$370 Million Sale in Miami Beach

Real Estate Agent with Beachfront Realty 3220434



1035 Lincoln Road in Miami Beach (inset: Amancio Ortega)

1035 Lincoln Road in Miami Beach (inset: Amancio Ortega)

 In one of the largest real estate deals in Miami-Dade history, an entire block of Miami Beach’s Lincoln Road has traded hands for $370 million. And the buyer is the world’s fourth richest person, a Spanish fashion billionaire whose empire includes Zara.

A partnership led by local commercial real estate investors and developers Michael Comras and Jonathan Fryd sold the properties that run from 1001 Lincoln Road through 1035 Lincoln Road, now home to newly built stores for Gap, Intermix, Athleta, Apple and the future location forNike. The properties total about 48,000 square feet of land and 75,000 square feet of buildings. How nice to have had a piece of that action!

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Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

Is the plan for it to continue being used for its current use, or will it be leveled at some point and luxury high-rises put in? I would think that a better use of the land, and even then the businesses could remain on ground level space.

Feb 05, 2016 06:40 AM #1
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

A piece of that action would have been sweet Marco Giancola but I bet you will put something even bigger together one of these days. I hope you call your good friend Bob in North Dakota when that comes together.

Feb 05, 2016 09:07 AM #2
Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

That is one heck of a sale.  Yes that sale would make someone an instant millionaire.  Not bad.  Mark

Feb 05, 2016 09:51 AM #3
Joy Bender
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Love to have that commission.  I think the largest here that I know of was $200M Park Hyatt Aviara in Carlsbad

Feb 05, 2016 10:25 AM #4
Women of Westchester Working Together
Women of Westchester Working Together - West Harrison, NY
Women helping Women get ahead

That's incredible.  I wonder if he's the guy that bought a huge estate in our county, I think for $75 million.  He was from Spain and this was a summer home w/ 2 years worth of renovations.  It was private.  We worked on one of the guest houses.

Feb 05, 2016 12:04 PM #5
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA


We have soon $500 million house in Los Angeles, possibly on of the biggest homes in U.S. History.

Feb 05, 2016 03:51 PM #6
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Marco.  I can't even imagine those kind of sales numbers.

Feb 05, 2016 07:20 PM #7
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Marco. For all the money and hype I think the building is unattractive, and is better commercial.

Feb 05, 2016 09:09 PM #8
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Wow, that is a whole different level of real estate than I am used to dealing in, haha.

Feb 06, 2016 01:53 AM #9
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Quite the sale! Nice stretch of real estate.

Feb 06, 2016 03:37 AM #10
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Marco Giancola

Realtor (305)608-1922, Miami Beach Florida
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