Aria Reserve’s First 62-Story Tower Reaches Completion ‘In Record Time’
Melo Group has completed the first 62-story tower at Aria Reserve. Martin Melo, Co-Principal at The Melo Group, said the first tower was delivered in record time. “We’re moving rapidly toward the completion of the North Tower,” he added. Groundbreaking for the first tower took place in May 2002, with a foundation pour in February 2023. Aria Reserve will eventually…
The Miami Underline Breaks Ground On Phase 3 Recreational Facilities
The Underline held groundbreaking ceremonies earlier this month for new health, wellness, and play areas. The new areas will be integrated into Phase 3 of the 10-mile linear park and urban trail, which runs beneath and around the elevated Metrorail tracks. Construction is now officially underway on The Underline’s Pineland Courts & Fitness Room Sponsored by Baptist Health…
New Whole Foods Set To Begin Construction In South Beach
A large new Whole Foods Market will soon begin construction in South Beach, according to the SFBJ. Ocean Bank said it had agreed to provide $54M in construction financing for the building, the report said. Construction permitting began earlier this year, city records show. The new store will be located on property currently occupied by a Wells Fargo Bank at 1901 Alton Road.
Continuum Waterfront District Approved In North Bay Village
Continuum Company has received approval from the North Bay Village Commission for the Continuum Waterfront District . The Continuum Waterfront District is planned to include: Two Continuum condo towers A boutique hotel with restaurants, spa, fitness, and office space A renovated marina, wellness areas, and civic gathering spaces Ground-floor retail…
Oak Row scores $211M construction loan for Edgewater apartment tower
Alex Karakhanian’s Lndmrk is a co-developer of the 324-unit project Oak Row Equities scored a $210.5 million construction loan for a 324-unit multifamily tower in Edgewater, The Real Deal has learned. The deal comes amid a South Florida construction financing flurry, which has continued despite higher interest rates and a slowdown of apartment lease-ups due to record recent…
Oak Row Equities has secured $210.5 million in construction financing for 2900 Terrace, a 324-unit high-rise apartment tower in the Edgewater neighborhood of Miami. The financing package includes a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate LLC. Christopher Peck, Brian Gaswirth…
Developer Secures $210M To Build ‘New Category Of Luxury Rentals’ In Edgewater
Groundbreaking will take place imminently for a luxury apartment tower in Edgewater after the developer secured construction financing, according to a press release. Developer Oak Row Equities closed on $210.5m in construction financing to build 2900 Terrace. The new 38-story building will become “premier luxury multi-family tower in Miami’s Edgewater neighborhood,” the release…
Mast Capital, BH close on Coconut Grove bulk condo deal at 2445 South Bayshore Drive
Developers now control more than 75% of condos, plan to redevelop the site BH Group’s Isaac and Liat Toledano and Mast Capital’s Camilo Miguel Jr. with the Bayshore Park condominium at 2545 South Bayshore Drive in Miami (Getty, BH Group, Mast Capital, Google Maps) Mast Capital and BH Group paid at least $20 million for the majority of condos at an older building…
Miami Apartment Market Regains the South Florida Occupancy Spotlight
Miami is the tightest apartment market in South Florida, after recovering well from the pandemic-era occupancy decline. Before the COVID-19 pandemic, Miami tended to outshine the other two South Florida apartment markets in occupancy performance. In the five years leading up to the pandemic (2015 to 2019), Miami averaged occupancy at 96.1%, according to data…
Lennar proposes 106 townhouses near Homestead, as it continues to target south Miami-Dade
Lennar wants to develop 106 townhouses near Homestead, as the homebuilding giant continues its development spree in south Miami-Dade County. The Miami-based firm, led by Stuart Miller and Jon Jaffe, proposes the Retro West complex with 11 workforce units on a 10-acre vacant site on the northwest corner of Southwest 338th Street and Southwest 192nd Avenue…
Eichners score approval for mixed-use project in North Bay Village
Commissioners voted in favor of special area plan, site plan and development agreement The North Bay Village Commission voted in favor of Continuum Company’s proposal for its Continuum Waterfront District, a two-phase, mixed-use development. Commissioners unanimously approved at a meeting last week a special area plan, site plan and development agreement…
Lease roundup: Pura Vida, Tremble on tap at Esplanade at Aventura
Also, Bridge Point Port Everglades lands its first tenant Open-air shopping center Esplanade at Aventura scored 17 tenants for a combined 54,800 square feet. This month, Tremble will open a 1,600-square-foot gym and Bank of America will open a 4,700-square-foot branch at 19505 Biscayne Boulevard in Aventura, according to a news release from Esplanade at Aventura.
Sunset Harbour’s Office Depot site trades for $29M
Miami Beach neighborhood is experiencing some redevelopment, including the Eighteen Sunset The Office Depot site in Miami Beach’s Sunset Harbour traded for $28.5 million, The Real Deal has learned. EOS Wellness Real Estate Miami LLC bought the 19,700-square-foot retail building on the 0.6-acre site at 1771 West Avenue, according to a source.
New development firm plans pair of Ojus condo projects for first build
Construction contractor Jorge Saivay, engineer Luis Ochoa founded GrowIn Group last year GrowIn Group’s Jorge Saivay and Luis Ochoa with renderings of the Lev at Aventura and Eden at Aventura condo projects in Ojus (Getty, GrowIn Group, Gaviria Architects) Newly formed real estate firm GrowIn Group proposes a pair of 32-unit condo buildings in Ojus, marking its first…
“Not a license to lie”: Aventura Developer seeks punitive damages from Winn-Dixie’s parent
Southeastern Grocers executives allegedly deceived Aventura-based TCII Capital affiliate in new grocery store build Winn-Dixie parent Southeastern Grocers allegedly misled an Aventura-based developer into starting construction of a new store the company had no intention of occupying, court records show. On Monday, Miami-Dade Circuit Court Judge Abby Cinnamon…
Edge House Miami and Clear™ Partner to Create Edgewater’s First Biosecure Short-Term Rental Tower
Grupo T&C has announced a partnership with Clear™, a global wellness technology company, to bring air, water, and surface purification systems to Edge House Miami, a planned 57-story short-term rental tower in Edgewater. The collaboration makes the development the first biosecure tower of its kind in the neighborhood, with health and environmental wellness technologies…
Edge House Announces Plan To Become First Biosecure Tower In Edgewater
Edge House Miami has announced plans to become the first biosecure high-rise in Edgewater. The developer of the building is partnering with Clear, a wellness technology company. The technology being installed will include ClearCentral – A whole-building water sterilization system that treats incoming water for contaminants. The air in corridors in the building will be treated…
163-Unit Affordable Housing Development Proposed for 838 NW 79th Street in Miami
Cooper City-based Ainuz Holdings LLC has plans for a mid-rise housing development in Miami-Dade County. The venture is planned to measure 14 stories above grade and comprise 163 homes, 40 percent of which (65) would be deemed workforce housing. The venture’s currently in its pre-application phase. Residency will be available to tenants earning up to 120 percent…
Immersive art museum could replace longtime movie theater on Lincoln Road
Superhuman Museum LLC proposes converting Regal Cinemas to immersive art museum. Miami Beach Planning Board will review proposal on July 1. Project aims to revitalize Lincoln Road with interactive art experiences. A proposal to convert the Regal Cinemas on Lincoln Road into an immersive art museum is scheduled to go before the Miami Beach…
Interior Demolition Permit Issued At Brickell’s Mandarin Oriental Site
The first demolition permit was issued this morning for the Brickell Key site where two new Mandarin Oriental towers are planned. An interior demolition permit was approved early this morning by Miami’s Building Department, and issued just a few minutes later. The approved permit covers a total of 527,824 square feet of space. Other permits, including for total…
State Of Florida ‘Seizes’ Everglades Jetport Land
At least part of Miami-Dade’s Everglades Jetport land has been “seized” by the State of Florida to house an immigration detention center, according to the Herald. The new detention facility is being called “Alligator Alcatraz” due to its location in the Everglades. Under Florida law, the governor has the authority to seize private property in the event of an emergency.
$125M Construction Loan Secured For New Mixed-Use Tower ‘Cassi’ in Design District
A $125m construction loan has been secured for a new tower called Cassi in the Design District. Cassi will rise 20 stories. It will include 107 rental apartment units, averaging 1,509 square feet – larger than average, with 161,444 total rentable square feet. There will also be 23,000 rentable square feet of retail space. Walker & Dunlop, Inc. arranged the financing, which was led…
24-story Allapattah tower to include micro units
A developer is bringing affordable housing, including some micro units, to the Allapattah neighborhood of Miami. Joe Acquisitions LLC proposes a 24-story mixed-use residential development for 1334 NW 22nd St., offering 400 residential units, about 17,800 square feet of commercial-retail uses on two floors, and a parking podium for up to 335 vehicles.
Mount Sinai growing with entry into Westchester
Mount Sinai Medical Center is moving to expand its impact in South Florida to Westchester as it breaks ground on a new state-of-art emergency center at 8200 SW Eighth Street. “The building is going to bring critical services to the community; emergency services,” said Matt Barnard, associate vice president of planning and construction at Mount Sinai Medical Center.
Baptist’s Women’s Cancer Center due for 2026 use
Construction continues on the Al and Jane Nahmad Women’s Cancer Center at Baptist Health’s Kendall campus, with topping out of the building structure planned for September and completion expected by December 2026. The cutting-edge, 155,000-square-foot facility remains on track to open as scheduled, expanding access to specialized cancer care tailored to women’s needs…
Dr. Dipen Parekh: Noted healthcare innovator becomes the CEO of UHealth
This month, Dr. Dipen J. Parekh was named the chief executive officer of UHealth, as well as executive vice president for Health Affairs at the University of Miami. Since joining UHealth in 2012, Dr. Parekh, a globally renowned urologic oncologist, healthcare innovator, and leader in academic medicine, has played a pivotal role each step of the way as the University of Miami…
Miami Office Market Defies National Trends, Sees Rent and Occupancy Growth
Over the past five years, the national office market has faced its fair share of challenges: hybrid work reshaping demand, a surge in sublease spaces and rents stagnating in many cities. But Miami’s office market? It’s been a standout performer, and it’s soaring, not just holding its ground. From the onset of the COVID-19 pandemic, Miami began to separate itself from other major metros.
Esplanade at Aventura Welcomes 17 New Tenants Including Starbucks, Pura Vida, and Anatomy Fitness
Esplanade at Aventura, the recently completed open-air retail and lifestyle center in northeast Miami-Dade, is continuing its expansion with the announcement of 17 new tenants. Since its grand opening in December 2023, the development has emerged as a prominent destination for dining, wellness, and upscale retail in South Florida. The new leases represent more than 54,000 sf…
Seritage Growth Signs 17 New Tenants at Esplanade at Aventura in Metro Miami
Seritage Growth Properties, a REIT created by Sears Holdings in 2015, has signed leases with 17 new tenants at Esplanade at Aventura, its 215,000-square-foot mixed-use development located in the northeastern Miami suburb of Aventura. Retail and restaurant concepts including The Salty Donut, If So, Chip City and The Shade Store recently opened at the property…
Strategically located at the corner of NE 163rd Street and NE 19th Avenue, address 16300 NE 19th Avenue, the shovel-ready site is fully entitled for a 20+-story, 341-unit, Class-A multifamily development with over 400 structured parking spaces and 11,600± SF of commercial space. This site offers strong access to Dixie Highway and I-95 and sits within 15 miles of both MIA…
Developers Reckon With Building Against South Florida’s Rising Tide
South Florida’s coast may be among the most valuable real estate in the world, but as sea levels rise, developers are being forced to adapt — and some are considering how long they can continue building next to rising waters. Amid the threat of increased flood risk, uneven local mandates and cuts to the National Oceanic and Atmospheric Administration and National Hurricane Center…
Plans Filed With UDRB For 233 Luxury Condos In Wynwood
The developers planning a luxury condo building in Wynwood have submitted their plans to Miami’s Urban Development Review Board. The building, known as Twenty Sixth & 2nd Wynwood Residences, was announced in April. Condo sales launched the same month. According to the UDRB filing, Twenty Sixth & 2nd Wynwood Residences is planned to rise 8 stories…
Miami Becomes Even More Densely Populated With 10% Increase In Population
The city of Miami has seen a healthy increase in population (and density) since 2020, according to recent data from the U.S. Census Bureau. Miami’s population was estimated to have reached 487,014 as of July 1, 2024, compared to 442,244 on April 1, 2020. That is an increase of 44,770 new residents, or 10.1 percent. The added population means there has been an increase in population…
Groundbreaking Tomorrow For $600M MIA Terminal Expansion – First Since 2012
Miami International Airport is planning a groundbreaking ceremony tomorrow for a brand new concourse. The new Concourse K will span around 300,000 square feet, spread over three levels. It will include six new passenger gates, a passenger lounge, and new dining and shopping options for passengers. The cost of the expansion is estimated at $600.6 million.
$210.5 Million Construction Financing Secured For 2900 Terrace In Edgewater
Oak Row Equities has closed on $210.5 million in construction financing for 2900 Terrace, a luxury multifamily tower in Miami’s Edgewater neighborhood. The financing package comprises a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate LLC. JLL Capital Markets arranged the debt, with construction now…
Monceau Realty Revises Plans for Development at 26710 S.W. 144th Avenue in Homestead
Monceau Realty is scaling back plans for a project Florida YIMBY originally covered in 2023. The venture, then known to us as “Bloch Naranja Estates,” was planned to feature 197 workforce housing apartments in eight stories, totaling just over 230,000 square feet. Now, plans have changed, and the developer is seeking to cut the height in half, along with reducing…
Developers Pledge $1 Million To Improve Streetscape And Park Near Surf Row Residences In Surfside
The development team behind Surf Row Residences—LD&D in partnership with ONE Capital and IGEQ—has pledged $1 million toward enhancing the surrounding streetscape and public amenities near the project site in Surfside. The funds will support the revitalization of a stretch of 88th Street, as well as upgrades to Veterans Park and its adjacent tennis courts.
Ocean Bank Provides $54M Construction Loan for Whole Foods-Anchored Retail Project in Miami Beach
Ocen Bank has provided a $54 million construction loan for a retail development in Miami Beach. The borrower, 1901 Alton Property LLC, an affiliate of veteran developer Russell Galbut and his daughter Marisa Galbut, is developing a commercial building that will house a 40,883-square-foot Whole Foods Market, 4,000-square-foot Wells Fargo bank branch and 271 parking spaces.
Permits have been filed with the Federal Aviation Administration (FAA) for the installation of three tower cranes at 1201 Brickell Bay Drive in Miami, where Citadel, the hedge fund led by Ken Griffin, in partnership with New York-based Related Companies, plans to construct a 1,040-foot-tall supertall commercial tower designed by Foster + Partners with AAI Architects…
Continuum Unveils Waterfront District After Unanimous Approval in North Bay Village
Continuum Company has unveiled its vision for the Continuum Waterfront District, a transformative two-phase, mixed-use development spanning more than three acres along Biscayne Bay in North Bay Village. The master plan, designed by Arquitectonica, was recently granted unanimous approval by the North Bay Village Commission and aligns with the city’s NBV100 Master Plan…
Miami Developer Avra Jain Settles With Creditors Over $2.4M Judgment
Avra Jain’s former attorneys have settled with the prominent developer over the $2.4 million in court judgments she owed for her unsuccessful legal malpractice lawsuit. The case was officially dismissed in February, and the settlement terms are confidential. While recognized as a real estate visionary, Jain had been embroiled in a legal saga dating back to 2009.
Kadima launches $70M Hallandale Beach mixed-use condo project ‘Seven Park’
Plan is nearly double the cost of its other nearby multifamily development Kadima Developers is launching a $70 million mixed-use condo project in Hallandale Beach, marking the latest addition to the city’s residential development pipeline. Kadima’s Seven Park is planned for 218-220 Southeast 7th Street and will span eight stories with 121 condos, according to a press release.
‘Seven Park’ to Feature 121 Residences at 220 SE 7th Street in Hallandale Beach
Kadima Developers intends to break ground on a mixed-use venture in Hallandale Beach. Seven Park is slated to measure eight stories above grade, comprising 121 residences. According to the South Florida Business Journal, homes would span studio to three-bedroom layout plans, measuring 500 to 1,645 square feet. They’re priced starting at $375,000.
DMD Ventures claims lender seeks unlawful foreclosure of 2-Acre Fort Lauderdale multifamily dev site
Lender entity backed by EB-5 investors alleges developer defaulted on $11M mortgage debt DMD Ventures launched a preemptive legal strike in an attempt to stave off foreclosure of a 2-acre multifamily development site in Fort Lauderdale. On June 13, a Naples-based lending entity managed by lawyer Anthony Korda sued Fort Lauderdale-based DMD in Broward County Circuit…
13th Floor Unveils Plans for Boca Raton Mixed-Use TOD
13th Floor Investments is planning to break ground this summer on Link at Boca, a mixed-use, transit-oriented development located in Boca Raton, Fla., that will feature an eight-story multifamily building with 340 market-rate and workforce apartments. The project is expected to take two years to complete. Located at 680 West Yamato Road, Link at Boca will also have…
Billionaire migration fuels million-dollar tax bills in Palm Beach
Ken Griffin’s property taxes on the island top $10M Palm Beach’s luxury real estate boom is fueling a rare phenomenon: the million-dollar property tax bill. Of all the affluent homeowners on the island, no one has a higher bill than billionaire hedge funder Ken Griffin, whose property tax bill is more than $10 million, according to Bloomberg. Griffin is one of at least 60 billionaire…
Kolter, Perko buy out waterfront West Palm Beach condo for $38M
Developers plan 18-story luxury tower across Intracoastal from Mar-a-Lago Kolter Group and Perko Development dropped $37.6 million on the buyout of an aging condominium in West Palm Beach across the water from Donald Trump’s Mar-a-Lago Club. The partners bought all 38 units in Flagler House at 3705 South Flagler Drive from the individual owners and terminated…
Related Group, partners plan workforce housing at Marina Village in Riviera Beach
It’s part of a 90-acre mixed-use master-planned development near Riviera Beach’s waterfront Riviera Beach officials cleared a path for Related Group’s affordable arm to develop a 149-unit workforce housing project at Marina Village. The Riviera Beach City Council on Wednesday approved the replat of 2.4 acres between Broadway and Avenue C just south of East 12th St…
Defunct Retreat Behavioral Health facility near Lake Worth Beach sells for $16M
Banyan Treatment Centers already lined up as new tenant Banyan Treatment Centers CEO John Sory with 4140 Lake Worth Road (Getty, Banyan Treatment Centers, Google Maps) A vacant, distressed drug treatment facility near Lake Worth Beach sold for $15.6 million, and the new landlord has secured Banyan Treatment Centers to move into the building. Blue Cane Properties…
18-Story ‘Flagler House’ Planned for 3705 S Flagler Drive in West Palm Beach
PK Flagler LLC, a partnership between Perko Development and Kolter Urban, is moving forward with a high-rise luxury project in Palm Beach County. Flagler House is planned to measure 194 feet above grade, offering 39 units. The tower will replace a low-rise residential building on the property that has recently been vacated. The previous structure was erected in the mid-1980s…
Immocorp scores $117M construction loan apartment complex in West Palm’s Northwood
Gilbert Benhamou and Gideon Friedman started construction last year on the 382-unit project using their own equity A developer scored a $117 million construction loan for a 382-unit multifamily project in West Palm Beach’s Northwood District. Immocorp Ventures –– a partnership between Gilbert Benhamou of Aventura-based Immocorp Capital and Gideon Friedman…
Microsoft-linked buyer is assembling a $350M Palm Beach portfolio
A buyer linked to Microsoft is assembling a sprawling portfolio of Palm Beach properties, in a series of deals that will likely total more than $350 million, sources told The Real Deal. Billionaire Charles Simonyi, the early Microsoft employee credited with creating Word and Excel, is likely the buyer, sources confirmed to TRD. The Wall Street Journal first reported that Simonyi…
How ICE raids could affect Florida’s construction industry
Over 100 were detained at a Tallahassee construction site last month, as local law enforcement agencies partner with ICE Reports of federal immigration agents detaining construction workers across the state are trickling in. Six of more than 100 people who were detained by U.S. Immigration and Customs Enforcement agents in Tallahassee late last month were recently charged…
Office Sector Is Turning a Corner. What Is Fueling its Return?
By Brett Reese of CP Group After several years of disruption, the office market is beginning to show meaningful signs of recovery. Market fundamentals are strengthening, sentiment is shifting and the data backs it up. Office sales totaled $64.3 billion last year, up nearly 21 percent from 2023, according to MSCI Real Assets. Net absorption also turned positive…
FOMC Summary of Economic Projections, June 2025
In a previous FRED blog, we discussed the Summary of Economic Projections (SEP) released by the FOMC this past March. In this blog post, we will again use ALFRED, the vintage data version of FRED, to compare the latest projections released in June 2025 with several of the recent projections through 2027 for the following variables: the unemployment ratecore…
‘Follow The Politics’: Developers Slow To Return To New York City
By all indications, five years after the onset of the pandemic, New York City is back. Many of its developers, however, are not. New York’s office sector is at its most active since 2019, its vacancy rate is falling and it leads the nation in demand for top-tier space. Apartment vacancy is at a multi-decade low of 1.4%, and rents are at all-time highs. And 65 million tourists…
DeSantis signs amended condo safety bills into law on anniversary of Surfside collapse
Legislation extends deadline for associations to complete structural integrity reserve studies to end of 2025 Gov. Ron DeSantis signed bills amending the state’s condo safety legislation, four years after the deadly Surfside collapse. On Monday, DeSantis signed House Bill 913 and House Bill 393 into law. The June 24, 2021 collapse of Champlain Towers South killed 98 people overnight…
Signs of Office Stability Nationally Emerge as Downsizing Eases
The contraction of office space utilization is easing, according to a new report by Cushman & Wakefield in partnership with CoreNet Global. Over the last two years, two-thirds of major space occupiers reduced their office space usage, but only about one-third (32 percent) are planning further downsizing. Indeed, one in eight occupiers plans to expand their footprint, the report noted.
Chart: Surge in Trade Policy Uncertainty Index 4 Times any Prior
Economic uncertainty related to trade policy has spiked to unprecedented levels, driven by erratic political shifts and a barrage of rapidly changing tariffs. While some interpret this as a strategic maneuver, the effects are measurable regardless of intent. The chart above, based on the Fed’s Economic Policy Uncertainty Index for trade policy, highlights the current surge in uncertainty.
What a recession could mean for commercial real estate
With inflation, interest rates and the presidential administration’s trade policies dominating the news cycle, the potential for a recession is top of mind for commercial real estate. To determine how a recession might impact commercial real estate, we spoke with Tom LaSalvia, Head of Commercial Real Estate Economics for Moody’s; Ginger Chambless, Head of Research…
The Era of Side Hustles & Freelancers: Can Self Storage Be the Next Creative Workspace?
“Find a stable job with health insurance and retirement benefits”—said no parent in the last decade. In the days of the Greatest Generation and Baby Boomers, dedicating your career to a single company often meant a secure retirement. That era, however, isn’t even conceivable for Millennials and Gen Z—unless, perhaps, you’re in a government job. Advances in technology…