May 22, 2015 - 0 Comments - Top Stories -

Miami Commercial Real Estate News May 22, 2015

Downtown Miami / Brickell Offices of Keyes Commercial Real Estate / Keyes Commercial Realty / Keyes Commercial RealtorsDevelopment Du-Jour: City of Doral Gets its Very Own Little ‘Midtown’

Move over Midtown Miami, Doral is getting a ‘Midtown’ development of its own. As of September 2014, Phase One for Midtown Doral was about 70% sold and they are moving quickly to complete four of this phase’s 8-story residential buildings, consisting of 509 residential units (starting between…

Condo developer to appeal rejection of Bay Harbor Islands project on historical grounds

Developer P3 Investments plans to appeal the recent rejection of its condominium project in Bay Harbor Islands by the county’s historic preservation board.  Under its plan, the 35-unit Bay Harbor Continental co-op building at 1135 103rd Street would be demolished to make way for a seven-story condo with 28 units that the developer…

Work Finally Beginning On Theater And Restaurant At Met Square

Construction activity appears to be underway at Met Square, where a movie theater, restaurants, and apartment tower will be built.  MDM, the developer, filed a Notice of Commencement last week. The filing, signed for by Luis Pulenta of MDM, says that piling and excavation work is beginning.  Work had been delayed…

Flashback Friday: Photos of Wynwood

The Wynwood neighborhood, a local arts mecca and one of Miami’s hippest neighborhoods, was once known as the “golden gate” for Hispanic immigrants. A melting pot of Puerto Ricans, Cubans, Haitians, African-Americans, Nicaraguans and Dominicans that had been crippled by a bad image and a deteriorating economy.

History Lessons: Igor B. Polevitzky and the Creation of the Habana Riviera Hotel

Leaning outside the window of Miami’s 550 Brickell building, my grandfather William Hamilton Arthur III could see two black sedans waiting for his firm’s client— hotel and casino promoter Meyer Lansky. Meetings were short and the…

Miami a Finalist for 2019 or 2020 Superbowl

Miami hasn’t hosted a Super Bowl since 2010. Which isn’t exactly an astounding drought, but we are Miami. We do things like host Super Bowls. We’ve hosted ten of them in fact, tied for most with New Orleans. But one day the NFL’s top brass decided our little Sun Life Stadium wasn’t up to par anymore, and issued an unofficial…

Comment of the day: “This Miami Beach Convention Center Hotel…

“This Miami Beach Convention Center Hotel is the height of hubris. The City of Miami Beach is notorious for dismissing projects as ‘inappropriate’ and ‘out of scale with their context’ and then proposes what is likely the most inappropriate and out of scale project I’ve seen in all my time here. The…

Miller Time: Miami Drill Down: Picking Up the Scraps of the Financial Crisis

This week, real estate appraiser, Curbed graph guru, blogger, newsletter writer, and columnist Jonathan Miller looks at the real estate scraps of the last financial crisis. As we make our way through the second quarter (more than halfway!), I…

The New Atlantis: With the most at stake…

With the most at stake when sea levels rise, Miami will be the “new Atlantis” says Henk Ovink, a Dutch sea level rise expert. Ovink also says that in addition to trying to keep water out, we should be adopting building methods that incorporate flooding when necessary, like parks in ditches that…

Latest NAR Commercial Real Estate Outlook

Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data for metro areas is provided by REIS…

New Times re Miami Beach Late Night Booze Ban

The late-night party is over for Ocean Drive sidewalk cafes. The Miami Beach City Commission voted yesterday to ban all outdoor booze sales after 2 a.m. at the cafes’ outdoor tables, the first of several moves Mayor Philip Levine pledges will usher in a new era for the iconic beachfront boulevard.  Several restaurant owners slammed…

Beckham, Shalala to discuss partnering on football-soccer stadium

Soccer legend David Beckham, outgoing University of Miami president Donna Shalala and Major League Soccer commissioner Don Garber are expected to meet Friday to talk about partnering on a football-soccer stadium.  Beckham has been trying to bring a MLS team to Miami for nearly two years but has run into roadblocks…

South Florida home sales grow in April, yet Miami condo trading slows

Sales of single-family homes and condominiums increased in South Florida in April, but the outlier was the Miami-Dade County condo market where transactions slowed.  Meanwhile, Palm Beach County had the most sales growth.  According to the latest Florida Realtors report, there were 4,455 closings of existing single-family…

Developer Sees LED Billboard Tower As Tech Industry Catalyst

About 4 million square feet of office space will go up around the tower in an environment that tech companies like to work in.

Key Biscayne mayor on boat show: Anywhere but here

The Village of Key Biscayne, in another bid to block the Miami International Boat Show from anchoring at the Marine Stadium, has sent a memo to Miami-Dade County officials urging them to enter the fray on choosing a…

Bahia Mar in Fort Lauderdale brings on Menin Hospitality

Miami Beach-based Menin Hospitality was brought on to manage the food & beverage operations at Bahia Mar, the 39-acre oceanfront development that was acquired last year by a partnership of major Miami real estate players.  The ownership, which includes Jimmy and…

Ritz-Carlton Coconut Grove Hotel takes out $15M loan

Owners of the Ritz-Carlton Hotel Coconut Grove took out a $15 million loan, according to a mortgage recorded in Miami-Dade County on Thursday.  SunTrust Bank granted the loan to Miami-based investment firm Gencom. Gencom purchased the 115-room hotel in a joint partnership…

Miami Beach bans sale of alcohol after 2 a.m. on Ocean Drive

In a move some bar and restaurant operators said would not deter boorish, intoxicated behavior by visitors to Ocean Drive, the Miami Beach City Commission voted unanimously on Thursday to ban the sale of alcohol from 2 to 8 a.m. at all…

TIAA-CREF Pays $90 Mil For Broward Multifamily Asset

The 489,000-square-foot multifamily building was built in 2014.

Riviera Beach Marina redevelopment gets public market

The $375 million Riviera Beach Marina redevelopment project has grown to include a three-story public market for local farmers, food vendors and artisans.  The Riviera Beach Community Redevelopment Agency announced plans for the 50…

Chinese investors can now use Auction.com to buy real estate

From the New York website: Auction.com plans to market U.S. real estate to Chinese buyers.  Shanghai-based Juwai.com, an international property website, has formed a venture that will open up American assets…

Miami’s Hottest (Old) Real Estate Trend

GlobeSt.com caught up with Mike Nunziata, division president for Central Communities, to talk more about a reemerging trend with a new twist in South Florida in part one of this interview….

Why Foreign Consumers Flock to Miami Retail

There’s a bona fide retail construction boom in Miami even as other cities across the nation see a decline of brick-and-mortar stores in an e-commerce age. So what’s fueling Miami’s appetite for retail?

NAI, Avision Young See Executive Shakeup

Jeremy S. Larkin and Edward L. Schmidt, who have held those titles until now, were promoted to the newly created roles of co-chairmen, board members and constitute the company’s executive committee. After driving business to NAI Miami for decades, the duo will focus on revenue production and strategic growth initiatives.

How to Fix the Miami Gridlock Problem

The texting, the honking, the weaving, the confusing interchanges, the road construction, the slow-drivers and the death-wish speeders, the shouts of “come mierda!” muffled by steel, vinyl and tempered glass car windows. These are experiences with which many South Florida drivers are all too familiar when battling Miami traffic.