Terra, ESJ’s Jungle Island project moving forward
Commissioners voted on allocation of $47M in developer contributions Arnaud Sitbon and David Martin with an aerial view of Jungle Island (Getty, Terra, ESJ Capital Partn… After six deferrals and one meeting cancellation, the Miami City Commission voted to move forward with how it plans to allocate the funds from the pending sale of city land on Watson Island…
Todd Nepola expands South Florida shopping center portfolio with $33M buy
An affiliate of his Hollywood-based firm acquired Miami Gardens retail site anchored by Ross and DD’s Real estate investor Todd Nepola padded his South Florida shopping center holdings with a $33 million acquisition in Miami Gardens. An entity managed by him bought County Line Shopping Center at 21301-21495 Northwest Second Avenue, Nepola told…
Distressed Miami River dev site hits market with $18M asking price
Marlon Gomez-led JV had previously planned 40-unit townhome project A distressed Miami River development site tied to allegations of fraud hit the market again with a reduced asking price of $18 million. The 1.8-acre property comes with city approvals for a 40-unit townhome development called Miami River Cove, previously planned by a joint venture led…
Amit Kort, Ofir Gabriel partnership score Live Local Act approval for Edgewater site
JV is listing small assemblage for $34M that can be developed into 47-story tower with 499 apartments A partnership between Amit Kort and Ofir Gabriel is adding a Live Local Act sweetener to an Edgewater site that’s on the market with a new asking price of $34 million. The city of Miami recently approved plans for the joint venture, Tulip Developments Group, to build a 47-story…
Boymelgreens’ Miami Beach office building at 301 Arthur Godfrey Road hits market at $20M
The Boymelgreens are looking to sell a 1960s office building in Miami Beach that’s next door to their nearly completed 42 Pine boutique condo project. The six-story building at 301 Arthur Godfrey Road hit the market with an asking price of $19.9 million, according to an offering memorandum. Alex Zylberglait and Michael Crocchiola…
Lease roundup: Ockap Caviar restaurant to open at One Ocean in South Beach
Also, a financial adviser and fintech firms will move headquarters to Terra’s The Well Bay Harbor Islands Restaurant Ockap Caviar & Cuisine will open in Miami Beach’s South of Fifth neighborhood. Ockap leased 3,200 square feet at a commercial unit at the One Ocean condominium building at 1 Collins Avenue, according to the landlord’s broker. Sebastian and Fabio…
Capstone, Alta partnering on University of Miami student housing project
Developers plan a 16-story, 189-unit tower with two pools, study rooms Capstone Collegiate Communities and Henry Pino’s Alta Development are partnering on a student housing project near the University of Miami. The developers are planning a 16-story, 189-unit complex with a total of 701 beds, the South Florida Business Journal reported.
Development activity ramps up in North Bay Village
Recent approvals move long-planned projects forward in the small town At a town commission meeting earlier this month, a joint venture between the Pérez family’s Related Group and Harry Macklowe Properties secured approval for their planned two-tower luxury condo development. The Harbor Island project will include two 498-foot, 43-story waterfront buildings at 8000 East Dr…
Shojaees’ firm now has until Halloween to secure master building permit for Shoma Bay Masoud and Stephanie Shojaee secured more time to obtain a master building permit for Shoma Bay, a delayed condo tower planned in North Bay Village. “Right now I am spending my own cash and giving the money for the project,” Masoud Shojaee, CEO of Coral Gables-based Shoma Group…
Hypercar-Focused Garage Design Unveiled for Pagani Residences in North Bay Village
Pagani Residences is redefining the concept of a luxury garage, introducing a space conceived not simply for vehicle storage, but as an architectural gallery designed for collectors and enthusiasts of high-performance automobiles. Developed by Riviera Horizons and Pagani Automobili, the project will rise at 7940 West Drive in North Bay Village and is the first residential…
Related and Macklowe secure approval for North Bay Village condo towers
Developers’ plan for two 43-story high-rises will return to commission for final vote in September The Pérez family’s Related Group and Harry Macklowe’s Macklowe Properties secured initial approval for their planned two-tower luxury condo development in North Bay Village. The North Bay Village commission unanimously passed a zoning ordinance on first reading…
Lennar proposes 125 townhomes in south Miami-Dade
Homebuilding giant has multiple planned projects in the area Lennar proposes 125 townhomes in south Miami-Dade County, marking the homebuilding giant’s continued development in the area. Miami-based Lennar wants to build the Century Parc Villas North complex on a 10.3-acre site at 35655 Southwest 192nd Avenue in unincorporated Miami-Dade…
Fear of ICE raids creates chilling effect at South Florida construction sites
Trump’s immigration crackdown has subcontractors thinking twice about filling crews with migrants On a muggy Thursday morning in mid-June, Jorge stood near the parking lot entrance to a Home Depot in Hialeah. The 47-year-old Cuban day laborer scanned arriving pick-up trucks for any glimmer of job opportunities, which have become scarcer each passing week.
$82.3M Sale of Doral Industrial Portfolio Negotiated
CBRE has negotiated the $82.3 million sale of a six-building industrial portfolio within America’s Gateway Park in Doral, a city in Miami’s Airport West submarket. Longpoint Partners, a Boston-based private equity firm, purchased the 301,988-square-foot portfolio from Terreno Realty Corp. José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon…
‘Residence 27’ to Offer 247 Homes at 2728 NE 2nd Avenue in Miami
Our sources have revealed plans for a high-rise residential tower in Miami’s Edgewater neighborhood. Residence 27 is a preconstruction building set to feature 247 homes in 20 stories. Residents will have access to a suite of on-site amenities, most of which contained in an amenity deck; it will include a fitness center, residents’ lounge, and swimming pool.
MMG Equity Partners Secures $38 Million Miami Portfolio
MMG Equity Partners Secures $38 Million Refinancing of Miami In-Fill Retail Portfolio Miami, FL – July 24, 2025 – MMG Equity Partners (MMG), a Miami-based real estate investment firm, today announced that it has completed a $38 million refinancing of its Miami In-Fill Retail Portfolio, consisting of Pinecrest Center, Westlake Plaza, Naranja Plaza, and Pinecrest…
MMG Equity Partners Obtains $38M Refinancing for Four South Florida Shopping Centers
Miami-based MMG Equity Partners has obtained a $38 million loan for the refinancing of four shopping centers in South Florida. JLL arranged the loan through Synovus Bank. The four properties include Pinecrest Center and Pinecrest Shoppes in Pinecrest, Westlake Plaza in Westchester and Naranja Plaza in Homestead. The four properties, which front either South Dixie Highway…
First Offset Cube Taking Shape At Supertall Waldorf Astoria Miami
The supertall Waldorf Astoria Hotel & Residences Miami is beginning to remake Miami’s skyline, photos from this month show. The design of the building will feature nine offset cubes, of which the first is now taking shape. Glass installation also appears to now be underway on some of the lower floors. The Waldorf Astoria is set to become the tallest building in Miami…
Tri-Rail May Be Forced To Shut By 2027 After FDOT Funding Cut
FDOT has told Tri-Rail officials that it wants to cut funding for the train service, which could lead to it shutting down, according to the Palm Beach Post. Tri-Rail was informed by FDOT of the planned cuts earlier this year. Then, on June 30, Gov. Ron DeSantis approved a new state budget which FDOT says allows it to proceed with cutting funding.
Tri-Rail faces 2027 shutdown without engineering a rescue
Tri-Rail, the commuter railroad serving three counties, is enroute to permanent derailment in a shutdown by July 2027 due to state budget cuts. Its public operators are scrambling to find ways to keep going. The Florida Department of Transportation (FDOT) redefined what it considers the statutory minimum for funding Tri-Rail, reducing from $42.1 million to $15 million…
Edgewater tower ‘Biscayne 18’ with 1,178 residences wins support
Dual mixed-use residential towers, the tallest reaching 55 stories, are coming to Edgewater. The applicant is 17 Plaza LLC, which is planning to build the project, Biscayne 18, at 331 NW 18th St. The development is to include the towers, home to 1,178 residences, nearly 25,000 square feet of commercial-retail uses, and a parking podium for 1,363 vehicles.
Wynwood residential towers to bring 1.9 million square feet
A developer in the Wynwood Arts District has planned a trio of steel and glass mixed-use residential towers with a cherry on top – literally. Owner-developer 2400-2500 N Miami LLC has submitted plans for property at 2400, 2412, and 2418 N Miami Ave. The overall project, LIVWRK Wynwood, is to bring more than 1.9 million square feet of uses in three 45-story towers…
Miami seals big Watson Island development deal
Miami has finalized the sale of city-owned land on Watson Island in a deal that promises new luxury residences, 13 acres of public green space overlooking Biscayne Bay and millions in community benefits. The city commission approved the long-anticipated deal July 24, clearing the way for the mixed-use development to rise on 18.7 acres of city-owned land at 1111 Parrot Jungle Trail.
Construction Starts on 251-Unit ‘Modera Aventura South’ at 2681 N.E. 191st Street
Boca Raton-based Mill Creek Residential has broken ground on the second phase of its Modera Aventura project. Modera Aventura South will measure nine stories above grade and feature 251 apartments, ranging from one-bedroom to three-bedroom floorplans. Homes will span about 730 to 1,370 square feet. Future residents will have access to a suite of on-site amenities.
A total demolition permit has been issued for the site of 14 ROC, a planned 32-story residential tower at 125 NE 14th Street in Miami’s Arts & Entertainment District. Miami-Dade County records show that a construction permit is currently in progress, paving the way for vertical development. The project is being developed by GFO Investments and will rise 395 feet…
427-Unit ‘Excel Miami’ Residential Tower Tops Off
Another residential tower has topped off in Miami. The Excel Miami tower topped off at 24 stories, with a ceremony by construction management firm Shawmut Design and Construction and developer Clearline Real Estate. Since breaking ground in December 2024, Shawmut-led construction crews have poured 19,000 cubic yards of concrete, laid 2,000 tons of rebar…
More Workers Now Employed In Construction In Miami-Dade Than Ever Before
Recently released employment figures show that construction is booming in Miami-Dade, according to Miami Today. There are now 63,400 workers officially employed in construction in the county, which is the most ever recorded. Miami-Dade has now set a new record for construction work for five months in a row, and the total number of workers is 8.2% higher than a year ago.
8th Floor Poured At 824-Unit Downtown Miami Apartment Tower ‘Downtown 6th’
Construction work at a 58-story downtown Miami apartment tower is likely to accelerate after contractors reached a key milestone. Contractor L&R Structural wrote on Instagram last week that it was pouring the 8th level mezzanine level at the Downtown 6th tower. Building’s typically rise faster once they reach typical residential floors, which should be coming soon…
894-Unit Downtown Miami Apartment Tower Advances To 6th Review Cycle
There’s progress in construction permitting for an apartment tower at the former Miami Arena site in downtown Miami. The master construction permit for the tower entered its sixth review cycle on Friday, Miami Building Department records show. Meanwhile, the phased vertical permit for the tower moved to its fourth review cycle on the same day.
Casa Bella Residences by B&B Italia Tops Off at 56 Stories in Downtown Miami
Vertical construction has officially topped off at Casa Bella Residences by B&B Italia, a 56-story condominium tower rising at 1400 Biscayne Boulevard in Miami’s Arts and Cultural District. Developed by Related Group and Alta Developers, the milestone was celebrated with a topping off ceremony on July 9, 2025. The tower now approaches its final form, with more than 90 percent…
‘Resia Golden Glades’ Finishes Construction at 15955 NW 6th Avenue in North Miami-Dade
Construction has concluded on Resia Golden Glades, a multi-family housing development with a unique twist: prefabricated bathrooms and kitchens intended to offer high-quality interiors without the cost. The venture comprises 420 apartments divided among four five-story buildings; residences span one-bedroom to three-bedroom floorplans. The venture’s website shares…
Miami’s UDRB Approves 140 Apartments, With Historic Building Integrated
Miami’s Urban Development Review Board voted last week to recommend approval of a new apartment building. The development site once housed the historic Temple Court Apartments, which was built in two phases between 1914 and 1918. The structure suffered a fire in June 2024, which required its demolition for safety reasons (that portion is now vacant).
Downtown Miami Signature Bridge Project Completion Pushed to Late 2029
Completion of the massive rebuild of the I-395/I-95 interchange, which includes a Signature Bridge in downtown Miami, has been pushed back several years. FDOT says it is now anticipating completion in late 2029. Until this month, the anticipated completion was late 2027. In addition, the estimated cost is now listed at $866 million. It had been listed as being estimated at $840m…
Photos: Central Fare Food Collective at Brightline’s MiamiCentral
Photos by Phillip Pessar show the new Central Fare Food Collective at Brightline’s MiamiCentral. The new Central Fare Food Collective opened on June 17, and the photos were taken on June 19. The Central Fare Food Collective includes 12 food and beverage concepts: Cotoita; El Turco Express; Guchi’s Handroll Bar; Icy-N-Spicy; Josh’s Corner Diner; Peppi’s Steaks & Hoagies…
RK Centers Lands $34M for North Miami Retail Center
The 129,000-square-foot RK Causeway Plaza opened in 1970. Image courtesy of Yardi Research Data RK Centers has received a $34 million refinancing loan for RK Causeway Plaza, a 129,000-square-foot shopping center in North Miami, Fla., according to Yardi Research Data. Bank of America issued the note. The retail property was previously subject to a $15.3 million loan…
JV Lands $56M Financing for Wynwood Haus
A joint venture between LD&D and IGEQ, alongside Black Salmon and Bridge Investment Group has landed a $56 million loan to recapitalize Wynwood Haus, a 224-unit community located in the Miami neighborhood of the same name. Berkadia teams from Miami, Denver and Boca Raton, Fla. helped arrange the loan. Fannie Mae furnished the seven-year…
Multifamily Momentum Shifting in Top U.S. Markets; Miami Area 10th Most Units Permitted
Atlanta and Orlando switched places on June’s top 10 list and Miami replaced Los Angeles at #10 after Newark and Columbus. However, looking at their annual apartment starts data from RealPage’s Market Analytics database, eight of the top 10 permitting markets saw a decrease in annual starts in 2Q25 compared to 1Q25, indicating their starts momentum is still slowing.
Miami-Dade commercial real estate company Glymar Developments files for bankruptcy
A commercial real estate company based in Miami-Dade County has declared bankruptcy with over $1 million in debts. Gylmar Developments Inc. filed for Chapter 11 reorganization July 28, listing up to $1 million in assets and nearly $1.7 million in liabilities. The petition was submitted in U.S. Bankruptcy Court in Miami by the company’s president, Maria Cristina Gonzalez.
Foundry, partner pay $23M for 10-acre industrial dev site in Pompano Beach
Buyers plan 182K sf project in a pair of warehouses Foundry Commercial and a real estate fund bought a 10.2-acre parking lot in Pompano Beach for $23.1 million, with plans to develop a pair of warehouses. Orlando-based Foundry and a fund advised by Dallas-based Crow Holdings Capital bought the site on the northwest corner of Northwest 33rd Street and Northwest 27th Avenue…
Crow buys 376-unit apartment complex in Davie for $98M
South Florida multifamily investment sales see a pickup, though nowhere near the pandemic bonanza Crow Holdings picked up a 376-unit apartment complex in Davie for $97.5 million, marking a pickup of multifamily investment sales in South Florida. Dallas-based Crow bought the 33 West property at 6300 Southwest 24th Place from New York-based commercial real estate…
Grover Corlew Breaks Ground on Mayla Cypress, a 312-Unit Residential Development in Fort Lauderdale
Grover Corlew has officially broken ground on Mayla Cypress, a 312-unit luxury multifamily development located at 6261 NW 6th Way in Fort Lauderdale’s Uptown Urban Village. The seven-story project is rising within the Cypress Creek business corridor on a 3.71-acre site formerly occupied by an underutilized office building. The groundbreaking follows the recent closing…
Perkins Realty Buys 53k sf Pembroke Pines Self Storage for $15.5M
Perkins Realty & Management has purchased Value Store It Self Storage, a 53,000-square-foot storage facility in Pembroke Pines, Fla. ANF Group sold the asset, together with its 17,667 square feet of commercial space, for a total of $15.5 million, according to Yardi Matrix data. To finance the transaction, StanCorp Financial Group issued a $10.3 million acquisition loan scheduled…
Baptist Health plans to expand, pays $40M for ground lease and dev site
Coral Gables-based health care chain bought Boynton Beach medical office building and Sunrise vacant land slated for new hospital Baptist Health South Florida CEO Bo Boulenger with an aerial view of the development site at 12401 W… Baptist Health South Florida is expanding its real estate holdings after acquiring a ground lease in Palm Beach County and a Broward development…
Related completes $50M deal for Office Depot campus dev site
Sellers, Pebb and BH, will remain as partners in planned Boca Raton mixed-use project with 500 apartments Related Group paid $50 million for 10 acres at the Office Depot campus in Boca Raton. An affiliate of Coconut Grove-based Related, led by Jorge, Jon Paul and Nick Pérez, bought one of three office buildings and a garage on the campus at 6600 North Military Trail…
Developers Revise Plans for ‘the Residences at Boca Raton’ at 41 SE 4th Street in Boca Raton
Developers Wexford Real Estate Investors and Key International have revised plans for a high-rise luxury condo in Boca Raton. The Residences of Boca Raton would measure 12 stories above grade, comprising just over 330,000 square feet of new construction. Plans call for 133 units, with floorplans ranging from two-bedroom to four-bedroom units.
Grant Cardone, Penn-Florida Complete $235M Purchase Of 101 Via Mizner Out Of Bankruptcy
Penn-Florida Cos. wasn’t giving up the 101 Via Mizner apartments without a fight. After submitting an emergency bankruptcy filing on Jan. 15 to dodge a foreclosure auction, the Boca Raton-based company partnered with celebrity real estate investor Grant Cardone to buy the building from its bankrupt entity for $235M. The new Cardone-led entity, Mizner 366 LLC…
Don King averts foreclosure, sells Deerfield Beach warehouse for $11M
Office/industrial building was legendary boxing promoter’s headquarters Don King averted a knockout punch to his real estate investments after selling a distressed Deerfield Beach warehouse for $11 million. The legendary 93-year-old boxing promoter, who lives in Boca Raton, sold the property for more than double what he owed on an allegedly delinquent mortgage.
SobelCo’s 508-unit mixed-use condo project moves forward in Riviera Beach
Proposed 1.2M sf development would be built on former boat yard site Riviera Beach’s Planning and Zoning Board unanimously endorsed a massive mixed-use condominium project across the street from the Port of Palm Beach. The board voted Thursday to recommend the rezoning of a 4.27-acre former boat yard at 1117 Broadway that will enable Boca Raton-based SobelCo…
U.S. Architecture firms report decline in billings for commercial real estate
Architecture firms are reporting a drop in billings as concerns about the broader economy and tariffs impact commercial real estate development and spending. The AIA/Deltek Architecture Billings Index (ABI) remained in negative territory in June with a score of 46.8, down from 47.2 in May. Anything below 50 is considered negative sentiment.
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.
Real estate developers say affordable housing could soon become more profitable
Whether it’s in the for-sale or rental market, the affordable housing crisis is only getting worse. There is simply not enough supply, especially in the apartment market, where developers have said it’s just too expensive to put up quality, low-income housing. They cite rising costs for land, materials and labor, as well as increasingly restrictive zoning regulations.
Commercial and multifamily mortgage debt nationally rises in the first quarter of 2025
Mortgage debt for the commercial and multifamily sectors increased by $46.8 billion or 1% in the first quarter of 2025, according to a quarterly report issued Tuesday by the Mortgage Bankers Association (MBA). The increase brought total outstanding commercial and multifamily mortgage debt to $4.81 trillion as of the close of the first quarter. Multifamily mortgage debt…
In a recent episode of America’s commercial real estate show, the host delved into the current state and future prospects of the industrial real estate sector. The episode was a rich source of insights, forecasts, and strategies pertinent to the industry. The show’s host began by expressing his enthusiasm for the upcoming global summit, emphasizing the networking, deal-making…