A previous Miami restaurant that was a popular hangout spot for stars including Frank Sinatra, Dean Martin and Lucille Ball has been sold for $1.2 million. The former famed hotspot was sold for $330 per square foot.
The 8,909-square-foot Miami restaurant is located at 10905 Biscayne Boulevard known as Casa Santino. It was a well-known dining destination for famous celebrities during the 1940s and 1950s. As Real Deal reports, the Miami property is not new to the real estate market. It was last offered at the price of $1.45 million. In 1973, it was sold for $95,000. The property includes a 3,644-square-foot building.
The Miami restaurant was reportedly sold to an Israel-based fund manager and a principal at Vintage Investment Partners named Asaf Horesh. Country records reveal that Calibrin Corporation, headed by Santino Cascio, sold the property to Horesh, according to Luxury Real Estate. Broker Jonathan Molano claimed that the Miami restaurant was sold at a cheaper price as most of the properties around the area have rates that are almost doubled the former well-known celebrity site.
The property is close to commercial spaces, including the Fiat dealership between North Miami and Miami Shores. It is opposite the new retail property LA FONTANA shops with Dunkin' Donuts and UFC Gym.
The Biscayne Boulevard where the Miami restaurant is located is currently being poised as a commercial hub. In July, Bay Harbor Islands developer Taubco built a $16 million development site on the boulevard. There is also a commercial building that is expected to rise in the Northern part after the investment group of Nancy Karp acquired the property for $2.7 million.
