May 9 2017 | Brazilian Billionaire Proposes Miami Beach Condo TowerMay 29, 2017
A billionaire from Brazil is proposing to demolish a Miami Beach condo building and replace it with another one with fewer units.
Plans call for the 110-unit Marlborough House at 5775 Collins Avenue, a 12-story building completed in 1961, to be demolished.
The new 16-story condo would include 86 residential units and 185 parking spaces. All parking will be buried underground in a two-level garage.
Miami Beach Associates, LLC is the entity that submitted the plans to the city. 100% of the company is owned by Jose Isaac Peres, who is worth about $1.5 billion according to Forbes.
Peres controls Brazilian real estate company Multiplan, developer of the Il Villaggio condo on Ocean Drive completed in 1998.
Arquitectonica is the architect. Miami Beach’s Design Review Board has a meeting scheduled for June 6 when the plans will be considered.
Full Article http://www.thenextmiami.com/brazilian-billionaire-proposes-miami-beach-condo-tower/
Source The Next Miami