Miami to review plans for 464-unit Vice apartment downtown
Miami officials are set to consider plans for the 464-unit Vice apartment tower by Property Markets Group in downtown. The project is located on part of the 2-acre site that PMG acquired in late 2014 for $80 million out of a receivership case. The previous owners, Maurice Cohen and Leon Cohen, planned to build twin 93-story…
Hong Kong Developer Drops $40 Million On Stake In Capital At Brickell
The transaction values the property at $88.88 million – and that’s by design.
Developers buy 103 units in Miami Beach condo
A partnership between several South Florida developers acquired 103 condos in the Continental on Collins Avenue on Miami Beach for about $19 million. Sukkah Miami Beach Acquisitions and Sukkah Miami Beach Acquisitions II purchased the condos in the building at 4000 Collins Ave. on Oct 7 – just after the Jewish festival of Sukkot…
Miami Named Among Top 10 Best Markets For Retail Investment
The annual “Emerging Trends in Real Estate” survey by consulting firm PwC and the Urban Land Institute (ULI) gets specific about which markets might be the safest bets for such investment, based on buy/hold/sell recommendations from hundreds of commercial real estate industry professiona…
Palmetto Park City Ctr Sold for $25.8M
A foreign investor acquired the Palmetto Park City Center office building at 120-122 E. Palmetto Park Rd. in Boca Raton, FL from Ram Realty Services for $25.75 million, or about $385 per square foot. The five-story, 66,966-square-foot, 4-Star building delivered in 1996 in downtown Boca Raton.
Walmart Gets the Green Light with a Demolition Permit
Walmart, the king of rollback pricing seems to be rolling forward with their plan to build a store in Midtown. The city got a demo permit for the site, which is a major coup and momentum builder for their cause. TNM staff reports that they applied for a phased construction…
Foreclosure Roundup: Miami Beach hotel project, waterfront Hollywood site targeted
A hotel redevelopment project in Miami Beach has been targeted in foreclosure. Edgewood MAC V LLC filed a foreclosure lawsuit on Oct. 13 against 1775 James Avenue LLC over the 46-unit building. It concerns a mortgage issued in March 2014 for $10 million. The lender is an affiliate of Southport, Ct.-based Edgewood Capital.
One Perspective On Complexity In Commercial Appraisal
When making the leap from residential to commercial real estate, one thing that becomes clear is that assigning a price to commercial property uses a very different process than is used in residential. While reading up on appraisal techniques, I had the thought that…
Downtown Miami at cycle midpoint, pricing will stabilize: report
Prices for condos and rental apartments in downtown Miami are up, as the market reaches a midpoint in the development cycle in advance of a major shift in supply next year, according to a new report to be released on Thursday. Condo prices have risen 6.74 percent over the past six months…
Miami Beach approves Lincoln Road master plan
Miami Beach commissioners on Wednesday unanimously approved a final master plan for Lincoln Road that will overhaul pedestrian-only street…
Swire to pay Miami-Dade County for Metromover invasion
Swire Properties will pay Miami-Dade County $635,040 for adding a little more wiggle room to the Brickell City Centre Metromover station. On Wednesday, a transit committee of Miami-Dade commissioners unanimously recommended approval of an amendment to…
Retail building on Washington Avenue sells at premium
Amid a slew of new tenants, property listings and sales, a retail building on Washington Avenue in Miami Beach has traded hands for $2.7 million, The Real Deal has learned. Jason Weisman of JAW Commercial and Chaim Cahane of Forte Capital…
Sunset Islands double lot listed for $23M
Two adjacent estates in Miami Beach’s Sunset Islands have been listed for a combined $22.9 million, The Real Deal has learned. The waterfront lots, at 1620 and 1630 West 21st Street, feature 22,800…
Chinese construction giant leases space in Wynwood
China Construction America, the giant Chinese conglomerate that is building Baha Mar in the Bahamas, has leased space in Wynwood for a showroom and offices, The Real Deal has learned. The company has signed a lease for 3,500 square feet at 2545 North Miami Avenue, Irma…