Ocean Drive property owned by Gloria and Emilio Estefan lists for $45M
Estefan-linked entity has owned the three-story building since 1992
It’s time for the listing agents of an Ocean Drive property owned by Gloria and Emilio Estefan to get on their feet and make a sale happen.
The Estefans listed the mixed-use commercial building at 820 Ocean Drive in Miami Beach for $45 million, an online listing shows. They’ve owned the Shore Park Hotel property for nearly 30 years. It is the longtime home of the now-shuttered Larios on the Beach.
Douglas Elliman’s Sam Gaita and Ana Viyella, who declined to comment, recently secured the listing for the three-story building. It features a 5,000-square-foot restaurant with a commercial kitchen and outdoor seating, a second floor with private dining rooms and outdoor seating, and seven newly renovated, fully furnished apartments on the third floor, according to the listing.
The S.O. Beach Corp., led by Estefan Enterprises and Emilio Estefan, paid $2.2 million for the 6,500-square-foot property in 1992. The building was completed in 1930 and has 50 feet of frontage on Ocean Drive.
The listing suggests that an additional story or rooftop uses could be added, and that the apartments could be operated as a hotel.
Emilio Estefan was not immediately available for comment.
The Estefans, who live on Star Island in Miami Beach, closed Larios permanently last summer. The Cuban restaurant opened in 1992, soon after they purchased the property.
As a result of the pandemic, the commercial street was closed to car traffic last year, allowing for more outdoor dining.
Following a rowdy Spring Break, the Miami Beach City Commission voted last week to roll back alcohol hours to 2 a.m. until early December in the mixed entertainment district, which includes the Estefans’ property. Residents could vote on a permanent rollback in November.
The Estefans listed their hotel for sale in late April, prior to the vote. Their entertainment powerhouse company owns hotels and restaurants in the Miami area, including the Cardozo Hotel at 1300 Ocean Drive in Miami Beach.