Check out the Porsche Tower’s Dezervator in action
The Dezervator, arguably one of the Porsche Design Tower’s most talked-about amenities, has been patented, proven and is almost ready for use. Engineers recently put the finishing touches on a nine-story miniature of the final product in Chicago, and have since been putting the concept through…
Cash Sales Made Up 35 Percent of All Home Sales in March 2015, Down from 39%
Cash sales made up 34.6 percent of total home sales in March 2015, down from 39 percent in March 2014. The year-over-year share has fallen each month since January 2013, making March 2015 the 27th consecutive month of declines. Month over month, the cash sales share fell by 2.8 percentage points. Due to seasonality in the…
Trophy Offices Open Up Historic 77% Rent Gap
Every major market in North America has its trophy spaces, the premier office towers with the best views, the most amenities and the highest rental rates. But the gap in rental rates between trophy space and all the rest has reached historic proportions. The most expensive offices now garner 77% more than non-trophy space, according to…
Clinton Hotel South Beach sells for $28.5 million
Clinton Hotel South Beach has sold for $28.5 million. The buyer calls itself Stellar Clinton LLC and is affiliated with New York company Stellar Management and Shawn Vardi. SM Think Clinton LLC also owns a 10 percent interest in the property, according to records. According to reports, Miami Beach-based Think Hotel Group…
WSJ: Builders Debate Merits of Raising Ceilings for Warehouses
Higher ceilings are the latest trend in warehouse real estate, but some builders say they could do more harm than good. Speaking on a panel at the NAIOP Commercial Real Estate Development Association’s Industrial Conference in Long Beach, Calif., on Wednesday, executives from Prologis Inc., DCT Industrial Trust Inc., Panattoni…
Miami Boat Show Director Lashes Back
The Village of Key Biscayne and the City of Miami are duking it out in a legal battle over the Marine Stadium site on Virginia Key. The village offered its side of the story in May. Now, Cathy Rick-Joule, the director of the Miami International Boat Show, is offering her side. In part one of this exclusive interview, we get some background…
Not Dead Yet: Malls are Adapting
Maybe it’s that reporters don’t like malls. After all they tend to be young, highly urban, single, and highly educated, not the key demographic at your local Macy’s, much less H&M. But for years now, the conventional wisdom in the media is that the mall—particularly in the suburbs—is doomed. Here a typical sample from…
West Palm Multifamily Property Trades In 1031 Exchange Deal
Associate Mitash Kripalani, CCIM negotiated the sale of the 27-unit multifamily asset for $4.25 million, or approximately $157,400 per unit.
The Fed fears lifting interest rates, ex-insider says
An expert who’s been involved in internal debates at both the Federal Reserve and the European Central Bank says the U.S. central bank is already behind the curve in lifting interest rates. Athanasios Orphanides, now a professor of global economics and management at MIT, was head of the Central Bank of Cyprus for five years, ending in 2012.
Two Tenants Relocate From Within Brickell To Four Seasons Tower
Cushman & Wakefield Director Gordon Messinger represented building owner Millennium Partners in the deals, which totaled 14,174 square feet.
Ecuadorian Flower importer buys Doral complex for $10M
A flower importer from Ecuador purchased a warehouse/office complex building in Doral for $10 million.
Peter F. Ullrich, of Amelia Island, sold the 102,310-square-foot Americas’ Gateway Park at 1800 N.W. 89th Place to G&G Cargo Service, led by President and CEO Jorge Garces. The price equates to $92 per square foot.
Century Homebuilders Group lands $11M construction loan from Apollo Bank for Sweetwater Development
Century Homebuilders Group landed its first major construction loan post-recession thanks to Apollo Bank. The Doral-based company led by Sergio Pino and Tatiana Pino was among the largest homebuilders in Miami-Dade County in the last real estate boom, but it got hit hard in the…
Mindboggling Reveals: Behold, the Porsche Design Tower’s Great Glass Dezervators
While construction of the incredibly over-the-top Porsche Design Tower in Sunny Isles Beach steadily continues, developer Gil Dezer has had a team hard at work engineering the three fully-automated car elevators that will whisk residents’ vehicles up to their private ‘sky…
For two decades, since the construction of the AmericanAirlines Arena, Miamians have been promised a waterfront park behind the arena on a plot of land called Parcel B. The park was part of the deal with the Miami Heat for the arena, which the county never held the Heat ac…
Miami Beach condo-hotel approved for 70 units
A group of Argentinean developers announced the 70-unit condo hotel 6080 Collins Avenue Beach House. Alex Rakover and Pablo Hoberman, of Urbis Real Estate, and Domus Group’s Flavio Rossato are the developers of the six-story project. Units start at $263,000. The studio units average 385 square feet and the one-bedroom units…
Should the Boat Show be Moved or Not?
There’s a tit for tag growing between the Village of Key Biscayne’s mayor and the Miami International Boat Show’s director. Who’s right?