The company recently released this video update on its construction progress for the massive project. As can be seen in this video, the foundations are being set for All Aboard Florida’s station in downtown Miami. JC Freyre, VP of Construction for the company, states that workers are setting the augercast piles that are to support the […]
Nightingale’s $82M Miami Beach Office Sale Collapses In Flurry Of Lawsuits The planned $82M sale of a Miami Beach office building owned by Nightingale Properties has failed to close, sparking a court battle between the embattled developer and the planned buyers. The dispute rose to the surface just as CEO Elie Schwartz began repaying $53M in […]
Miami Beach voters approve upzoning referendums Miami Beach residents voted in favor of zoning changes that could boost floor area ratio — or overall project size — of certain properties in the city. They also approved closing a loophole tied to the city’s vacation of public streets. Voters on Tuesday approved an increase in FAR […]
Alex Karakhanian buys multifamily development site north of downtown Miami Developer Alex Karakhanian acquired a site in Miami’s Arts & Entertainment District for close to $15 million, The Real Deal has learned. A partnership led by Karakhanian’s Lndmrk Development acquired the property at 1635 North Miami Avenue, Karakhanian confirmed. Records show JRSY Limited, led by […]
Milestone Group pays $107M for Emerald Palms apartments near Zoo Miami The Milestone Group paid $107 million for the 505-unit Emerald Palms apartment complex near Zoo Miami in southwest Miami-Dade County. The multifamily investment firm bought the community at 12325 Southwest 151st Street from an affiliate of Denver-based Grand Peaks Properties, records show. Milestone Group […]
Landlords sue federal gov’t over rental losses during CDC eviction ban In three days, the federal ban on evictions is set to expire, allowing landlords in most states to take non-paying tenants to court. But property owners say they deserve more than the freedom to join a backlogged docket. They want money. The National Apartment […]
Easton Group to Develop 266,000 SF Warehouse In Hialeah Gardens Easton Group will develop a 266,000-square-foot warehouse in Hialeah Gardens near Miami. An affiliate of Easton acquired an 8.5-acre site for $8.2 million. In September, a different Easton affiliate bought an adjacent 8.5-acre site for $5.6 million. Easton will develop the 266,000-square-foot property across the […]
Virgin Trains seeks $350M to build five stations in Miami-Dade Virgin Trains is proposing a major expansion of the commuter rail service, funded mostly by Miami-Dade County. Virgin Trains USA is seeking $350 million from the county to build up to five train platforms between downtown Miami and Aventura, as well as related infrastructure that would […]
Related, Shoma, PGIM sell Doral apartments for $100 million amid coronavirus pandemic The Related Group, Shoma Group and PGIM Real Estate Investors sold The Flats Apartments at CityPlace Doral for $100 million, marking the largest deal to close in South Florida during the coronavirus pandemic. Harbor Group International paid $330,000 per unit for the two-tower, […]
Developers speak out against Moishe Mana as he compares Wynwood campaign to the Arab Spring As Miami Mayor Francis Suarez and other elected officials urged a truce, Moishe Mana and current and former members of Wynwood Business Improvement District intensified their attacks on one another at competing meetings Tuesday. In recent weeks, Mana sent messages […]
Miami Tops The Nation For Retail Rent Growth Miami-area retail rents increased almost 2% from Q1 to Q2 this year, a pace of rent growth that leads the nation, according to Colliers International’s most recent market reports for South Florida, released last week. Miami’s retail rents now average just under $37 per SF. Roughly 460K […]
Host Hotels buys Sternlicht’s 1 Hotel South Beach for $610 million, setting new record Host Hotels paid $610 million for 1 Hotel South Beach, marking a new per-room record for Miami-Dade hotel sales at $1.42 million a key. Barry Sternlicht’s Starwood Capital Group and LeFrak sold the luxury beachfront hotel at 2341 Collins Avenue, according to […]
Project manager dies from injuries in Miami Beach building collapse A project manager died Friday from his injuries in what appeared to be a flawed effort to demolish the old Marlborough House condominium in Miami Beach. AlliedBean Demolition project manager Samuel Landis, a 46-year-old father and Lighthouse Point resident, had been in critical condition since July […]
Triple Five’s $4 Billion American Dream Miami Project Wins Final Approval from County Officials American Dream Miami will be a massive mall and entertainment center in northwestern Miami-Dade County. The first phase is expected to open in 2023. Make way for American Dream Miami. The Miami-Dade County Commission did just that Thursday, granting a series of approvals […]
City swap, three-tower development on Miami River cast adrift A complicated deal to gain a new office complex for the City of Miami in exchange for a triple tower private development on the Miami River is not as advanced as recently proclaimed. In fact, City Manager Emilio González said it’s far from being a sure thing. The […]
Grand Station moves forward with 30-story apartment tower in downtown Miami Grand Station Partners is moving forward with its plans for a public-private partnership with the Miami Parking Authority to develop a high-rise rental tower on a site in downtown Miami. The developer, led by Rovr Development principals Oscar Rodriguez and Ricardo Vadia, submitted a building […]
