Billionaire duo Soffer and LeFrak break ground on $4B SoLe Mia project
The billionaire Soffer and LeFrak families broke ground on Thursday on one of the largest development projects in South Florida, the $4 billion SoLē Mia in North Miami. They aim to transform the 183-acre former superfund landfill at 15045 Biscayne Blvd. into a community with residential towers, upscale retail and commercial space.
Charter school building near Miami Design District sold for $18M
A building near Miami’s Design District that houses a charter school was sold for $18.36 million, or $347 per square foot, to a development group. Miami-based 3900 Biscayne LLC, managed by Nancy Karp, sold the building to 3900 Bayviews LLC, also based in Miami. Aztec Group Chairman Ezra Katz, Managing Director Jim Fried…
Commercial Property Closing Price to List Price Ratio In Lower End of Recent Range in May
The closing price to listing price ratio tracked by MLS for Miami-Dade on improved commercial property dipped back to the lower end of a range is has been in for over a year. In the month prior, this ratio tipped 96%, a level surpassed in only 2 months since 1996, January 2011, when this ratio…
Former W E Johnson Equipment Co. HQ Trades In $2.7 Million Deal
Casal Group represented the buyer and seller in the transaction.
Dum Dum Da Dum: Did you know Miracle Mile…
Ten Legal Facts You Should Know About Renting in Miami
Miami is the country’s 5th or 8th most expensive place to rent (depending on your source), regardless of which, Miamians are still paying a premium to call this tropical oasis their (rented) home, making it all the more reason for renters to know their rights as a tenant. We all know there are so…
Developers Reveal Plans, Begin Construction At Miami Site Once Known As Biscayne Landing
When complete, the SoLeMia complex will include 37 acres of parks, two swimming lagoons, 1 million square feet of commercial space for office and retail, a hotel and more than 4,000 residential units, at a total investment of $3-$4 billion.
Sugar tycoon lands sweet $43M loan for Miramar site
An LLC led by Jose F. Fanjul Jr. obtained a $42.7 million mortgage for vacant land in Miramar, according to Broward County records. PNC Bank granted the loan to FC Miramar Phase I, which lists Fanjul, Erik Blomqvist, Oscar R. Hernandez, Juan…
Miami-Dade home buyers paying big down payments
Home buyers in Miami-Dade County put down some of the biggest down payments in the country during the first quarter of 2015, according to a RealtyTrac report. Prospective homeowners in Miami-Dade paid 19 percent of their…
$4B SoLē Mia master-planned development unveiled
Heralding the start of their $4 billion, 183-acre master-planned community in North Miami that is aimed at revitalizing the long-vacant site of a former landfill, LeFrak and Turnberry Associates broke ground on SoLē Mia on Thursday. The Soffer…
Miami leads the state with low commercial vacancy rates
The city of Miami enjoyed another month of low vacancy rates, outshining all other metropolitan areas in Florida during the month of May. Vacancy rates for the city’s industrial, multifamily, retail and office markets ranked lowest in Florida, according to data…
Industry heavyweights in video talk restraint in today’s luxury market
From the New York website: Despite soaring land prices and big-ticket property sales to match, industry experts at The Real Deal‘s New Development Showcase & Forum in May said that compared with other cycles, the market is more “disciplined” and “as health…
Donald Trump files suit over Fort Lauderdale condo hotel
Donald Trump has reportedly sued the developer of a condo hotel in Fort Lauderdale, which fell into foreclosure and allegedly cost his company millions. The project in question is now known as the Conrad Fort…
Key Biscayne and Miami International Boat Show slug it out
Dueling public relations efforts by the Village of Key Biscayne and the Miami International Boat Show organizers accuse both sides of spreading false information regarding Marine Stadium & Park in Virginia Key. Parsing truth from spin can be rougher…
Florida Crystals subsidiary nabs $43M apartment construction loan for Miramar apartments
Florida Crystals’ residential development subsidiary obtained a $42.7 million construction loan for the Atlantic Commons apartments in Miramar. PNC Bank (NYSE: PNC) granted the mortgage to FC Miramar Phase I LLC, part of the West Palm Beach-based sugar producer, for the 340-unit project. It’s located on the 28.3-acre site…
Downtown Arthouse Tenants Given Notice to Make Way for Miami Worldcenter
In late 2012, a cadre of top Miami art names packed up and moved downtown into a huge warehouse last occupied by a fishing supply company. The result was the Downtown ArtHouse, a sprawling studio space for A-list names like the TM Sisters, Bas Fisher Invitational, and Turn-Based Press. Thanks to a partnership with the…
Nancy Karp sells 3900 Biscayne for $18M
Nancy Karp sold the 52,889-square-foot commercial building at 3900 Biscayne Boulevard for $18.36 million, according to Miami-Dade County records. An affiliate of Miami-based Alta Developers was the buyer, corporate records show. Alta has been involved in projects such as…
New bayfront RV park rolling into Key Largo
An upscale recreational vehicle park in development along Florida Bay in Key Largo will likely go by the name Keys Palms Resort, owner Raul Medina told The Real Deal. “We’re three months out from completion…”
In a Future of Self-Driving Cars, Will Parking Garages be Necessary?
A child beginning school today will graduate around the time futurist Ray Kurzwell had until recently projected as the year we would reach Technological Singularity, a point at which AI (artificial intelligence, aka “the machines”) gains the ability to improve and replicate (they even have a song), eerily reminiscent of dystopian plot lines…
Colliers Woos Heavy Hitter From NGKF
Rick Klepal will hit the ground running and is offering expert insights into the South Florida commercial real estate industry in this interview…
TOD Gaining Momentum in Miami
Mixed-use and transit-oriented developments are emerging as a staple of new construction across the Southeast, though they are still less visible to the capital markets…
Video: $1.8 Million Won’t Buy Downtown Miamian’s “Sacred Land”
This video talks about a Native American man called Golden Eagle (Ishmael Bermudez) that is holding out on selling his downtown Miami land, prime for commercial development, which surrounds it.