Miami Heart Institute, which last sold in 2000 for $70 Million, has been purchased by Lionheart Capital for an undisclosed sum.

The 666,798-square-foot property was built in 1984 and is located at 4701 North Meridian Avenue in Miami Beach.

Lionheart Capital is based in Miami and led by Ophir Steinberg, who is also a prinicipal at OZ holdings.

http://www.lheartcapital.com
http://www.ozholdings.com

Deed shows that the price was only $20 million, so Mount Sinai took a huge loss. Deed also restricts the new owner from using the facility for medical uses.

I Love Miami Heart Institute.

Miami Heart Institute buyers seek rezoning for condos
By Ivan A. Rodriguez

Lionheart Capital LLC, a Miami-based realty investment firm led by partners Ricardo Dunin and Ophir Sternberg, will try again June 26 to make a proposal to the Miami Beach Planning Board to rezone the Miami Heart Institute property, purchased in February for $20 million, for a luxury condominium project.

"We are bringing in world-renowned Italian architect Piero Lissoni to redesign the existing structure, in collaboration with the Boston and Miami-based ADD Inc.," Lionheart said in a statement to Miami Today.

The totally renovated building is to be 70,000 square feet smaller than the current 7.1 acres can hold and, given the large size of its residences, have substantially lower density than code allows.

"The plan aims to reduce traffic patterns, reduce noise levels and beautify the area, as well as raise property values for the neighborhood," the company stated.

http://miamitodaynews.com/news/120531/story2.shtml

Developer proposes luxury condos in Miami Heart Institute

http://www.miamiherald.com/2012/07/02/2879154/developer-proposes-luxury-condos.html

This was originally the site of the King Cole Hotel, one of Carl Fisher's hotels
http://miami.curbed.com/archives/2012/07/02/piero-lissoni-has-old-king-coles-big-shoes-to-fill.php