An entity owned by Melo Group called Art Plaza LLC has closed on the purchased of a 1.2-acre site west of the Arsht Center for $16 million.
Seller Astra International provided an $11 million mortgage.
Across the street, Melo owns the 14 Plaza site where they submitted plans for a 650-unit rental tower earlier this year (although a request to rezone was denied). Also across the street is the site where Gloria and Emilio Estefan plan a Bongo’s tower. Down the block is Melo’s under-construction 497-unit Melody tower.
