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Bacardi Building Sold

Bacardi entrusts landmark buildings to national organization dedicated to nurturing emerging artists. Frank Gehry commissioned to design master plan.

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Bacardi U.S.A., Inc. announced today that National YoungArts Foundation (YoungArts), a non-profit organization, has acquired the iconic landmark Bacardi Tower and Museum building complex in Miami, Florida. In an act of civic and cultural philanthropy, Bacardi has conveyed the property to YoungArts at a significant reduction of its market value, ensuring that an important part of Miami’s architecture, social and cultural fabric will be preserved and honored. Bacardi has always maintained a core philosophy that design, art and architecture reflect a quality of life and the quality of the superior spirits brands produced and marketed by the company.

YoungArts, founded by Lin and Ted Arison in 1981 to identify and assist outstanding emerging young artists ages 15 and up, will convert the buildings into the organization’s first national headquarters; creating a permanent home that will allow YoungArts to carry forward an expansion of activities unprecedented in its history. In order to help with its expansion, YoungArts has named Frank Gehry, Placido Domingo and Bill T. Jones as Artistic Advisors.  As part of this initiative, the organization will produce events year-round in New York City, including performances programmed by Mikhail Baryshnikov, master classes and screenings at The Museum of Modern Art, and performances at The Metropolitan Museum of Art.  The purchase of the Bacardi campus will allow the organization to begin year-round activities in Miami.