Experts forecast the state of Miami’s real estate market in 2017: panels
From the rising tide of foreign investment in commercial real estate and the future of the popular EB-5 visa program to how long the residential slowdown will last, some of South Florida’s top real estate players offered their take on what the market can expect in the next 12 months. “I am cautiously optimistic that the fundamentals of the economy is on solid ground,” said Alex Zylberglait,; “We will continue to see…”
Miami Marine Stadium secures $45M for renovation
Miami Marine Stadium secured the funding needed to green-light its renovation, with the Miami City Commission signing off on a $45 million bond proposal, clearing the way for the rebirth of Miami’s most unique stadium. The restoration effort was launched in the summer with the “Save Your Seat” crowdfunding campaign, a collaboration between the National Trust for Historic Preservation and Heineken USA. That project raised over $110,000 and donators will receive anything…
Tiny agency’s leap of faith to bring downtown roaring back
Downtown has come roaring all the way back. The last piece fell into place Oct. 31. A third of a century ago the former focal point of Miami had sunk so low that its stores were a wasteland unless you were a tourist buying a suitcase, shoes or electronics. Contrast that with the just-opened gleaming…
Lawsuit filed against Miami condo association illegally charging over $100 in move-in fees
If your Florida condo association charged over $100 in non-refundable move-in fees per applicant or married couple, it appears they’re in violation of state law. The Miami Herald reported on condo boards routinely charging more than state law allows in June, and now class-action lawsuits are sprouting across the state, including one filed on Friday against the condo association at Quantum on the Bay in Edgewater.
Top US developers riff on future of Chinese investment, President-elect Trump
President-elect Donald Trump spent a good chunk of his campaign bashing China and promised to reset the United States’ relationship with the country if he came to power. But many of his fellow developers, gathered in Shanghai for The Real Deal’s annual showcase, said that despite his heated rhetoric, Trump is a pragmatist who understands the importance of Chinese investment, particularly in real estate. “The reality is that our president-elect’s platform is absolutely pro-business…”
Highlight reel: The Real Deal’s Shanghai showcase
The Real Deal’s U.S. Real Estate Showcase and Forum in Shanghai. From the New York website: Better get good at offering business cards with both hands. Judging from the crowds at The Real Deal’s second annual U.S. Real Estate Showcase & Forum in Shanghai, a new wave of Chinese investment…
McKinsey & Co Leases 17,000 SF at Brickell City Centre
McKinsey & Co., a consulting firm based out of New York, signed a 10-year lease for 16,926 square feet at 78 SW 7th St. in Miami, FL. The tenant will take occupancy of a full floor at Two Brickell City Centre in the first quarter of 2017. Owned by Swire Properties, Inc., the 132,280…
Two projects proposed in Hialeah’s new transit-oriented development districts
It didn’t take long for Hialeah to attract interest from developers for its two new transit-oriented development districts with increased density as two mixed-use projects have been proposed. Bridge Crossings, at 2701 to 2765 E. 11th Ave. in Hialeah, would have 74 apartments and 1,100 square feet of ground-floor retail. On Oct. 25, the city council gave final approval to 313 acres of transit-oriented development around the the Tri-Rail’s Hialeah Market Station…
Commercial Property in Zip Code 33173: Year’s Top Buyers, Sellers, Ten Year Sales Volume
For commercial property of all types in Miami’s zip code 33173, the top buyers as listed by Costar on November 18, 2016 included: Acumen Real Estate; Equity One, Inc.; CF Properties Corp; IMC Equity Group; Luis Malo; CVS Health; Miami-Dade Parks, Recreation, and Open Space Dept; Jose Munoz; Equity One Florida Portfolio, Inc.; Chaptal. The total purchase volume of buyers for these types of properties over the past 10 years has ranged from a couple million dollars…
Discover What’s Ahead for Miami’s Condo Market
Significant issues facing the residential real estate industry in the coming year will be the topic of discussion on Wednesday, November 30 at the Urban Land Institute Southeast Florida & Caribbean’s annual Miami Condo & Community Development Symposium. Real Estate developers and investors…
Extend Development Orders and Building Permits for Almost One Year Due to Extension of Zika State of Emergency
Governor Scott, for the second time, has extended the State of Emergency issued for the Zika Virus. As a result, holders of development orders and building permits have another opportunity to claim a longer extension. The Governor also declared a State of Emergency in advance of Hurricane Matthew.
The Florida Supreme Court’s Decision in Bartram v. U.S. Bank, N.A. is Good News for Lenders
The operative facts in Bartram are simple.1 Borrower executed a standard form mortgage in favor of the lender. The mortgage contained an optional acceleration clause and provided the borrower with a right to reinstate the mortgage after acceleration. The borrower defaulted. The lender notified…
Seeking success when fraud claims are raised in business disputes
Florida residents often take each other at their word. When someone else tells us something, we tend to believe that person is being honest and truthful in what they are saying. Unfortunately, this is not always the case, as others may be misleading in the statements they are making. In the business…