Lionheart Capital, a real-estate investment firm, is spending $200 million to turn the former Miami Heart Institute into a 126-unit condominium. The company purchased the site last year for $20 million and plans to ask prices ranging from $2 million to $25 million per unit.

Like its property on North Ocean in Singer Island, Miami Beach-based real estate investor and developer Lionheart Capital plans to remake the now-closed Miami Heart Institute into a Ritz-Carlton Residences.