Real Estate News

Marc Anthony-linked company spends $1.98 million on Miami headquarters for new media company

El Nuevo Herald

A company linked to Latin pop superstar Marc Anthony paid $1.98 million for a fully furnished office building in the unincorporated Pinewood area of Miami-Dade County last week.

That’s about $288 per square foot.

The three-story building will serve as headquarters for a Latin-centered media company the singer launched earlier this spring, according to a source with knowledge of the deal.

Magnus Media will focus on building brands for Latino artists, Billboard magazine reported in April. Its chief executive is Michel Vega, former head of Latin music for talent agency William Morris Endeavor.

The building, at 656 NW 98th St. in Miami, has about 6,900 square feet of space. It was built in 2012.

The buyer is a company controlled by Henry Cárdenas, a Chicago-based Latin music executive, county records show. Cárdenas and Marc Anthony run a charitable foundation together. Broker Cyril Bijaoui of Westside Estate Agency represented the buyer. He declined to comment.

Neither Cárdenas nor Magnus Media returned a request for comment.

The seller, a local company called Romia Properties, had originally listed the property for $2.14 million.

Nicholas Nehamas: 305-376-3745, @NickNehamas