The details of the Miami property for which Emilio and Gloria Estefan ask a fortune
The couple put up for sale the Shore Park Hotel, a building that housed the Larios on the Beach restaurant for years
The popular marriage of Emilio and Gloria Estefan has put up for sale, for USD 45 million, the Shore Park Hotel in Miami Beach , a Mediterranean-style building with mixed commercial use, according to real estate firm Douglas Elliman.
The property of the Estefans, who rose to fame in the late 1970s with their band Miami Sound Machine, was built in 1930. Located on Ocean Drive, the iconic South Beach street recognizable by the Art Deco style of its hotels and buildings, for years housed the Larios on the Beach restaurant .
” This mixed-use property includes an exquisitely designed high-end restaurant (approximately 5,000 square feet), with a spacious kitchen and outdoor seating, ” the real estate company highlights on its website.
The second floor of the building is comprised of private dining rooms and office spaces, and the third floor features seven completely renovated, furnished and “beautifully designed” rental apartments. The real estate agency highlights the possibility of ” adding an additional floor or a service area on the roof ” and highlights in the advertisement that it is a “perfect mixed space for restaurant, hotel and shops.”
The couple, who have owned the Shore Park Hotel for nearly 30 years, paid $ 2.2 million for the property in 1992
The Estefans, who live on Star Island in Miami Beach, closed Larios permanently last year. The Cuban restaurant opened shortly after they bought the property. As a result of the pandemic, the shopping street was closed to traffic in 2020.
The power of Gloria and Emilio Estefan’s empire in Miami
The Estefans have promoted the Cuban brand beyond music. The couple own the iconic Bongos Cuban Café at Disneyland, the elegant Estefan Kitchen restaurant and even a take-out store that they opened at the Miami airport.
They also own the famous Cardozo Hotel located on Ocean Drive. The Art Deco building was built in 1939 and has 41 rooms and suites spread over three floors. Gloria used to say when she was little that her dream was to be the owner of the hotel. In 2019, the couple reopened the hotel after four years of a $ 15 million remodel.
The Estefans also own the luxurious Costa d’Este resort and spa in Vero Beach, Florida, where the cheapest room costs $ 4,000 a night.
In March 2020, Estefan Enterprises announced that it was partnering with CVS Health to immediately locate up to 300 workers in South Florida, Orlando, and Vero Beach.
Estefan Kitchen Miami Design District, Larios On The Beach Ocean Drive, Estefan Kitchen Orlando, The Wave at Costa d’Este in Vero Beach and the Cardozo South Beach hotel were temporarily closed in the wake of the coronavirus pandemic.
“We have all faced very difficult and unfathomable decisions as we progress through this crisis. Gloria and I are doing everything we can to find opportunities for our employees and we are very grateful to CVS Health for partnering with our companies, ”Emilio Estefan said in a statement.