Brazilian developer Gilberto Bomeny is currently involved in a legal dispute with Cirrus Real Estate Partners over the control of a downtown Miami development site at 340 Biscayne Boulevard. The site, which was intended for an 82-story mixed-use tower, has been the subject of bankruptcy proceedings and foreclosure actions.
Bomeny’s earlier projects include the Regalia tower in Sunny Isles Beach and the One Thousand Museum tower in downtown Miami. Both developments faced legal and financial challenges. In 2019, after failing to pay a $3 million judgment related to Regalia, Bomeny and his partners were ordered by a Miami-Dade judge to relinquish their stake in two high-value units at the property.
At One Thousand Museum, Bomeny co-developed with Louis Birdman, Kevin Venger, Gregg Covin, and Todd Michael Glaser. In 2021, an affiliate of Reuben Brothers initiated foreclosure on unsold units due to an outstanding condo inventory loan exceeding $82 million. The developers managed to avoid foreclosure by selling units and restructuring debt.
The current conflict centers on the nearly one-acre property at 340 Biscayne Boulevard. Bomeny’s entities acquired it for $65 million in 2014 with plans for a large-scale project designed by Arquitectonica. However, financial difficulties led to bankruptcy filings starting in 2021. The city of Miami and Miami-Dade County cited building code violations at the site in 2022.
Cirrus Real Estate Partners entered as lender in 2024 by refinancing existing debt and increasing it by $7.4 million at a floating rate. When Bomeny’s entities failed to resolve their debts, Cirrus filed for foreclosure under the Uniform Commercial Code. After multiple bankruptcy filings from Bomeny’s side delayed proceedings, Cirrus ultimately won two consecutive court-ordered auctions—the most recent with a $95 million credit bid.
Despite these outcomes, Bomeny continues to contest Cirrus’ acquisition of the property through new motions alleging predatory lending practices that hindered his ability to refinance debt. He also claims Cirrus interfered with a proposed agreement involving Property Markets Group regarding use of the site as parking during construction of an adjacent development.
According to Cirrus representatives: “Bomeny’s refusal to accept the outcome fits a pattern of adversaries portraying him as a developer who won’t take ‘no’ for an answer, even when the numbers don’t pencil in his favor.”
Court records show that although creditors may benefit from increased sale value if the deal proceeds at $95 million, any additional value realized would likely not benefit Bomeny directly.
Attorneys representing both parties declined comment on ongoing litigation.
Bomeny’s persistence reflects previous disputes where he has fought against lenders and associates over control of luxury real estate assets throughout South Florida.
