Ricardo Dunin, Juan Carlos Tassara land $220M financing for Domus Brickell Center
Bayview PACE provided $180M in C-PACE funding for short-term rental-friendly condo tower North Development, the partnership between Ricardo Dunin’s Oak Capital and Juan Carlos Tassara’s Edifica, scored $220 million in financing for their planned Domus Brickell Center project. The planned 35-story, 579-unit tower at 1034 Southwest Second Avenue will be…
Billionaire Amancio Ortega pays roughly $110M for Miami Design District building
His family office, Ponte Gadea, acquired Atlas Plaza, located at 130 NE 40th St and home to a Rolex store and Michael’s Genuine, one of the neighborhood’s longest running restaurants Spanish billionaire Amancio Ortega picked up a retail building in Miami’s Design District for roughly $110 million, beating out other prospective buyers including the owner of clothing brand Uniqlo.
Masaveu owns most of Brickell block after $24M Wendy’s purchase
Miami-based firm assembled three other properties on same street for dev site Masaveu Real Estate US has assembled almost an entire block in Miami’s Brickell neighborhood after paying $24 million for a Wendy’s restaurant. The American subsidiary of Spanish conglomerate Corporacion Masaveu, led by Chairman Fernando Masaveu Herrero, acquired the 3,611-sf…
’72 Carlyle’ to Comprise 134 Luxury Homes at 7130 Carlyle Avenue and 600 72nd Street in Miami Beach
Following the completion of its 72 Park project in Miami-Dade County, developer Lefferts is proceeding with a luxury condo right across the street. 72 Carlyle is set to measure 70 stories above grade and comprise 134 homes. Each of the one-, two-, and three-bedroom residences features an expansive terrace, with select homes offering summer kitchens.
Lefferts kicks off sales for 72 Carlyle, its third North Beach condo project
20-story, 134-unit tower is latest launch in upzoned neighborhood’s boom Lefferts is kicking off sales for the third North Beach condo project in its pipeline, 72 Carlyle. Douglas Elliman’s Eklund-Gomes team is leading sales for the 20-story, 134-unit tower planned for 600 72nd Street in Miami Beach, according to a press release. Units will range from one to three bedrooms…
Ron DeSantis eyes Miami site next to Freedom Tower for Trump presidential library
Florida governor wants state board to convey nearly 3-acre parking lot for the project Florida Gov. Ron DeSantis is eyeing a parking lot next to Miami’s Freedom Tower for a Donald Trump presidential library. The state’s top elected official plans to submit an item to the Florida Board of Trustees of the Internal Improvement Trust Fund to convey the 2.6-acre parcel at 500-540 Biscayne Blvd…
DeSantis Offers Trump Prime Miami Site For Presidential Library
President Donald Trump can add more than 2 acres in the heart of Downtown Miami to the growing list of potential sites for his presidential library. Florida Gov. Ron DeSantis plans to offer a 2.63-acre parcel adjacent to the historic Freedom Tower to serve as the Donald J. Trump Presidential Library, his office announced. The Florida Cabinet plans to consider conveying the land…
AcadeMir Charter Schools picks up land in west Miami-Dade, adding to South Florida portfolio
Purchase includes 9.2-acre dev site south of Coral Way AcadeMir Charter Schools hit the books and picked up more land in west Miami-Dade County. The Miami-based charter school paid $20.5 million for eight parcels of vacant land between Southwest 148th Avenue, Southwest 30th Street and Southwest 147th Avenue in unincorporated Miami-Dade.
AcadeMir buys its charter school campus in South Miami Heights for $25M
AcadeMir Charter School Preparatory bought its campus in South Miami Heights for $25 million. AcadeMir purchased the nearly 60,000-square-foot building at 19185 Southwest 127th Avenue in south Miami-Dade County from an entity managed by Mario Castellanos, Julio Batista and Rodolfo Ayan, according to records and real estate database Vizzda.
Thor picks up two Wynwood dev sites for discounted price of $30M
As part of deal, Joe Sitt’s firm reacquired an assemblage that it previously sold for $28M Joe Sitt’s Thor Equities scored a bargain for a pair of Wynwood development sites, paying nearly $32 million below previous sale prices two years ago. New York-based Thor paid a combined $30.2 million for the Miami properties that the seller acquired for a combined $62 million in 2023.
Grupo T&C scores approval for 56-story Edge House Miami
Short-term rental-friendly tower will have 608 units William Ticona’s Grupo T&C won approval for his planned Edge House Miami, a short-term rental-friendly project in Edgewater. The City of Miami’s Urban Development Review Board greenlit the Kobi Karp-designed tower, according to a press release. Lima, Peru-based Grupo T&C’s 56-story, 608-unit project is planned for the 0.6-acre…
Bunny seeks carrot: Playboy wants $800K from Miami Beach for HQ move
Lease inked with Rivani on the line if city doesn’t agree to terms News broke last month that Playboy was trading Beverly Hills for the Magic City, but now the once-iconic brand is looking to sweeten the deal. Playboy Enterprises International, led by CEO Ben Kohn, wants $800,000 in incentives from the city of Miami Beach, and could pull out of its lease for the 20,000-sf…
Calta scores approval for 499-unit Live Local Act tower in Allapattah
Anatomia will consist of 289 condos and 210 apartments The Caltagirone brothers’ Calta Group scored approval for a 499-unit Live Local Act tower in Allapattah, marking one of the first Miami projects under the state law with both condos and apartments. Coral Gables-based Calta plans the 30-story Anatomia with 6,500 square feet of retail at 1415–1469 Northwest 13th Terrace…
30-story Allapattah tower to feature luxury condos
The Calta Group is bringing a new mixed-use residential tower, Anatomia, to a site near the Miami River in Allapattah and on the edge of Miami’s Health District. The company said the 30-story high-rise will leverage Florida’s Live Local Act, combining multi-family apartments with luxury condominiums in a single landmark community. Located on a 1.06-acre site at 1415-1469 NW 13th Terrace…
Miami’s Urban Development Review Board has approved Anatomia, a 30-story mixed-use tower planned by The Calta Group for Miami’s Allapattah neighborhood. Designed by Corwil Architects, the project is one of the first high-rise developments to advance under Florida’s Live Local Act and was approved by a 5-1 vote. The tower will rise on a 1.06-acre site at 1415–1469…
Shvo Hands Over Miami Beach Site In $28M Deed-In-Lieu-Of-Foreclosure: The South Florida Deal Sheet
Michael Shvo handed over his Miami Beach development site — and its planned luxury office tower — in a deed-in-lieu-of-foreclosure transaction as he fights to keep other properties from the same fate. “Despite achieving unanimous approval from the Miami Beach Design Review Board for The Alton, with the changes in the local zoning, an office development was no longer…”
Terreno buys recently completed Doral industrial complex for $131M
Seller Link Logistics and parent Blackstone have sold more than $1.1B in South Florida warehouse facilities since November Terreno Realty Corporation picked up a recently completed Doral industrial project for $130.7 million, in the latest warehouse sell-off by Link Logistics and parent company Blackstone. An affiliate of San Francisco-based Terreno, led by Blake Baird, bought Royal Palm Doral…
Public-private team speeds Lincoln Road east end renewal
Improvements to Miami Beach Lincoln Road’s 100, 200 and 300 blocks are nearer on the horizon as a private-public partnership has just concluded an agreement on how money will be spent and the long-term project will be executed with a pedestrian focus. Peter Kanavos, executive vice president of development for Flag Luxury, a partner of Sobe Sky Development…
10-story downtown LED billboard outside PAMM may glow in new deal
The fate of downtown’s last towering LED billboard, a 10-story digital display outside the Pérez Art Museum Miami (PAMM), could be decided this week in a deal that would keep it glowing under newly proposed conditions. Today (9/25), Miami city commissioners are to vote on whether to approve a settlement allowing PAMM to continue operating the sign in exchange…
Homestead’s strategic plan sees major economic growth
After months of deliberation, Homestead will be implementing its first strategic development plan following its July approval by the Homestead City Council. According to City Manager Zerry Ihekwaba, the plan has five specific goals – increase civic engagement, improve quality of life, upgrade the city’s infrastructure, promote economic development, and streamline internal operations.
Coral Gables mobility hub targeted for quick start
Since being reappointed as Coral Gables city manager, Peter Iglesias has been working nonstop, pushing forward big-ticket items the city has committed to delivering to residents and visitors. Mr. Iglesias has been overseeing the renovations of City Hall, working on design and development of a planned mobility hub, finding solutions for public transportation, and building stronger city departments.
A Coral Gables-based developer has proposed Dr. Marvin Dunn Manor, an affordable multi-family housing community in Miami-Dade County. Proposed by Stone Soup Development, the venture would measure seven stories above grade and feature 101 residences: 25 studio apartments and 76 one-bedroom homes. Residency would be reserved for tenants earning 30 to 80 percent…
Shelton, a Turkey-based developer with completed projects in Bodrum and Ankara, is planning its first U.S. venture in North Miami. The project, called Shelton Miami, is proposed for 1998 NE 135th Street along Little Arch Creek and will rise 11 stories with 18 residential units. Designed by Kobi Karp Architects, the building will stand 121 feet tall and introduce…
Grupo T&C has received approval from the City of Miami’s Urban Development Review Board for Edge House Miami, a 56-story luxury home-sharing tower planned for 1825 NE 4th Avenue in the Edgewater neighborhood. Designed by Kobi Karp Architecture & Interior Design, the development will rise 649 feet and deliver 608 turnkey units ranging from studios…
9900 West Tops Out At 9900 West Bay Harbor Drive In Bay Harbor Islands
Construction has topped off on 9900 West, an eight-story boutique condominium along the Indian Creek waterway at 9900 West Bay Harbor Drive in Bay Harbor Islands. Developed by Brooklyn-based The Horizon Group and designed by Frankel Benayoun Architects with interiors by Craft Studio and landscaping by Geomantic Designs, the project will deliver 23 waterfront…
Pino died by suicide last year as FBI agents were closing in on the homebuilder Sergio Pino’s widow, Tatiana, and their daughters filed a new lawsuit against Pino’s longtime mistress and others they claim were involved in allegedly fraudulent transfers in the days before and after his suicide. Sergio Pino, a prominent South Florida homebuilder, died in July 2024 from a self-inflicted…
Rabbi loses bid to dismiss Fontainebleau Miami Beach defamation lawsuit
Jeff Soffer’s hotel is suing Shmuley Boteach for allegedly engaging in smear campaign against iconic property Rabbi Shmuley Boteach lost his bid to toss out a defamation lawsuit accusing him of smearing Billionaire Jeff Soffer’s Fontainebleau Miami Beach. On Sept. 16, U.S. District Judge Michael Moore denied Boteach’s motion to dismiss the complaint…
Russell Galbut’s family office, partners buy Galleria Fort Lauderdale
Joint venture plans to redevelop the 800K sf indoor mall Russell Galbut’s GFO Investments teamed up with InSite Group, Atlas Hill Real Estate and Prime Finance to buy Galleria Fort Lauderdale, sources told The Real Deal. The partnership closed on the 800,000-square-foot indoor mall at 2414 East Sunrise Boulevard, according to sources familiar with the transaction.
Former WeWork CEO Adam Neumann Among New Owners Of Fort Lauderdale Galleria Mall
An executive who took over for Adam Neumann and has led one of the biggest mall landlords in the country is part of the team that acquired the struggling Galleria at Fort Lauderdale. A joint venture of GFO Investments, InSite Group, Atlas Hill Real Estate and Prime Finance has purchased the 1980s-era mall at 2414 E. Sunrise Blvd. and plans to redevelop it, according to a release.
Joint Venture Acquires Fort Lauderdale’s Galleria Mall For Redevelopment
GFO Investments and InSite Group, in partnership with Atlas Hill Real Estate and Prime Finance, have completed the acquisition of Fort Lauderdale’s Galleria Mall, marking the beginning of a major transformation for one of the city’s most recognizable retail and dining destinations. The new ownership team, all with deep ties to South Florida, intends to reimagine the mall…
Legacy Residential boosts multifamily portfolio with $77M Coconut Creek purchase
Miami-based firm acquired garden-style complex with 416 apartments in Coconut Creek Legacy Residential Group added to its South Florida multifamily portfolio by purchasing a Coconut Creek apartment community for $77 million. An affiliate of Miami-based Legacy, led by Tom Cabrerizo, acquired the complex with 416 units at 4303 West Atlantic Boulevard…
Related completes Casamar tower in Pompano Beach with $350M sellout
21-story, 118-unit oceanfront condo marks Pérez family’s second completed project in the city Related Group completed its oceanfront Casamar condos in Pompano Beach, with a sellout of $350 million. Move-ins have begun, and the tower is nearly sold out, save for a few units, according to a press release. It marks the Miami-based developer’s second finished condo project…
Construction Starts on ‘Element by Westin’ Hotel in Dania Beach
Miami-based Baywood Hotels has started construction on the Element by Westin hotel, a six-story project requiring close to 80,000 square feet of new construction. Plans call for 115 rooms and 71 ground-floor parking spots. Additionally, residents will have access to amenities on the second story, including a fitness center, dining room, and lounge.
The District in Davie Secures $85 Million Construction Loan
El-Ad National Properties, a South Florida-based subsidiary of Elad Group, has secured an $85 million construction loan from Valley National Bank to advance vertical development of The District in Davie. The $1 billion, 2.8-million-square-foot mixed-use project is the largest multifamily development in the town’s history. Located at 4801–4999 South State Road 7…
26-Story ‘ArtHaus’ to Offer 265 Residences in Fort Lauderdale
Miami-based Moderno Development Group is proceeding with ArtHaus after securing site plan approval from Fort Lauderdale city officials. The venture, formerly known as the 500 Art Lofts, will measure 26 stories above grade and comprise 265 residences –– 43 of which would be designated as workforce housing for tenants earning up to 120 percent of the area median income (AMI).
Mill Creek Goes Vertical on Boca Raton Luxury Project
Developer and owner-operator Mill Creek Residential has broken ground on Modera Downtown Boca, a 306-unit luxury apartment community located in the heart of Boca Raton, Fla. The community is expected to open in 2028. Renters will pick from studio, one-, two- and three-bedroom residences with select den layouts and top-floor penthouses and…
Midtown Capital scores $57M bridge loan for Lake Worth Beach project
Infinity Collective provided the financing for Astor Sound, 230-unit apartment complex under construction Midtown Capital Partners landed a $57 million bridge loan for a nearly completed multifamily project in Lake Worth Beach. New York-based Infinity Collective, led by David Berg, Steven Kassin and Etienne Locoh, provided the financing for the Midtown Capital affiliate…
Huizenga family, Integra score initial approval for updated $2B Rybovich Marina plans in West Palm
U.S. second-quarter return on home flipping lowest since 2008 The Huizenga family and Integra Investments scored initial approval for changes to their long-planned $2 billion mixed-use development at the site of the Safe Harbor Rybovich, better known as Rybovich Marina. The partners are planning a massive redevelopment of the 19-acre waterfront site…
Plans to redevelop the Rybovich Marina are officially moving forward, with the Huizenga family and Integra Investments securing approval from the West Palm Beach Planning Board. Reviewed on September 16, the proposal outlines a multi-billion-dollar transformation of the 19-acre waterfront property, centered around four condominium towers and a mix of commercial…
Miami-based Related Group has secured funding for Residences at Marina Village, an affordable housing development in Riviera Beach. The $92.6 million in financing came from three entities: Manufacturers and Trusters Trust Co., the Florida Housing Finance Corp, and Bank of New York Mellon Corp. Residences at Marina Village is slated to measure eight stories…
‘Marina Annex’ to Host 175 Workforce Housing Units at 251 West 11th Street in Riviera Beach
Last week, Riviera Beach’s Planning and Zoning Board approved plans for Marina Annex, a workforce housing development. The venture will measure 77 feet above grade and comprise 175 workforce housing residences. Palm Beach County defines workforce housing as housing reserved for tenants earning 60 to 140 percent of the area median income (AMI).
The Historical Outperformance of Self Storage: What Investors Should Know
If you’ve historically tilted your real estate allocations toward multifamily, retail, industrial, or office real estate sectors, you’re not alone. These property types often dominate headlines and real estate holdings in model portfolios. However, by focusing exclusively on these big four, you may miss a consistently overlooked top-performing asset class: self storage.
How interest rate cuts could impact commercial real estate
The Federal Reserve dropped rates by 25 bps at its September meeting in response to data indicating a weakening labor market. The target federal funds range is now 4.00%–4.25%. Following a series of rate hikes and over a year of interest rate uncertainty, the Fed lowered rates three times in 2024. This is the first cut in 2025. The Fed indicated the timing and pace of further rate…
Atlanta Fed’s Bostic Discusses FOMC’s Move to Lower Fed Funds Rate
On September 17, the Federal Open Market Committee (FOMC) voted for the first interest rate cut of 2025, and participants have submitted a wide range of forecasts for the path of interest rates through the end of this year. Atlanta Fed president Raphael Bostic said during a September 19 interview Off-site link with The Wall Street Journal that he was “fine” with the rate cut…
The Trepp CMBS Delinquency Rate increased for the sixth consecutive month in August 2025, rising six basis points to 7.29 percent. In August, the overall delinquent balance was $44.1 billion, and the outstanding balance was $604.6 billion; these are both up from $43.3 billion and $598.9 billion in July, respectively. Breaking it down by property type, three main sectors…
The conversation kicked off with a discussion on transaction volume and cap rates, two parameters closely watched by industry stakeholders. These metrics, influenced by factors such as pricing, developmental scope, leasing opportunities, and market trends, provide insight into the industry’s overall health. Despite some headlines hinting at a gloomy scenario, Littell argued…
The national office vacancy rate was close to 18.7% in August, following a modest decrease of 80 basis points year-over-year. The national office listing rate averaged $32.63 per square foot in August, which marked a 0.4% slip from the previous year. The office supply pipeline remained modest at the start of September with a little more than 40 million square feet of office…
Understanding building automation systems
JPMorganChase Tower at 270 Park in New York is equipped with over 100,000 sensors. You may not see them, but you feel their impact. For example, window shades adjust automatically based on occupancy levels to minimize environmental impact, while daylight sensors in open office areas create a base level of light with no manual switches necessary.
Jobs Disappearing in Many Tech Hubs
Several of the nation’s tech hubs have seen job gains slow sharply or have turned to job losses due to a combination of various factors, including the tech industry correcting for pandemic-era over-hiring, general economic uncertainty and the transformative effects of AI. This has led to declining employment and a talent exodus in some hubs, while other cities continue to see tech sector growth.
FOMC Summary of Economic Projections, September 2025
In a previous FRED blog post, we discussed the Summary of Economic Projections (SEP) released by the FOMC this past June. In this blog post, we will again use ALFRED to compare the latest projections released in September 2025 with several of the recent projections for the following variables: the unemployment rate core PCEPI inflation real GDP growth the federal funds rate…