Owner of Bâoli, Massa Investment Group, Acquires Miami Beach's Paris Theater For $13 Million
Massa Investment Group has acquired Miami Beach’s Paris Theater, located at 550 Washington Ave., for $13 million; $508 per square foot. The Art Deco building, which was first built in 1935, spans 25,589 SF. The building was designed by architect Henry Hohauser and has operated over time as a cinema, adult movie house, nightclub and film studio.
Massa Investment Group has acquired Miami Beach’s Paris Theater, located at 550 Washington Ave., for $13 million; $508 per square foot. The Art Deco building, which was first built in 1935, spans 25,589 SF. The building was designed by architect Henry Hohauser and has operated over time as a cinema, adult movie house, nightclub and film studio. U2, Madonna, Jennifer Lopez, Christina Aguilera and Ricky Martin have all shot music videos at the theater. Big Time Productions was the seller after acquiring the Paris Theater for $975,000 in 1992 and first listing the property for $23 million in 2015. The transaction was financed with a $15.2 million loan provided by IberiaBank. Massa Investment Group is led by Mathieu Massa who is also the owner of Mr. Hospitality, the firm behind some of Miami’s most exclusive venues including Bâoli, Marion and El Tucan.
Image via Paris Theater
A New Hotel Dubbed Bohemian House Has Been Proposed On Washington Avenue In South Beach
A new 5-story hotel has been proposed on Washington Avenue in South Beach and will be reviewed by Miami Beach's Historic Preservation Board on January 9. The hotel will be developed by Acastar Miami, LLC., led by Genaro Enrique Gallo and the site is located at 1409-1413 Washington Avenue.
A new 5-story hotel has been proposed on Washington Avenue in South Beach and will be reviewed by Miami Beach's Historic Preservation Board on January 9. The hotel will be developed by Acastar Miami, LLC., led by Genaro Enrique Gallo and the site is located at 1409-1413 Washington Avenue. The hotel has been dubbed Bohemian House and would blend both old and new via the renovation of the existing historic structure as well as the addition of a new 5-story modern structure. Bohemian House would bring 50 hotel rooms that average 245 SF to Washington Avenue along with retail and parking.
CASA Boutique Hotel Opens on Washington Avenue, Miami Beach
The CASA Boutique Hotel recently opened at Miami Beach's 1334 Washington Avenue under the direction of developers Blue Road, led by Jorge Savloff and Marcelo Tenenbaum. Casa Boutique Hotel will feature 32 upgraded rooms at the site that housed the original, historic, Waldorf Building which was built in 1925. Blue Road kept the original exterior, Spanish style of the building while completely renovating the interior. Il Baretto, a new Italian restaurant which will offer tapas, fire-oven pizza and homemade pasta, is slated to open in March. Blue Road aims to offer affordable luxury to Miami Beach tourists that blends history and charm with modern luxury and technology.
Ytech has unveiled 75 Broadway in Brickell: a 52-story collection of 106 homes from $3 million, designed by KPF with ACPV interiors and Enea landscapes. Completion is anticipated in late 2029.