Jun 01, 2015 - 0 Comments - Top Stories -

Miami Commercial Real Estate News June 1, 2015

Offices of Keyes Commercial Realty

Keyes Commercial

830 Brickell, With Plans For A Ricardo Bofill Condo Tower, Is Up For Sale

Ugo Colombo and Vladislav Doronin have decided to flip land in Brickell where they were considering building a condo tower.  The property is next to Related Group’s SLS Lux project and across from Brickell City Centre. Colombo’s CMC Group had placed signs on the property advertising a 70-story ‘ultra luxury’ tower, in what…

Related Group competes with 13th Floor/Adler Group to build big project at Metrorail station

Two teams featuring Miami’s biggest developers are going head to head as the Related Group is competing with 13th Floor Investments and Adler Group to build a major project at the Douglas Road Metrorail Station.  Miami-Dade County put out a request for proposals to lease the 7-acre site to a developer. Related Group, the condo…

Photos Show Miami’s changing skyline over the decades

Miami’s skyline…a century of change.  “On the Miami River” circa 1900via the Library of Congress.  1910 – “Biscayne Bay through the cocoanut trees.” 1908 – looking east on 12th Street (now Flagler Street) at Avenue D (now Miami Avenue) in downtown Miami. On…

Jackson Health announces plans to open Urgent Care Centers

As promised to Miami-Dade County voters, Jackson Health System is moving forward with its plan to build urgent-care centers in North Miami and Country Walk. Jackson is recommending leases at two sites that, if approved, could open by summer 2016….

Revenge of the megaprojects: Two teams, the Related Group…

Two teams, the Related Group and Adler Group/13th Floor Investments are competing head to head to develop a megaproject at the Douglas Road Metrorail Station. Adler/13th Floor would build almost a thousand residential units on the site while Related proposes university student housing on a massive…

Foreigners swoop into Miami real estate with piles of cash

It’s a scene that’s played out countless times here in recent years.  A working-class couple identify a home they want to buy, they work with their bank on a mortgage and prepare an offer, only to find that the property’s been purchased by a foreigner who plunked down a full cash payment.  “That’s happened to every Realtor in Miami,” said…

Conquistador Apartments sold for $30M to Miami investor

The Conquistador Apartments in Davie were acquired by a Miami investor for $29.9 million.  Les Chalet Investments, managed by Tomas Cabrerizo, purchased the two-story, garden-style complex at 7400 Stirling Road from Conquistador Apartments LLC, a Miami-based company headed by Paul Skoric. It has 318 units…

Curbed Inside: Curbed Miami Goes Up the Cape Florida Lighthouse

Built on the tip of Key Biscayne, the Cape Florida Lighthouse is recognized as the oldest structure in South Florida (except for that 800-plus year old Spanish monastery shipped over here by William Randolph Hearst, but that’s another story). The Cape Florida Lighthouse…

Revenge of the megaprojects: ‘Midtown East’ is Moving Forward on Chiquita Banana Triangle

Alex Vadia, the lucky so and so who basically hit the jackpot when he was smart enough to scoop up half of Midtown Miami and the abandoned Chiquita Banana facility to the east for $60 million and then continued buying up adjacent…

US mortgage rates hit 2015 highs on bullish housing data

From the New York website: U.S. mortgage rates rose to 2015 highs this week, with bond investors reacting to positive reports from the housing market.  The average rate for a 30-year fixed mortgage climbed to 3.87 percent from 3.84 percent last week, matching levels seen at the end of 2014, according…

Construction, sales for Gables townhomes on track

One of the City Beautiful’s newest townhouse projects has broken ground and is selling out quickly, according to the developer.  The Santander townhomes, at 625 Santander Avenue in Coral Gables, is a 10-unit development…

Developers expect brisk construction in Broward to persist

Developers behind three of the biggest real estate projects in Broward County are wary of a possible slowdown, but expect the brisk pace of construction in Broward will prove persistent.  “It has some legs,” said Jimmy Tate, president of Tate Capital in…

Q&A with Jeff Greene: “I’m all in on West Palm Beach”

Renowned real estate investor Jeff Greene, who reportedly became a billionaire by betting against sub-prime mortgages in last decade’s real estate crash, is bullish on real estate in West Palm Beach, particularly downtown West Palm Beach.  He has bought land to develop condominiums,..

Super-sized condos emerge as demands shift

Amid a sea of extravagant amenities, starchitects and picture-perfect views, lies an option South Floridians often take for granted: space.  Owners and developers are combining up to five units and cashing in on these mega condos.
Rendering of…

Miami’s Midtown to expand with more resi, restaurants, retail

Developer Alex Vadia has started laying the groundwork for a new residential, retail and restaurant project on nearly seven acres of vacant land just east of Midtown Miami.  At its regular planning and zoning hearing Thursday, Miami city commissioners authorized a request by three…