It is official. Gloria and Emilio Estefan’s property in Ocean Drive just hit the market. The Estefans recently listed their mixed-used commercial building that they have owned since 1992 for $45 million. The three story property is located at 820 Ocean Drive.
Gloria and Emilio Estefan’s property features a 5,000 square foot restaurant with commercial kitchen and outdoor seating. In addition, it also has a second floor with dining rooms and outdoor seatings. Finally, it has a third floor with seven newly renovated and fully furnished apartments. In 1992, the S.O Beach Corp led by Estefan Enterprises paid $2.2 million for the 6,500 square foot property. According to the listing, another additional story or rooftop could be added. In addition, the apartments could be operated as a hotel.
Currently, the Estefans live on Star Island in Miami Beach. They closed Larios permanently last summer, which had opened in 1992 soon after they purchased the property. In addition, because of the pandemic, the commercial street was closed to car traffic. This was in order to allow for more outdoor dining. The Estefans listed their hotel for sale in late April.
Read more: https://therealdeal.com/miami/2021/05/17/ocean-drive-property-owned-by-gloria-and-emilio-estefan-lists-for-45m/
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