Internationally renowned artist Romero Britto now owns the 58,000-square-foot compound where the BRITTO® Palace is located in Miami, making it the official new headquarters of the BRITTO Group in the United States, which has business globally in fine art, consumer goods, retail, brand licensing, real estate, coffee shops, restaurants, hotels, skin care, and liquor.
Berkshire Hathaway HomeServices EWM Realty top-producer Jason Zarco of The Percal Zarco Group worked with Britto in the $11.8 million sale, which closed on Sept. 20. Alfredo Riascos, principal and broker of Gridline Properties, worked with the seller, real estate owner/operator Joseph Del Vecchio. For the purchase and loan from Ocean Bank, Britto was represented by Salomon V. Bagdadi, Esq., the Florida Managing Partner of Capozzi Adler, P.C. and President of Straight Line Title.
Located in Miami’s burgeoning Little River neighborhood at 795 Northwest 72nd Street, the BRITTO® Palace is a highly customized, 58,000-square-foot compound with two levels. Considered to be the largest art studio in the world, the dazzling space has already played host to dignitaries, celebrities, innovators, and art patrons from across the globe.
“This property has become a source of such palpable inspiration,” said Britto. “In so many ways, it’s a magical place where I like to spend most of my days creating with the purpose to bring more happiness to the world.”
“Miami is the perfect, vibrant and dynamic city for our new global headquarters and to our business expansion,” added Dr. Lucas Vidal, CEO of BRITTO Group and Britto's business partner.
“Romero Britto is a legend and a true Miami treasure,” said Del Vecchio. “I’m delighted to have played a small role in helping him make his enduring legacy more permanent with this acquisition.”
Little River, located in Miami’s Upper East Side, is rapidly emerging as one of Miami’s fastest-growing neighborhoods, characterized by an eclectic mix of creatives, culinary, and entertainment destinations. As ongoing development reshapes the area, the neighborhood is on track to become one of Miami’s most sought-after destinations for businesses and residents.
