Melo Buys Third Parcel On Downtown Miami Block

Melo Group has closed on the purchase of a third major property on a single downtown Miami block.

Two of the properties were sold by Christ Fellowship Baptist Church:

  • About half of the property including the church building at 500 NE 1st Avenue – $10.75M (sold July 2018)
  • A 43,932 square foot surface parking lot next to the church – $10M (sold July 2017)

In addition, Melo purchased another property directly adjacent to the two church sites, from Downtown Legal Center LLC:

  • A 15,000 square foot lot at 46 Northeast 6th Street – $7.55M (sold April 2018)

Melo intends to develop a project on the newly acquired land that could include office, residential, retail, and/or hospitality, according to a an easement agreement filed with the sale.

The sale includes a portion of the current church building, which will be demolished. The main portion of the church building will remain, however.

The foundations of Melo’s new project will be beneath the remaining historic church building, the easement states.

Yesterday, a construction permit was filed for the property to build a scaffolding or pedestrian walkway, at a cost of $10,000.

 

Older renderings of two towers for the surface parking lot. Melo now has even more land, with the new acquisitions: