Variance Requested For Citadel HQ Brickell Supertall Rooftop Crown

A variance is being requested from Miami-Dade in order to build a supertall rooftop crown at the Citadel HQ tower proposed in Brickell. Plans for the large crown were submitted to county planners in March, in a revision from earlier plans for the tower submitted in October. Miami-Dade’s Rapid Transit Zone Metromover Subzone regulations includes visual corridor requirements…

Revised Plans Filed For Citadel’s Brickell Supertall Tower

Revised plans have been for the supertall office and hotel tower planned by Citadel on the waterfront in Brickell. Plans for the tower were first submitted to Miami-Dade County for site plan review in October 2024, and the revisions were submitted in late March (multiple revisions of development plans are typical during the county review process). The height of the building…

$51.5M Refinancing Arranged for Dadeland Centre Office Buildings in Metro Miami

JLL has arranged $51.5 million for the refinancing of Dadeland Centre I and II, two office buildings within the Dadeland Centre complex in metro Miami. Paul Stasaitis led the JLL team in arranging the 10-year, fixed-rate loan through Goldman Sachs on behalf of the borrowers, The Green Cos. and an entity doing business as Dadeland Centre. Built in 2003 and 2008 by The Green Cos…

$8.6M Sale of Retail Center in Miami’s Little Havana Neighborhood Brokered

Marcus & Millichap has brokered the $8.6 million sale of Village Shoppes, a 26,648-square-foot retail center located in the Little Havana neighborhood of Miami. Situated at 503–533 SW 12th Avenue, the center comprises two parcels with multiple stores, 30 parking spaces and more than 325 feet of retail frontage. The property also allows for 40,000 square feet of future development…

Developer proposes 166-unit Live Local Act tower in Miami’s Little Havana

A developer proposes a 166-unit Live Local Act project in Miami’s Little Havana neighborhood, marking a continuing flurry of project applications under the state’s affordable housing law. An entity led by Khashayar Khazai and Shane Shapiro of Sunny Isles Beach wants to build a 23-story tower with 400 square feet of commercial space on a half-acre site at 521 and 531 SW 7th St…

41-Story Live Local Tower Planned In Wynwood Norte

Miami’s Urban Development Review Board is scheduled to meet today to discuss a proposal to build a 41-story tower in Wynwood Norte. The development is proposed under Florida’s Live Local Act, allowing certain zoning rules to be bypassed by committing a percentage of units to be income restricted. The tower is proposed to include: 234 residential units ground floor retail…

Blackstone boosts South Florida portfolio with $116M multifamily buy

Blackstone is wheeling and dealing in South Florida, picking up a fairly new Miami Lakes multifamily project for $115.9 million, about the same time the global investment firm sold a Hialeah office building. An affiliate of New York-based Blackstone, led by Stephen Schwarzman, acquired Solea at Miami Lakes at 17405 Northwest 94th Court, records and real estate database Vizzda show.

800-Room Miami Beach Grand Hyatt Gets $392M Construction Financing, Completion 2027

Two of Miami’s biggest developers have secured construction financing for the massive Grand Hyatt convention center hotel in Miami Beach. The development team led by David Martin’s Terra and Jackie Soffer’s Turnberry obtained $392 million in construction financing from TYKO Capital. It is the largest standalone hotel loan issued in Miami in over a decade.

Miami Beach moves forward with Meruelos’, Terra’s controversial Deauville project

Tensions ran high during a Miami Beach commission meeting on Wednesday over the Meruelo family and David Martin’s proposed redevelopment of the Deauville Beach Resort. The Meruelo family and Terra plan a 120-unit condo and 150-room hotel project on the 3.8-acre oceanfront site at 6701 Collins Avenue. The project, with two condo buildings and the hotel…

After the office boom: Miami-Dade construction starts drop to nine-year low as projects “just don’t pencil out”

South Florida became a magnet for out-of-state companies in recent years, prompting giddiness over the tri-county region’s office market. Even as headwinds emerged, developers pushed new projects through approvals. But now, many of the planned offices remain concepts on paper. Office construction starts in Miami-Dade County –– an epicenter of recent years’ bonanza…

Photo: Construction Progress On Double Deck Highway

A photo shows construction progress on a double deck highway, part of the Downtown Miami Signature Bridge and highway reconstruction project. Completion of the project is still scheduled for late 2027, with a budget of $840 million, according to the project website. The estimated completion date has remained the same for around two years now…

Miami Office Campus Dadeland I and II Lands $52M Refi

Now 93 percent leased, Dadeland Centre I and II were delivered in phases, in 2003 and 2008. Image courtesy of JLL The Green Cos. has secured a 10-year, fixed-rate loan from Goldman Sachs for Dadeland Centre I and II, two office buildings located in Dadeland, Fla. JLL Capital Markets arranged the $51.5 million in leasehold financing. “The lender keenly focused…”

Total Demolition Permit Approved For One Brickell City Centre Property

A total demolition permit for a building at the One Brickell City Centre site has finally been approved. Approval for the permit was issued this morning. It was first applied for in April 2023. Demolition of another building at the One Brickell City Centre site was approved under a separate permit in 2023. That demolition is now complete, but it was delayed after debris fell…

Empira Breaks Ground On ENSO In The Roads

Switzerland-headquartered investment manager Empira Group celebrated the start of construction for ENSO in The Roads. ENSO will include 85 Class A rental units, in a building designed by Revuelta Architecture. Units will range from one to three bedrooms. Ten of the units will be premium apartments, with private terraces spanning 700 to 1,000 square feet.

233-Unit Luxury Condo Planned In Wynwood, Units Can Be Listed On Airbnb

Plans have been announced for a luxury 8-story condo building in Wynwood. The building will be known as Twenty Sixth & 2nd Wynwood Residences. Twenty Sixth & 2nd Wynwood Residences will be the first luxury condo building with deeded office suites partnered with Airbnb. It will include 233 residential units, which can be hosted along with the office suites…

Joe Carollo won’t face criminal charges for harassing Little Havana developer Bill Fuller

Miami City Commissioner Joe Carollo won’t face jail time for allegedly stalking Little Havana developer Bill Fuller. On Tuesday, the Broward State Attorney’s public corruption unit closed a criminal investigation into allegations that Carollo stalked Fuller, as well as falsely accusing establishments he owns of committing crimes. Investigators also probed accusations…

Coral Gables Centennial: Biltmore helped battle early competitors

The developer of Coral Gables, George Merrick, had grand plans that included keeping an eye on competitors who were developing their own big projects nearby. Two days after the first flurry of advertisements announcing the Miami Shores development, Mr. Merrick announced his great hotel, holding a dinner for 200 dignitaries at the Coral Gables County Club…

Lyle Stern, Kerry Newman propose 400-unit Live Local Act project in Miami’s Allapattah

Commercial real estate brokers Lyle Stern and Kerry Newman propose a 400-unit Live Local Act project in Miami’s Allapattah. Stern and Newman, of Miami Beach-based Vertical Real Estate, propose a 24-story building on a 1.2-acre site at 2186 Northwest 13th Avenue and 1330-1342 Northwest 22nd Street in Miami, according to their filing included in a city board meeting’s…

Vast Braman Motors Edgewater remake to add two 60-story towers

Braman Motors, a long successful and foundational business venture in the City of Miami, is about to expand dramatically with a growth spurt of sweeping proportions that would include two new 60-story residential towers. The Braman company, utilizing special development options in the Miami 21 zoning code, plans to start construction on a phased redevelopment…

Hialeah to consider affordable housing density bonuses

Developers could add more density to mixed-income multifamily projects in Hialeah, if they set aside units for low-income residents. On Wednesday, the Hialeah City Council will hold a first reading vote on an ordinance that would boost development sites, by allowing 100 units per acre instead of the current 70 units per acre. The catch? Developers would have to set aside…

$87.7M Financing Secured For Seagis Miami-Dade County Industrial Portfolio

JLL Capital Markets worked on behalf of the borrower, Seagis Property Group, to secure an $87.7 million loan for the Miami-Dade County portfolio through a life insurance company. The Miami-Dade County portfolio consists of seven fully leased industrial properties totalling 787,728 square feet. The assets are strategically located in highly sought-after industrial submarkets…

Seagis nabs $88M refi for Miami-Dade industrial portfolio

Seagis Property Group landed an $87.7 million refinancing for an industrial portfolio in Miami-Dade County. State Farm Life Insurance Company provided the loan to Conshohocken, Pennsylvania-based Seagis, led by John Begier, records show. A JLL team led by Jim Cadranell and Gregory Nalbandian arranged the financing on behalf of Seagis, a press release states.

Here’s how South Florida condo developers are prepping for tariffs

The sudden panic resulting from President Donald Trump’s tariffs has subsided, and despite his 90-day pause on country-specific duties, fees on steel, aluminum, lumber and other materials remain in effect. That includes a universal 10 percent tariff on all goods coming into the U.S. Since Trump’s announcement on April 2 and the pause just one week later, developers, contractors…

$16M Sale of North Miami Shopping Center Arranged

Avison Young has arranged the $16 million sale of Sans Souci Plaza, a 47,350-square-foot retail property located at 2104 and 2222 NE 123rd Street in North Miami. This acquisition marks the first time the center has been sold. The property — which is anchored by Zaika Indian Cuisine and Catch Specialty Fish Market — comprises two buildings constructed in 1974 and 1976.

$155 Million in Financing Secured For 40-Story Flow House at Miami Worldcenter

Invictus Real Estate Partners and Integritas Capital have closed on a $155 million construction completion and condominium inventory loan for Flow House, a 40-story residential tower located at 697 North Miami Avenue within Miami Worldcenter. The financing supports the project’s transition from a rental development to a condominium offering, which has become…

Developers Propose ‘Black Creek Apartments’ in Miami’s Goulds Neighborhood

Developers have proposed a multi-family housing development for Miami’s Goulds neighborhood. Black Creek Apartments would measure seven stories above grade and feature 252 apartments. Residences would include one-bedroom and two-bedroom floorplans, occupying a vacant 5.28-acre site. Communal amenities would include a ground-floor swimming pool…

Braman Miami Campus Expansion Proposed

Miami’s Urban Development Review Board is scheduled to have a hearing on an expansion of the Braman Miami Campus. Plans show a new 11-story automotive building, including sales and service uses. A woonerf is proposed to be built as part of a focus on pedestrian-level improvements in the area, with a new public park. A gas station on the campus would be “reimagined” with…

Miami Worldcenter Plans Grand Opening Party

Miami Worldcenter is planning a grand opening celebration for the new “city within a city” next month. The event will include performances by Flo Rida, Nicky Jam, and Shaggy, with a special guest performance by Lee Greenwood and a block party stage featuring Alesso. A fireworks display is planned. Miami Worldcenter is a 27-acre, 10-block development with a total…

Three Cranes Installed To Build $185M Complex Next To Wynwood

Three tower cranes have been installed at the Rainbow Village construction site adjacent to Wynwood. The $185m mixed-use development is being built on county-owned land at the border of Wynwood in Overtown. Rainbow Village is planned to include: 310 affordable housing units around 12,000 square feet of retail more than 50,000 square feet of amenity space 442 parking spaces…

PMG, Lndmrk plan short-term rental-friendly condos in Miami’s Wynwood

PMG and Lndmrk Development are teaming up to build a short-term rental-friendly condo project in Miami’s Wynwood neighborhood. The developers are planning the eight-story, 233-unit Twenty Sixth & 2nd Wynwood Residences at 2600 Northwest Second Avenue in Miami, according to a press release. They are buying the development site for an undisclosed…

465-Unit Magnus Brickell Reaches Completion

Get ready for hundred more residents to move into Brickell. A grand opening celebration took place last week for the 29-story Magnus Brickell tower (it was formerly known as The Gallery at West Brickell). Magnus Brickell is a Class A apartment development that includes 465 residential rental units. The unit breakdown includes: 302 market-rate units 93 units for households…

$27M Refinancing Secured for Midtown Miami High-Rise Development at 3452-3470 North Miami Avenue

South Florida-based Cymbal DLT Companies has secured a $27 million refinancing loan for 3452-3470 North Miami Avenue, a 25,000-square-foot existing mixed-use retail and office building located in Midtown Miami. Linkvest Capital provided the refinancing through its lending affiliate LV Lending, a Miami-based private lender specializing in bridge financing…

Demolition Progresses at 1401 Brickell Avenue, Future Site of 41-Story Santander Tower in Miami’s Financial District

Demolition is steadily progressing at 1401 Brickell Avenue, where a 14-story, 236,877-square-foot office building is being cleared to make way for Santander Tower—a forthcoming 41-story Class A office development in the heart of Miami’s Financial District. Demolition is being carried out by The BG Group LLC. Aerial imagery captured in mid-March reveals the existing structure…

Brickell 2035: The Future of Real Estate Development in the Heart of Miami

In this article we want to take you on a journey into the future… specifically, to the year 2035, where the Brickell skyline, Miami’s financial heart, will be unrecognizable compared to today. This article is designed for those who look beyond the present and seek investment opportunities with a long-term vision. Because if there’s a city in the United States with impressive…

Lease roundup: Nicklaus Children’s Hospital takes space in Coral Gables, vitamin firm opens Palm Beach County facility

Nicklaus Children’s Hospital signed a lease for space at Columbus Center in Coral Gables. The hospital leased 67,700 square feet at 1 Alhambra Plaza, according to Cushman & Wakefield’s first quarter office report for Miami-Dade County. Columbus Center, consisting of a 14-story building and an eight-story building, faced debt woes for much of the past year. Last month…

Hollywood Technical Advisory Committee to Review 30-Unit Development at 2455 Polk Street in Hollywood

Chicago-based 2455 Polk LLC has proposed a low-rise housing development in Broward County. Current plans call for a four-story development with 30 units, including one-bedroom and two-bedroom floorplans. The average residence will measure 735 square feet. They will likely be at-rate units. RentCafé reports that the average cost of an 890-square-foot apartment…

Ticket Clinic’s founder advances plan to build condo-style storage for high-end cars in Pembroke Pines

A company led by Mark S. Gold, founder of The Ticket Clinic, advanced plans to build a condo-style storage facility in Pembroke Pines for collectors of expensive cars. The Pembroke Pines City Commission voted Wednesday to rezone the development site of the unnamed car-storage condominium on Pines Boulevard west of I-75. The development would have 44,000 square feet…

$260M CMBS loan heads to special servicer; debt secured by struggling Pembroke Lakes Mall

Brookfield Asset Management still hasn’t figured out what to do about a maturing $260 million commercial mortgage-backed securities loan secured by a struggling South Florida mall. And now the Toronto-based global investment firm is a step closer to facing foreclosure on the debt. The CMBS loan has been transferred to a special servicer for maturity default, according…

120-Unit Affordable Housing Venture Proposed for Sunrise

Yesterday, Florida YIMBY reported on The Powerline Apartments, of which could be Oakland Park’s first community under the Live Local Act. Now, we have learned of another project that will be its city’s first venture under the Act. Pine Island Park, located in Sunrise, would comprise 120 homes. For a project to be considered under the Live Local Act, at least 40 percent…

Groundbreaking Held for Waldorf Astoria Residences Pompano Beach, the Brand’s First Standalone Residential Development

Construction is officially underway on the Waldorf Astoria Residences Pompano Beach (The Residences), a 28-story luxury condominium tower set to rise on a two-acre oceanfront site at 1350 South Ocean Boulevard in Pompano Beach, Florida. Developed by Related Group and Merrimac Ventures in collaboration with Hilton, the project marks the debut of Waldorf Astoria’s standalone…

BlueWater buys Boathouse Marine Center in Pompano Beach for $16M

BlueWater Marinas beefed up its portfolio with the Boathouse Marine Center in Pompano Beach. The Charleston, South Carolina-based firm bought the 36,000-square-foot building at 599 South Federal Highway for $16.1 million from Fort Lauderdale-based Roschman Enterprises, according to records and real estate database Vizzda. BlueWater also purchased fixtures…

Developer Proposes ‘Powerline Apartments’ for 917 N.W. 36th Street in Oakland Park

Two developers have proposed what could be the first Live Local community in Oakland Park. The Powerline Apartments would measure nine stories and require 325,761 square feet of new construction, occupying a vacant 2.4-acre site. The community would feature 257 homes, with square footage ranging from 455 to 1,121 square feet. Layout plans include studio to two-bedroom units…

Waypoint wins approvals for 286-unit Oakland Park development

Waypoint Residential advanced plans for Cypress Crossing, a mixed-use development with 286 apartments that would replace parking lots in the Cypress Creek area of Oakland Park next to I-95. The Oakland Park City Commission voted Wednesday on second reading to approve a master plan of development and six zoning waivers for Cypress Crossing, which would have more…

Canadian investor pays $21M for Boca Raton office building

A Canadian investment firm bought an office building in Boca Raton for $20.6 million. Ontario-based Axia GeoCapital, led by Nickolas Georghiades, bought the seven-story One Park Place office building at 621 Northwest 53rd Street and adjacent garage at 601 Northwest 53rd Street at the Park at Broken Sound, according to records. The buyer borrowed $16.3 million for the purchase…

First Look at Exterior Photos of Completed 23-Story Lumaire in Downtown West Palm Beach designed by CLA+D

Newly released photography reveals the completed exterior of Lumaire, a 23-story high-rise luxury rental tower situated at 201 Clearwater Drive, along the Clear Lake waterfront in Downtown West Palm Beach. Designed by Carl Levin Architecture + Design (CLA+D) and developed by Hyperion Group, the 457-unit tower contributes a distinctive formal…

In $121M deal, Blackstone and Link sell another South Florida industrial portfolio; Ares Management picked up facilities in Miramar and Dania Beach

Blackstone and Link Logistics unloaded another set of South Florida warehouses. Affiliates of Blackstone, a New York-based investment giant led by Stephen Schwarzman, and its Link subsidiary sold three industrial sites in Dania Beach and Miramar for a combined $120.5 million to Ares Management, records and real estate database Vizzda show. Link, also based in New York…

Video: Inland Research Head Phil McAllister Discusses Economic, Demographic, & Cultural Trends Impacting CRE Decisions

Commercial real estate is a complex and dynamic sector that requires a sharp understanding of economic, demographic, and cultural trends. In a recent episode of America’s Commercial Real Estate Show, the host spoke with Phil McAllister, head of research with Inland, about these trends and how they might impact decision-making in the real estate industry.

Measuring uncertainty : FRED has several series to help you gauge economic and financial uncertainty

How certain are you of what’s going to happen over the next few months? People’s confidence in anticipating the future dwindles during periods of major economic change. Economists and analysts try to gauge the level of uncertainty about economic conditions because it can affect economic decisions (saving, spending, investing, switching jobs…), which can affect aggregate…

Florida lawmakers consider bill that would eliminate real estate’s regulatory board

The future of the Florida Real Estate Commission is in the hands of lawmakers. FREC, which oversees real estate agents, brokers and brokerages, could be eliminated under proposed legislation aimed at de-regulating industries such as real estate. House Bill 1461 calls for the repeal of FREC, among other boards and commissions that fall under the Department…

$3 Billion In Self Storage Sales In 2024 Pave The Way For A Strong 2025

The self storage industry had a big year in 2024, with 822 properties sold for a total of $3 billion. More than 51 million square feet of storage space changed hands, making up 2% of the country’s total inventory. Investor demand stayed strong, fueled by the sector’s steady cash flow and ability to perform well in diverse market conditions. The average sale price settled at $108 per square foot…

Beige Book Reports Growth but also Uncertainty

The Federal Reserve Bank of Atlanta’s new Beige Book reports mostly neutral to negative feedback from business contacts, even as the Southeast’s economy grew slightly from the middle of February through March. For example, many firms reported reasonably stable demand for workers and mostly unchanged staffing levels. Yet a small but growing share of contacts…

Is It Time to Play the Contrarian Card?

The real estate development boom of 2021–2023 feels like a distant memory compared to the current challenges of ground-up development today. Back then, nearly every project a developer considered seemed viable. Multifamily rents were climbing by 10% annually, demand surged due to pandemic-driven relocations, cap rates hit historic lows, and developers could secure debt…

Economic Uncertainty Grows, But Apartment Demand Nationally Prevails

Despite softer economic fundamentals, multifamily demand remains strong. Over 138,000 apartment units were absorbed in 1st quarter 2025, a record high for the first three months of the year. Atlanta led all major markets in 1st quarter absorption, followed by Phoenix and Dallas. Anaheim was the only major market to record net move-outs during the quarter.

Video: Seyfarth Partner James O’Brien Discusses Firm’s 2025 Commercial Real Estate Market Sentiment Survey

In a recent episode of America’s Commercial Real Estate Show, the host welcomed James O’Brien, a partner with Seyfarth Shaw, a prominent law firm with a significant commercial real estate group. The discussion focused on Seyfarth Shaw’s annual survey of their clients, which provides insights into the thinking and strategies of major players in the commercial real estate…

Terra, Fortune pay record $205M for waterfront Key Biscayne development site

David Martin partnered with Edgardo Defortuna to pay a record $205 million for a Key Biscayne development site where they plan a 56-unit ultra-luxury condo building. Martin’s Miami-based Terra and Defortuna’s Miami-based Fortune International Group acquired the former Silver Sands Beach Resort property at 301 Ocean Drive, according to a press release.

Ronny Finvarb scores $19M loan for Miami Beach mixed-use project

Ronny Finvarb can get to work on a mixed-use project in Miami Beach after nabbing a $19 million construction loan. Coral Gables-based Amerant Bank provided the financing to an affiliate of Finvarb Group, Finvarb’s Bay Harbor Islands-based firm that owns a 0.2-acre development site at 1790 Alton Road, records show. Finvarb Group is planning a five-story building…

Legacy, Cayon propose 235-unit apartment building near Miami International Airport

Developers propose a 235-unit apartment building with workforce housing near Miami International Airport. An entity tied to Legacy Residential Group and Cayon Development Group want to build the eight-story building on a 2.3-acre site at 3685 Northwest 36th Street in unincorporated Miami-Dade County, according to an application the developers submitted…

$5.7M Sale of Retail Strip Center in Miami’s Dadeland Area Brokered

A firm has brokered the $5.7 million sale of Plaza 77 Shops, a 9,590-square foot retail strip center in Miami’s Dadeland neighborhood. Situated less than one mile from Dadeland Mall, the property is anchored by Trulieve and Domino’s Pizza, which both operate on corporate-guaranteed leases. Additional tenants at the center include Chase Bank, Outback Steakhouse, Anthony’s Coal…

Dorissa of Miami in Wynwood hits market for roughly $25M

Dorissa of Miami, a storied property that once played a role in Wynwood’s garment industry, hit the market for roughly $25 million, The Real Deal has learned. The 0.8-acre site, consisting of a two-story office, retail and restaurant building built in the 1950s, is at 28 Northeast 28th Street in Miami. It’s fully leased, according to broker Chris Lentz. Lentz and Andy Slowik are leading…

Ex-MLB player Alex Guerrero proposes 234-unit Live Local Act tower in Miami’s Wynwood Norte

Former Los Angeles Dodgers player Alex Guerrero proposes a 234-unit Live Local Act tower in Miami’s Wynwood Norte neighborhood. AG Wyn, managed by Guerrero and Ruben Rodriguez, wants to build the 41-story project on a 0.6-acre site between Northwest Third and Fifth avenues, south of Northwest 37th Street, in Miami, according to an application filed to the city this month.

‘Wynwood Tower’ Proposed as Tallest Building in Wynwood Norte

A 41-story skyscraper titled Wynwood Tower is coming to the edge of Wynwood. The Florida-based developer, AG Wyn, is proposing the skyscraper as part of the Live Local Act, a recently enacted housing law aimed at spurring higher density housing in commercial or industrial areas. The half-acre property located at 330 NW 37th St will eventually be home to a 398.983 sf…

13th Floor, LeFrak and Related envision two-tower mixed-use project in Miami

13th Floor Investments, LeFrak Organization and Related Group want to build a mixed-use complex with 741 apartments near the Douglas Road Metrorail Station in Miami. The joint venture is seeking to redevelop a 2.3-acre shuttered car dealership at 3650 Bird Road, according to a site plan pre-application submitted to Miami-Dade County. The project, designed by Coral Gables…

Foundation Work Underway for The Residences at 1428 Brickell

Foundation work is underway for The Residences at 1428 Brickell, where recent aerial imagery reveals a fully cleared site with heavy equipment actively engaged in early-stage construction activity. Developed by Ytech and designed by ACPV Architects in collaboration with Arquitectonica and Magnusson Klemencic Associates as the structural engineer, the 70-story tower…

Demand for Doral commercial space slides, but prices keep rising

Doral’s commercial real estate scene continues to see rising prices despite the pullback in demand. “I think the year started out pretty hot in comparison to the past … 18 months,” said Conner Milford, senior vice president with Lee & Associates. “However, it’s definitely slowed down a bit here more recently.” Mr. Milford said a possible reason for this slowdown could be…

Grand Opening Held for Magnus Brickell, a 37-Story Mixed-Income Tower in Miami’s Financial District

Related Group, Miami-Dade County Housing & Community Development, and Miami-Dade County Public Schools have announced the grand opening of Magnus Brickell, a newly completed, 37-story mixed-income residential tower located at 75 Southwest 10th Street in the heart of Miami’s Financial District. The tower introduces 465 new rental residences and stands…

Transformation of One Broadway Advances in Brickell, Miami

Construction continues on the transformation of One Broadway, a 37-story tower located at 1451 South Miami Avenue in Brickell. Originally completed in 2005 as a condominium and short-term rental building, the structure is undergoing a complete redevelopment, with the potential rebranding to La Mare Hotel & Residences Brickell Miami. The redevelopment is being led…

80-story condo can replace part of First Presbyterian Church

City commissioners rejected an appeal last week to restore historic protections around First Miami Presbyterian Church as originally designated, clearing the way for partial demolition and a proposed 80-story condo tower despite strong pushback from residents. Brickell residents packed city hall on April 10 to urge commissioners to let them challenge the city’s decision…

Brickell residents lose fight against 13th Floor, Key’s 80-story condo behind Presbyterian church

Brickell residents opposing a planned 80-story condo tower behind the First Miami Presbyterian Church lost their fight. On Thursday, Miami commissioners voted 4-0 against opponents’ appeal, led by the the condo association for IconBrickell Tower II, to allow them to intervene in the city’s decision for the historic declassification of a portion of the site.

Bear Cut Bridge upgrade years away

Work to rehabilitate or replace the Bear Cut Bridge on the Rickenbacker Causeway is still a long way from beginning and will cost $60 million to $100 million, a public meeting on the project was told last week. Until after the current 30-month study is completed in 2027, no decision is expected on whether a taller bridge will be constructed. While funding for the work would primarily…

$8.1M Sale of Miami Multifamily Property Silver Cove Apartments Arranged

Built in 2021, Silver Cove Apartments is a four-story, 33,424-square-foot building at 2010 Southwest 25th Terrace. The property has gated parking and a mix of large two- and three-bedroom units, all with private balconies, contemporary finishes and in-unit washers and dryers. Positioned between Coconut Grove and Coral Way, the property is near downtown Miami…

Miami Beach changing city code to honor Norman Braman

Miami Beach elected officials have initiated plans to amend the city code in order to co-name a portion of 17th Street in honor of Norman Braman, a long-time automotive business leader whose civic involvement has impacted the city. The ordinance is to face city officials for a final vote April 23. Mr. Braman has created a legacy in South Florida, says a commission memo…

Miami Beach Convention center hotel financed to open in 2027

The development of the long-awaited Grand Hyatt Miami Beach Convention Center Hotel moves along and has a delivery slated for 2027. Terra Group, of Coconut Grove, and Turnberry Associates, in Aventura, partnered to build the 17-story, 800-room property adjacent to the Miami Beach Convention Center. The hotel at 17th Street and Convention Center Drive was approved…

Terra, Turnberry score $392M construction loan for Miami Beach convention center hotel

David Martin and Jackie Soffer’s long-planned convention center hotel in Miami Beach is moving forward. Martin’s Terra and Soffer’s Turnberry secured a $392 million construction loan from Adi Chugh’s Tyko Capital, according to sources. The developers plan to build a 17-story, 800-room hotel next to the Miami Beach Convention Center.

Terra and Turnberry Get $392M Loan for Miami Beach Hotel After 7 Years of Planning

Finally, Terra and Turnberry appear to be set to begin the groundbreaking process for their Miami Beach hotel project after years of planning. The two developers have secured $392 million in construction financing from TYKO Capital. The project, called Grand Hyatt Miami Beach, calls for 800 hotel rooms and 17 stories, with about 12 floors reserved for guests.

Terra lists Coconut Grove land leased to defunct Location Ventures

David Martin’s Terra is seeking to unload land underneath a Coconut Grove site complicated by a ground lease with Location Ventures, the defunct development firm founded by Rishi Kapoor. Coconut Grove-based Terra recently listed the 0.4-acre property at 3120-3138 Commodore Plaza with an asking price of $18.9 million, according to an offering memorandum.

Why Are New Warehouses Including Pickleball Courts And Food Halls?

Warehouse workers at the Goodman Commerce Center in California’s Inland Empire don’t have to settle for vending machine snacks or reheated meals in a break room microwave. Instead, they can step to the adjacent Cravings at Eastvale food hall, where the menu includes freshly shucked oysters and hand-rolled sushi. The food hall is part of a 200-acre mixed-use…

Construction Wraps Up on The Wynwood Plaza in Miami’s Wynwood Arts District

Construction has wrapped up on The Wynwood Plaza, a one-million-square-foot mixed-use development located at 95 NW 29th Street in Miami’s Wynwood Arts District. Designed by Gensler and developed by L&L Holding Company and Oak Row Equities, with project partner Shorenstein Properties and co-investor Claure Group, the project is a major addition to the block frontage …

Exterior Work Nears Completion on The Crosby at Miami Worldcenter

Exterior work is nearing completion on The Crosby Miami Worldcenter, a 33-story, 376-foot-tall residential tower located at 601 North Miami Avenue in Downtown Miami. Designed by CFE Architects, developed by Related Group and Merrimac Ventures and funded by Bank OZK, the project is part of the larger Miami Worldcenter master plan. The tower will deliver 450 fully…

Terra, Turnberry Receive $392M Construction Financing for Miami Beach Grand Hyatt Hotel

Terra and Turnberry have received $392 million in financing for the construction of Grand Hyatt Miami Beach, an 800-room hotel situated adjacent to the Miami Beach Convention Center. TYKO Capital, a New York City-based private equity and private credit investment management platform, provided the financing to the South Florida-based developers.  Grand Hyatt…

Construction Rises on Excel Miami at 1550 NE Miami Place in Miami’s Art’s & Entertainment District

Construction is now several stories above ground on Excel Miami, a 24-story residential tower located at 1550 NE Miami Place in Miami’s Arts & Entertainment District. Designed by Arquitectonica, with LEO A DALY serving as the architect-of-record and developed by Clearline Real Estate with Shawmut Design and Construction as the general contractor, the 275-foot-tall structure…

Blackstone unloads another South Florida property, sells office building for $21M

Blackstone continues to make its South Florida portfolio lighter, selling a Miami Lakes office building for $20.5 million. An affiliate of Blackstone, the New York-based investment giant led by Steven Schwarzman, and its subsidiary, Link Logistics, led by Luke Petherbridge, sold the 13.3-acre site at 17100 Northwest 59th Avenue to an entity managed by Ali Ahmed…

YIMBY Scopes Views of Forma Miami at 2900 Biscayne Boulevard in Edgewater

Construction is complete and leasing is underway on Forma Miami, a 39-story residential tower located at 2900 Biscayne Boulevard in the Edgewater neighborhood of Miami. Designed by Arquitectonica, with ODP Architecture & Interior Design listed as the architect of record and interiors by Rockwell Group, the tower was developed by Crescent Heights. The building rises…

Braman Motors proposes 60-story resi towers, 11-story auto building in Miami’s Edgewater

Car dealership tycoon Norman Braman’s firm proposes a pair of 60-story residential towers and an auto building, as part of a massive redevelopment of its properties in Miami’s Edgewater. Braman Motors wants to build the towers and an 11-story automotive building on a portion of its 21-parcel assemblage between Northeast 19th Terrace and Northeast 21st Street…

Jon Samuel’s Broward portfolio lightens after $22M warehouse sale

Jon Samuel, one of the original developers of Midtown Miami, is on a roll, selling another Broward commercial property in less than a week. An affiliate of NorthBridge Partners paid $22.3 million to three affiliates of Samuel’s Miami-based Midtown Group for a showroom and warehouse leased to Floor & Décor in Coral Springs, records and real estate database…

500-Foot Tower Cranes Approved For Link At Douglas

Two construction cranes were recently approved to build the third tower at the Link at Douglas complex. Approval by the FAA was issued last month for the two cranes to rise 509 feet and 471 feet above ground. The work schedule for the cranes was estimated to begin earlier this month, on April 1. Tower 3 at Link is planned to rise 39 stories, or 443 feet above sea level.

Costco proposes store near Dolphin Mall in Sweetwater

Costco proposes a store near Dolphin Mall in Sweetwater. The membership club wants to build a 159,200-square-foot warehouse store on a 20-acre site west of Northwest 119th Court, between Northwest 21st and 17th streets, according to an application Costco filed to Miami-Dade County in January. The project would include a liquor store and a detached gas station.

Construction Begins At Miami Worldcenter’s Block E

Construction is now underway at Block E at Miami Worldcenter, located on the 7th Street Promenade, according to Nichols Architects. The 3-story complex will include 63,315 square feet of space, according to a construction permit issued last month. There will be 10,745 square feet of retail and 9,543 square feet of restaurant space on level 1, the permit states. Floors 1-3 will have…

First Glass Installed At 65-Story E11EVEN Residences Beyond

The 65-story E11EVEN Residences Beyond tower in Park West has had its first glass installed, according to a photo by Joel Franco. The tower is planned to top off at 699 feet above ground, or 709 feet above sea level. It will include around 558 residential units, 7,119 square feet of bar or lounge space, and 21,611 square feet of retail. Two E11EVEN towers are under construction…

Photo: Construction At 70-Story Okan Tower

A photo shows construction at the 70-story Okan Tower this week. Last week, a filing was submitted to the Federal Aviation Administration to increase the construction crane heights at the Okan site to 1,051 feet above ground. The permanent height of the tower is planned at 902 feet, making it among the tallest buildings south of New York. Okan Tower will include a 316-key Hilton…

Lease roundup: Equinox plans to open in Fort Lauderdale, Plaza Coral Gables lands wealth manager ALTi Tiedemann Globat, other tenants

The Plaza Coral Gables’ office space is fully leased after scoring three tenants. Accounting firm Marcum leased 9,600 square feet at the office building within the mixed-use Coral Gables project, according to a news release from the landlord’s broker. Wealth manager ALTi Tiedemann Global leased 6,000 square feet, the release says. The firm will move in the coming months…

Continuum Kicks Off North Bay Village Condo Project

Continuum Co. has started construction on Continuum Club & Residences, a 198-unit waterfront condominium tower in North Bay Village, Fla. The 32-story building is being developed in partnership with Aksoy Holdings and represents Continuum Co.’s second branded project in the Miami area. KAST Construction is the general contractor, with plans to complete…

Here’s How Much it Costs to Rent an Apartment in Miami and How it Compares Nationally

Miami remains one of the most expensive rental markets in the U.S. According to a March 2025 national rent report by apartment rental site Zumper, Miami had the sixth most expensive median rental price for one-bedrooms nationwide at $2,550, trailing only San Jose, Boston, Jersey City, San Francisco, and New York City. The real estate platform also analyzed…

Mixed-use development with 116 rentals, including affordable housing, advances in Hallandale Beach

A Puerto Rico-based developer won city approvals for a mixed-use development in Hallandale Beach with 116 rentals, including 17 affordable housing units with below-market rents. The Hallandale City Commission on Wednesday unanimously approved SAG Development’s applications for a major development plan, zoning variances, and so-called…

MMG plans 308-unit apartment building with affordable housing at its Plantation shopping center

MMG Equity Partners advanced its plan to develop an eight-story apartment building adjacent to Plantation Square, a shopping center that the firm acquired four years ago. The Plantation City Council voted Wednesday to approve a land use change and rezoning of the 12.9-acre shopping center property on the southwest corner of West Sunrise Boulevard and North University Drive.

Copart expands South Florida portfolio, nabs Palm Beach County auto yard for $65M

Copart beefed up its South Florida portfolio, paying $65 million for a Palm Beach County auto yard where the company stores and sells used vehicles. An affiliate of Copart, a publicly traded firm based in Dallas that specializes in reselling repossessed and salvaged cars and trucks, acquired a 40.3-acre industrial site at 7876 West Belvedere Boulevard and 801 Pike Road near West Palm Beach…

Construction Continues on ‘Esprit at Avenir’ at 14044 Dauphine Court in Palm Beach Gardens

Construction has started on Esprit at Avenir, a luxury housing development for seniors 55+ in Palm Beach Gardens. The gated community will host an array of three to six-bedroom homes, with the option to customize certain features, including various design elements. The residences themselves boast a contemporary design, offering high ceilings, natural lighting…

‘Northlake Promenade Apartments’ Planned for 2027 Completion at 374 Northlake Blvd in North Palm Beach

Construction has commenced on Northlake Promenade Apartments, a multi-family housing development in Palm Beach County. Led by AvalonBay Communities, the seven-story venture will offer 279 units. Of those units, 20 will be studios, 133 will be one-bedroom layouts, 102 will be two-bedroom layouts, and the remaining 24 will be three-bedroom residences.

Alba Palm Beach Tops Off in West Palm Beach, Completion Expected in Early 2026

Construction has topped off on Alba Palm Beach, a 22-story luxury waterfront condominium development located directly on the Intracoastal Waterway at 4714 North Flagler Drive in West Palm Beach’s Northwood neighborhood. Developed by BGI Companies in partnership with Blue Road and designed by Spina O’Rourke + Partners, the project will yield a boutique…

Return-to-Office Mandates Start to Clock In

Office traffic nationally remains well behind the pace of the pre-pandemic level but it is showing steady improvement. Visits in March came in 32.2 percent below March 2019 levels. However, a recent report from Placer.ai said that although numbers declined in January and February, last month’s data reveals that new return-to-office mandates could have had an impact.

Most Apartment Markets Nationally Still Below Pre-Pandemic Occupancy

While occupancy has firmed up considerably over the last year amid strong demand nationally, most major markets still posted occupancy rates below that of their pre-pandemic long-term norms as of 1st quarter 2025. The U.S. recorded 1st quarter occupancy of 95%, according to data from RealPage Market Analytics. That rate ran slightly below the pre-COVID five-year average…

Brickell’s Mandarin Oriental Closing Soon To Make Way For 850-Foot Tower

Brickell’s Mandarin Oriental hotel will close next month to make way for two new towers, according to the SFBJ. The closing date is May 31, according to an employment notice filed with the State of Florida. Two new towers are planned to be built on the property, following demolition of the existing hotel. One tower will rise 66 stories, or 850 feet, while the second tower…

City National Bank of Florida Signs Record Miami Lease

Completed in 2008, the Coral Gables office building rises 15 stories at 2701 S. Le Jeune Road. Image courtesy of CommercialEdge City National Bank of Florida is consolidating its growing Miami-Dade County workforce at 2701 S. Le Jeune Road, a 15-story office building in Coral Gables, Fla. The state’s second-largest bank will occupy 144,878 square feet at the property…

City National Bank of Florida opening new HQ in Coral Gables, marking year’s biggest office lease

City National Bank of Florida will open a new 145,000-square-foot headquarters in Coral Gables, marking the biggest office lease in South Florida so far this year. The bank leased at 2701 South Le Jeune Road, a 16-story building owned by Spanish billionaire Amancio Ortega’s investment firm Ponte Gadea, according to the tenant’s news release. More than 800 employees…

Three Office Leases Brokered to Bring Plaza Coral Gables in South Florida to Full Occupancy

A broker has negotiated three office leases at The Plaza Coral Gables, a mixed-use development in the Miami suburb of Coral Gables that includes two Class A office towers exceeding 450,000 square feet. The latest round of leases brings the property’s office component to full occupancy. These deals include Baycrest Partners (1,800 square feet), ALTI (6,000 square feet) and…

Rent reprieve: Miami rates drop nearly 8% y-o-y, amid supply overhang

After leading the nation in apartment rent hikes in recent years, South Florida is getting a reprieve. In Miami, monthly rents for two-bedroom units averaged at $3,350 in March, down 7.7 percent, year-over-year, according to a Zumper report. One-bedroom units averaged $2,550, or a 5.9 percent drop compared to March of last year.

Adam Neumann lands $155M loan for Miami Flow House condos

Adam Neumann scored a $155 million loan for his under-construction Flow House condos in downtown Miami. Invictus Real Estate Partners and Integritas Capital, both based in New York, are providing the $155 million construction and inventory loan to Neumann’s Flow, according to a press release. The WeWork founder is planning the 40-story, 466-unit Flow…

Views of Residential Towers Along Biscayne Boulevard Across from Museum Park in Downtown Miami

Aerial views of the stretch along Biscayne Boulevard between Northeast 8th Street and Northeast 11th Terrace highlights a striking collection of high-rise residential towers directly across from Museum Park in Downtown Miami, each reflecting varied architectural approaches and development timelines. The buildings include Marina Blue, 900 Biscayne Bay…

Vertical Construction Underway At 38-Story Luxury Edgewater Tower

In Edgewater, a 38-story luxury apartment tower is now going vertical. Apartment operator Aimco is partnering with a leading global investment firm on the development, and will have a 44% ownership stake. The new $240m tower will have just 114 luxury apartments, with 291,000 rentable square feet. That equates to an average apartment size of over 2,500 square feet.

47-Story House Of Wellness In Brickell Submitted To FAA For Review

A proposal for a 47-story Brickell tower called House Of Wellness have been submitted to the Federal Aviation Administration for review. The agency received the application on April 7. The tower is proposed to rise 467 feet above ground, or 477 feet above sea level, according to the filing. A construction crane is estimated to be installed in January 2026. It is proposed to rise 530 feet…

Brickell’s 67-Story Mercedes Benz Places Rises Above Ground Level (Photo)

The 67-Story Mercedes-Benz Places in Brickell is now rising above ground level. The development will include two towers, with 800 apartments. There will also be 130,000 square feet of amenity and hospitality space, 250,000 square feet of office space, a 174-key hotel, a fire station, and over 800 parking spaces. Occupancy is estimated to be in 2027.

Here’s How Many Ride Tri-Rail’s New Express Train To Downtown Miami

Tri-Rail has released ridership information for its new one seat ride into downtown Miami. The service launched in July 2024, with a weekday southbound morning train and a northbound evening train. Passengers can remain on the same train out of downtown Miami, with limited stops on the ride to West Palm Beach. Ridership on the express service is now…

Residential tower enters deal to sell county courthouse

The sole bidder to acquire the historic Miami-Dade County Courthouse downtown is proposing to build a residential tower on the north side of the parcel including condominiums and apartments, though the county has not yet struck a deal to sell him the land. GFO Investments, led by local developer Russell Galbut, issued a press release last week sketching plans to turn…

Miami Office Leasing Surges in Q1 with Smaller Spaces Leading Demand

Activity is off to a hot start in Miami’s office sector this year as tenants look for smaller spaces in the post-pandemic world. A first-quarter report from Avison Young shows that one million square feet of leases were signed, up 26.5 percent from the same three-month period a year ago. Leasing activity rebounded in the first quarter of 2025 “after a sluggish 2024,” Avison Young noted.

Russell Galbut makes another play for historic Miami-Dade courthouse

For the second time in eight years, Russell Galbut is seeking to make a deal with Miami-Dade County for control of the historic Flagler Street courthouse, among the most iconic buildings in downtown Miami. This time around, Galbut is showing confidence he will come out on top. Recently, Miami-based GFO Investments, a development firm led by Galbut and his daughter…

World Trade Center sees Miami well positioned in tariff war

As the global market scrambles to adjust to effects of sweeping tariffs imposed by the Trump administration, Miami is in a unique position to mitigate and withstand the effects, owing to its long-standing reputation and experience as a global trading hub, one observer says. Alice Ancona, chief operating officer of the World Trade Center Miami, says Miami, with its long history…

First Crane Installed At 56-Story Construction Site In Edgewater

The 56-story Villa Miami Residences now has its first construction crane in place. Villa is planned as an ultra-luxury, cooper-clad tower that will top off at 650 feet. It will have just 70 condo units. Residents will have access to a 3-story amenity space called The Copper Club. There will also be a rooftop helipad, and a waterfront restaurant. Groundbreaking took place in December.

Report: Glass Tower Planned Next To Historic Miami-Dade Courthouse

A developer is planning a mixed-use tower next to the historic Miami-Dade Courthouse, according to Commercial Observer. The 1928 courthouse building would be renovated and restored, with the space converted to be used for housing, office, retail and hospitality. A rendering shows the new tower next to the historic building would have a glassy façade.

Utilities Deal Completed For 800 Residential Units at Earlington Heights Metrorail Station

A developer completed a deal with Miami Dade’s Water & Sewer Department to service a large new  residential complex planned at the Earlington Heights Metrorail station. The developer is Developer Earlington Metro, LLC. According to the agreement, a total of 856 new apartments will be built, along with 36,724 square feet of retail. The development has been…

560 Apartments Reach Completion Near Metrorail Station

The first phase of the Metro Center transit-oriented development in Hialeah has obtained a TCO, according to Modis Architects. Metro Parc is being built a short walk away from the Metrorail and Tri-Rail Transfer Station. The newly completed apartment building has 559 apartments. In February, developer Baron Property Group broke ground on Metro Parc North next door…

Data Center Developer Acquires 4.05 Acres Of Developable Land In Miami’s Airport West Submarket

Metrobloks plans to develop a 15.2 MW state-of-the-art data center facility at the site, which is strategically located at the intersection of NW 6th Street and 137th Avenue. The new AI-ready, multi-tenant facility is designed to meet high-density computing demands and is scheduled to commence operations by the end of 2026. “In Miami-Dade’s competitive industrial market, securing a prime…”

Metrobloks Buys Land in Miami, Plans to Develop New AI-Ready Data Center

Los Angeles-based Metrobloks has purchased four acres at 500 N.W. 137th Ave. in Miami’s Airport West submarket. The firm plans to develop a 15.2-megawatt data center at the site, which is situated at the intersection of Northwest 6th Street and 137th Avenue. Matthew Bittel and Stuart Gordon of Cushman & Wakefield represented Metrobloks in the land sale.

Holy war: Brickell residents crusade against 13th Floor and Key’s planned 80-story tower behind Presbyterian church

For some Brickell residents, a planned 80-story condo tower behind First Miami Presbyterian Church is far from a blessing. Since at least 2021, Arnaud Karsenti’s 13th Floor Investments and the Ardid family’s Key International have wanted to develop the project on a site immediately east of the church at 609 Brickell Avenue. The site now consists of a parking lot…

Masaveu expands West Brickell dev site by acquiring adjacent commercial building for $16M

Masaveu Real Estate US beefed up a West Brickell development site after purchasing an adjacent property for $15.5 million. An affiliate of Masaveu, the American arm of Spanish conglomerate Corporacion Masaveu, led by Chairman Fernando Masaveu Herrero, acquired a 0.3-acre parcel with a three-story commercial building at 268 Southwest Eighth Street in Miami…

57-Story Edge House Miami Breaks Ground at 1837 NE 4th Avenue in Edgewater

Grupo T&C has officially broken ground on Edge House Miami, a 57-story residential building located at 1837 NE 4th Avenue in the Edgewater neighborhood of Miami. Designed by Kobi Karp Architecture & Interior Design, with interiors by Adriana Hoyos Design Studio and landscape architecture by Witkin Hults + Partners, the tower will rise 637 feet and yield…

Report: Messi Buying Condos At 80-Story Brickell Tower

Lionel Messi is buying four condo units at the Cipriani Residences tower that is under construction in Brickell, according to the WSJ. One of the units is said to be valued at $7.5M. The value of the other three units is not known. The Cipriani tower is planned to reach a near-supertall height of 940 feet above ground, and 950 feet feet above sea level, which is taller than…

Demolition Progresses at One Bayfront Plaza Site in Downtown Miami

Demolition work continues at 100 South Biscayne Boulevard, the former site of the 19-story One Bayfront Plaza tower in Downtown Miami. The clearing of the steel-framed office building marks the first significant step toward developing a long-anticipated supertall skyscraper on the prominent waterfront parcel, a project led by Florida East Coast Realty (FECR). According to permits…

Exterior Work Nears Completion on 37-story District 225 in Downtown Miami

Exterior work is nearing completion at District 225, a 37-story residential tower at 225 North Miami Avenue in Downtown Miami. Designed by Sieger Suarez Architects, with interiors by Meshberg Group, and developed by Related Group in partnership with ROVR Development and BH Group, the 394-foot-tall tower is approaching the final construction phases ahead of its anticipated…

288-Condo ‘Midtown Park Residences by Proper’ Planned for 2028 Completion at 2901 NE 1st Ave in Miami

The first phase of a transformative $2 billion mixed-use development has been announced in Miami-Dade County. Midtown Park Residences by Proper will be the first of six buildings (four residential towers, two office buildings), occupying a five-acre site that was previously slated to host a Walmart. The 28-story branded tower will feature 288 condos…

Proper Hospitality Unveils Plans for Miami Condo Tower

Proper Hospitality, Rosso Development and Midtown Development are planning to develop Midtown Park Residences by Proper, a luxury condominium tower in downtown Miami. The project will rise 28 stories and will include 288 residences and penthouses. Completion is scheduled for 2028. The project is Proper Hospitality’s second residential development after Austin…

Cipriani Reaches Level 9, Using Self-Climbing ‘Slip Form’ System

Brickell’s under-construction Cipriani Residences Tower has reached its first residential level, and will be using a new self-climbing system moving forward. The milestone means that Cipriani is on schedule with construction, with contractors recently working on levels 7 and 8, the first amenity and residential floors. Beginning at level 9 until top off, contractor Moss Construction…

Commission To Vote On Funding For Edgewater Baywalk Extension

The baywalk in the Edgewater neighborhood currently only exists in small fragments, but a small extension could soon become a reality. Miami commissioners are scheduled to vote next week on possible funding for the extension, which is known as Edgewater – Phase 1 Project. The new baywalk would be built behind a 10-story building dating to 1980. The extension would…

Photos: Color-Changing Lighting System At New 62-Story Aria Reserve

Edgewater’s new 62-story Aria Reserve south tower turned on its new lighting system recently, altering the Miami skyline. The s-shaped lighting system changes colors, and extends to both the western and eastern facades of the building. Aria Reserve will include two 62-story, 649-foot towers, said to be the tallest waterfront dual residential towers in the United States.

32-Story Continuum Club & Residences Breaks Ground In North Bay Village

Developers have broken groundon Continuum Club & Residences, a 32-story residential tower at 1755 John F. Kennedy Causeway in North Bay Village. Developed by the Continuum Company in partnership with Aksoy Holdings, the 340-foot-tall building is set to deliver 198 condominium residences and penthouses with waterfront views of Biscayne Bay and the Atlantic Ocean.

Studio Three gym leases at Doronin, Cain’s 830 Brickell tower

Studio Three will open a gym at the 830 Brickell tower in Miami. The fitness studio leased 5,800 square feet at the 57-story office tower developed by Cain International and Vlad Doronin’s OKO Group, according to a news release from the landlords’ broker. Studio Three will open in the first quarter of next year in 800 square feet on the ground floor and 5,000 square feet…

Lease roundup: Crypto exchange Gemini opening Wynwood office, Amal restaurant on tap in Fort Lauderdale

Cryptocurrency exchange platform Gemini will open its first South Florida office in Miami’s Wynwood. The New York-based firm leased 8,800 square feet at the 545Wyn building at 545 Northwest 26th Street, according to a news release from the landlord’s broker. Gemini is expected to move in by May. Juan Ruiz and Andres del Corral of Blanca Commercial Real Estate…

700 condo buildings in South Florida on secret mortgage blacklist

The number of South Florida condo buildings on a Fannie Mae blacklist has more than doubled in the past two years, as the financial strain on condo associations worsens. Nearly 700 condo communities in Miami-Dade, Broward and Palm Beach counties are on the list, marking almost half of the 1,438 buildings that the federally chartered mortgage finance corporation lists…

Photo: Eataly Opening Soon At Aventura Mall

Aventura Mall’s new Eataly will be opening in spring 2025, according to signage in the mall. The new Eataly Aventura will include around 30,000 square feet, spread over two levels. It will include two restaurants, a grocery market, and an educational area. Eataly also recently announced plans to build a new location in West Palm Beach.

Construction Starts on ‘Wesley at Fillmore’ at 2236 Pierce Street in Hollywood

Florida YIMBY has an update regarding a multi-family housing development we shared more than two years ago. In 2022, county officials approved Wesley at Fillmore, a low-rise apartment complex in Hollywood. Construction has now officially begun, thanks to the acquisition of a $13.7 million loan from National Bank of Florida. Upon completion, the four-story endeavor…

Welltower buys assisted living complex in Davie for $34M

Welltower bought a 220-bed assisted and independent living complex in Davie for $34.3 million, marking continued investment in South Florida senior care facilities. Royal Senior Care and MG3 Group sold Oakmonte Village of Davie at 8201 Stirling Road to Welltower, a publicly traded real estate investment trust, according to records and real estate database Vizzda.

Midtown Miami developer Jon Samuel sells Sunrise retail plaza for $30M

Jon Samuel, one of the original developers of Midtown Miami, sold a retail plaza in Sunrise for $30 million. New York-based SK Realty Management, led by principals Sam Kirschenbaum and Benjamin Rubin, bought Sawgrass Landing, a fully-leased shopping center spanning 64,510 square feet at 13713, 13775, and 13999 West Sunrise Boulevard, Lena Zubkova…

Related, Pebb and BH plan Live Local project along Fort Lauderdale waterfront

Another Live Local Act project involving Related Group is in the works along Fort Lauderdale’s waterfront. Coconut Grove-based Related, led by Jorge, Jon Paul and Nicholas Pérez, is partnering with Aventura-based BH Group, led by Liat and Isaac Toledano, and Boca Raton-based Pebb Enterprises, led by Ian Weiner, on the planned redevelopment of The Quay at 17th Street…

Developers Seek Rezoning Change for Eight-Story Community at 2410 North Australian Avenue in West Palm Beach

The VDG Land Co. LLC has plans to construct a development that would offer workforce housing for the employees of the nearby Breakers Palm Beach resort. The venture would occupy a 2.46-acre lot, about half of which is still owned by the city. VDG Land Co. LLC owns the remaining 1.3 acres. The proposed build site is mostly vacant. Plans currently call for an eight-story…

Steve Ross commits $50M to Vanderbilt’s West Palm Beach campus

Steve Ross committed a $50 million donation to Vanderbilt University for its planned West Palm Beach graduate school campus, an expansion the billionaire developer has championed since its inception. Including his donation, the school has raised a total of $77 million toward its $300 million fundraising goal for the project, a spokesperson confirmed. Ross isn’t the only…

Vlad Doronin’s OKO and Cain propose three-building Palm Beach condo complex

OKO Group and Cain International are proposing a three-building condo complex in Palm Beach, the island’s first new condo proposal in nearly 20 years. The development would involve demolishing two existing condo buildings, the Ambassador Palm Beach Hotel & Residences at 2730 South Ocean Boulevard, and Edgewater at 2720 South Ocean Boulevard.

Receiver for firm accused of $40M fraud plans sale of South Florida resi, office properties

The receiver for an embattled West Palm Beach firm accused of a massive real estate and securities fraud plans to sell six of its residential properties and several office condos in South Florida. Married couple Janalie Bingham and Jean Joseph, as well as Wells Real Estate Investment, which Bingham led as CEO, allegedly siphoned off more than $40 million they raised…

Video: LeaseLock’s Greg Willett, Andrew Bowen Discuss Multifamily Performance & Transaction Volume

Multifamily Market Insights: Navigating 2025 with Optimism and Strategy On a recent episode of America’s Commercial Real Estate Show, the host welcomed Greg Willett, Chief Economist, and Andrew Bowen, SVP of Strategic Partnerships—both from LeaseLock—to unpack the state of the multifamily market. Their in-depth discussion illuminated the current challenges…

Survey Reveals How Contractors Are Bracing for What’s Next

It feels like déjà vu for real estate developers—reminiscent of 2020, or even the uncertainty of 2008. The typically stable world of commercial real estate has been completely upended, and we’re now grappling with a host of complex and impactful variables: Tariffs driving up hard costs; The possibility of a recession, potentially lowering interest rates…

Grant Cardone raises $88M for crypto and multifamily deals; plays coy about California governor run

Grant Cardone raised $88.1 million in recent months for a fund that bought $15 million in Bitcoin and paid $73 million for a Central Florida apartment project. At the same time, the crowdfunding multifamily syndicator has toyed with the notion of running for governor of California, where Cardone owns a beachfront home in Malibu damaged during the devastating…

Future-Proofing Buildings: The Impact of Amazon Key on Multifamily Living

Amazon has redefined convenience in shopping, but for residents in multifamily properties, receiving packages can be a challenge due to traditional methods of access. Amazon Key provides streamlined, verified access, transforming the landscape for property developers and managers by ensuring fast and convenient delivery to multifamily properties. We uncover the transformative…

Real GDP growth by state: Fourth quarter 2024

On March 28, 2025, the Bureau of Economic Analysis released real GDP data for all US states for the fourth quarter of 2024. The FRED map above shows the year-over-year growth rates: Red denotes contraction, light green denotes some growth, and dark green denotes faster growth. Highlights 48 of 50 state economies expanded in 2024, with a national average of 2.8% growth.

Miami-Dade County Commission Approves $3B Little River District Mixed-Use Development 

The Miami-Dade County Commission has granted final approval for Little River District, a $3 billion mixed-use development in Miami’s Little River and Little Haiti neighborhoods. SG Holdings, a joint venture between Swerdlow Group, SJM Partners and Alben Duffie, is the developer. Spanning 63 acres, the project is slated to include more than 5,700 affordable…

Miami-Dade approves Swerdlow, Related Urban ground leases for nearly 6K affordable and workforce apartments

Two developers’ deals to build apartment projects on county-owned land breezed through approvals, with plans for a total of nearly 6,000 units. On Tuesday, in separate actions, the Miami-Dade County Commission voted unanimously and without discussion to approve 99-year ground leases with a Michael Swerdlow-led joint venture and with Related Urban, the affordable…

$3B Mixed-Use Little River District Approved: New Details

The Miami-Dade County Commission voted unanimously yesterday to approve SG Holdings’ 63-acre Little River District, and new details of the development have been released. It will be the largest affordable housing development in Miami-Dade County’s history, with 5,700 affordable and workforce housing units. SG Holdings, a joint venture comprised of Swerdlow Group…

600 Miami Worldcenter’s Ascent to 32 Stories Accelerates in Downtown Miami

Vertical construction is accelerating on 600 Miami Worldcenter, a 32-story residential high-rise at 600 NE 1st Avenue and 55 NE 6th Street in Downtown Miami. The tower is part of the expansive 27-acre Miami Worldcenter master plan and is being developed by Aria Development Group in partnership with Merrimac Ventures. Designed by Revuelta Architecture International…

$2B Mixed-Use Development Announced In Midtown Miami

Plans to develop a vacant site in Midtown Miami have been announced, including a tower by Proper Hospitality. The new $2 billion mixed-use development will be set on 5 acres where Walmart once planned a store that was never completed. It will include lush open areas, including two public parks and pedestrian paseos, connecting Midtown to the Design District and Wynwood.

Carlos Rosso and partners plan major mixed-use development on former Walmart site in Midtown Miami

Development of a long-vacant plot of land in Midtown Miami, where a controversial Walmart was once planned, is moving forward. Proper Hospitality is teaming with Carlos Rosso’s Rosso Development and Alex Vadia’s Midtown Development to launch sales of phase one, a 28-story, 288-unit branded condo tower. The building, called Midtown Park Residences by Proper…

Miami Beach’s Kimpton Surfcomber Hotel engulfed in messy ground lease dispute

A convoluted legal fight is brewing over a portion of the land underneath the Kimpton Surfcomber Hotel at 1717 Collins Avenue in Miami Beach. Sean and Nicole Mirmelli, as trustees for the Deirdre Mirmelli Irrevocable Trust, sued Chisholm Properties South Beach last week in Miami-Dade Circuit Court over alleged violations of a 99-year-ground lease for one of two parcels beneath the three-story…

Park West Tower Gets $215M Construction Financing, 99% Sold

West Eleventh Residences is now 99% sold and has secured $215 million in construction financing. Completion is planned for Q1 2028. A groundbreaking ceremony took place in September 2024. The tower will rise 44 stories, with 659 residential condos allowing flexible rentals. It will also have a three-level “experiential” entertainment venue. A glass floor pool is being built…

Santander Tower Submitted To FAA, Nearly Matching 70-Story Four Seasons Height

The proposed heights of the office tower planned by Banco Santander in Brickell have been filed with the FAA. Santander’s tower will be close in height to the 70-story, 789-foot Four Seasons tower, which is currently the tallest on Brickell Avenue and the third tallest in Miami. A lightning rod at the new Santander tower is planned to reach 784 feet above ground, or 791 feet…

Brickell in line for its own circulator transit system

After picking up over 23,000 riders in its first 16 months, the Freebee Downtown Circulator is gearing up to expand into Brickell this year, fueled by new state funding. The free service, a partnership between the Miami Downtown Development Authority (DDA) and Freebee, offers eco-friendly transit through Miami’s bustling urban core. The loop connects key destinations…

Debated Kendall Parkway advances in planning

Due to construction cost increases over the past four years, the Greater Miami Expressway Agency (GMX) is now analyzing project costs and updating the price estimates for a Kendall Parkway Expressway extension that has been heatedly debated for years. The agency’s board recently awarded contracts for geotechnical exploration and contamination assessments along the…

Signature Bridge, double-deck highway roadbed advance

A set of towering arches now cast shadows in downtown Miami, part of the support structures for a new Signature Bridge, a key component of the I-395/SR 836/I-95 Design-Build Project. The sprawling $818 million project is the product of a partnership between the Florida Department of Transportation (FDOT) and the Greater Miami Expressway Agency and its contractor…

Wynwood residential rental project Evolve Wynwood 35 moves ahead

A low-profile eight-story residential rental project called Evolve Wynwood 35 is planned for property at 535 NW 35th St. to be home to 141 dwellings, an amenity deck, a partially covered pedestrian walkway and a ground-floor café. MPW Holdings II LLC is the owner-developer of six parcels at 535, 543, 553, 579, 583, and 585 NW 35th St., in the Wynwood Norte Neighborhood…

Miami Multifamily Report – February 2025

South Florida’s multifamily market closed 2024 with a measured pace of growth. The average advertised asking rent was down 0.2 percent on a trailing three-month basis, to $2,477, mirroring the national trend. The metro’s average overall occupancy rate in stabilized properties was down 10 basis points year-over-year, to 95.3 percent. However, the Lifestyle figure saw a 10-basis…

Vertical Construction Underway on 58-Story Downtown 6th In Miami

Vertical construction is now underway on Melo Group’s Downtown 6th, a 58-story residential tower rising at 46 NE 6th Street in Downtown Miami. Designed by Melo Architecture and G3AEC with De Los Reyes Engineering Inc as the structural engineer, the tower will top out at 574 feet above ground, or 587 feet above sea level, yielding 824 residential apartments, 2,247 square feet…

Site Work, Phased Vertical Permits Submitted For 765-Foot Santander Tower

Site work and phased vertical permits have been applied for at Brickell’s Santander Tower site. Santander Bank is building a 41-story, 765-foot tower on the property. Demolition of an older building on the site is currently underway. The two new permit applications were both submitted on March 19. The site work permit is for an estimated $3 million worth of work, with Coastal…

‘Curvaceous Striking’ 32-Story Glass Tower Breaks Ground in North Bay Village

Continuum Company has broken ground on a 32-story condo tower in North Bay Village called Continuum Club & Residences. The tower is described as being curvaceous and striking, with a design by Arquitectonica. 48% of residences planned in the tower were already sold before yesterday’s groundbreaking. A total of 198 residences and penthouses are planned, ranging…

In a crowd of Miami contenders, Shore Club is it

A crop of ultra-luxury developments are underway in Miami. But only a few have the right combination of magnetism, potential for success and likelihood of being completed in a timely manner. At the top of the heap is Shore Club Private Collection, an Auberge-branded project under construction in Miami Beach. Witkoff, led by Alex Witkoff, and Ted Koenig’s Monroe Capital…

JEM Miami Worldcenter Gets Approval For 800 Foot Cranes (Photo)

Several very tall construction cranes have been approved for the site where the 67-story JEM Private Residences is being built at Miami Worldcenter. Developer Naftali Group is building 786 residential units, of which 259 will be condos. Condo owners will have a separate entrance from the remainder of the residential units. The Federal Aviation Administration issued…

Corebridge Buys Miami Warehouse from Longpoint for $44M

The cross-dock facility was at full occupancy at the time of the sale. Image courtesy of CBRE Corebridge Real Estate Investors has acquired a 211,471-square-foot industrial asset in Miami for $43.5 million. Longpoint Partners sold the building, while CBRE brokered the transaction on its behalf. Longpoint acquired the asset in 2019 from Prologis, for $25 million, according to…

$43.5M Sale of Warehouse in North Miami Brokered

CBRE has arranged the sale of Sunshine State Industrial, a 211,471-square-foot, multi-tenant warehouse located at 1400 N.W. 159th St. in Miami. Corebridge Real Estate Investors purchased the property for $43.5 million. José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento of CBRE represented the seller, Boston-based…

Following South Florida buying binge, Longpoint sheds Miami-Dade warehouse for $44M

Following a busy South Florida two-year buying binge, Longpoint shed a warehouse near Miami Gardens for $43.5 million. An affiliate of Boston-based Longpoint, led by founding partner Dwight Angelini, sold a nearly fully-leased 221,471-square-foot warehouse at 1400 Northwest 169th Street in unincorporated northwest Miami-Dade. The buyer is New York-based Corebridge…

Hedge fund, private equity firm among new tenants in Brickell office tower

The owner of the 701 Brickell office tower signed four leases, with three tenants new to market and the other an expansion. Brian Gale and Edward Quinon of Cushman & Wakefield represented landlord Morning Calm Management in the four leases for a combined 40,000 square feet at 701 Brickell Ave. Core Scientific leased 11,000 square feet as a new tenant. The Austin, Texas-based…

Category Five bulks up multifamily portfolio with $47M purchase near Miami Shores

Category Five Real Estate added a pair of garden-style apartment complexes to the firm’s burgeoning South Florida portfolio of older multifamily properties… In separate deals, the Aventura-based firm paid $18 million for Blue Lake Apartments at 1205 Northwest 103rd Lane, and $29 million for Lake Shore Presidential Apartments at 1260 Northwest 95th Street, Category Five…

Construction Continues On E11EVEN-Branded Towers in Downtown Miami’s Park West Neighborhood

Construction is progressing on E11EVEN® Club Hotel & Residences and E11EVEN® Club Residences Beyond, a pair of 64-story towers at 20 and 90 NE 11th Street in Downtown Miami’s Park West neighborhood. Designed by Sieger Suarez Architects with CHM Structural Engineering, LLC as the structural engineer and interiors by AvroKO and developed by Property Markets…

PMG, partners score $215M construction loan for Miami condo tower near E11even

PMG, Lion Development Group and Marc Roberts Companies landed a $215 million construction loan for their planned condo tower, 38 West Eleventh Residences Miami. Steven Tananbaum’s New York City-based GoldenTree Asset Management is providing the loan, according to a press release. The 44-story, 659-unit short-term rental-friendly condo tower is one…

Groundbreaking Ceremony Held For 57-Story Edge House Miami

In Edgewater, the 57-story Edge House tower is now officially under construction. Developer Grupo T&C held a groundbreaking ceremony on March 27 in Edgewater to mark the start of work. Edge House is being designed by Miami architect Kobi Karp, with interiors by Adriana Hoyos Design Studio. It will include 608 residential condo units, that will be delivered fully finished…

Groundbreaking Expected Next Year For 5,700 Unit Little River Project With New Tri-Rail Station

Groundbreaking “should come next year” for a massive project in Little River, its developer told the Herald last week. The development is up for a vote before the full Miami-Dade commission tomorrow. The plans include a new Tri-Rail station, which will be financed through the creation of a new taxing district encompassing the development area. Other infrastructure improvements…

$350M Riverside Wharf To Have Nightclub Zoned For Alcohol Until 5AM

New details of downtown Miami’s Riverside Wharf have been revealed by its developer, according to NBC6. Groundbreaking is planned for summer 2025, with completion in 2027. The complex will have a two-level nightclub, with zoning allowing it to serve alcohol until 5 AM. There will also be a dayclub, multiple restaurants, and event and meeting spaces.

This mega complex will replace what used to be The Wharf Miami

The Wharf Miami was all the rage when opened in 2017. What was supposed to be a pop-up space became a fixture on the Miami River. It invigorated the commercial area, but in 2023, the space closed. Despite the shutdown, the owners of the venue, Breakwater Hospitality, knew more was possible. They hope their new plan will stick and reshape the landscape of the Miami River.

Multiplan lands $30M construction loan for oceanfront Surfside condos

Multiplan Real Estate Asset Management landed a $30 million construction loan for its planned oceanfront condos in Surfside. Records show Coral Gables-based Bradesco Bank is supplying the financing for Multiplan’s 12-story, 25-unit Ocean House project. The loan allows for borrowing up to $60 million, property records show. Multiplan, led by Brazilian billionaire…

Construction Progress Advances on The Standard Residences, Brickell and LOFTY Brickell

Construction is progressing on The Standard Residences, Brickell and LOFTY Brickell, a pair of high-rise residential towers rising side by side along the Miami River in the heart of Brickell. Both designed by Arquitectonica, the 45-story Standard tower will yield 422 residences and is being developed by Newgard Development Group in partnership with Two Roads Development…

Exterior Work Nearing Completion At The Standard Residences Midtown Miami

Exterior work is nearing completion on The Standard Residences Midtown Miami, a 12-story residential building underway at 3100 Northeast 1st Avenue in Miami’s Midtown neighborhood. Designed by Arquitectonica with interiors by Urban Robot Associates and developed by Rosso Development, Midtown Development, and Standard International, the project…

Finishing Touches Underway for Modera Riverside at 300 SW 2nd Avenue in Downtown Miami

Finishing touches are underway at Modera Riverside, a 36-story residential tower developed by Mill Creek Residential and Adler Development in Downtown Miami. Located at 300 Southwest 2nd Avenue, the project rises east of the Miami River, between the riverwalk and the intersection of SW 2nd Avenue and SW 3rd Street. The tower, designed by Nichols Architects…

YIMBY Scopes Aerial Views of Nearly Complete 54-Story Tower, First Phase of Miami River Mega-Project in Brickell

Nearing completion along the Miami River in Brickell is the first phase of The River District (also known as Miami River), a 4-million-square-foot master-planned mixed-use development by New York-based Chetrit Group. This initial phase features a 54-story residential tower, located at 275 SW 6th Street and 501 W 3rd Avenue, designed by Kobi Karp Architecture…

First Crane Installed To Build Ultra-Luxury Apartment Tower In Edgewater

A construction crane is being installed today at the Edgewater site where an ultra-luxury apartment tower is being built. The 38-story tower will have just 114 apartments, with 291,000 rentable square feet, according to a presentation to investors last year by developer Aimco. The expected direct costs for the tower is listed at $240m in the presentation, which equates to over $2m per apartment.

Miami-Dade Second Fastest Growing County In The Nation Last Year

Miami-Dade was the second fastest growing county in the U.S. last year, according to an analysis of census data by the Miami Association of Realtors. The study looked at the year beginning July 1, 2023 and ending July 1, 2024. Miami-Dade County’s net population increase during the period was 64,211, or 2.3%. That is much faster than the national population growth rate of 1%.

Photo: Major Renovation Underway At Miami Worldcenter Metromover Station

Renovation is underway at the Miami Worldcenter Metrmover station . Earlier this month, county commissioners adopted a resolution renaming it from the Park West Metromover Station to the Miami Worldcenter Metromover Station. In January, the station closed for a renovation expected to last up to six months. Major upgrades are planned, with enhancements including…

Photos: World Square Opens At Miami Worldcenter

World Square recently opened to the public at Miami Worldcenter. The 20,000-square-foot outdoor space is meant to complement Miami Worldcenter’s surrounding retail streets. According to Worlecenter’s developers, it is designed to be a central gathering place, with open space and oversized, pedestrian-friendly sidewalks lined with dining, entertainment, and retail.

Developer Gets Financing For 85-Unit Multifamily in The Roads, Groundbreaking April

In The Roads, a Class A multifamily building is about to begin construction, with a construction loan now secured. Empira Group said it secured $32 million in construction financing for the eight-story development, known as ENSO. Groundbreaking For ENSO is now planned for April, with delivery in 2027. Enso will include 85 units, ranging from one to three bedrooms.

Brickell Property Could Be Added To Rapid Transit Zone

A corner Brickell property could be added to Miami-Dade’s Rapid Transit Zone. The property is located in one of the fastest growing and most densely developed areas in Miami. It is next to Mary Brickell Village and a 20-story, 252-room CitizenM hotel that recently opened. County commissioners are scheduled to vote on the potential addition at an April 1 meeting.

1600 Edgewater Unanimously Approved By UDRB

Miami’s Urban Development Review Board voted unanimously last week to recommend approval of the 1600 Edgewater development. The board recommendation approval came with conditions, including: Elevate the design of the main entry, making it more prominent to pedestrians. Screen the Parking Structure to conceal its internal elements from the exterior.

Yakol to launch sales of Shigeru Ban condos in Miami’s Upper Buena Vista

Yakol Capital Partners is moving forward with plans for a Shigeru Ban-designed condo development in Miami’s Upper Buena Vista neighborhood. Miami-based Yakol, led by William Jacome and Orlando Medellin, tapped Fredrik Eklund of Douglas Elliman’s Eklund-Gomes Team to launch sales later this year of the 12-story, 320-unit development planned…

Miami-Dade commissioners giving away land to favored groups

If Abraham Lincoln had the Homestead Act — the 1862 measure that gave 160 acres of public land to almost any American who agreed to steward it — Miami-Dade County has the Homestead Town Center. In a neighborhood where development sites sell for $1 million an acre, the 24-acre Homestead Town Center went for just $12.4 million in a no-bid deal in which the county…

Related Group promotes Jon Paul Pérez to CEO

In the latest batch of South Florida real estate hiring news, one of the region’s most prominent development scions moved up the ladder as succession plans take effect. Related Group promoted President Jon Paul Pérez to CEO as part of its succession plans, a spokesperson confirmed. Jon Paul Pérez, Related founder Jorge Pérez’s son, will also remain in his role as president…

Lease roundup: Ideal Nutrition opening at Prologis warehouse, hospice provider Vitas expands in Miramar

Healthy meal delivery service Ideal Nutrition will expand in Palm Beach County. Ideal Nutrition, led by CEO Wolfgang Brunet, leased a 43,200-square-foot warehouse at the Prologis Airport Center at 6017-6059 Southern Boulevard in an unincorporated area of the county, according to a news release from the tenant’s broker. The tenant is expected to move in this year.

Public Storage beefs up Plantation presence with $57M facilities purchase

Public Storage expanded its portfolio in Plantation after dropping a combined $57.3 million for two facilities. In the larger deal, Glendale, California-based Public Storage, led by CEO Joseph Russell Jr., paid $36.2 million for a complex with one four-story building and two one-story buildings with a combined 165,252 square feet of self-storage space, records and real estate…

Gazit Horizons Buys Galt Ocean Marketplace Shopping Center in Fort Lauderdale for $35.4M

Miami-based Gazit Horizons Inc. has purchased Galt Ocean Marketplace, a 105,589-square-foot shopping center situated on a linear 8.6-acre site along A1A in Fort Lauderdale. The seller, an affiliate of a joint venture between Evergreen Investment Advisors and Kitson & Partners, sold the grocery-anchored property for $35.4 million. Casey Rosen, Dennis Carson…

Pinnacle advances 196-unit Live Local affordable housing project in Fort Lauderdale

Pinnacle Housing Group and its partners advanced its plan to build a 196-unit Live Local Act affordable housing complex with separate buildings for seniors and workforce tenants in Fort Lauderdale’s Cypress Creek area. The Fort Lauderdale City Commission last week approved a $640,000 loan commitment to help the Miami-based developer finance construction…

Will Pinnacle’s apartment project near Fort Lauderdale waterfront fetch $50M-plus?

Pinnacle Housing Group’s two-year-old apartment project near Fort Lauderdale’s waterfront is hitting the market, and the listing brokers are expecting offers in the $50 million-plus range. Miami-based Pinnacle completed Elyps, an eight-story building with 140 units at 2500 Southwest 22nd Terrace, in 2023, records show. The development firm is led by partners Louis Wolfson III…

Gazit Horizons doubles South Florida retail portfolio with $35M purchase

Gazit Horizons acquired a grocery-anchored shopping center near Fort Lauderdale’s oceanfront for $35.4 million, doubling its South Florida retail portfolio. An affiliate of Gazit Horizons, the Miami-based U.S. arm of Israeli real estate firm Gazit Globe, paid $35.4 million for Galt Ocean Marketplace at 3700 and 3800 North Ocean Boulevard, according to a press release.

Behind the development boom coming for Broward County

Ask a toddler to draw picture of a beach, and it would probably look like the one in Fort Lauderdale. The sand is white and the water is blue. The palm trees offer sparse shade. On a March day, spring breakers sprawl across the sand. They’re young and sunburned, and they flock to the strip lined with spring break spots: the Elbow Room, Señor Frog’s and the Drunken Taco.

Pulte drops $40M on homesites near Palm Beach Gardens

PulteGroup dropped $39.5 million on homesites for its planned Reserve at Eastpointe luxury single-family community near Palm Beach Gardens. Records show Pulte bought the sites at the intersection of Donald Ross Road and North Jog Road from an affiliate of Fort Lauderdale-based GT USA. The Atlanta-based homebuilder had already paid $4.7 million for eight sites…

Lynd JV scores $133M refi for new 401-unit apartment complex at Tuttle Royale

Lynd and its partners scored a $132.5 million refinancing for their newly finished 401-unit apartment complex at Royal Palm Beach’s Tuttle Royale mixed-use development. The San Antonio, Texas-based firm this year completed Villas at Tuttle Royale with 26 three-story buildings and 55 townhomes for rent at 11200 Nicole Drive, according to a Lynd news release. The complex includes…

From Retreat to Residence: Why Billionaires Flock to Palm Beach County

Palm Beach County has long been synonymous with luxury, exclusivity and a prestigious coastal lifestyle. Over the past few years, the region has undergone a dramatic transformation, evolving from a seasonal retreat to a year-round hub for ultra-high-net-worth individuals. The shift has been driven by an influx of affluent buyers and high-profile business leaders, who have reshaped…

Steve Ross commits $50M to Vanderbilt’s West Palm Beach campus

Steve Ross committed a $50 million donation to Vanderbilt University for its planned West Palm Beach graduate school campus, an expansion the billionaire developer has championed since its inception. Including his donation, the school has raised a total of $77 million toward its $300 million fundraising goal for the project, a spokesperson confirmed.

Steve Ross advances plan to develop private school in West Palm Beach on 55 acres of city-owned land

Billionaire developer Steve Ross advanced his plan to develop a kindergarten-through-12th-grade private school on 55 acres of city-owned land in West Palm Beach near Florida’s Turnpike. The West Palm Beach City Commission on Monday voted unanimously to declare the 55-acre site as surplus city land and authorize negotiations based on a term sheet for the sale of the property…

Work-from-Anywhere Trend Pushes Rents Ahead of U.S. Norm in Florida Beach Towns

The COVID-19 pandemic inspired a mass migration to U.S. beach towns. When offices were shut down and employees were allowed to work from anywhere, many people moved to the beach. As a result of increased demand for apartments and limited supply along the Florida coastline, rents jumped notably across the state in 2021. Three years later, the gap created by those…

Moody’s National CRE Monthly Update: March 2025

Wait-and-See Approach to Monetary Policy Keeps CRE in Limbo Summary After a full percentage point reduction in the federal funds rate between the September and December 2024 Federal Open Market Committee (FOMC) meetings, the effective federal funds rate has remained flat at 4.33% since then. Meanwhile, the benchmark 10-year U.S. Treasury yield has remained…

Commercial real estate battles to stay in the mix ‘till 2026

Can private credit serve as a lifeline in turbulent waters? Breaking the ice The commercial real estate market has been relatively frozen for the past few years. With limited transactions and difficult financing conditions, the market has been unable to find a bottom, which has made true price discovery almost impossible. We’re only now seeing the market thaw for distressed…

Considering a Sale-Leaseback? Get Real About Value

In the world of commercial real estate, sale-leaseback transactions have become an increasingly popular financial strategy as interest rates have risen significantly from their post pandemic lows in December 2021. Unlocking the capital within corporate real estate facilities provides an excellent alternative to traditional debt financing. When it comes to evaluating…

E-Commerce Growth May Drive Logistics Space Demand Nationally To 30% By 2030

If the explosive growth of e-commerce continues as expected beyond 2024, it is likely to increase demand for logistics space from 24% now to 30% by 2030, and cross-border retailers like Shein and Temu will be a significant cause. A new analysis by Prologis of the impact of the e-commerce boom on logistics real estate found that in 2024, online retail accounted for 56%…

Self Storage in 2025: Treading Water

Earlier this month, Extra Space Storage and Public Storage offered valuable commentary during their annual earnings conference calls. Here are some of the important highlights: Pricing Power: We’ve Found Stable Ground. Throughout 2024, the introductory (teaser) rates offered to new customers underwent a steady decline. These lower rates were due to a mix of strategy…

Video: K.C. Conway on the Impact of Tariffs & Administration Policies

Tariffs, Inflation, and Real Estate: A Deep Dive into Today’s Economy with K.C. Conway In a fast-moving episode of America’s Commercial Real Estate Show, the show’s host sat down with renowned economist K.C. Conway to unpack what’s happening in today’s economy—and what it all means for commercial real estate. With topics ranging from tariffs and inflation to the fallout…

Q1 Moody’s CRE Preliminary Trend Analysis

Q1 2025 Snapshot: Core CRE sector performance remained steady in Q1 2025.  Multifamily is finding equilibrium after years of frictional oversupply. The office is still hindered by the evolution of remote working and uncertainty over utilization. Retail has finally rightsized, while industrial is rebalancing after strong growth in both demand and supply in recent years.

Video: MSCI Research Executive Director Jim Costello Provides Transaction Volume Forecast 2025; Navigating Distress, Opportunity, and Recovery

In a recent episode of America’s Commercial Real Estate Show the show host sat down with Jim Costello, seasoned economist from MSCI where he co-heads the real-assets research team with responsibility for the Americas, to unpack the state of commercial real estate as we move through 2025. The conversation offered a deep dive into transaction volumes, sector-specific…

The Fed: Do delinquency rates anticipate recessions?

Recent research has linked macroeconomic shocks with household financial distress. For instance, José Mustre-del-Río, Juan M. Sánchez, Ryan Mather, and Kartik Athreya show that regions with a higher share of credit card delinquency had more severe responses to macroeconomic shocks during the past two recessions. This post takes the topic a step further by…

FOMC Summary of Economic Projections, March 2025

Every quarter, FOMC meeting participants submit their projections of key economic indicators. The committee releases the Summary of Economic Projections (SEP), containing the median, central tendency, and range of these projections: civilian unemployment rate headline and core PCEPI real GDP growth and the federal funds rate. Projections are generally provided for the current…

Sabet and Evolve’s proposed projects in Miami’s Wynwood Norte and near Edgewater get green light

Miami architect Kobi Karp pulled off a double play, scoring a green light on designs for a pair of apartment projects near Edgewater and Wynwood Norte. On Wednesday, the Miami Urban Development Review Board approved 1600 Edgewater, Sabet Group’s 33-story tower with 282 apartments, as well as Evolve Companies’ Evolve Wynwood 35, an eight-story building…

2600 Biscayne Continues Vertical Ascent Towards 41-Story Apex in Edgewater

Construction continues to rise on 2600 Biscayne, a 41-story mixed-use tower at 2626 Biscayne Boulevard and 246 NE 26th Terrace in Edgewater, Miami. Designed by the globally-renowned architecture firm Arquitectonica with interior design by Vida Design and developed by Oak Row Equities, the 521-foot-tall structure will comprise over 900,000 square feet of space.

Construction to Start on ‘ENSO’ at 3025 SW 3rd Avenue in Miami

Florida YIMBY has an update regarding a mixed-use development we first covered in July 2021. Our initial report indicated that the then-named Ambienta Brickell would comprise 79 residences, ground-floor retail, and office space, but plans have since changed. The community is now named ENSO, and while it’ll still measure eight stories, it’ll instead offer 85 residences and ground-floor retail.

Ivan Herrera’s Unicapital pays $72M for late Sergio Pino’s apartment building

Insurance mogul Ivan Herrera’s family office acquired a Miami apartment building for $71.5 million that was developed by the late Sergio Pino. The sale of 850 Living, an eight-story multifamily project with 230 units at 811 Northwest 43rd Avenue, resolves the disposition of another key property among Pino’s numerous assets that his widow, Tatiana Pino, and her brother-in-law…

Construction Reaches Residential Levels On 80-Story Cipriani Residences Miami in Brickell

Construction is steadily advancing on Cipriani Residences Miami, an 80-story residential skyscraper at 1420 South Miami Avenue in Brickell. Designed by Arquitectonica with Thornton Tomasetti as the structural engineer and interiors by 1508 London, and developed by Mast Capital, the 940-foot-tall structure will span over 1.2 million square feet and house 397 condominium…

Aventura mixed-use project engulfed in legal turmoil faces foreclosure

The owner of a recently completed, yet troubled, Aventura mixed-use project is facing foreclosure after allegedly defaulting on $49.6 million mortgage debt. An affiliate of Las Vegas-based Dornin Investment Group last week sued Medical District Developments, managed by Felix Martinez Jansen in Aventura, which owns 1212 Aventura at 21290 Biscayne Boulevard.

14 ROC Moves to Contracts, Completion Planned In 2027

The 14 ROC tower planned near downtown Miami’s Adrienne Arsht Performing Arts Center is moving to the contract phase ahead of construction. There has been “robust sales momentum,” since sales launched last July, with 20% of units already sold, according to the developer. “Converting reservations to contracts represents a pivotal achievement in 14 ROC’s development…

Wynwood Haus Now 96% Leased, Less Than A Year After Opening

Renters have been flocking to the 20-story Wynwood Haus since it opened less than a year ago, according to its developers. The building is now 96% occupied, and has achieved stabilization. Black Salmon and LD&D in joint venture with IGEQ are the developers. “Over the past 12 months, Wynwood Haus has outperformed the market and expectations—surpassing average occupancy…

Developers Announce Plans To Build Ultra-Luxury Casa Cipriani Miami

Developer have announced plans to build a Casa Cipriani tower in Miami Beach. Casa Cipriani brand currently has locations in Milan and New York. The brand is led by the Cipriani family and traces its roots to the landmark Harry’s Bar in Venice, which opened in 1931 and is now a National Landmark. Casa Cipriani Miami will include a 40-key all-suites hotel, a private members club…

Cipriani, 13th Floor and Midtown Equities plan oceanfront tower in Miami Beach

The Cipriani family is jumping into another branded condo development in South Florida. Cipriani and developers 13th Floor Investments and Midtown Equities revealed plans for Casa Cipriani, a 40-key hotel, private members club and 17-story, 23-unit luxury condo tower in Miami Beach. The project, called Casa Cipriani Miami, is planned for the oceanfront property at 3611 Collins…

Photo: Cranes Removed From Topped-Off 40-Story Miami’s 501 First Tower

The cranes have been removed from downtown Miami’s 501 First tower, as it moves closer to completion. The 40-story tower is being built without a parking garage. It will include 448 residential condos allowing short-term rentals, along with 3,198 square feet of retail. A groundbreaking ceremony was held in December 2022, and the tower topped off just 18 months later.

Florida Memorial University plans $1B+ revamp with Redwood Dev Co

Florida Memorial University is working with Redwood Dev Co on the first phase of a redevelopment of the Miami Gardens campus, The Real Deal has learned. FMU, a historically Black university, tapped Redwood as the lead developer on the 52.6-acre project, according to FMU’s Interim President William McCormick and David Burstyn, principal of Miami-based Redwood Dev Co.

Omni area getting 33-story 282-unit residential tower

A developer plans a new mixed-use mixed-income residential tower for the Omni neighborhood of Miami, a few blocks from the School Board Metromover Station. 1600 NE 2nd Avenue LLC is the owner-developer of property at Northeast 16th Street and Northeast Second Avenue. Plans include a 33-story tower with 282 multi-family residential units, 10,000 square feet…

First Phase of Mercedes-Benz Places Goes Vertical in Brickell

Formwork is now rising above ground at Mercedes-Benz Places in Miami, marking the start of vertical construction on the first of two interconnected towers at 1 Southside Park in Brickell. Developed by JDS Development Group in collaboration with Mercedes-Benz, the mixed-use complex is designed by SHoP Architects, with ODP Architecture & Design as the architect of record.

RUDG Seeks Approval for 19-Story Workforce Housing Development at 1175 NW South River Drive in Miami

Related Urban Development Group (RUDG), the affordable housing branch of the Related Group, is seeking approval for a 19-story mixed-use building. Gallery at Riverwalk would comprise 236 apartments. The venture would offer workforce housing, and affordable housing units for those earning up to 80 percent of the area median income (AMI). Records report that Miami-Dade’s…

Miami Administrative Building at Miami Freedom Par Gets Utilities; First Look Inside

The City of Miami has signed a deal with Miami-Dade to connect its new administrative building to the county’s water and sewer system. The new 8-story city administrative building is currently being constructed at Miami Freedom Park, which will also be home to Inter Miami’s soccer stadium. Groundbreaking for the office building took place in mid-January.

700+ Foot Cranes Filed For Villa Residences Construction Site In Edgewater

Plans have been filed for two construction cranes at the Villa Miami Residences site in Edgewater. The 56-story Villa Residences tower broke ground in December, with construction now underway at the site. On March 20, plans were submitted to the Federal Aviation Administration for the two cranes. One crane is planned to rise 754 feet above ground, while the second…

Two Miami-Dade Cities Buying Up Commercial Property

Two Miami-Dade cities are taking advantage of the real estate slump by buying up commercial properties, planning to use the sites for parks, senior housing and other community purposes. Miami Gardens — the county’s third-largest city — has made several deals in the past year. “We’re 95% built out, and you just can’t find vacant land here,” City Manager Danny O. Crew says.

Photos: Under-Construction Casa Bella Residences Near Level 40

The Casa Bella Residences by B&B Italia tower is now around level 40 of construction, new photos show. The tower is planned to top off at 56 stories this summer. Groundbreaking took place in November 2023, with a foundation pour in May 2024. Casa Bella Residences by B&B Italia is planned to include 319 condos, along with amenities, including a 56th floor rooftop pool and terrace.

Drainage Construction Permit Applied For At 800-Room Grand Hyatt Miami Beach

The developers planning to build the new Grand Hyatt convention center hotel in Miami Beach have applied for a drainage system construction permit. The Class VI Permit application was submitted to Miami-Dade last week. It calls for construction of six interconnected drainage wells and related systems, at an estimated cost of $500,000. Balfour Beatty is listed as the contractor.

Aria Reserve North Tower Surpasses Halfway Mark In Edgewater

Construction has surpassed the halfway mark on the North Tower at Aria Reserve, the second skyscraper in Melo Group’s twin-tower luxury condominium development located at 725 NE 24th Street in Edgewater, Miami. Designed by Arquitectonica, with interiors by MORADA Haute Furniture Boutique and landscaping by ArquitectonicaGEO, the waterfront high-rise is planned…

Constellation, partners score $42M construction loan for North Beach condos

Constellation Group, Boschetti Group and Vietmar scored a $42.3 million construction loan for their planned North Beach condo project. Ella Miami Beach, a 10-story, 103-unit short-term rental-friendly condo building planned for 6940 Abbott Avenue in Miami Beach, is more than 50 percent presold, according to a press release. The developers landed the three-year…

‘Hideaways by the Bay’ to Offer Residency for Unhoused Individuals at 10821 Caribbean Blvd. in Cutler Bay

Miami-Dade County has plans to redevelop a shuttered La Quinta Inn into “Hideaways by the Bay,” a community that would offer long-term accommodations for homeless individuals. The effort will involve updating the hotel’s 107 rooms into those that can serve as residences for those struggling with housing insecurity. Each unit features its own bathroom, and planners intend…

Casa Bella Residences by B&B Italia Reaches Upper Floors in Miami’s Arts & Entertainment District

Construction has reached the upper floors at Casa Bella Residences by B&B Italia, a 56-story condominium tower rising at 1400 Biscayne Boulevard in Downtown Miami. Developed by Related Group and Alta Developers, with Arquitectonica as the architect, Piero Lissoni handling interior design, and Enzo Enea overseeing landscaping, the tower steadily advances toward…

Miami World Tower 1 Completes Construction, Rising 53-Stories in Downtown Miami

Miami World Tower 1, the first phase of the Miami World Towers development at Miami Worldcenter, officially opened at the end of 2024, introducing 560 rental units to Downtown Miami. Standing 579 feet tall and comprising 53 stories, the tower enhances the city’s skyline with its sleek and modern design. It features a fully glazed façade and a unique arrangement of balconies…

One Park Tower by Turnberry Tops Out at 33 Stories in North Miami’s SoLé Mia District

One Park Tower by Turnberry has officially topped off at 33 stories, marking a significant milestone for the residential development within SoLé Mia, a 184-acre master-planned community in North Miami. Developed by Turnberry and LeFrak, the tower is set to bring 303 luxury residences to the northern edge of the seven-acre Crystal Lagoon known as Laguna Solé….

Nine-Story Residential Tower VIDA Residences Progresses at 410 NE 35th Terrace in Miami

Florida YIMBY has an update regarding a mid-rise building we first covered in April 2023. Our sources share that the final deck of VIDA Residences has been poured, indicating that that the project is moving forward with its scheduled 2026 completion. At full buildout, the nine-story building will feature 121 fully furnished units, spanning studio to four-bedroom models.

Miami-Dade housing chief Alex Ballina leaving to start own firm

Miami-Dade’s housing czar Alex Ballina is leaving his government post to cash in on demand for affordable and workforce developments across the Sunshine State, The Real Deal has learned. He recently formed Florida Development Building Group, or FDBG, a firm that will use “data driven insights and data-backed strategies to focus on projects for essential workers in underserved…

Google funds Miami’s AI experiment with automatic zoning verification letters

A $250,000 donation from Google is funding a three-month pilot program using artificial intelligence to automate zoning verification letters while the City of Miami explores broader uses of the technology to optimize municipal services. The city commission approved a March 13 resolution from Mayor Francis Suarez accepting the donation from Google to utilize its C3…

Slate Hallandale Beach Secures $225 Million Refinancing in Hallandale Beach

PPG Development and BH3 Management have announced the successful refinancing of Slate Hallandale Beach, a 26-story luxury residential tower completed in 2022. J.P. Morgan and Monroe Capital provided the $225 million loan, which supports the continued stabilization and operation of the 250-unit property. Faisal Ashraf of Lotus Capital Partners…

BH, Prime score approval for Hallandale Beach hotel project

BH Group and Prime Group can charge ahead with plans for a Homewood Suites By Hilton hotel near Gulfstream Park, as South Florida’s hospitality sector expects growing demand this year. On Wednesday, the Hallandale Beach City Commission by a unanimous 7-0 vote approved a site plan for the joint venture’s 15-story project with 246 rooms and 281 parking spaces…

Affiliated lands $80M construction loan for Fort Lauderdale multifamily project

Affiliated Development is the latest South Florida developer to nab construction financing for an apartment project, despite a slowing multifamily market. Fort Lauderdale-based Affiliated, led by CEO Jeffrey Burns, secured an $80 million loan from Bank of Montreal to build The Era, a planned eight-story building with 400 apartments in the firm’s home city, records show.

Oak Lane advances 243-unit Live Local Act multifamily development next to its Boca Raton HQ

Oak Lane Partners plans to develop a 243-unit Live Local Act project next to its headquarters in Boca Raton, and is seeking streamlined approval under the state’s affordable housing law. Oak Lane, led by founder and managing partner Bhavin Shah, plans 226 apartments and 17 townhouses next to an office building that houses its headquarters in Boca Raton’s…

Principal Asset Management Sells 204,000 SF Pinewood Square Shopping Center in Lake Worth

Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. Situated on the southeast corner of Lantana and Jog roads, the property was 99 percent leased at the time of sale to 42 tenants including T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray…

Acadia dives back into South Florida with $68M Lake Worth Beach retail purchase

Nearly a decade after selling its interest in a large Miami Beach retail portfolio, Acadia Realty Trust is back in South Florida, acquiring a Palm Beach County shopping center for $68 million. An affiliate of Rey, New York-based Acadia, led by CEO Kenneth Bernstein, purchased Pinewood Square, a 96,586-square-foot center and six outparcels spanning 24,279 square feet at 6330 Lantana…

SROA Capital adds 12th facility to South Florida portfolio with $17M West Palm Beach site purchase

SROA Capital picked up its 12th South Florida self-storage facility for $17.1 million, 205 times more than the previous sale price nearly a half-century ago. An affiliate of SROA Capital, a West Palm Beach real estate investment firm that owns self-storage company Storage Rentals of America, bought a complex of 18 single-story warehouses at 1547 North Florida Mango Road…

Southeast Industrial Boom Driven By Population Growth And Strategic Infrastructure

Southeast Industrial Boom Driven by Population Growth and Strategic Infrastructure The Southeast United States has successfully attracted industrial occupiers and investors, driven by ongoing population growth, low costs, strategic infrastructure access, and a favorable business operation environment. Industrial vacancy rates remain below pre-pandemic averages, and rental rates…

Video: MSCI Research Executive Director Jim Costello Provides Retail Market Update & Forecast

In a recent episode of America’s Commercial Real Estate Show, the show’s host sat down with veteran economist Jim Costello of MSCI to explore the latest trends, challenges, and opportunities in the U.S. retail real estate sector. With over 30 years of experience analyzing market cycles, Costello provided valuable insights into how retail is faring in the wake of shifting…

The Byproducts of Eliminating Property Taxes

Eliminating property taxes for homeowners isn’t a concept I’ve heard often. Given Florida’s history as a pro-growth state that consistently seeks to improve its economic appeal, it’s not entirely shocking that such a bold proposal would surface there. What did surprise me, however, is that this tax cut would come in addition to Florida already not having a state income tax.

Strong Job Gains Meets High Apartment Supply Across Florida

Job growth has been significant across the state of Florida in the current cycle, which would typically lead to solid apartment occupancy and rent growth. But apartment performance in the Sunshine State has been subdued by staggering new supply volumes. Florida added 950,000 jobs in the 2020–2024-time frame, according to data from the Bureau of Labor Statistics.

The Fed: an update on the breakeven inflation rate

Expectations about inflation are an important indicator of actual future inflation: If market participants expect inflation to be higher, they may elevate prices, increasing the actual inflation rate and creating a self-fulfilling prophecy. In this FRED Blog post, we compare “breakeven” inflation expectations with actual inflation to see how they’ve both evolved over time.

First Tower Of 800+ Unit Project Proposed In Health District

Related Urban has submitted a Zoning Verification Letter to Miami-Dade planners for a property in Miami’s Health District. The project name for the proposed development is listed as Gallery at Wagner Creek. Gallery at Wagner Creek’s North Tower is proposed to rise 27 stories. It is proposed to include 460 residential units, 354 parking spaces, and a 7th level amenity deck.

Sabet and Evolve’s proposed projects in Miami’s Wynwood Norte and near Edgewater get green light

Miami architect Kobi Karp pulled off a double play, scoring a green light on designs for a pair of apartment projects near Edgewater and Wynwood Norte. On Wednesday, the Miami Urban Development Review Board approved 1600 Edgewater, Sabet Group’s 33-story tower with 282 apartments, as well as Evolve Companies’ Evolve Wynwood 35, an eight-story building…

Developers Plan 2,400 Apartments On Biscayne Boulevard

A massive apartment complex is being planned on Biscayne Boulevard, according to The Real Deal. The development will have over 2,380 apartments, a school, and commercial space, the report said. Israeli company Canada Global is said to be partnering with Adam Neumann’s Flow on the development. The 16-acre El Portal property was formerly a trailer park, and is now vacant.

Baron scores $206M construction loan for 661-unit apartment project in Hialeah

Baron Property Group scored a $206 million construction loan for the Metro Parc North apartment project in Hialeah. The New York-based firm is building the eight-story building with 661 units at 901 East 26th Street, according to a Baron news release. Construction started last month, and is expected to be completed in late 2027. Stamford, Connecticut-based Post Road Group is the lender…

Baron Property Group Secures $206M for Florida Project

Baron Property Group has secured $206 million in construction financing from Post Road Group to help transform Hialeah, Fla., with a new transit-oriented residential property. Developers broke ground on the project, Metro Parc North, last month, with completion expected in late 2027. Metro Parc North will offer 661 homes ranging from studios to three-bedrooms.

Facade Work Progresses on The First of the ‘222’ Namdar Towers in Downtown Miami

Facade work is making significant progress on the first of two 43-story towers at 222 NE 1st Avenue in Downtown Miami, known as Namdar Towers or simply “222.” Developed by New York-based Namdar Group, the project will encompass approximately 1.3 million square feet, integrating residential, commercial, and parking components. Designed by Behar Font & Partners…

Miami Beach commission grants initial approval of Deauville redevelopment

Miami Beach commissioners approved land use changes that will allow the Meruelo family and David Martin’s Terra to build a larger project on the oceanfront property that was previously home to the Deauville Beach Resort. The commission on Wednesday evening voted six to 1, with commissioner David Suarez casting the sole ‘no’ vote, on first reading to approve two amendments…

Summit Brickell Enters Construction Permitting

The 65-story tower known as Summit Brickell has entered the construction permitting phase. The permit application was submitted to Miami-Dade County in late February, with review now underway. Turner Construction is listed as the contractor. Zoning review of the tower was completed by Miami-Dade late last year. Summit Brickell is planned to include 505 residential units…

Map: Here are South Florida’s canceled or delayed office projects

In recent years, South Florida’s office market appeared resilient to financial woes experienced elsewhere in the U.S. Major companies leased across the tri-county region, making brokers giddy. Developers announced plans for new South Florida office projects, offering flashy renderings. Yet by now, some of these projects are canceled or paused. The progress and success of others…

Botched $11M land deal costs city of Doral nearly double the price six years later

Six years after allegedly trashing a vacant property it intended to buy for $10.7 million, the city of Doral will pay the landowner nearly double the originally agreed purchase price. On Wednesday, the Doral City Council approved a settlement agreement that will pay Doral 10, an entity managed by Lizbeth Arencibia of Hialeah Gardens, $21 million to drop a 2019 civil lawsuit…

Miami-Dade Office Vacancy Among Nation’s Lowest

The office market in Miami-Dade is among the strongest in the nation, according to a new report by Marcus & Millichap. “Miami’s office market continues to outperform, with one of the lowest vacancy rates in the nation and sustained investor interest in both urban and suburban submarkets. Strong pre-leasing activity and an expanding knowledge-based economy…

Developer Vivian Dimond to revive stalled waterfront North Bay Village condo project

Developer Vivian Dimond took over the stalled condo building in North Bay Village, a 15-story shell on Harbor Island, The Real Deal has learned. The planned 54-unit building at 7918 West Drive will now be called Tula Residences. Dimond’s Bayshore Grove Capital is now the sole managing member of the LLC that owns the property, she said. Malaysian developer Pacific & Orient…

Signage Installed At Edgewater Whole Foods, Opening Date Coming Soon

Signage for Edgewater’s new Whole Foods Market has been installed, as construction on the new store continues. An opening date for the store will be announced soon, a broker involved in the lease of the store said. Whole Foods is building out 50,812 square feet of space at the ground floor of the new Forma tower. By comparison, the existing downtown Miami Whole Foods…

Photo: Demolition Activity At Brickell’s Santander Tower Site

Demolition activity can be seen at the Brickell Avenue site were Santander Bank is planning a landmark tower. The new 40-story tower is planned to rise 765 feet, with a design by Handel Architects and Bernardi & Peschard Arquitectura. It will include 612,918 square feet of Class A office space, and 1,496 parking spaces. There will also be 107,953 square feet of food and beverage…

Construction Cranes Installed To Build 58-Story Downtown Miami Tower

Multiple construction cranes have now been installed at the Downtown 6 site. Downtown 6 is a massive apartment tower under development by Melo Group. It will rise 58 stories upon completion. The tower will have 824 apartments, 2,247 square feet of retail, and 639 parking spaces. Melo also built the two 52-story Downtown 5 towers seen in the background…

606-Unit Worldcenter Tower Reaches Level Ten Of Construction

Contractors have now completed ten floors at the 600 Miami Worldcenter tower, about a year after groundbreaking. The groundbreaking ceremony for the tower took place last year in mid-March, with vertical construction beginning around six months later. By December, the third floor of the tower had been poured. The tower is eventually planned to top off at 32 stories…

Lewis Swezy plans age-restricted low-income apartment project in Miami-Dade, as developers target affordable housing

Affordable housing developer Lewis Swezy plans an 80-unit age-restricted apartment project near the Earlington Heights Metrorail stop in Miami-Dade County. Swezy, through his Miami Lakes-based Centennial Management, wants to develop the six-story building with 60 one-bedroom apartments and 20 two-bedroom apartments on a 0.7-acre site at 4052 Northwest 22nd Avenue…

Okan Towers Ascent Continues at 555 North Miami Avenue in Downtown Miami

Construction continues to climb at Okan Tower, a 70-story mixed-use skyscraper at 555 North Miami Avenue in Downtown Miami. Designed by Behar Font & Partners with Thornton Tomasetti as the structural engineer and Ortus Engineering as the civil engineer, and developed by Okan Group, the 902-foot-tall tower will feature 163 luxury residences, 236 condo-hotel…

More South Florida distress: Brickell commercial condo owner’s bankruptcy filing delays foreclosure sale

A disgraced Venezuelan ex-banker identified in the Panama Papers joins a growing number of South Florida commercial real estate owners feeling the pinch of distress. An entity managed by Eligio Cedeño in Coral Gables filed for Chapter 11 reorganization in Miami federal bankruptcy court on Saturday, two days before its four commercial units at Brickell House condominium…

University of Miami plans major campus

University of Miami’s Coral Gables campus is on track to complete a large residential project in 2026 and continues to work on more capital improvement projects. Centennial Village is to be a first-year experience for students, said Jessica Brumley, vice president of facilities, operations, and planning. “The majority of our freshman students would live in the Centennial Village…

Brazilian billionaire’s firm completes dev site purchase for first Coral Gables condo project

Multiplan Real Estate Asset Management completed an assemblage for its first condo development in Coral Gables, The Real Deal has learned. Brazilian billionaire Jose Isaac Peres’ firm, led by managing partner Marcelo Kingston, paid $17.8 million for the second half of the assemblage, an office building at 1501 Venera Avenue, Kingston told TRD. Mutiplan acquired the first piece…

Adam Neumann’s Flow nabs $51M loan for $71M El Portal site purchase, partners with Canada Global on mixed-use development

Adam Neumann’s Flow nabbed a $51 million acquisition loan and is partnering with Canada Global for a planned mixed-use project on an El Portal development site. New York-based Ladder Capital provided the mortgage to a Delaware entity with ties to Flow that paid $71.5 million for a 16-acre former trailer park at 8500 Biscayne Boulevard, records show. Canada Global…

Miami International Airport pivoting stores to dining

Miami International Airport, in the midst of $9 billion in physical growth, is on the runway to also revamp the stores and dining that passengers can choose from in an upgrade that will markedly swing the mix from mostly shopping to nearly two-thirds food and beverage. While reworking terminals is slow, most food and shopping concessions will vastly alter within three years…

Habitus scores approval for 61-key hotel in Miami’s Edgewater, ramping up its South Florida hospitality investment

Habitus Capital scored approval for a 61-key boutique hotel in Miami’s Edgewater, marking the firm’s continued investment in South Florida’s hospitality market. Brickell-based Habitus plans the eight-story building on a 0.2-acre lot at 459 Northeast 25th Street with 20 on-site parking spaces and two street parking spaces, according to a Miami City Commission agenda item.

Homestead gears first strategic plan as roadmap to future

The City of Homestead is undertaking steps to develop its first-ever strategic development plan, following a major push from City Manager Zerry Ihekwaba. “It was part of the vision and mission statement to have a clear concept of what are we looking at for the future. What exactly are we looking to accomplish?” asked Dr. Ihekwaba. “Upon my assumption of office, I realized…”

Trinity leading development of JMH’s former condo project near Faena District

Bill and Dana Lozito’s Trinity Southern is taking over development of a long-planned luxury condo project in Miami Beach called 29 Indian Creek, The Real Deal has learned. Developer Jason Halpern’s JMH Development will remain an investor-partner and adviser on the planned 22-unit development at 2901 and 2911 Indian Creek Drive, near the Faena District, Bill Lozito said.

Construction Rises Higher on the 100-Story Waldorf Astoria Hotel & Residences in Downtown Miami

Construction is rising higher on the Waldorf Astoria Hotel & Residences Miami, a 100-story supertall mixed-use skyscraper at 300 Biscayne Boulevard in Downtown Miami. Designed by Sieger Suarez Architects in collaboration with Carlos Ott and developed by Property Markets Group (PMG) and Greybrook Realty Partners, alongside Mohari Hospitality, S2 Development, and Hilton…

Shoma sheds another property, sells Hialeah project to IMC for $81M

For the second time in less than a month, Shoma Group’s commercial portfolio got lighter — along with its overall debt. The Coral Gables-based firm, led by power couple Masoud Shoajee and Stephanie Shojaee, sold a fairly new Hialeah mixed-use project to Yoram Izhak’s North Miami-based IMC Equity Group, records and real estate database Vizzda show.

Waldorf Astoria Supertall Reaches Level 19

Developer PMG says that the Waldorf Astoria Hotel & Residences Miami has reached a new construction milestone. Level 19 of the tower’s shell has now been poured, and contractors have begun pouring the building’s pool level. Contractors are also now installing the glass facade in the building’s first cube (there will be nine cubes in total). Once the pool level has been poured…

Tourmaline pays $76M for Coral Gables office complex facing foreclosure

A year into Coral Gables’ Columbus Center’s debt woes, Tourmaline Capital Partners paid $76 million for the property facing foreclosure. Bryn Mawr, Pennsylvania-based Tourmaline bought the office complex consisting of a 14-story building and an eight-story building on a 2.5-acre site at 1 Alhambra Plaza, according to records and real estate database Vizzda.

Developer Of 848 Brickell Agrees To Public Benefits Contributions

The developer planning an office tower at 848 Brickell Avenue has agreed to public benefits contributions as a condition for obtaining development approval. The contributions will include: $2m towards the 10st Street Metromover Station, to be used at the county discretion for repairs, maintenance, and improvements Pedestrian improvements surrounding the development…

Photo: 44 & 45-Story Towers Rising In Brickell

Two towers are rising in Brickell, a new photo shows. One of the tower is the 44-story Lofty Brickell, which is planned to include 364 residential units allowing short-term rentals. The second tower will be the 45-story Standard Residences, which will have 422 condo units, a 45th floor rooftop lounge, amenities, and a restaurant. The towers will be be connected by a podium.

33-Story 1600 Edgewater Tower Proposed in Miami, Set for UDRB Review on March 19

Plans have been submitted to Miami’s Urban Development Review Board for 1600 Edgewater, a 33-story mixed-use tower proposed at the former Miami Cash Register site at 1600 NE 2nd Avenue. Designed by Kobi Karp Architecture & Interior Design, the project aims to integrate elements reflective of Biscayne Bay, Wynwood, and Miami’s evolving skyline, according to…

Okan Group Unveils New Hilton Residences Miami Bayfront

Okan Group, in partnership with Hilton (NYSE: HLT), has unveiled the first look at Hilton Residences Miami Bayfront, a new collection of residences offering modern, high-rise living in downtown Miami. With prices starting at $685,000, the homes bring additional housing options to a growing urban center while incorporating world-class hospitality and amenities….

‘Season One Brickell’ Planned for 1200 SW 2nd Avenue in Miami

Developers Habitat Group and BI Group are one step closer to making One Season Brickell a reality. Miami Dade’s Water & Sewer Department recently agreed to provide utilities to the pre-construction high-rise. Plans call for 88 residences in a 22-story tower, including studio to three-bedroom models; homes would span 432 to 1,017 square feet. Homes would come outfitted…

33-Story Edgewater Tower Revealed For The First Time

Plans for a 33-story tower have been revealed for the first time in a filing to Miami’s Urban Development Review Board. The building is named 1600 Edgewater, according to a letter to board members from an architect at Kobi Karp Architecture & Interior Design, the firm designing the building. “This building aspires to be more than just a physical structure; it is a celebration…

Plans Submitted For 141 Residential Units In Wynwood

Plans have just been revealed for another residential project in the Wynwood Norte area. The project name is listed as either 35th Wynwood or Evolve Wynwood 35 in documents and plans submitted to Miami’s Urban Development Review Board. Evolve Wynwood 35 is planned to rise 8 stories and include: 141 residential units 202 on-site parking spaces Parking will be located…

Update Provided On 55-Story Legacy Miami Worldcenter

The developer of the 55-story Legacy Miami Worldcenter tower has provided an update on a construction halt, according to the SFBJ. The developer expected to remobilize construction in around five to six weeks, the report said. Construction has been halted since 2024. A foundation pour for the tower took place in 2022, with a crane installed in early 2023. After the halt…

Miami Multifamily Real Estate Report – Q4 2024

Market Snapshot for Miami Multifamily Real Estate We’ve compiled key statistics (vacancy rates, absorption rates, and rental rates) and property transactions for Miami multifamily real estate in this report. The Miami multifamily report is updated quarterly by our commercial real estate professionals. We also want to cover the bigger picture and provide some information about…

Lease roundup: Call Me Gaby on tap on Miami River, Brightline’s MiamiCentral lands Brooklyn Dumpling Shop and five other tenants

Call Me Gaby, the Italian restaurant in Miami Beach’s South of Fifth neighborhood, will expand to the Miami River. Call Me Gaby owners Cathy and Anthony Arrighi, in partnership with restaurateur Roman Jones, will open the restaurant in a two-story, 8,500-square-foot building at 5 Southwest South River Drive in Miami, according to a news release from Call Me Gaby and Jones.

‘Parks at Davie’ Planned for 2027 Completion at Northwest Corner of Davie Road and Southwest 37th Street in Davie

With the security of a $67.5 million construction loan, two developers are one step closer to making their multi-family housing project a reality. That venture? Parks at Davie, a 383-unit apartment complex. The one-bedroom to three-bedroom homes will measure 568 to 1,415 square feet; in-unit amenities include stainless steel appliances, nine-foot-high ceilings, and quartz…

Construction Financing Secured for Apex Logistics Park at Signature Grand in Davie, FL

Altman Logistics Properties and FRP Development Corp. have secured $31.9 million in construction financing for Apex Logistics Park at Signature Grand, a two-building, 182,000-square-foot logistics development planned for Davie, Florida. The site, formerly home to the Signature Grand events and catering space, will undergo demolition in preparation for vertical construction…

13th Floor scores $68M construction loan for Davie rentals

13th Floor Investments and JSB Capital Group scored a $67.5 million construction loan for a 383-unit apartment complex near Broward College in Davie. Coconut Grove-based 13th Floor and Miami Beach-based JSB Capital plan the five-story Parks at Davie with some workforce apartments on the northwest corner of Davie Road and Southwest 37th Street, according to a 13th…

Developer Proposes Mixed-Use Venture for 228 SE 9th Street in Hallandale Beach

Hallandale Beach-based Grupo Eco intends to move forward with a mixed-use development in the area. The Web Center would replace two duplexes and a few single-family homes, offering residences, office space, and retail. Plans call for two structures: a four-story office building and a seven-story multi-family tower, both connected by a podium that would feature 9,350 square feet…

PPG, BH3 score $225M refi for Hallandale Beach apartment tower, as lending still flows in South Florida

PPG Development and BH3 Management scored a $225 million refinancing for the Slate Hallandale Beach apartment tower. The deal marks continued lending in South Florida, despite higher interest rates, slower apartment leasing and other economic headwinds. JP Morgan Chase and Monroe Capital provided the refinancing for the 26-story, 250-unit Slate…

Developers Secure $225 Million in Refinancing for 26-Story Slate Hallandale Beach Residential Tower

PPG Development and BH3 Management have secured a $225 million refinancing package for Slate Hallandale Beach, a 26-story residential tower completed in 2022. The financing, provided by J.P. Morgan and Monroe Capital, will support the continued operation of the 250-unit luxury development, which is positioned among Hallandale Beach’s premier residential…

Journey Capital buys multifamily complex in Plantation for $102M

Journey Capital scooped up a 404-unit multifamily complex in Plantation for $102 million. The New York-based investment manager bought Rise at Plantation Walk at 333 North University Drive from Boca Raton-based Encore Capital Management, according to records and real estate database Vizzda. The deal breaks down to $252,500 per unit. Journey borrowed $89.7M…

Miami Manager cuts fully leased Broward retail center from commercial portfolio

Miami Manager is left with three shopping centers in South Florida, after selling Village Shoppes of Coconut Creek for $21.3 million. An affiliate of Sunrise-based Miami Manager, led by Claudio and Milton Mekler, sold the two-building retail site at 4690 North State Road in Coconut Creek to an entity managed by Dayvana Milano and Lisette Hermoso in Coral Springs…

Publix picks up another of its South Florida stores for $25M

Publix is back at the South Florida retail checkout line, paying $25 million for one of its stores near Galleria Mall in Fort Lauderdale. Since last year, the Lakeland-based grocery chain has dropped $273 million for standalone Publix supermarkets and shopping centers anchored by its stores, including its latest purchase. An affiliate of Publix, led by CEO Kevin Murphy, acquired…

14-Story ‘Sereno Fort Lauderdale’ Planned for 2028 Completion at 2901 NE 9th Court in Fort Lauderdale

Two developers are moving forward with a high-rise multi-family development in Broward County. Sereno Fort Lauderdale will measure 14 stories above grade, requiring 230,000 square feet of new construction. Our sources indicate that the tower will host 76 “boutique residences,” with homes spanning one-bedroom to three-bedroom models. They will measure 1,080…

Integra launches sales for Sereno Fort Lauderdale condos

Integra Investments is launching sales for Sereno Fort Lauderdale, a condo project with prices starting at $1.4 million. The Miami-based developer is planning the 14-story, 76-unit condominium for 2901 Northeast 9th Court in Fort Lauderdale, according to a press release. It was originally planned as an 11-story, 54-unit condominium with a 12-story, 100-key hotel.

Triarch, partners buy Dania Beach’s Airport Commerce Park for $18M, amid a South Florida office market paradox

A group of investors bought Airport Commerce Park near Fort Lauderdale-Hollywood International Airport for $18.3 million. The deal comes amid a paradox for South Florida’s office market. While aging suburban buildings have traded at discounts and foreclosures have popped up, Broward County recently scored two office deals for over $200 million each. An entity managed…

TM Real Estate scores $54M construction loan for 250-unit Boynton Beach complex, amid South Florida multifamily supply overhang

A developer scored a $53.5 million construction loan for a 250-unit apartment complex in Boynton Beach, amid a multifamily supply overhang in South Florida. TM Real Estate Group plans the Shalimar at Boynton Beach project with 10 three-story and four-story buildings, a nearly 10,000-square-foot clubhouse and 4,300 square feet of retail in two additional buildings…

Harnessing Critical Mass: The Key to a Thriving Office Environment

The story of the office market is an epic tale filled with dramatic twists and turns, reminiscent of a cinematic thriller. As we delve into in the Moody’s docuseries, Work from Where: Building the Future of Work and Urban Life, obsolescence is a key theme in this narrative; however, it is not solely a consequence of the pandemic. Instead, it stems from longer, more subtle changes in how…

Fed Stays Put on Interest Rates, but Uncertainty Looms

The Federal Reserve Open Markets Committee elected to keep interest rates the same at the conclusion of its March meeting, at a target range of 4.25 to 4.5 percent. The current Federal funds rate has remained unchanged since last December. The decision follows consistent reports of a strong, yet slowing economy and even more uncertainty around inflation, particularly as it…

What’s in and what’s out five years after COVID-19 lockdowns began: commercial real estate edition

The COVID-19 pandemic’s onset set off a once-in-a-century exogenous macroeconomic shock has left lasting scars on commercial real estate (CRE). In this report, we explore the shifts that occurred across CRE after this historic disruption and its aftermath, from property tastes to geography to lifestyle to lending dynamics, and their impact on the asset class. Location, Location…

Property Tax & Extreme Weather Events: A Complicated Relationship

As extreme events contribute to the recent surge in P&C insurance premiums, some lenders have noted that there might be a knock on effect on property tax. Perhaps municipalities striving to rebuild from hurricanes or wildfires, or implement resilience projects to mitigate future risks, may raise property taxes to finance these initiatives.  Is this true? The answer is complicated…

Developer plans 163-unit Live Local Act project near West Little River, amid flurry of proposals under state law

A developer proposes a 163-unit Live Local Act multifamily project near West Little River, as the industry continues to seize on the state affordable housing law. Dan Ainuz, a residential real estate investor and developer, wants to build a 14-story building with 40 percent of the units, or 65 apartments, at below-market rents, according to an application Ainuz’s affiliate filed…

Lower Level Curves Now Visible At 80-Story Cipriani Tower In Brickell

Brickell’s 80-story Cipriani Residences Tower is continuing to take shape, new photos show. Cipriani is expected to become the tallest tower in Brickell when it tops off (there are other Brickell buildings planned to rise even taller, but they are not yet under construction). The Cipriani tower is planned to reach a near-supertall height of 940 feet above ground, or 950 feet…

No bid, no problem? Miami-Dade eyeing deal with Michael Swerdlow for workforce housing project

Miami-Dade officials could forgo competitive bidding to have developer Michael Swerdlow build a workforce housing project near a site he’s buying from the county for a planned Costco store. The unusual arrangement is part of a proposed county resolution to amend a pending sales contract for Swerdlow to pay Miami-Dade $8.1 million for 17 acres of county-owned vacant land…

Swerdlow proposes replacing Miami public housing complexes with 5,000-plus apartments with affordable, workforce units

Developer Michael Swerdlow wants to develop 5,730 multifamily units with some affordable and workforce apartments, replacing five public housing complexes across Miami. Coconut Grove-based Swerdlow Group’s project also will include 370,000 square feet of commercial space such as offices and a school; 250,000 square feet of open space and amenities…

Demolition Progress At Edgewater Site Where 635-Foot Tower Planned

Demolition now appears to be mostly complete at the Tower 36 site in Edgewater. Developer One Thousand Group is planning a 635-foot tower on the property. The developer closed on the purchase of the site in December, for a reported $53m. In January, a demolition permit for a former Shell gas station on the property was issued. The permit is still active as of this morning.

13th Floor, LeFrak and Related take over Shoma dev site in Miami

Shoma Group is abandoning plans to redevelop a shuttered car dealership, selling the 2.5-acre site for $35 million to a group that includes Richard LeFrak’s eponymous firm. An entity managed by Arnaud Karsenti, principal of Coconut Grove-based 13th Floor Investments, acquired the property at 3650 Bird Road, records and real estate database Vizzda show. 13th Floor partnered…

Fifield Cos. Welcomes First Residents to 266-Unit Avida Aventura

Fifield Cos. has opened Avida Aventura, a 266-unit luxury apartment community located at 19401 W. Dixie Highway in Aventura. The project sits steps away from the new Brightline station, with direct access to the Aventura Mall, the fifth-largest mall in the U.S. and one of Miami’s premier dining, retail, and entertainment hubs. “As the first upscale multifamily development…

“Out of scale”: Michael Stern’s and Gianluca Vacchi’s condo tower proposal shot down by Miami Beach board, now heads to commission vote

Michael Stern’s JDS Development Group and Gianluca Vacchi’s GV Development Group are heading to the Miami Beach City Commission next month with an unfavorable recommendation from the city’s planning board for their proposed tower. The developers are proposing a luxury condo project on the bay at 1250 West Avenue that would require legislative changes to the city’s future…

Construction Underway at Cassia, a 12-Story Condominium in Coral Gables’ Merrick Park District

Construction is now underway at Cassia, a 12-story condominium at 4011 Salzedo Avenue in Coral Gables’ Merrick Park District. Developed by Alta Developers, the project will introduce 174 fully furnished residences, with Behar Font & Partners as the design architect and IDDI overseeing interiors. Residences at Cassia will range from 662 to 1,461 square feet, offering one-, two-, and…

The HueHub Gets FAA Approval

The Federal Aviation Administration issued a letter this morning stating that the proposed height of a Live Local development is not a hazard to air navigation. The development is named The HueHub in the FAA application, and in plans filed with the county. The HueHub will have a permanent building height of 350 feet above ground…

24-Story Excel Miami Continues Rising

Excel Miami, a 24-story apartment complex under construction near the Arsht Center, is quickly rising. As of last week, construction of the building’s shell appears to have passed the podium garage levels, moving towards the typical residential floors. Shell construction tends to accelerate once buildings reach their typical residential floors. Excel will have 427 apartments…

Kolter, BH seek redevelopment approval for Miami Beach oceanfront site they listed for $110M

Kolter Group and BH Group are pursuing a redevelopment plan for an oceanfront hotel that the joint venture recently listed with a whisper price of $110 million. Delray Beach-based Kolter’s hospitality division and Aventura-based BH submitted a site plan application with the city of Miami Beach to tear down the Crystal Beach Suites Miami Oceanfront Resort at 6985 Collins Avenue…

FAA Approves 831-Foot Building Height In Downtown Miami

A proposal for a building in downtown Miami has been given the green light by the Federal Aviation Administration. A determination letter was sent by the agency on March 11 to Clear Communities Miami North & South, LP. The approved height is 831 feet above ground, or 840 feet above sea level. The project is located at 130 SE 1st Street, a description states. It is the same address…

174-Unit Cassia Breaks Ground In Coral Gables

A groundbreaking ceremony has taken place in Coral Gables for the Cassia condominium development. Cassia will rise 12 stories, and is being designed by architect Behar Font & Partners. The building will be located adjacent to Merrick Park. There will be 174 condos that will be delivered furnished. Units will have European appliances, RH furnishings, and Italian cabinetry…

Glass Installed At 138-Unit Vida Edgewater

Glass has been installed at Vida Residences, which is under construction in Edgewater. Vida Residences is planned to rise nine stories and include 138 condo units. The developer of the project obtained $38.5m in construction financing last year, according to Commercial Observer. Kobi Karp is the architect. The developer is Urbana.

New sanitation/storage hub for ports targets meat, medical imports

A lease of Miami International Airport land on the runway this week will provide an option to bring perishables into the airport and PortMiami that now are diverted to Northeastern ports and trucked back to South Florida. The deal could add $318 million to the county’s revenue. The agreement being heard by the Appropriations Committee stems from an airport-seaport…

Miami-Dade to consider $318 million cold chain processing facility

A Hollywood, Florida-based real estate developer may soon make a deal with Miami-Dade County for the right to build a new treatment and processing facility on county land. On March 12, the Miami-Dade County Commission’s appropriations committee will discuss a proposed lease deal with Mandich Group, LLC for the design, permitting, construction, financing and operation…

Lefferts starts closings for 72 Park condos in North Beach

Lefferts has begun closings for its first of four condo projects planned in Miami Beach’s North Beach neighborhood. 72 Park, a 22-story, 206-unit short-term rental-friendly building at 580 72nd Street is 90 percent sold, according to Miami Beach-based Lefferts founder Mendy Chudaitov. So far, deeds for 40 units have been recorded by Miami-Dade County. Condos range from studios…

Vote Scheduled On Nearly 6K Units Planned In Little River

Miami-Dade’s Housing Committee has scheduled a vote on a lease deal that could see thousands of residential apartments and condos developed in Little River. SG Little River Holdings LLC, led my Michael Swerdlow, is proposing to redevelop county land with 5,730 housing units,, 370,000 square feet of commercial space, office space, schools, a Tri-Rail Station, condo units…

Phased Vertical Permit Issued For 50-Story St. Regis In Brickell

Miami’s Building Department has issued a phased vertical permit for the 50-story St. Regis Residences in Brickell. According to an email from the developer, structural foundations and vertical construction of the tower is planned to start in May or June. A groundbreaking ceremony for the 152-unit condo tower took place in November, and foundation work is underway.

Developers Buy Site For 40-Story Towers At Metrorail Station

A transit-oriented property in Coral Gables where two 40-story towers were planned has been sold, according to Bisnow. 13th Floor Investments partnered with Related Group and LeFrak on the $35M acquisition. Shoma Group was the seller. In 2023, Shoma filed plans for two 40-story towers on the site, which is near the Douglas Road Metrorail station. The development…

Cymbal DLT Closes on $114 Million Financing for Laguna Gardens in Miami Gardens

South Florida-based Cymbal DLT Companies has secured $114 million in permanent financing for Laguna Gardens, a 341-unit multifamily community in Miami Gardens. The senior and mezzanine loans, provided by Apollo Global Management and RXR Realty Investments, paid off the development’s $102.5 million construction loan issued in 2022 by Related Fund Management…

Developer Seeks Funding for Affordable Housing Development at 3650 Florida Avenue in Coconut Grove

Grove Prosperity Partners LLC, an entity comprising a church, non-profit organization, and developer, is seeking funds for an affordable housing development in Coconut Grove. Grand Bahamas Place is slated to include two buildings: a five-story structure featuring 56 condos and a two-story building that would offer 2,950 square feet of retail and 4,000 square feet…

Collins Avenue retail storefront targeted in $6M foreclosure

The retail woes along a stretch of Collins Avenue in South Beach have sparked a foreclosure lawsuit against a storefront owner that allegedly owes $5.5 million to a lender. Last week, Troy, Michigan-based Flagstar Bank sued Brooklyn resident Zipporah Goldstein and her entity that owns nine ground-floor commercial units of a three-story condominium at 751 Collins Avenue, records show.

Miami-Based Lombardi Properties Proposes Office Building for 160 N.W. 30th Street in Miami

Miami-based Lombardi Properties has proposed a high-rise office building in Miami-Dade County. The project, which the Next Miami calls “161 Office,” would measure 12 stories above grade and comprise more than 45,000 square feet of new construction. It would take shape on two parcels that make up a 12,200-square-foot site. The already-existing commercial building on the property…

An Expanding Menu of Green Financing Options

Investing in energy efficiency retrofits often comes down to finding financing that can offset the high capital expenditure (CapEx) required while still enabling reduced operating expenses (OpEx) over time due to savings on utility bills. A range of drivers may push CRE companies to look for green financing opportunities, from fluctuating energy costs or tenant demand for green…

North Beach’s Development Boom Gains Momentum With New Residential and Mixed-Use Projects

North Beach, a historically low-rise and quiet section of Miami Beach, is undergoing a wave of redevelopment as developers capitalize on new zoning incentives and increasing demand for housing. The neighborhood, which spans 63rd to 87th streets between the Atlantic Ocean and Biscayne Bay, has seen an influx of investment following a 2017 voter-approved increase in floor area…

Carrfour Supportive Housing Debuts Miami Affordable Community

Carrfour Supportive Housing has opened Southwest Hammocks, a 100-unit fully affordable community in Miami, designed to serve adults with severe mental health issues. The National Alliance on Mental Illness, together with Broward Behavioral Health Coalition, Foot Print to Success Clubhouse and South Florida Wellness Network, were also involved in developing the project.

Developer Proposes Redevelopment of Affordable Housing Community at 750 NW 18th Terrace in Miami

As it stands, the Mildred & Claude Pepper Tower is a 166-unit affordable housing development for seniors in Miami. Built in 1970, the 12-story complex currently offers efficiencies and one-bedroom homes. Yet, Related Urban Development Group (RUDG) has filed documents to redevelop the complex into a 14-story tower with 398 apartments. The one-bedroom and two-bedroom…

First Phase Of $1.5B Southplace City Center Breaks Ground

Construction is now underway on the first phase of Southplace City Center. Southplace City Center is planned as a $1.5B redevelopment of the Southland Mall property, to be built over seven years. A 350-unit apartment building called The Current at City Center is the first phase. It will have luxury amenities and a parking garage. Presidente Supermarkets will occupy the entirety…

Related proposes 390-unit Live Local Act project for South Miami public housing redevelopment

The Pérez family’s Related Group proposes a 390-unit Live Local Act project for the second phase of its redevelopment of a South Miami public housing complex. The application comes as the Coconut Grove-based firm has seized on the state law that incentivizes development of apartments at affordable and workforce rents, with a flurry of new proposals.

Russell Galbut plans 410-unit Live Local Act project in Miami-Dade, amid rush on state workforce housing law

Russell Galbut’s GFO Investments plans a 410-unit Live Local Act apartment project in Miami-Dade County, as developers seize on the state affordable housing law. Miami-based GFO, the Galbut family’s office, proposes a 19-story building and a 16-story building with a seven-story, 950-space garage podium, and a seven-story medical office building on a 4.1-acre site at 7350 Coral Way…

Condo Building With 360-Degree Rooftop Reaches Completion In North Beach

North Beach’s 72 Park condo tower has obtained its TCO and reached completion, with residents moving in. 90 Percent of the building has been sold, according to the developer. Remaining units are priced from the $800,000s. 72 Park includes 206 luxury condo units, allowing short term rental flexibility. The building has a 360-degree rooftop with a sundeck and dining spaces.

Canero plans 54 townhouses in Homestead, amid surge of south Miami-Dade projects

The Canero Group is planning a 54-unit townhouse project in Homestead, aiming to appeal to Miami locals priced out by the area’s luxury boom. The Coral Gables-based firm scored Miami-Dade County’s approval for a total of 66 townhouses for the 2.7-acre site at 27800 Old Dixie Highway, but decided against using the total allotment, President Jose A. Canero confirmed.

Burger King Across From Brickell City Centre Renovated

A Burger King located in a strip mall across from Brickell City Centre has been renovated. Redevelopment has previously been proposed for the property, which is in a prime location. In 2017, Miami’s Planning & Zoning Department granted approval for a 78-story tower on the site called 18, designed by architect Nichols. The plan included 392 residential units with four levels of retail…

DOGE federal property purge may create redevelopment plays in South Florida

Elon Musk’s purge of nationwide federal properties owned and leased by the U.S. government is causing ripples in South Florida’s commercial real estate market. Already, a handful of federal office buildings in Miami and West Palm Beach could be hitting the market, and a couple of Miami-Dade and Broward leases have been canceled, as Musk’s Department of Government…

Lease roundup: Chicago grocery store on tap in Flagler Village, Manolo Blahnik coming to Miami Design District

The Miami Design District, an upscale shopping, dining and arts area developed by Craig Robins’ Dacra and its partners, scored a slew of tenants. Fendi, which previously had a space in the district, reopened an expanded store spanning 6,700 square feet at 150 Northeast 40th Street; and Beth Buccini’s Kirna Zabête opened a 3,000-square-foot store at 106 Northeast 40th Street…

$4.9M Sale of Wawa-Occupied Gas Station and Convenience Store in Davie Brokered

SRS Real Estate Partners has brokered the $4.9 million ground lease (land ownership) sale of a gas station and convenience store located at 2500 Davie Road in Davie. Pennsylvania-based chain Wawa fully occupies the 5,636-square-foot property on a corporate-guaranteed lease. The property was built in 2019 and is situated on 1.4 acres nearly 28 miles north of Miami.

Developer Proposes 325-Unit ‘Pembroke Oaks’ Under Live Local Act at 5434 W. Hallandale Beach Blvd in Pembroke Park

Fort Lauderdale-based Austin Fox Architecture is working alongside Riking Enterprises V LLC on a residential complex submitted through the Live Local Act. The multi-building Pembroke Oaks (among the tallest multi-family developments in the city, if approved) would comprise 582,950 square feet of new construction, featuring 325 residences among three buildings.

FCP JV Acquires in Sunrise

FCP, a Chevy Chase, Md.,-based real estate investment company, is expanding its presence in Florida with the acquisition of ARIUM Sunrise, a 400-unit community in Sunrise, Fla. The company made the purchase with partners BMC Investments and The RMR Group. The property sold for $90 million, or $225,000 per unit, according to Yardi Matrix data. The RMR Group…

Construction to Start on ‘Regency Park’ by Q4 at 809 N.E. 16th Avenue in Fort Lauderdale

Chicago-based Regency Development Group intends to start construction on a luxury townhome development by the end of this year. Regency Park would comprise 24 townhomes, each measuring three stories above grade. The three- and four-bedroom residences would span 2,930 to 3,077 square feet; in-unit features would include private elevators, ground-floor…

Construction Progresses at Marina Landings at 2300 SW 15th Avenue in Fort Lauderdale

Construction is advancing at Marina Landings, a 34-home single-family community in East Fort Lauderdale by 13th Floor Homes. The boutique gated development is now more than halfway complete, with the first residents expected to move in this spring. More than half of the community’s homes have now been sold and are completed as residents prepare for move-ins…

BH3 adds 200-plus units to its planned two-tower DNA project in Fort Lauderdale’s Flagler Village

BH3 Management proposes 844 units at its two-tower project in Fort Lauderdale’s Flagler Village, up 38 percent from its previous plan. Fort Lauderdale-based BH3 raised the number of units from 612 and made both towers 45 stories, rather than one 45-story tower and one 40-story tower, according to the city’s Development Review Committee meeting agenda. As a whole…

‘Casamar’ Primed for Summer 2025 Completion at 900 North Ocean Boulevard in Pompano Beach

Florida YIMBY has an update regarding Casamar, a 21-story beachfront tower that we first covered in 2022. The development broke ground in May 2023, slated to offer 119 luxury residences. Now, contractors are working on interior and sitework, gearing for a summer 2025 completion. The three- and four-bedroom homes at Casamar will span 2,982 to 3,934 square feet…

Vertical Construction Underway for Boynton Tropical in Boynton Beach

Vertical construction has commenced at Boynton Tropical, a 55+ active adult apartment community planned for Boynton Beach. Developed by Kolter Multifamily LLC, an affiliate of The Kolter Group, the project will introduce 210 rental residences alongside a 15,000-square-foot amenities package designed to promote active living and social engagement. Completion is expected…

Only in America! Don King slapped with foreclosure lawsuit alleging $5M default

A lender is going toe-to-toe with Don King, alleging the Donald Trump loving boxing promoter defaulted on a $5.3 million mortgage. An affiliate of Miami-based Blueprint Capital Partners filed a foreclosure complaint in Broward County Circuit Court against King and his entity Fairway Enterprises that owns a 46,467-square-foot warehouse at 501 Fairway Drive in Deerfield Beach…

Savanna lands $380M construction loan for Olara in West Palm

Savanna landed $380 million in construction financing for its waterfront Olara project in West Palm Beach. It marks a crucial milestone for the firm’s first South Florida development, more than two years after launching sales. Zeckendorf Development, Sculptor Real Estate, One Investment Management (OneIM) and Octo Capital provided the financing, according to a press release.

More mileage: Krause Auto buys two Palm Beach County dealerships for $31M

Krause Automotive Group is branching out to South Florida after acquiring a pair of Nissan dealerships in Palm Beach County for a combined $30.5 million. The Alpharetta, Georgia-based company, led by CEO Vernon Krause, acquired two automobile retail sites at 5353 Lake Worth Road in Greenacres, and 3870 West Blue Heron Boulevard in Riviera Beach for $17.5 million…

Florida bills aim to boost HOA and condo association oversight, ease structural integrity requirements

The Florida Legislature is considering bills this session that target two of the thorniest issues at condo and homeowners associations: alleged fraud and structural requirements. For decades, some communities have been hotbeds for board members’ alleged mismanagement and fraud. In the biggest fraud case in recent years, authorities in 2022 charged four former board…

GSEs and Their Counterparts – A Multifamily Agency Financing Primer

Federal Agencies in the Housing Finance Space – Who is Who? Federal Agencies and the Government Sponsored Enterprises (GSEs) are often cited in the multifamily housing space. From new rules to new incentives or grant programs, they are ubiquitous in the industry. However, the details of their functions can be a bit opaque for those who are new to the industry…

Q4 2024 Housing Affordability Update

Key Takeaways The national rent-to-income (RTI) ratio has steadily decreased over the last five quarters, reaching 27.6% in Q4 as the median household income continues to outpace rent growth.Increased housing supply and strong wage growth provide first-time home buyers more options despite elevated mortgage rates.The rise in inventory from higher completions…

Beige Book: Modest Economic Growth, Steady Employment in the Southeast

The Southeast economy continued to grow and employment held steady, while consumer spending dipped slightly, according to the new Beige Book. The Atlanta Fed’s latest report on economic conditions includes anecdotal feedback from January through mid-February. On the labor market front, little changed since the last report: headcounts remained mostly flat and…

Q4 2024 CRE Tech Market Performance Index

The national office market reverted back to increased vacancy rates after seeing a brief dip in the third quarter, as vacancies increased by 0.2% to 20.3% during the fourth quarter. Even with a rise in vacancy, rents also experienced growth of 0.2%. The following will not only discuss this data but also how layoffs in the tech sector stayed persistent. We have compiled a brief update…

Flood of policy changes in Washington befuddles bankers

With a flurry of executive orders being rolled out by the presidential administration, the international banking and finance industry waits to see if any established policies will be impacted. There’s quite a confusion as some of the changes as executive orders with potential rule changes continue to take hold, said David Schwartz, president and CEO of the Financial & International…

Inter Miami’s New Soccer Stadium Now Taking Shape

Inter Miami’s new stadium at Miami Freedom Park is now rising, a new photo shows. The 25,000 seat stadium is being built as part of a 130-acre development next to Miami International Airport. In addition to the stadium, the development will eventually have around 600,000 square feet of retail and restaurant space, and 750 hotel rooms. An 8-story 382,592-square-foot…

Updated Plans Filed for The HueHub, a 4,032-Unit Live Local Development in West Little River

Newly revised plans have been submitted for The HueHub, also known as Holland Park, a large-scale Live Local Act development at 8400 NW 25th Avenue in Miami-Dade County’s West Little River neighborhood. Designed by Arquitectonica and developed by 27th Ave Hollandpark Ecoresidences LLC, led by developer Pablo Castro, the mixed-use project continues to progress…

Brickell’s House Of Wellness Submitted For Site Plan Review

Plans to build a Brickell tower called House Of Wellness have been submitted to the county for site plan review. House Of Wellness was also submitted for zoning review on February 24 The site plan filing was submitted on March 4. Plans call for a tower rising approximately 47 stories, or 481 feet. A modern hotel with 832 lodging units will be housed within the tower.

South Florida pushed to make tech a core part of its economy. This didn’t yield new office tenants

In 2022, Dara Ladjevardian co-founded artificial intelligence digital clone firm Delphi in Miami, joining a wave of tech entrepreneurs moving to the city. “Miami was an incredible launchpad for Delphi — vibrant energy, a melting pot of cultures and a growing tech scene,” Ladjevardian’s digital clone (don’t ask) told The Real Deal. From late 2020 through 2022, venture capitalists…

Miami Dade’s 2025 Courthouse & 1928 Courthouse

A photo shows Miami-Dade’s new and old courthouses. The new courthouse is replacing the older one across the street. The older Dade County Courthouse was completed in 1928 and became the tallest building south of Baltimore. It was also the tallest municipal building in the United States. GFO Acquisitions LLC, which is a subsidiary of GFO Investments, has reportedly…

Construction Permit For Midtown 7 In Process

The construction permit to build the Midtown 7 building planned in Midtown Miami is now in review again. Construction permits typically require multiple review cycles before they can be approved. This is the fourth cycle of review for the permit. The process began in July 2023, and the last review cycle was completed in January. The building was submitted for UDRB review…

Miami Congressional District Among Top Income Tax Contributors

The congressional district that includes Miami is among the top contributors of federal income tax in the country. The analysis by Bloomberg looked at IRS data from 2022. The districts that paid the most in federal income tax that year were: New York’s 12th congressional district (NYC) – $27.3B California’s 18th congressional district (Silicon Valley area) – $27B…

262-Key Boutique Hotel Planned for Miami Beach’s Washington and Collins Corridor Moves Forward with Unanimous Approvals

Keyah Real Estate Group has unveiled plans for a 262-key boutique hotel, which includes renovating the historic Haddon Hall Hotel at 1500 Collins Avenue and constructing a new building at 1509-1515 Washington Avenue. The project has secured approvals from both the City of Miami Beach Planning Board and, most recently, the Historic Preservation Board, allowing it to move forward.

Lefferts Delivers 206-Unit Miami Beach Condo Tower

Lefferts has completed 72 Park, its 206-unit luxury condominium tower totaling 501,788 square feet in Miami Beach, Fla. The 22-story is now 90 percent sold, with Cervera Real Estate in charge of sales and marketing. The property is Lefferts’ first new luxury development that allows short-term rentals opportunities, as well as the company’s first of four developments to reach…

Miami Worldcenter name may get ride on Metromover station

The Park West Metromover Station could be renamed this week for the nearby Miami Worldcenter development without the county receiving naming rights payments or repayment of its costs in making the name change. The resolution by Commission Keon Hardemon to permanently name the 800 NE Second Ave. site the Miami Worldcenter Metromover Station comes…

Park West Metromover Station Proposed To Be Renamed

Miami-Dade could soon rename the Park West Metromover station. The new name of the station is proposed to be the Miami Worldcenter Metromover Station. A memo from county staff notes that Worldcenter is a massive development spanning multiple blocks and a mix of uses. Renaming the Park West Metromover Station as the Miami Worldcenter Metromover Station…

Shovels in the ground for city building in Miami Freedom Park

Miami’s new government headquarters is finally taking shape, with site work underway for a state-of-the-art administration building next to Miami Freedom Park that will provide the city’s first custom-designed offices and a modern hub for municipal operations. Groundbreaking Jan. 15 marked the start of a long-anticipated project to relocate the city’s administrative offices that…

History for Sale: Will historic Miami Shores church be acquired by a development company?

Miami Shores Community Church is a landmark. For decades, the bells of the oldest Christian meeting place in the village provided a musical soundtrack. The golden-hued bell tower was lit up, a beacon visible from far away. And it’s historic. In 1949, its white minister, Donald Douds, invited a Black colleague, the Rev. Edward T. Graham, to preach at the church for “Brotherhood Week.”

First Glass Installed At 41-Story Complex In Edgewater

Edgewater’s under-construction 2600 Biscayne tower has had its first glass installed as it continues to rise. The massive mixed-use development takes up a fully city block, one block away from a planned Northeast Corridor rail stop. The tower is planned to reach a height of 521 feet upon completion. It is planned to include 399 luxury apartments, 187,000 square feet of office…

75-Story Baccarat Residences Is Rising In Brickell

Brickell’s 75-story Baccarat Residences tower is continuing to rise, a new photo shows. Baccarat is approved to rise to a height of 848 feet above ground, which is taller than any existing building in Brickell other than Panorama Tower. A foundation pour took place in August The development will include 324 tower residences, 8 penthouses and 28 riverfront flats and duplexes.

12-Story Office Planned In Wynwood

Wynwood’s Design Review Committee is scheduled to have a hearing on a new office proposal next week. The 12-story project is named 161 Office. 161 Office is planned to include 45,666 square feet of office area, with an amenity floor. There will also be 25 parking spaces. Deforma Studio is the architect, with Lombardi Properties the developer. To see the full plans…

Doug Levine cashes out of another Wynwood project, sells office condos for $24M

Crunch Fitness founder Doug Levine is burning more weight off his commercial portfolio in Miami’s Wynwood neighborhood, selling office condos for $23.5 million. Levine, who leads Miami Beach-based Big Move Properties, sold the fully leased upper two floors of the three-story Wynwood Sky Office Building at 1900 Northeast Miami Court, Devlin Marinofff with Dwntwn…

Construction Commences on ‘The Current at City Center’ at 20505 S. Dixie Highway in Cutler Bay

Construction has started on part of a $1.5 billion redevelopment project that will transform Cutler Bay’s Southland Mall into Southplace City Center, a mixed-use venture that will feature residences, shopping, and communal gathering areas. Here’s what’s in store. The Current at City Center, located in Cutler Bay, will offer 350 residences; communal amenities will include a dog park…

JV Breaks Ground on $1.5B Miami Redevelopment in Cutler Bay

Joint venture partners American Landmark and BH Group have commenced construction on The Current at City Center in the southern Miami-Dade town of Cutler Bay, Fla. The development represents the initial step in a $1.5 billion redevelopment that, over the next seven years, will transform Southland Mall into Southplace City Center. Poised to redefine Cutler Bay’s…

Developer Signs Deal For 872 New Apartments in Edgewater After Strong Leasing

Another 872 apartments are planned to be connected to the water and sewer system in Miami, according to a newly completed utilities agreement. The agreement comes a few months after strong leasing was reported for the first of three towers planned at the development, known as Edgewater Collective. The first tower has 420 apartments in 36 stories. A grand opening…

Demolition Permit Activity At One Brickell City Centre Site

A total demolition permit for a building at the One Brickell City Centre site is back in review as of this morning. There’s now just one correction left to be made before the permit can be approved. There also appears to already be preparation for demolition underway at the building. Once the building is demolished, the One Brickell City Centre site will have been fully cleared.

Related scores funding from city of Miami for 98-unit affordable housing project in Flagami

Jorge Pérez’s Related Group scored an up to $5.7 million loan from the city of Miami for a 98-unit affordable housing project for senior residents in the Flagami neighborhood. On Thursday, Miami commissioners voted to award the funds from the Miami Forever Bond program for pre-development and construction costs for the second phase of Flagler Villas at 5350 West Flagler Street.

YouTuber Explores Why Many Americans Are Moving To Miami

A YouTuber with millions of subscribers has released a video documenting the migration of Americans to Miami. Peter Santenello’s latest video is titled: Inside Wealthy Miami – Why Are So Many Americans Moving Here? It features some of Miami’s thriving and fast developing neighborhoods, such as Edgewater and Brickell.

Groundbreaking Held for Fifth Street Pedestrian Bridge in Miami Beach

Construction has officially begun on the Fifth Street Pedestrian Bridge, a colorful, elevated walkway designed by French conceptual artist Daniel Buren to enhance pedestrian and bicycle connectivity in Miami Beach. The City of Miami Beach, in collaboration with developers Terra and GFO Investments, held a groundbreaking ceremony at 500 Alton Road to commemorate the milestone….

Hialeah Officials Approve Eight-Story Project for 552 East 26th Street

Hialeah city officials have greenlit a mixed-use project that would offer both retail and residences. The venture, which would occupy 5.6 acres, would measure eight stories above grade and feature 559 apartments. Five percent of those homes (about 28) would be reserved under the Hialeah Heroes Program, an initiative that aims to provide workforce housing for firefighters…

Electrical Permit Applied For At Brickell’s Santander Tower Site

A permit for temporary electrical power during construction has been applied for at Brickell’s Santander Tower site. The electrical permit application was submitted February 14 and is in prescreening. Santander is building a “landmark” 1.6 million square foot development on the property. The new 765-foot tower is being designed by Handel Architects and Bernardi & Peschard…

New Lighting System At 816-Foot Aston Martin Tower ~ Insta

A video by Due Italiani a Miami shows that a colorful lighting system has now been turned on at the recently completed Aston Martin Residences. Aston Martin Residences opened in April, becoming the second tallest building in Miami and all of Florida. The 66-story tower rises 816 feet. It includes 391 luxury condos.   View this post on Instagram   A post shared by Due Italiani…

Groundbreaking Ceremony Held For The Rider Residences

A groundbreaking ceremony took place for The Rider Residences across from Midtown Miami. The developer told the SFBJ that the condo units are about 30% sold. The Rider will rise 12 stories, and include 146 condos. Units will be delivered furnished, without rental restrictions. Rilea Group and Cipres are the developers.

Nightingale’s lender takes over Miami Beach building tied to Elie Schwartz scandal

A lender for Nightingale Properties is the new owner of a Miami Beach building that played a leading role in the downfall of Nightingale CEO Elie Schwartz. But Granite Point Mortgage Trust will likely draw buyers seeking a price discount for Lincoln Place, a distressed mixed-use project at 1601 Washington Avenue, brokers say. In a ground lease in lieu of foreclosure deal…

Surfside Approves Plans for Champlain Memorial

Almost four years after the tragic collapse of Surfside’s Champlain Towers South in 2021, the town commission has approved a final conceptual design plan for a memorial to honor the victims and their families. The memorial will be located at the end of 88th Street and Collins Avenue and across from the site of the collapse. After three conceptual designs that were…

Fraud accusations fly in Miami waterfront dev site foreclosure suit

A lender is accusing a Marlon Gomez joint venture of engaging in fraud to obtain a $10 million loan. An affiliate of Coral Gables-based The Fiorentino Family Office filed a foreclosure complaint last week Gomez, who leads Miami-based Gomez Development, two of his entities, Coral Gables-based Gumbo Limbo Holdings and its principals Fausto Callava and Antonio Pardo…

Lease roundup: Chef Michelle Bernstein and restaurateur David Martinez opened a restaurant at Palms at Town & Country; More…

Chef Michelle Bernstein and restaurateur David Martinez opened a new restaurant in Kendall. La Cañita leased 5,400 square feet at 8405 Mills Drive at the Palms at Town & Country Plaza in unincorporated Miami-Dade County, according to the tenant’s news release. The space seats about 180 guests. Jason Sims of Serhant represented the tenant. Maggie Reyes of The Shopping Center…

David Beckham, partners in $1B Miami Freedom Park allegedly owe $590K in pre-construction services

Development of the $1 billion Miami Freedom Park is off to a rough start with a contractor alleging its owners haven’t paid a past due six-figure bill. Indianapolis-based Hunt Construction Group, led by CEO Robert Hunt, sued Coral Gables-based Miami Freedom Park LLC in Miami-Dade Circuit Court last month for allegedly skipping out on three invoices totaling…

Foreclosure woes worsen for Raoul Thomas’ CGI Merchant Group

Investor Raoul Thomas is having a hard time stemming the collapse of his commercial real estate portfolio. Recently, Thomas’ CGI Merchant Group lost its Coconut Grove headquarters at a foreclosure auction, and is now one step closer to losing 65 commercial units at a Coral Gables mixed-use building. Before the latest blows, CGI Merchant lost a Gabriel-branded…

Lincoln Property JV Buys Weston Food Distribution Facility for $44M

The cross-dock facility at 1600 N. Park Drive features 25-foot clear heights and ample vehicle and trailer parking spaces. Image courtesy of Lincoln Property Co. Lincoln Property Co., in joint venture with Walton Street Capital, has purchased a 226,392-square-foot distribution center for $43.8 million in Weston, Fla. The buyer assumed a $41.8 million loan and increased it to…

Developer Proposes ‘Blue Park’ for Hallandale Beach

Four parcels comprising 1.47 acres could soon be transformed into a multi-family housing development in Hallandale Beach. 221 Developers LLC has proposed an eight-story building that would comprise 274,000 square feet of new construction. Plans for “Blue Park” call for 185 homes; layout plans span studio to two-bedroom units, along with eight ground-floor…

White Oak scores $67M construction loan for 286 apartments in Davie, amid South Florida multifamily supply overhang

White Oak Development scored a $67 million construction loan for a 286-unit apartment project in Davie. Coral Springs-based White Oak and Los Angeles-based Ares Management plan a pair of four-story buildings and a four-story garage with about 480 spaces at 4181 and 4233 Davie Road, according to city records. Last week, an entity tied to White Oak bought the 4.1-acre site…

Joint Venture Finalizes Major Office Transaction at 401 East Las Olas Boulevard

A joint venture comprised of Lone Star Funds, Highline Real Estate Capital, and Square2 Capital has acquired 401 East Las Olas Boulevard—also known as Bank of America Plaza at Las Olas City Centre—in what is considered Fort Lauderdale’s largest office transaction of the past ten years. The 23-story, 410,561-square-foot Class AA tower sits on a full city block in the heart of the Las Olas…

Integritas proposes 57-story hotel, apartment tower in Fort Lauderdale, as investment in the city intensifies

Integritas Capital proposes a 57-story tower with apartments and a hotel in Fort Lauderdale, as investment and development intensifies in the city. The New York-based firm filed a site plan for 550 apartments and a 253-key branded hotel at the tower’s podium at 111 Southwest Third Avenue, said Stephen Palmese, who leads Integritas. Brooklyn-based Heights Advisors…

Regency launches sales of luxury townhouses in Fort Lauderdale’s Victoria Park

Regency Development Group is launching another residential project in South Florida. The Miami-based firm kicked off sales for Regency Park, a 24-unit townhouse development planned for the assemblage at 809 Northeast 16th Avenue in Fort Lauderdale, said Michael Troyanovsky, a managing partner at Regency Development Group. The site runs along 16th Avenue…

Industrial vs yachts: Boat storage owner plans to replace Dania Beach marina with spec warehouses

The owner of a boat storage facility in Dania Beach plans to replace the property’s marina with two spec warehouses. Banyan Bay Marine Center won site plan approval Tuesday for the development of two warehouses with a total of about 170,000 square feet, in place of the marina. “The site hasn’t gone out to market yet to potential tenants,” Tracy Slavens…

FCP buys 400-unit Sunrise apartment complex for $90M, amid slow investment sales so far this year

FCP bought a 400-unit apartment complex in Sunrise for $90 million. Chevy Chase, Maryland-based FCP bought the Arium Sunrise complex at 1501 Northwest 124th Terrace from Los Angeles-based PCCP and Newton, Massachusetts-based RMR Group, according to records and real estate database Vizzda. The deal breaks down to $225,000 per unit.

Vertical Construction Underway for Apex Logistics Park at Delray in Palm Beach County

Vertical construction is now underway for Apex Logistics Park at Delray, a 200,000-square-foot Class A logistics development in Delray Beach, Florida. The project, led by Altman Logistics Properties in partnership with PCCP, marks the first phase of a larger industrial complex that could eventually total up to 672,000 square feet across three buildings.

Lotis nabs another construction loan for Wellington mixed-use project

Lotis Group landed a $28.2 million construction loan for a Wellington mixed-use project. Amerant Bank provided the financing for the commercial portion of The Square & Residences at Lotis Wellington, which will consist of 60,000 square feet of medical offices and 61,400 square feet of retail space, including restaurant outparcels, a press release states. Sean Harrington…

Developer Proposes High-Rise Residential Tower for 3930 North Ocean Drive in Riviera Beach

HHC Singer Island LLC has proposed a high-rise luxury tower on an oceanfront property in Palm Beach County. The 20-story development calls for approximately 188,950 square feet of new construction and would offer 52 condos. At the time of publication, our sources did not reveal measurements or layouts. The complex would offer 121 parking spots (2.33 per residence), along…

EB-5 investor program may expand as Gold Card visas eyed

With its shift to come under the Secretary of Commerce, the EB-5 Immigrant Investor Program could potentially expand and have more visas made available to attract foreign investment. By bringing it to the attention of the commerce department, the intended result is to see the program expanded and more visas made available – something that has long been desired by industry…

25% Tariffs On Mexico And Canada Begin, Adding Uncertainty To CRE Outlook

https://www.bisnow.com/national/news/commercial-real-estate/trump-to-implement-25-tariffs-on-mexico-canada-128313 President Donald Trump imposed 25% tariffs on Canada and Mexico starting Tuesday, ruling out an eleventh-hour deal to avoid penalties on some of the country’s top trading partners — a measure that will reverberate through commercial real estate.

Commercial Lenders Sharpen Their Pencils

Sometimes, you just know when it’s time.  For all the number crunching, quantitative analysis and formulaic modeling that their job demands, commercial real estate lenders are harnessing the qualitative and intangible factors as they prepare to boost deal volume in 2025.  Vibe, sentiment, intuition — call it what you want, but there’s an emerging sense within the commercial…

Strong Job Gains Meets High Apartment Supply Across Florida

Job growth has been significant across the state of Florida in the current cycle, which would typically lead to solid apartment occupancy and rent growth. But apartment performance in the Sunshine State has been subdued by staggering new supply volumes. Florida added 950,000 jobs in the 2020–2024-time frame, according to data from the Bureau of Labor Statistics.

Proposed housing bills expand on Florida’s Live Local Act, further reducing local government authority

Florida Rep. Vicki Lopez filed two housing bills that would ease the development of Live Local Act and other affordable housing projects. Lopez, a Miami Republican whose district includes Key Biscayne, is sponsoring House Bill 943, called Real Property and Land Use Development, and House Bill 923. The legislative session started on Tuesday, and both bills were read…

The Yellow Brick Road to Opportunity Zones

If you’re an investor and don’t know what an Opportunity Zone (OZ) is, you should. This legislation has been in place since 2017 and aims to increase investment in disadvantaged areas across the United States. As of 2022, the program has attracted over $100 billion in capital. While the current legislation has successfully attracted capital, it has specific deadlines. As we approach those…

Industrial Property Rents Start The Year Strong

Rents for industrial space were up nationwide to start the year while U.S. manufacturing has been expanding, according to CommercialEdge. Rents averaged $8.35 per square foot across the U.S. in January, up 6.8% compared to a year earlier, reported CommercialEdge, a division of Yardi. Industrial rents vary tremendously by region, with several cities…

Xebec Realty slashes Miami industrial portfolio in half, sells warehouse for $27M

Xebec Realty Investments is down to one warehouse project in Miami-Dade County after selling a Liberty City industrial property for $26.8 million. Dallas-based Xebec Realty, led by CEO Randy Kendrick, sold a 85,483-square-foot facility built in 2023 at 1010 Northwest 72nd Street, records and real estate database Vizzda show. The buyer is an entity managed…

Tech Company Varonis with 2,400 Employees Moves HQ To Brickell

A technology company listed on the Nasdaq is moving its headquarters to Miami. Varonis signed a lease for 17,900 square feet at 801 Brickell, which will become its new HQ. The SFBJ reported that the office is currently being built out, with move-in scheduled in the third quarter. The company is already listing the Brickell address as its HQ on its website. The company has…

Constellation, Boschetti switch Coral Gables multifamily project to “wellness condos”

Eduardo Otaola and Jose Boschetti are launching sales for Cora, a planned wellness-focused condo project in Coral Gables. Otaola’s Constellation Group and Boschetti’s Boschetti Group are planning the 13-story, 74-unit Cora for 4241 Aurora Street, according to a press release. The building will have 8,000 square feet of ground-floor retail and 13,000 square feet of offices…

Futuristic Office Building 3050 Aventura Designed By Foster + Partners Tops Off

A futuristic office tower designed in the form of two interlocking pyramids has topped off. Architect Foster + Partners is designing the 12-story, 237-foot building, which will have a glass façade. The building is known as 3050 Aventura. It will have three levels of subterranean parking, with 386 spaces. A grand entrance hall is planned on the ground floor, with a ceiling of over 37 feet.

First Permit Approved For 544-Unit Residential Tower Planned In Edgewater

Miami’s Building Department has issued a tree permit for 1775 Biscayne Boulevard, where an apartment tower is planned. A 42-story tower is planned on the property with 544 rental apartments, 10,106 square feet of ground-floor retail, and a 628-space parking garage. The tree permit was approved on February 21. There’s also new activity on a site work permit, master construction…

Site Work Permit Applied For at 57-Story Edge House Property

A site work permit application has been filed for the property where the 57-story Edge House Miami tower is planned. The site work permit application was submitted on February 19. As of this morning, it had not yet progressed to the review phase. Thornton Construction Company, Inc. is listed as the contractor. Edge House is planned to rise 637 feet above ground.

Supertall 81-Story Tower at 1414 Brickell Submitted for Zoning Review in Miami

A zoning application was recently filed with Miami-Dade County for the planned 81-story supertall at 1414 Brickell. Designed by Arquitectonica and developed by 1414 Brickell, LLC, with Walter Defortuna listed among the stakeholders, the mixed-use skyscraper would rise rise 1,010 feet and comprise 560 residential units, 84 hotel rooms, 145,950 square feet of office space…

Domus Brickell Park Tops Out at 12 Stories in West Brickell

Construction has topped out at Domus Brickell Park, a 12-story short-term rental-friendly condominium rising in Miami’s West Brickell district. The project, developed by North Development, reached the milestone in collaboration with general contractor Thornton Construction and exclusive sales broker Cervera Real Estate. Located at 1611 SW 2nd Avenue, Domus…

‘Blu Aventura Apartments’ First Phase Under Construction at 2335 NE Miami Gardens Drive

Our sources have pointed to a mixed-use project currently under construction in Miami-Dade County. Blu Aventura Apartments will comprise two phases. The first phase, which involves the construction of the “west wing”, will feature 23,954 square feet of retail and 350 apartments. Construction is expected to wrap up in next year’s second quarter. Zillow shares that prior…

Block Capital’s Wynwood dev site hits market with $16M asking price

The Miculitzki family’s Block Capital is looking to shed a prime development site at 100 NW 25th Street in Miami’s Wynwood neighborhood. Miami-based Block Capital is listing a 16,866-square-foot retail building that could be redeveloped into a five-to-eight-story mixed-use project. The site has an asking price of $15.5 million, according to an online marketing brochure.

MMG Equity scores approval for 38 townhouses on West Kendall site previously planned for apartments

MMG Equity Partners scored approval for a complex with 38 townhomes and retail in West Kendall, marking a change from its previous plan for apartments. The project, called Coral Nest, will consist of two-story townhomes and 24,500 square feet of retail on a 6.5-acre site on the northwest corner of Southwest 144th Avenue and Coral Way, according to an MMG news release.

70-Story Call 8 Brickell Site Seen Weeks After Scoring Key Approval

A photo taken last night shows the site where the 70-story Calle 8 tower is planned. A gas station is still operating on a portion of the site. Earlier this month, Miami-Dade commissioners voted unanimously to approve a special exception for a general development plan for Calle 8. Zoning review for the new tower by Miami-Dade began in January 2024, while site plan review began…

Wynwood Works Reaches Completion With 120 Units

A ribbon cutting ceremony was held yesterday for Wynwood Works, according to the Omni CRA. Wynwood Works rises 12 stories and includes: 120 apartments 5,698 square feet of ground-floor retail 102 parking spaces in a 5-level garage Units are income restricted, and range from 445 to 774 square feet. To see a video of the completed building…

Developer Buying Site Near Brickell City Centre, 720-Foot Condo Tower Planned

Prosper Group, led by Jay Roberts, has signed an agreement to buy a condo development site near Brickell City Centre. A new 59-story, 720-foot tower is planned, with a luxury brand partner… A joint development partner will also be announced. The purchase includes three sites, including one on the Miami River, and two across the street at 66 SW 6th Street and at 625 SW 1st Avenue.

Prosper Group Inks Contract for Three-Parcel Acquisition Near Brickell City Centre, Paving Way for 59-Story Riverfront Condo Tower

Jay Roberts, CEO of Miami Beach-based Prosper Group, is in contract to acquire three prime parcels totaling one acre along the Miami River, adjacent to Brickell City Centre. The properties, located at 66 SW 6th Street, 625 SW 1st Avenue, and an additional riverside site, were purchased from 99SW7 Holdings LLC, a joint venture between Newgard Development Group…

Two deals to remake Watson Island face city votes

The transformative sale of a parcel on Watson Island’s north side is on the verge of closing, ushering in luxury residences, 13 acres of public greenspace overlooking Biscayne Bay and millions in community benefits. The Miami City Commission is voting today (2/27) on a major land deal that would reshape Watson Island with a high-end residential project while delivering…

Lease of 51,484 SF Office in Miami’s Waterford District Arranged for Verizon

Blanca Commercial Real Estate (Blanca CRE) has arranged a 51,484-square-foot office lease for Verizon in Miami. Juan Ruiz, Andres del Corral, Jack Davidson, Tere Blanca and Jessy Aguila of Blanca CRE represented the property’s ownership, a joint venture between Nuveen Real Estate and PIMCO Prime Real Estate, which acts on behalf of Allianz insurance companies.

Verizon leases at Waterford Business District after selling its HQ near Doral

Verizon will move its offices to the Waterford Business District near Miami International Airport, after selling its headquarters near Doral. The telecommunications firm leased 51,500 square feet at 5200 Waterford District Drive, where it will move in July of next year, according to a news release from the landlords’ brokers. The deal is the biggest office lease so far this…

1000 Boulevard of the Arts Announced in Sarasota’s Waterfront District

Kolter Urban has announced 1000 Boulevard of the Arts, a 20-story mixed-use development set to bring 117 luxury condominiums and a Hyatt Centric® Harborside hotel to Sarasota’s waterfront district. Located at 1000 Boulevard of the Arts, the project will introduce a blend of upscale residential living and hospitality within the city’s Arts and Culture District.

Self-storage facility owner backed by Easton faces $22M foreclosure

A self-storage facility owner backed by Doral-based Easton Group is in danger of losing a seven-story warehouse in Miami’s Allapattah tied to a $22.1 million mortgage. An affiliate of Uniondale, New York-based Acres Capital filed a foreclosure complaint in Miami-Dade Circuit Court on Tuesday against Howard Pryor, president of Miami-based Forge Real Estate, and two entities he manages.

Construction Underway for Ocean House, a 25-Unit Condominium in Surfside

Multiplan Real Estate Asset Management (REAM) has broken ground on Ocean House, a 25-unit luxury condominium at 9317 Collins Avenue in Surfside. Designed by Arquitectonica with interiors by Carla Guilhem, the boutique oceanfront development is set to rise six stories and offer residences ranging from 2,093 to 6,279 square feet, with pricing starting at $5 million.

Developer Seeks Funding for Second Phase of Flagler Villas at 5350 W. Flagler Street in Miami

Just more than a month after Flagler Villas broke ground in Miami-Dade County, Related Urban Development Group has proposed the venture’s second phase, which would be located a block away. Plans call for 98 one-bedroom and two-bedroom apartments, aimed at seniors earning 30 percent of the area median income (AMI). According to Miami-Dade County records…

Southpointe Vista Phase I Completes Construction in Miami-Dade, Phase II Begins

McDowell Housing Partners (MHP) has completed construction on Southpointe Vista Phase I and secured financing for Phase II, marking the next step in a multi-phase affordable housing development in Miami-Dade County, near Cutler Bay. The project will introduce a total of 332 units across two buildings, providing housing for families and individuals earning at or below 70%…

Supertall 81-Story Brickell Tower Submitted For Zoning Review

A zoning review application has been submitted to Miami-Dade for an 81-story mixed-use tower at 1414 Brickell. According to the February 20 filing, 1414 Brickell is planned to include: 560 residential units 84 hotel units 145,950 square feet of office 6,038 square feet of retail 1,226 parking spaces in an 11-story podium The top of the tower is planned to reach a supertall height…

Weekend Foundation Pour For Downtown 6 Miami Tower with 824 Apartments

A foundation pour was scheduled this past weekend for the 58-story Downtown 6 tower in downtown Miami. A total of 2,400 cubic yards of concrete were planned to be poured beginning at 11 PM on Friday night, according to a social media post by shell contractor L&R Structural Corp. Downtown 6 is being developed by Melo Group, which also built the two 52-story Downtown 5…

Miami Jewish Health plans 192-unit senior living complex in Miami’s Buena Vista

Miami Jewish Health plans a 192-unit independent senior living complex at its existing campus in Miami’s Buena Vista. The project, called FiftyTwoNorth, will consist of a pair of five-story buildings and an 11-story building at 5200 Northeast Second Avenue, all geared to residents who are 62 and older, according to Miami Jewish Health. The nonprofit is partnering with…

The Standard Residences Brickell 10% Sold: New Renderings

The developer of the 45-story The Standard Residences, Brickell has released new details and renderings. Buyer response has been strong, the developer said. There are now 32 reservations executed and 5 more out for signature, marking nearly 10% of the residences spoken for. Plans call for 422 condo units, a 45th floor rooftop lounge, amenities, and a restaurant.

Edgewater dev site in Miami hits market for $32M, as partners abandon plans for mixed-use tower

A group of developers are scrapping plans for a mixed-use tower in Miami’s Edgewater and are listing the site with an asking price of $32 million. Karl-Ulrich Ansorg, Yakov Elbaz, Ofir Gabriel and Amit Kort retained Michael Hinton with Lee & Associates to market the 0.8-acre assemblage at 3350 Biscayne Boulevard and 234-264 Northeast 34th Street, a press release states.

$25.75 Million Sale-Leaseback Transaction Completed in Doral/West Airport Market

Digiacomo Group successfully represented the seller, Sun Belle, LLC, in the $25,750,000 sale-leaseback of 2323 NW 72 Ave, a premier industrial facility located in the highly sought-after Doral/West Airport Market. The 82,261-square-foot coolered facility, situated on a 3.34-acre lot east of Milam Dairy Road, was acquired by Iconic Equities, LLC, a Miami-based real estate…

$25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport Arranged

Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Ave. in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial…

IP Capital boosts industrial portfolio, paying $26M for its first Miami cold storage facility

IP Capital Partners boosted its industrial holdings in South Florida, acquiring a cold storage facility near Miami International Airport for $25.7 million. A JLL team led by Cody Brais and Luis Castillo represented Boca Raton-based IP Capital, led by Jason Isaacson and Josh Procacci, in acquiring the 77,607-square-foot warehouse at 2323 Northwest 72nd Avenue…

Vertical Construction Permit Approved for 67-Story JEM Private Residences at Miami Worldcenter

A full vertical permit (Phased Permits – Phased Class I) has been approved for JEM Private Residences at 1016 Northeast 2nd Avenue, also addressed as 175 NE 10 Street, in the 27-acre Miami Worldcenter district. The newly granted permit clears the way for superstructure work on the 67-story mixed-use tower, designed by Arquitectonica and developed by Naftali Group.

CLAUDIE Brings French-Mediterranean Dining to 1101 Brickell in Miami’s Financial District

Florida East Coast Realty (FECR) has announced the opening of CLAUDIE, a French-Mediterranean restaurant by Riviera Dining Group (RDG), at 1101 Brickell. The restaurant occupies 10,000 square feet of indoor and outdoor space on the ground floor of the 300,000-square-foot twin office towers, adding a refined dining experience to Miami’s Financial District.

Miami Beach City Officials Greenlight Hotel Redevelopment at 1500 Collins Avenue in Miami Beach

The City of Miami Beach Planning Board and the Historic Preservation Board have approved the redevelopment of Haddon Hall, a 1940s-era hotel that’s currently operating as Axel Beach Miami-South Beach. The organizations unanimously gave Keyah Real Estate Group’s plans the greenlight for a seven-story, 262-room hotel.

Miami Ranked 2nd Among Top Targets for Commercial Real Estate Investment in 2025, Survey Finds

A recent survey of commercial real estate investors ranked Miami #2 among the most attractive markets for investment for the second consecutive year, according to CBRE’s 2025 U.S. Investor Intentions Survey. Investors are strategically focusing on gateway markets offering discounts and high-growth Sun Belt markets. Miami ranked just behind Dallas, which maintains…

Retail Space Sells for $2.4M at The Rider Residences in Miami’s Midtown-Wynwood Corridor

Miami-based developers Rilea Group and Ciprés have closed on a $2.4 million sale for a 1,704-square-foot retail space at The Rider Residences, a 12-story, 146-unit condominium planned at 94 NE 29th Street at the intersection of Midtown and Wynwood. The sale price equates to $407 per square foot, marking the second-highest retail sale price per square foot in the area…

Terra Breaks Ground on Upland Park in West Miami-Dade, A $1 Billion Transit-Oriented Development

Terra has officially broken ground on Upland Park, a $1 billion mixed-use community that will transform the Dolphin Park-and-Ride Transit Terminal Facility into a 47-acre, transit-oriented development. Conceived in partnership with Miami-Dade County, the project will bolster public transit ridership while anchoring the new East-West Corridor of the County’s SMART…

Miami-Based Developer Proposes Complex with Workforce Housing at 8445 S.W. 94th Street in Kendall

A Miami-based developer has filed a pre-application for a multi-family housing community in Kendall. 8445 Galloway LLC wants to proceed with a six-story apartment building, requiring 53,218 square feet of new construction. Current plans call for 41 residences—10 of which would be designated as workforce housing. According to Miami-Dade County records, a family of four…

Development district to finance Freedom Park improvements

The 58-acre public park promised in the Miami Freedom Park project will be backed by a dedicated fund and district, securing its maintenance, while officials are also committing $10 million in future funding to improve parks across the city. During the Feb. 13 meeting, the Miami City Commission approved two resolutions to secure funding for the maintenance…

Noguchi-designed fountain flows again, but higher, in Bayfront Park

Water is once again flowing through the newly renovated fountain at Bayfront Park, where its historic design meets modern enhancements. City officials gathered at Bayfront Park last week for an evening ribbon-cutting ceremony as the sunset and the Mildred and Claude Pepper Fountain’s vibrant, colorful display took centerstage. After decades of disuse, the iconic downtown…

Shoreline Review Application Submitted for 39-Story ‘Isle of Dreams’ at 1400 79th Street Causeway

A shoreline development review application has been submitted for Isle of Dreams, a 39-story mixed-use tower planned at 1400 79th Street Causeway in North Bay Village. Developed by Sunbeam 1400, LLC, an affiliate of Sunbeam Television,  and designed by Arquitectonica, the project marks the first phase of the Sunbeam NBV Special Area Plan (SAP), which was approved in 2022.

Lease roundup: Monarch, Tourmaline score Eastdil, Varonis and other office tenants in Brickell

Monarch Alternative Capital and Tourmaline Capital Partners scored five new leases and two renewals at their Brickell office tower. In the biggest deal, New York-based cybersecurity firm Varonis leased 17,900 square feet at the 28-story building at 801 Brickell Avenue, according to a news release from the landlords’ broker. Also, investment manager Fengate Capital…

Targeting Broward industrial sites, Walton Street and Lincoln Property buy former Bang Energy Weston HQ for $44M

Walton Street Capital and Lincoln Property Company are gunning for Broward County industrial sites, paying $43.7 million for a Weston warehouse four months after acquiring a Sunrise facility for nearly $19 million. Chicago-based Walton Street, led by Eric Mogentale and Jeffrey Quicksilver, and Dallas-based Lincoln Property, led by Clay Duvall and David Binswanger…

Kimco wants to replace movie theater with sporting goods store at Oakwood Plaza in Hollywood

Kimco Realty plans to replace a movie theater at its aging Hollywood shopping center with a 120,000-square-foot Dick’s Sporting Goods store. It would be the first phase of Kimco’s planned long-term redevelopment of the Oakwood Plaza just east of I-95 between Sheridan Street and Stirling Road. Kimco, a Jericho, New York-based real estate investment trust, is seeking approval…

City Officials to Consider Rezoning Request for Mixed-Use Project at 426 N.E. 5th Street in Hallandale Beach

Hallandale Beach’s Planning and Zoning Board (PZB) intends to review a proposal that would replace a trailer park with a mixed-use venture. Seville General Partners, which owns the 8.5-acre property that currently hosts the Seville Mobile Home Park, is seeking a rezoning change that would allow residences and retail and office space. Civil engineer Kimley-Horn has created…

Coastline hit with $5.8M foreclosure on Hallandale Beach dev site, as South Florida debt woes continue

A developer planning a medical office building in Hallandale Beach was hit with a $5.8 million foreclosure suit on the site. The case comes as debt woes, including foreclosures and bankruptcies, continue in South Florida amid elevated interest rates, skyrocketing insurance, an office and apartment leasing slowdown and other economic headwinds.

Developer plans 750-unit multifamily project in Hallandale Beach, amid continued redevelopment of South Florida mobile home parks

A developer could replace the Seville Mobile Home Park in Hallandale Beach with a 750-unit mixed-use, multifamily project, amid a surge in the redevelopment of South Florida mobile home communities. Seville General Partners, led by Paul Rosen, is asking for a rezoning of the 7-acre site at 426 Northeast Fifth Street and 515 North Federal Highway that would allow for six mid-rise…

Developer Seeks $6M CRA Incentive for 121-Unit Mixed-Use Project in Historic Sistrunk Neighborhood in Fort Lauderdale

A local developer is seeking $6 million in incentives from the Fort Lauderdale Community Redevelopment Agency (CRA) to support a mixed-use development in the Historic Sistrunk neighborhood. The proposal, part of the CRA’s Development Incentive Program, aims to stimulate economic growth in the historically Black community located just west of Flagler Village.

Related lists Fort Lauderdale apartment tower for $230M

Related Group is ready to sell a recently completed apartment tower in downtown Fort Lauderdale, asking nine figures. The Coconut Grove-based development firm, led by Jorge Pérez and his sons Jon Paul and Nicholas Pérez, is listing Veneto Las Olas at 201 South Federal Highway with an asking price of $230 million, said CBRE’s Robert Given.

DWS Sells Fort Lauderdale Office Tower for $220M

The office building at 401 E. Las Olas Blvd. rises 23 stories in Fort Lauderdale, Fla.’s financial district. Image courtesy of Square2 Capital The partnership of Highline Real Estate Capital, Square2 Capital and Lone Star Funds has acquired 401 E. Las Olas Blvd. in Fort Lauderdale, Fla.’s financial district. CBRE represented the seller of the 410,561-square-foot office…

Pompano Beach Porsche dealership scores $52M construction loan for new showroom and offices

Champion Porsche is fueling up construction of its new Pompano Beach home after nabbing a $52 million loan. Wells Fargo Bank provided the financing to the luxury car dealership’s owner, Copans Motors, led by Mitra Maraj, records show. Copans’ general contractor, Fort Lauderdale-based Stiles Corporation, recently broke ground on the planned two-story building…

Related Ross Seeks Rezoning for Mixed-Use Development at K Park Site in Wellington

A rezoning application is moving forward for a 66.3-acre site in Wellington, where Related Ross, led by billionaire developer and Miami Dolphins owner Stephen M. Ross, plans to develop a large-scale mixed-use project. The site, K Park, is located at 10400 Stribling Way and is currently designated for community facilities and commercial uses. The Village of Wellington’s Planning…

Video: Costar Director of Office Analytics Phil Mobley Provides Office Sector Update, Forecast & Opportunities

The State of the Office Market in 2025: Trends, Challenges, and Opportunities The office real estate sector continues to evolve in the wake of economic shifts, interest rate fluctuations, and changing workplace dynamics. Recently, America’s Commercial Real Estate Show, welcomed Phil Mobley, National Director of Office Analytics at CoStar, to discuss the current state of the office market…

Climate Change Definitions & Progress – A New Climate Series for CRE Professionals

Last Week, J.P. Morgan launched a new climate series, called Climate Intuition. The initial piece, “Navigating the new climate era: Building intuition for strategic decision-making,” provides a baseline with definitions of common climate terms and how they’re connected to economic and business activity. It’s written by climate scientist Dr. Sarah Kapnick who returned…

Construction Contractor Perspectives In the Age of Tariff Threats

Following up on our General Contractor Survey it’s a tale of apprehensive optimism. To begin on a positive note, 54% of our 13 surveyed general contractors anticipate that in 2025 they will have more work than in 2024. Only one of the 13 said they would have less work. I read a couple of insights into this statistic. First, for contractors, 2024 was a slower year than anticipated…

CMBS Troubled Loan Tracker: A Calm Start to 2025 After a Tough 2024 

Summary Over the second half of 2024, several challenges for commercial mortgage-backed securities (CMBS) borrowers manifested in delinquency rates that ticked up persistently month-over-month. The predominant headwinds continued to be high interest rates, significant maturities, slowing growth in property revenues, and a grueling, slow recovery for the office sector.

Video: Density CEO Andrew Farah Discusses Measuring Utilization in Government Buildings

Analyzing the Future of Federal Real Estate The federal government is one of the largest users of commercial real estate in the United States, with a vast portfolio managed largely by the General Services Administration (GSA). On a recent episode of America’s Commercial Real Estate Show, the show’s host sat down with Andrew Farah, co-founder and CEO of Density…

Prologis Says Warehouse Leasing Rises After U.S. Election Eases Uncertainty

The world’s largest industrial developer and landlord said a burst of leasing since the U.S. November election has bolstered the company’s expectations for accelerating warehouse demand this year. Prologis signed a company record of more than 60 million square feet of leases in the fourth quarter, with most of the deals signed in the weeks after the Nov. 5 election reduced…

For Some CRE Owners, Insurance Now Gobbles Up Double the Revenue 

Since around 2018, property insurance costs began a steady march upward, almost universally across commercial real estate (CRE), broadly forcing property owners and lenders to strategically confront the reality of soaring premiums and shrinking availability. But much of CRE has also enjoyed significant rent growth, which has seemingly muted the overall impact to bottom line…

Florida bill would scrap Citizens insurance for condo associations that fail safety rules, boost financial transparency over condo-hotels

Florida Rep. Vicki Lopez filed a bill that would limit the state’s insurer of last resort, Citizens Property Insurance, to condo associations that are abiding by safety laws passed after the deadly Surfside collapse. House Bill 913, filed by Lopez, a Republican whose district includes Key Biscayne, takes aim at other aspects of the state Condo Act, including seeking to impose…