Greg Mirmelli picks up Collins Avenue property after flipping nearby building

Greg Mirmelli with the Collins Avenue property (Getty)
Greg Mirmelli with the Collins Avenue property (Getty) via www.therealdeal.com

Mirmelli recently bought property near The Standard hotel, sold 800 Collins Avenue

Miami Beach investor Greg Mirmelli purchased a retail property on Collins Avenue that he eventually hopes to redevelop into a high-end residential project, The Real Deal has learned.

Mirmelli said he paid about $6.5 million for the building at 600 Collins Avenue in South Beach. The acquisition follows his sale of 800 Collins Avenue in November for $6.2 million.

The 600 Collins Avenue deal includes the corner property at 215 Sixth Street and the adjacent building at 604 Collins Avenue. Marcus & Millichap’s Drew Kristol and Kirk Olson brokered the deal.

Property records show an affiliate of Optimum Asset Management USA, led by Managing Director Matthew Barry, sold the parcels to Mirmelli. Optimum developed the nearby Celino South Beach hotel complex on Ocean Drive, which it sold last year to a hotel fund that counts Alex Rodriguez among its inventors.

By Katherine Kallergis  www.therealdeal.com
Read the full story  www.therealdeal.com

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