Hialeah Park casino owner buys 38 acres in Florida City

Miami /
Dec.December 08, 2015 12:45 PM

A 38-acre parcel of land in Florida City has sold for $6.735 million to John Brunetti, the owner of the massive casino and horse racing track in Hialeah.

NCG Florida City, an affiliate of Spanish bank NCG Banco, sold the development site, at 345 East Palm Drive. Avison Young’s Jay A. Ziv and Michael T. Fay represented the seller, according to a press release. The Florida City land is currently used as the Southern Comfort RV Resort, which includes a pool, cabin area and tiki bar.

Margarita Sanchez Lloria, Dionisio Fernandez-Nespral, Javier Fernandez-Perez and Xavier Perez of Key Biscayne are listed on the seller’s corporate filings.

The Spanish bank affiliate bought the property, which offers more than 1,300 feet of frontage on East Palm Drive, in 2009 out of foreclosure for $10.37 million, according to Miami-Dade County records. It’s near the Florida Turnpike, across the street from the Florida Keys Outlet Center, which Simon Property Group owns. The open-air mall has 50 stores, including a Nike Clearance, Tommy Hilfiger and Guess Factory Store.

“This investment opportunity was highly favorable to buyers due to its desirable infill location coupled with its high potential for development of a structure” that will benefit from nearby traffic, Ziv said in a statement.

The buyer announced earlier this year his plans to build a hotel on the Hialeah Park land, as well as a shopping mall. Brunetti has owned Hialeah Park, a 220-acre development, since 1977.

In October, a 25-acre development site near Homestead and Florida City sold for $6.5 million to a company tied to Peter Pessoa. – Katherine Kallergis


Related Articles

arrow_forward_ios
Rendering of 830 Brickell office tower; Cushman & Wakefield's Brian Gale, JLL's Manny De Zárraga, Avison Young's Donna Abood, Dwntwn Realty Advisors' Tony Arellano and Stephen Rutchik. (Credit: OKO Group and Cain International, JLL, CW, Dwntwn Realty Advisors, Cushman & Wakefield, Avison Young, Getty, 830 Brickell)
Meet the commercial brokers making bank in Miami
Meet the commercial brokers making bank in Miami
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
The "Jumanji" house at 9291 Point Cypress Drive in Orlando (Saunders Ralston Dantzler Real Estate, iStock)
“Jumanji” house in Orlando lists for $25M
“Jumanji” house in Orlando lists for $25M
Naples, Florida (iStock, Freepik, Illustration by Shea Monahan for the Real Deal)
Florida’s west coast cities rank among top emerging real estate markets
Florida’s west coast cities rank among top emerging real estate markets
Marisela Cotilla, Rachelle Hirt-Beres and Scott Gerow (Compass)
Movers & Shakers: Boca Raton team joins Compass
Movers & Shakers: Boca Raton team joins Compass
Joel Greenberg's attorney holding legal texts outside of a federal courthouse (Getty)
Joel Greenberg associates indicted on federal real estate fraud charges in Florida
Joel Greenberg associates indicted on federal real estate fraud charges in Florida
Landlords keep raising office space rents despite a grim outlook for vacancy rates (Getty)
Miami office vacancy rates reach Great Recession levels
Miami office vacancy rates reach Great Recession levels
Gov. DeSantis (Credit: Joe Raedle/Getty Images)
Drink up: Bars can reopen Monday in the Florida Keys — but not in rest of South Florida
Drink up: Bars can reopen Monday in the Florida Keys — but not in rest of South Florida
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...