The Real Deal Miami

Melo pays $16M for 1.6-acre site

Property located near Miami's performing arts center
From left: Jose Luis, Martin and Carlos Melo

From left: Jose Luis, Martin and Carlos Melo

The Melo Group picked up a property close to Miami’s performing arts center for $16 million.

The 1.6-acre site is a few blocks west of the Adrienne Arsht Center for the Performing Arts, the South Florida Business Journal reported. The deal also involved $11 million in seller financing.

Astra International sold the six parcels at the southwest corner of Northeast 14th Street and Northeast First Avenue. Most of the site is vacant, with a few apartment buildings and a retail building. [South Florida Business Journal] – Jennifer White Karp