Brazilian developer Gilberto Bomeny is engaged in a legal dispute with Cirrus Real Estate Partners over the control of a development site at 340 Biscayne Boulevard in downtown Miami. The nearly one-acre property, which currently houses a Holiday Inn, was intended by Bomeny to be the location for an 82-story mixed-use tower.
The conflict follows Bomeny’s previous challenges with his luxury projects Regalia in Sunny Isles Beach and One Thousand Museum in downtown Miami. In both cases, he faced legal and financial difficulties that resulted in loss of control over high-value units.
Last month, Cirrus Real Estate Partners, led by Joseph McDonnell, secured the site through a $95 million credit bid during a bankruptcy auction. The auction was prompted by allegations that entities linked to Bomeny had defaulted on a $70 million mortgage. Despite this result, Bomeny continues to contest the transfer of the property.
Neither Bomeny nor his daughter Cristiane Bomeny responded to requests for comment regarding the ongoing dispute. Legal representatives for both parties also declined to comment.
Bomeny’s earlier projects have seen similar disputes. At Regalia, completed mostly by 2014, litigation halted progress on two of its most expensive residences—a multi-story penthouse and beach house condo. In 2016, Bomeny and his partners sued attorney Anthony Montello over alleged mismanagement and conflicts of interest related to development responsibilities at both Regalia and One Thousand Museum. Montello countered that proceeds from a loan meant for these units were used to purchase the 340 Biscayne Boulevard site. After failing to pay a court-ordered judgment in 2019, Bomeny’s group lost their stake in these properties.
At One Thousand Museum, co-developed with Louis Birdman, Kevin Venger, Gregg Covin, and Todd Michael Glaser, foreclosure proceedings were initiated in 2021 due to unpaid loans totaling more than $82 million. The developers managed to avoid foreclosure by selling units and restructuring debt.
Bomeny’s plans for 340 Biscayne Boulevard included a tower designed by Arquitectonica featuring condos, hotel rooms, offices, retail space, and parking facilities. However, after filing for bankruptcy protection in 2021—which was approved in 2022—the project encountered further issues when local authorities cited building code violations.
Cirrus entered as lender in 2024 by refinancing existing debt and increasing the loan amount. In 2025, Cirrus initiated foreclosure under the Uniform Commercial Code after another default; Bomeny’s entities again filed for bankruptcy to prevent immediate takeover. A second bankruptcy court auction held last month confirmed Cirrus as the winning bidder following an initial challenge by Bomeny that forced Cirrus to raise its offer from $77 million to $95 million.
Recent motions filed by Bomeny allege that Cirrus employed predatory lending practices that hindered refinancing efforts and sabotaged negotiations with Property Markets Group regarding use of the site as parking during construction of an adjacent development.
Cirrus maintains that Bomeny’s refusal to accept outcomes is consistent with past behavior described as unwillingness “to take ‘no’ for an answer.” Meanwhile, creditors may view the higher sale price achieved through continued litigation as beneficial—even if it does not directly benefit Bomeny himself.
The situation underscores recurring themes throughout Bomeny’s career: repeated disputes over control of major developments and persistent efforts to retain influence over high-profile real estate assets.
