Boymelgreens Sell Miami Beach Office Bought for $31M in 2017

The Boymelgreens have sold a Miami Beach office building to Isaac Rami, The Real Deal reported on Oct. 14. County records show the property last traded in 2017 for $31M, far above where it is carried today.

The building sits at 4100 Pine Tree Dr and 301 Arthur Godfrey Rd, a six-story, 39,638-square-foot office property. The 2026 sale price is not confirmed here. The deed has not yet hit the Miami-Dade record, and the Property Appraiser still shows the prior owner.

Why it matters

A sale well below the 2017 basis would mark a loss exit on Miami Beach office, even as residential and hospitality values there have held up. The Real Deal reported in July 2025 that the building was listed for $19.9M through Marcus & Millichap. We could not verify the closing price, so any loss figure is not established yet.

The Boymelgreen link to the ownership entities comes from The Real Deal’s reporting. The public record names the owner as JP Roosevelt Office LLC, not a Boymelgreen-branded company.

The numbers

Miami-Dade Property Appraiser folio 02-3222-001-0370 shows the following.

• 2/10/2017: Caton Owner LLC sold to JP Roosevelt LLC for $31M.
• 5/29/2024: JP Roosevelt LLC transferred to JP Roosevelt Office LLC for $12M, an affiliated transfer (OR Book 34266, Page 4534).
• 2026 assessed value: $9.5M.
• Reported 2025 asking price: $19.9M, per The Real Deal.

The $12M figure reflects a transfer between related entities, so it is not a market comparable.

What’s next

Watch the Miami-Dade Clerk for the recorded deed, which will show the actual price and the buyer entity. Once it posts, we will compare it against the $31M basis and the $19.9M ask. More on the market is in our South Florida coverage.