Edgewater developers face foreclosure over unpaid $34M loan
In one of the first major foreclosure initiations during the cooling real estate market, a lender is suing the developers of an Edgewater hotel project for not paying a $34 million loan. On Jan. 18, BDB Realty LLC filed the foreclosure lawsuit against Rebuild Miami-Edgewater LLC in Miami-Dade Circuit Court. Exactly one year ago, Rebuild purchased a 7.35-acre site on the corner of Northeast Second Avenue and Northeast 17th Street for $64 million from BDB, which is a partnership between Atlanta-based BDB Realty…
Tibor Hollo Miami Today Profile: Building our tallest tower, with a bigger one to follow
In 1956, Tibor Hollo packed his bags and reputation as one of New York’s most successful general contractors and relocated to sunny Miami, where he founded Florida East Coast Realty. In the 60 years since, the company has built in excess of 60 million square feet of single-family homes, landmark residential and commercial high-rises, government buildings, marinas, high-end retail centers, warehouse complexes, and telecommunications centers. The company forged new ground by developing Miami’s Omni/Venetia…
James Hawkins, via a related entity, has made Florida Chapter 475, Part 1, Real Estate Brokers, Sales Associates, and Schools, from Florida Statutes Title XXXII, Regulation of Professions and Occupations, available for download on Kindle. This is a great resource for those studying to take the Florida Real Estate Sales Associate or Florida Real Estate Broker exams, and is a must have reference for those already licensed as Florida real estate sales associates, Florida real estate brokers, and Realtors. Once on Kindle, users can…
Walter Page, Director of Office Property Research with CoStar makes forecasts for the office property market forecast for 2017 and beyond, including interest rates, cap rates, and demand in this video from The Commercial Real Estate Show.
He notes that cap rates have been flat for office propertie…
Tri-Rail to roll commuter rail into downtown Miami by year’s end
With a bid controversy settled, the South Florida Regional Transportation Authority is on track to have Tri-Rail commuter trains steaming into downtown’s Miami Central station by year’s end. “We issued a contract this week for the maintenance of the corridor,” Bonnie Arnold, authority spokesperson, said last week. “We stand by the process.” The authority solicited bids to bundle services from four contracts that are expiring. The bid documents stated the proposals had to be non-conditional, meaning that they couldn’t take…
Video: Reis Senior Economist Barbara Denham Provides U.S. Industrial Property Market Update
In this brief video, Barbara Denham, Senior Economist at Reis, discusses the industrial property market nationally, including performance and trends in rent and vacancy. During this video a chart is displayed showing, over the past several years, steady rent growth and a (likewise) steady decl…
Miami-Dade County analyzes four expansions for Metromover
Miami-Dade County transit officials are analyzing extensions for the Metromover and upgrades for all its systems toward accommodating increasing ridership. Director of Transportation and Public Works Alice Bravo said right now her department is evaluating various expansions, including one to the north for the Midtown area; the south to close the Brickell loop; the west for the Marlins Stadium area; and Miami Beach over the MacArthur Causeway to Fifth Street and Alton Road that would serve as a beach corridor.
Uber And The Freight Business: Collaborative Partner Or Disruptive Competitor?
With over 30 million users a month in 425 cities in 72 countries, some would say that Uber is fast changing the face of global road transport. The start-up, which was founded by Travis Kalanick in 2010, has severely disrupted the taxi industry in many cities around the world. And now it seems…
Florida Commerce With Cuba Totals $65 Million Even As Governor Tries To Limit Trade Expansion
Even though Gov. Rick Scott doesn’t think any Florida port should be doing business with the “Cuban dictatorship”, many items have flowed through the state’s ports and airports headed to or returning from Cuba.
Home sales still falling in Miami-Dade, Broward and rising in Palm Beach: Realtors reports
Miami-Dade and Broward counties continued to see declines in residential sale volume and increases in prices in January, according to the latest Miami and Greater Fort Lauderdale associations of Realtors reports. In Palm Beach, meanwhile, more…
Genet Property Group Shopping South Miami Industrial Portfolio
Genet Property Group has put its 366,000-square-foot portfolio of 11 smaller industrial buildings up for sale. Genet has retained the Cushman & Wakefield team led by Miguel Alcivar, Dominic Montazemi, Scott O’Donnell and Jason Hochman to market the portfolio to potential buyers. Related…
Miami Highways To Get First Diverging Diamond Interchanges
Work is steadily moving forward to make driving on area highways less time-consuming and safer. “Two major things right now are the diverging diamond interchanges and the work on the shoulders of 836 to prepare them for express buses,” said Yvette Holt, a spokesperson for the Miami-Dade Expressway…
New EB-5 U.S. Visa Program For International Investors Announced
Another way of investing in this prime condominium is through EB-5. EB-5 is a visa program where foreign investors are given a green card when they invest in the United States. However, it is not as simple as that. The investor should ensure that he/she will also be able to provide 10 jobs. Recently, the real estate industry has been accepted to grant this opportunity to foreigners. The investment of the foreigner should amount to $500K, but this already shoulders him and his family. There are only a few luxury condominium…
HFZ’s Alicia Goldstein Talks Miami Commercial Real Estate and More
Alicia Goldstein is something of a legacy in New York real estate. Her mother, Patricia Goldstein, worked at the highest levels of commercial real estate for decades, including as vice chairman and head of commercial real estate at Emigrant Bank, until her passing last April. And Alicia, 43, has made her mother proud. Currently the senior managing director and president of sales and marketing for Manhattan real estate developer and investor HFZ Capital Group, the junior Goldstein brought the expertise she developed in sales…
Miami Officials Aren’t Even Planning for Medical Marijuana Dispensaries in the City
In November, Floridians overwhelmingly voted to legalize medical marijuana. Seventy-one percent of voters backed Amendment 2, requiring the legislature to make rules by July 3. By September, medical pot is supposed to be available statewide. But try telling that to the City of Miami. Nearly four months after the election, officials in the Magic City are still debating whether medical marijuana is even legal at all. That curious position became clear during a Planning and Zoning Appeals Board meeting last week, when…