Shaq investing in Miami Met real estate

Miami Heat center Shaquille O’Neal and Luis Pulenta of the MDM Development Group after a news conference Tuesday, Sept. 19, 2006.

Do you wonder if it’s too late to invest in Miami real estate?

Shaquille O’Neal doesn’t think so. Tuesday, he announced the formation of The O’Neal Group, a Miami-based real estate firm. The development company is aligning with MDM Development in a $1 billion project to build 1,100 residential units in downtown Miami, across from the American Airlines Arena.

The Met project includes an 866-foot building, touted as the tallest residential tower south of New York City.

Mr. O’Neal will be involved in the sales and marketing of the operation.

Let’s see, Shaquille O’Neal+ the tallest building south of NY…it doesn’t take a genius to see how they’ll market that one.

Neither The O’Neal Group Vice President Christopher Handy nor Met Miami developer Luis Pulenta would provide specifics about financial arrangements.

During the press conference, Mr. O’Neal and Christopher Handy, were quoted as saying, “we’re trying to give people a better way of living”.

No disrespect to either gentleman, but I hope “a better way of living” starts with a more affordable way of living.

In the next two years, tens of thousands of luxury condos will come to market.

Do something remarkable, sell your condos for a price real people living here in Miami can afford.

Don’t forget, we’re not as rich as our friends up there in New York City.

Related:
• Miami’s poverty keeps it as No. 3
• Shaq Involved in Miami Building Venture
• Metropolitan Miami (Offical Site)
• Celebrity Condos: Shaquille O’Neal

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