Mr. Worldwide is now one step closer to building a boutique office on the site of his childhood home.
Courtesy of Darkroom Studio
A rendering of the planned office building that would rise at 25 NE 28th St.
Armando Christian Pérez, better known as Pitbull, and his development partner, Rilea Group, secured unanimous approval for the office building design plans from the Wynwood Design Review Committee on Tuesday, the Miami Herald reported.
The proposed eight-story, 11K SF office building would rise at 25 NE 28th St., the site of the Miami-born rapper’s 720 SF single-family childhood home. Pitbull’s record label, Mr. 305 Inc., is planning to plant its headquarters at the location, according to a Rilea Group release.
The home, which is permitted for demolition, sits on a 1,750 SF site — the smallest to ever go in front of the committee for review, the Herald reported.
There is no artist chosen for the building yet, a spokesperson for South Florida-based Rilea Group said.
Pitbull is active in the Miami real estate scene, more so through Sports Leadership Arts Management, the charter school he co-founded.
Miami’s City Commission unanimously handed over the Olympia Theater to SLAM for $10 in September. The school plans to commit at least $50M to repair and upgrade the building, promising to stage 180 public events a year.
SALES
An affiliate of Mindful Capital Group sold a 144K SF small-bay industrial park in Boca Raton to Northbridge Partners for $34M.
Oakland Commerce Center at 3600 NE Fourth Ave. is a seven-building, multitenant park built between 1972 and 1985. Mindful doubled its investment after it acquired the property in 2021 for $17.9M, according to property records provided by Vizzda.
A Cushman & Wakefield team of Greg Miller, Dominic Montazemi, Scott O’Donnell, Mike Ciadella and Miguel Alcivar represented Mindful Capital, according to a release.
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An entity tracing to Mirvian Rodriguez purchased a 98-bed assisted living facility in Fort Lauderdale from an entity managed by Golden Age Health Center’s Jorge Carmenate, according to records provided by Vizzda.
The Colonial Assisted Living at Fort Lauderdale sold for $20M. U.S. Century Bank provided $12M and $4.9M mortgages to Rodriguez. The assisted living facility at 2801 NW 55th Ave. was developed on 4 acres in 1988.Â
FINANCING
Noam Ziv, who leads Red-C Group, and Ilan and Ido Zaken landed a $70M loan to finish building a 28-unit condo in Boca Raton, the South Florida Business Journal reported.
The loan from New York-based Maxim Capital Group will fund vertical construction and refinance preconstruction financing for the Glass House Boca Raton.
Morris Betesh, Morris Dabbah and Louis Halperin of Arrow Real Estate Advisors brokered the deal. Construction is expected to finish in late 2027.
The project is expected to rise 10 stories, with units ranging between 2,500 to 3,900 SF. Prices for a condo start at $2.7M.
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Madison Realty Capital provided a $108M construction loan to Hyperion Group and joint venture partners Winter Properties and Silverstein Properties for a 371-unit multifamily project in Boynton Beach, according to a release.
A Newmark team of Jordan Roeschlaub, Nick Scribani and Holden Witkoff secured the construction financing for the eight-story project at 222 N. Federal Highway, called Ocean One.
Residences will have one or two bedrooms, with amenities including coworking spaces, a sports simulator, outdoor gathering areas and ground-floor retail.
Courtesy of Related Urban
Gallery at Marti Park at 450 SW Fifth St. in Little Havana
MILESTONES
Related Urban, the affordable housing development arm of Related Group, celebrated the grand opening of the 176-unit mixed-income Gallery at Marti Park.
About half of the project is market-rate rentals, and the remaining are reserved for low-income seniors under the federal Rental Assistance Demonstration program and workforce units for those making between 80% and 120% of the area median income.
The redevelopment at 450 SW Fifth St. in Little Havana replaced former public housing on Miami-Dade County-owned land leased for 75 years.Â
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Mexico-based sportswear retailer Culto Fútbol opened its second U.S. location at 744 Lincoln Road in Miami Beach just in time for the 2026 FIFA World Cup, according to a release.
The store will sell soccer apparel, footwear and fan accessories, including official jerseys from Inter Miami CF, Los Angeles FC and Real Madrid. Comras Co., which owns and redeveloped the property, landed the 7,400 SF lease in 2024.
LEASES
Codina Partners landed two new leases at 8333 Downtown Doral, bringing the office building to 90% occupancy, according to a release.
The 150K SF, six-story office building at 8333 NW 53rd St. was built in 2010, according to LoopNet. Cano Health, a primary, wellness and preventative services center, signed on for 25K SF on the sixth floor. Cushman & Wakefield’s Vivian Gonzalez represented Cano.
On the fifth floor, Isuzu North America Corp., which makes automobiles and diesel engines, signed a 6K SF lease. Travis Boyd and Jeff Gordon of CBRE represented the tenant.
PEOPLE
Avison Young hired Michael Fasano as senior vice president specializing in structuring and placing debt, preferred equity and joint-venture equity solutions in the Miami office, according to a release.
Fasano, who is joining the team after serving as director of debt and structured finance at Ripco Real Estate, will have a primary focus on Florida. Fasano brings more than 10 years of experience in lending and brokerage and more than $2B in gross transaction exposure.