprofit, The Collins Center, sold the properties to Lion Folk.

Lion Folk’s per square foot purchase price of $58 reflects rising property values in a blighted area with scant land investment in recent years. Three properties adjacent to Lion Folk’s site sold for about $30 per square foot in 2012.

The land acquisition could be tied to a high-rise project the Simkins family and former Miami Worldcenter partner Marc Roberts want to develop in the area. [Daily Business Review]Eric Kalis

Related Articles

690 Northwest 13 Street and Francisco Martínez-Celeiro (Credit: Google Maps, Wikipedia)

The final act: Spaghetti western star sells Overtown warehouse for $10M

JP Morgan's announces $5M investment in affordable housing in South Florida at the Black Archives Historic Lyric Theater in Overtown on Wednesday

JPMorgan to invest $5M to build 150 new affordable rentals in South Florida

Marcus Samuelsson and exterior shot of Red Rooster construction (Credit: Getty Images)

Marcus Samuelsson’s Red Rooster Overtown restaurant is almost ready

Michael Tillman and Soleste Grand Central

Overtown Opportunity Zone project snags $55M loan

Alfonso Jaramillo, Arthur Porosoff, and an aerial view of the property (Credit: Google Maps)

Developer closes on land assemblage for big resi complex near Miami’s Overtown

David Beckham, Jorge Mas and a rendering of the Overtown stadium

David Beckham, partners to close on county site in Overtown after all

Beckham group faces deadline to keep Overtown stadium site under contract

Beckham group faces deadline to keep Overtown stadium site under contract

L-R: Stefano Garofoli, Costantino Cicchelli and Frank Rodriguez Melo and a photo of 419-429 Northwest Eighth Street (Credit: BrickOne Group and Google Maps)

Miami investors buy apartments in Overtown Opportunity Zone