550 Washington avenue, South Beach
Paris Theater South Beach sold for $13 million!
Miami-based Massa Investment Group, led by Mathieu Massa, bought the 25,589-square-foot building for $508 per foot.
The building sold at a sharp discount from its $23 million listing price in 2015. The Art Deco-style building was built in 1945. Under different owners, the property had been used as an adult movie house, a nightclub, and a photography and film studio .
Theater had a capacity to hold 1,200 patrons, and could be used for any type of event, including theatrical productions, launch parties and dances.
Massa Investment Group secured a $15.2 million loan from IberiaBank to acquire the property, records show.
Big Time Productions paid $975,000 for the building in 1992, records show.
Latest Posts
Miami Gardens finally gets The Drivers Club Miami approved!!
Developer Carlos de Narváez is moving forward with his $100 million luxury auto club project, Drivers Club Miami.
Read moreMarket Update from Andrey!!
The 2 -acre site was bought out for $1 million last year and is already getting ready to go up!The three-story, 54,300-square-foot building would be built on a 2-acre site. The units would each have two bedrooms and two bathrooms. Rents are expected to be about $1,645 a month. Global One Investment Group is the developer of the property.
Read moreNew 12+ acre development in Delray Beach!
Dallas-based Trinsic Residential wants to rezone the property from “mixed industrial and commercial” to “special activities district.” This would permit 292 multifamily units and 2,000 square feet of commercial space.
Read moreLarge development coming to Delray Beach!
The builder, Dallas-based Trinsic Residential Group, also obtained approval to erect four of the six buildings at a height of 55 feet, seven feet higher than what is permitted. The remaining two buildings will be 35 feet tall.
Read moreBeachside residences coming soon!
Beachside Residences brings a new brand of modern elegance and luxury living to Hollywood Beach. This boutique condominium of just 36 units features a minimalistic design and breathtaking views of the Atlantic Ocean and the Intracoastal Waterway.
Read moreBentley Tower finally announced by Dezer Development!
We have been writing about this future project for a while now, its offically out in the press! It will be the highest tower in Sunny Isles Beach reaching 749-feet with more than 60-stories!
Read more