CLIENT NEWS: Mathieu Massa buys Miami Beach development site for $14M
February 25, 2022Developer and restaurateur Mathieu Massa bought a development site in Miami Beach for $13.5 million.
Property records show that an entity linked to Enrique Colmenares sold the lots at 427 22nd Street and 2206 Park Avenue to an entity led by Massa. The buyer took out a $6 million loan from City National Bank of Florida and a $2.5 million loan from the seller, records show.
Massa declined to comment on his plans for the properties, which are near The Bass Museum of Art. The contiguous lots total more than 17,000 square feet or 0.41 acres, combined. The 22nd Street lot fronts the Collins Canal.
Susan Gale with One Sotheby’s International Realty represented the seller. She listed the properties in September for $15.9 million, combined, according to Loopnet. Gale declined to comment through a spokesperson.
The lot at 427 22nd Street totals 9,040 square feet, and the lot at 2206 Park Avenue is 8,000 square feet. The seller purchased both properties in 2013 for $7 million, records show.
The properties are zoned CD3, which allows for apartments, apartment hotels, hotels and hostels. The properties could be redeveloped into a mixed-use, 120-room hotel and retail/restaurant space, pending approvals, according to the Loopnet listing.
Massa was born in the French Riviera and founded the Miami-based Massa Investment Group in 2009. He also owns Miami-based Mr. Hospitality, which runs Baoli Miami, Marion in Brickell and El Tucan. He’s an heir to a family that founded a large tire company in Europe, which eventually sold to Continental Tire of Germany in 2011, according to Massa Investment Group’s website.
Massa has been active in real estate in Miami Beach.
In August 2020, he sold a waterfront Miami Beach home for $6 million, built by his Massa Construction Group. In July of that year, He bought the Paris Theater on Miami Beach’s Washington Avenue for $13 million.
In July 2019, Massa also sold a waterfront spec home he developed in Miami Beach’s Nautilus neighborhood for $7 million.
