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.

Hines lands $88M construction loan for Doral mixed-use project

An affiliate of real estate developer Hines signed an $88 million construction loan for a Doral (area trends: industrial; multifamily; retail; office) project that will feature residential, hotel rooms, retail and offices. BMO Harris Bank, as an administrative agent for multiple lenders, granted the four-year mortgage to 8800 Doral LLC, an affiliate of Houston-based Hines. It covers…

Equinox fitness chain is taking the over the industry and will be part of Brickell Heights

The chain of luxury gyms will have nearly 80 clubs by the end of 2015 and has announced plans to launch a chain of upscale hotels with focus on physical health in Los Angeles and New York. “Our client has a lifestyle of high performance,” said the head of marketing for Equinox Carlos…

Great interest of Latinamerican investors in Hollywood and Hallandale Beach

Just 10 minutes north of Miami, by the beach, there are the cities of Hollywood and Hallandale Beach, which have become one of the most prosperous areas of South Florida not only for its proximity to the Atlantic Ocean but because of its everyday dynamic and family friendly environment. Characterized…

Developer completes final new Key Biscayne condo project

Unless a new development is suddenly proposed, developers have completed the last new preconstruction condo project for the wealthy island enclave of Key Biscayne (area demographics, listings) during this current South Florida real estate cycle that began in 2011. Deeds for the newly completed 101 Key Biscayne project — officially known as the 101 Condominium…

Donald Trump sues Stillman over troubled Fort Lauderdale hotel project

A lawsuit filed by billionaire Donald J. Trump claims that the developer of a Fort Lauderdale condo hotel soiled his reputation and cost him millions of dollars when he failed to complete the project. The condo hotel at 551 North Fort Lauderdale Beach Blvd. was originally called the Trump International Hotel & Tower Fort Lauderdale.

In December, Prices For Homes In Miami Rose The Fastest Nationwide

Home prices in Miami rose faster than any other major U.S. city in December, according to the S&P/Case-Shiller Home Price released. Miami home prices rose 0.7% for the month. Nationally, home prices were down 0.1% on average for the month. For the full year 2014, Miami ranked second nationwide…

Related Group CEO Jorge Pérez in his own words on Miami’s economy

Miami’s most prolific condo developer, Related Group CEO Jorge Pérez, is understandably optimistic about the local economy’s future, yet he sees several challenges that must be overcome to make the city a more attractive place to live. “Miami is one of the top cities for…”

Fifth Third Bank funds construction of 175 apartments in Miami-Dade County

Johnson Development Associates launched its first apartment project in South Florida as it obtained a $31.1 million construction loan for a project in the Fontainebleau area of Miami-Dade County. Fifth Third Bank provided the mortgage to the Residences at Fountain Square, an affiliate of the Spartanburg, S.C.-based developer. In April…

Swire Properties to introduce the first “Climate Ribbon” in the world

Topping the $1 billion mixed-use Brickell City Centre, will be a 150,000-square-foot climate ribbon — an enormous overhead trellis made of steel, glass and fabric. It will cover the walkway of the shopping center, where there are open-air shops, escalators, restaurants and terraces. It will…

Capital At Brickell Site Sold To Chinese Investors For $75M and Will Be Redesigned

$ 74.74 million paid the buyer, who is CCC International USA LLC, a subsidiary of multinational China City Construction of Beijing and American Da Tang Group in New York. The plot of 2.78 acres had been approved for a special use permit to allow the construction of twin towers in 1.3 million square…

Florida: The new third most populated state after California and Texas.

Florida has overtaken New York and has become the third most populous US state. For its warm climate, Florida is a place where seniors in northern U.S.A and Canada decide to retire or spend the fall / winter seasons and has become not only one of the favorite destinations of South American migrants…

Executive immigration action could benefit Real Estate market

President Barack Obama’s recent executive action, designed to reform the immigration system, could help increase the rate of real estate development in Miami. One of the iniciatives calls for the modernization of programs that aim to promote the inward investment and entrepreneurship, said…

Met Square including a plaza and gallery to display historic findings.

The developers of the fourth phase of the Metropolitan Miami: Met Square, presented a plan that will include a permanent exhibition of prehistoric circles believed to be foundations for Tequesta dwellings around 2000 years ago in addition to elements of the modern history of Miami like parts of the …

$124 Million funding the construction of Echo Brickell

The luxury mega project that began construction this week got nearly $124 million to finance the rising of the 60-story and 190 unit tower from Canyon Capital Realty Advisors. Developers of Echo Brickell, Property Markets Group, claim that the purpose of this development is to achieve spectacular…

PortMiami Cargo Hits Decade Record

Demand Is Rising For CRE Loans

How much competition is there for loans? National Real Estate Investor turned to Walker & Dunlop, a national firm specializing in providing customized financing solutions to owners and operators of U.S. commercial real estate properties to find out.

Zimmerman offices in Fort Lauderdale sell at loss

Pompano Rising

As a sales and marketing professional for high-end South Florida real estate, she observes key changes in places. So when a Whole Foods Market opened in Pompano Beach, it didn’t pass by unremarked.

Keyes Commercial

Three big projects proposed in Aventura, including condo tower

Aventura has received three major development proposals in recent months that are pending before the city. The wealthy city already has a handful of projects in the works near the Aventura Mall and along the water. Now developers have designs on building another condo, a medical office building and redeveloping a shopping center.

Miami sets record as hotels lead nation

This year has brought a record number of visitors to Miami-Dade’s hotels, which lead the nation in key tourism categories. “We are No. 1 in all key hotel metrics,” said Rolando Aedo, Greater Miami Convention & Visitors Bureau senior VP of marketing and tourism. As of April, Miami’s average daily occupancy was 84.2%, up from…

Miami Worldcenter district gets preliminary approval from county

The developers of the massive Miami Worldcenter project are one step closer to getting a special district that will help finance the construction. Miami-Dade Commissioners gave preliminary approval Tuesday to the Miami Worldcenter Community Development District, the Miami Herald reports. If given final approval…

City Of Opa-Locka Picks Up 80,000 SF Mixed-Use Asset

CVS pharmacy y más taps local vendors, sets sights on national expansion

CVS Health has created a two-way relationship with South Florida’s Hispanic community with the debut of its CVS pharmacy y más brand. The specially stores aren’t solely accepting transactions from the demographics they’re aiming to attract, they’re also bringing new business to some of South Florida’s Hispanic-owned companies.

Built By Father, Sold By Son: PetMed Buildings Trade For $5 Million

The buildings were constructed in 1970 by SVN’s Les Byron, Jr.’s father, Les Byron Associates.

Miami, Key meeting on Marine Stadium

The intensity of use on Virginia Key will be one of the major topics to dominate a joint meeting of neighboring municipalities in the struggle over what to do with Miami Marine Stadium Park. The joint public meeting of the Miami City Commission and the Village Council of Key Biscayne is set for 10 a.m. to 2 p.m. June 16.

Ever Elegant Casa Felipe Building on Miami’s Coral Way Trades

James Hawkins of Keyes Commercial recently represented the seller in the $1,507,500 sale of the Casa Felipe building located at 2298 Coral Way and 2205 SW 23 Avenue in Miami. The property, on a high visibility corner on a highly trafficked corridor between Brickell/downtown Miami and Coral Gables, was constructed in 1950. The Miami-Dade Property Appraiser shows the property as…

Easton & Associates Closes Nearly 130,000 SF Of Industrial Leases

Century 21 Department Store Leases 86,000 SF at Sawgrass Mills

Century 21 Department Store has signed a long-term retail lease for 86,048 square feet at Sawgrass Mills, located at 12680 W. Sunrise Blvd. in Sunrise, FL.  The off-price retailer is expected to open its doors at the end of 2016 when it takes space currently occupied by VF Corporation.

Sky High: Examining the Many Promises of SkyRise Miami

Lawsuits, litigants and the usual Miami antics aside, architect William Hamilton Arthur IV architecturally examine the design for SkyRise Miami (video presenentation here), the latest proposed icon to be seated between the port of Miami and Bayside Marketplace.  SkyRise Miami is an iconic, entertainment-themed tower designed…

How New SEC Focus Will Affect SFL Real Estate Private Equity

South Florida real estate private equity funds: take note of a recent speech by Marc Wyatt, SEC Director of Compliance, following up on previous concerns expressed regarding fees and expenses for private equity funds. In his speech, the Director disclosed the SEC was expanding its focus beyond traditional…

South Dade offers a new vision

Tomorrow’s South Dade, a comprehensive, community-driven project defining an overarching vision for the future of Miami-Dade County south of 216th Street, is ready for distribution. The report, created through a five-month information-gathering process involving more than 200 contributors, challenges businesses…

Lawsuits against against Miami Worldcenter dismissed

Grand Central Lounge and the Omni/Park West Redevelopment Association, which have fought Miami Worldcenter through lawsuits for months, have voluntarily dismissed their suits against the developers of the massive mixed-use project, The Real Deal has…

Boca Raton office plaza sells for $23M

A Stoltz-managed office building in Boca Raton sold for $23 million, months after the owner defaulted on its mortgage, Palm Beach County records show.  Arbern Investors III, an LLC managed by Morris Stoltz, sold the…

Shaking up EB-5

From the New York magazine’s June issue: During the dark days of the credit crisis, developers discovered something of a silver bullet in a little-known U.S. immigration program. Now wildly popular and well-publicized, the EB-5 program offers a green card and potential citizenship…

Canadian investors sell Broward apartments

A Canadian group made a cool $1.3 million after selling the Camelot West Apartments in Wilton Manors. Brass Enterprises, a Toronto-based company that acquires apartment complexes, first purchased Camelot for $4.7 million in 2012. Three years later, the…

Transportation trust rolling out

Miami Commissioner Francis Suarez has put some detail on his plan to create a revenue-generating transportation trust to help meet the city’s long-term transit needs. Mr. Suarez explained the basic framework of the proposed trust at last week’s commission meeting. The transportation trust would be created by ordinance…

Ruling paves way for Institute of Contemporary Art Miami

Plans for the Institute of Contemporary Art Miami’s new home in the Design District received a significant boost yesterday. During a contentious hearing that lasted more than two…

How Miami Retail Stacks Up Nationally

Most luxury storefronts are in five major cities—and Miami (view retail property trends) is one of them. Of course, Miami offers much more than luxury storefronts, but how does it stack up?

CocoWalk Remaking Itself in New Retail Era

“Looking at CocoWalk from a national perspective, it’s clear the property has lagged behind the Grove’s resurgence.”

Alliance Residential breaks ground on Fort Lauderdale apartment complex

Alliance Residential has started construction on the Broadstone Harbor Beach apartment project along Southeast 17th Street in Fort Lauderdale. The eight-story, 349-unit community with 15 boat slips and two parking garages should be completed in the first quarter of 2017. It’s located at 1799 S.E. 17th St., near the Art Institute…

Hyatt Centric South Beach opens

Hyatt Centric South Beach Miami, a new “lifestyle hotel” developed by Miami-based Robert Finvarb Companies and its partner David Martins, is now open, the developers announced on Monday. The 105-room hotel at 1600 Collins Avenue, represents the first Hyatt Centric-branded hotel in Miami Beach, and the second Hyatt Centric…

Waterway Shoppes of Weston sold for $15M

The Waterway Shoppes of Weston sold to a Coral Gables-based company for $15.3 million.  Insumos Ferrovairos Inferca, managed by Jose I. Fernandez in Weston, sold the retail center, at 2210-2282 Weston Road, to Coral Gables-based Waterway Ventures, managed by Dylan Fonseca. Macquaire Invesments, an affiliate of Des Moines…

Megraproject du jour: Sunrise Makes Way for Massive Mixed-Use Metropica

Talk about megaprojects, out in the burbs, Sunrise’s Metropica—the 65-acre, mixed-use development—is one of the new goliaths of development projects coming to South Florida (see Downtown Doral. Brickell City Centre, Miami Worldcenter to name a few others). A design team consisting of…

Publix bags Hollywood shops for $39M

An affiliate of Fort Lauderdale-based Stiles sold Publix Super Markets a store-anchored shopping center in Hollywood, according to Broward County records.  A Publix affiliate paid $39 million for the 13.6-acre site at 1700 Sheridan Street. Other tenants of the newly…

Wynwood property triples in values as Thor Equities pays $27M

A stretch of properties in Miami’s emerging Wynwood neighborhood sold for more than triple its price of two years ago, as Thor Equities shelled out $26.9 million for it.  SBT Wynwood II, an affiliate of New York-based Tristar Capital led by David Edelstein, sold the property at 252, 268 and 286 N.W. 29th Street…

Here’s what sold between $1M and $8M this week

Vacant land near Tamiami sells for $4 million.  A four-acre stretch of vacant land near Tamiami, which was recently sold for $4 million, is likely going to become a Walmart.  The land was sold by a Coral Gables-based company, whose managing…

Why CWI Bet Big on Ritz-Carlton Key Biscayne

High barriers to entry was just one of the many reasons. Get inside Carey Watermark’s head….

Amenities Drive New Kendall Multifamily MXD

A citrus grove, dog park with grooming station, full-size soccer field, and neighborhood retail are just some of the unique amenities at this Altman development….

Behind the Deal: $88M CocoWalk Trade Dissected

Coconut Grove is attractive to many retail developers, investors and tenants. Find out why Federal Realty Trust, Grass River Property and Comras came together to buy one iconic asset there.

Stearns Weaver Team Handles CocoWalk Acquisition

Peter Desiderio, Joy Spillis Lundeen and Curtis Sitterson were part of the Stearns Weaver team that represented minority partner Grass River Property in the $87.5 million acquisition of CocoWalk.

Multifamily Construction Costs Fall, Labor Costs Rise

Worried about a multifamily construction project? At least the price of lumber and sheet rock is low, along with a long shopping list of other construction materials needed to build apartments. That may help apartment projects avoid cost overruns…

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

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…

Miami speeds ahead with plans for boat show

The Miami City Commission on Thursday voted to authorize a 10-year contract with a local company that plans to erect custom tents and temporary structures for the Miami International Boat Show, which next year is moving to Marine Stadium, despite vehement opposition from Key Biscayne. Mayra Lindsay, the opposing…

iPic Theaters nabs $14.5M loan for new Miami-Dade location

iPic Theaters obtained a $1.5 million loan to build out its new movie theater in North Miami Beach’s Intracoastal Mall.  The Boca Raton-based upscale, dine-in theater chain is building an eight-screen, 40,000-square-foot facility that should open this fall. It signed a lease there with Dezer Development in 2014.

Downtown Miami over the years

Various views of Downtown Miami: Flagler Street – 1927; Flagler Street – 1927; Aerial looking west – 1930; Aerial looking northeast – circa 1950’s.

BJ’s-anchored plaza in Miami sells for $42M

A Miami shopping center anchored by BJ’s Wholesale Club changed hands for $42 million. Coral Terrace Commercial, an affiliate of Coral Gables-based Pan American Cos. headed by Carlos C. Lopez-Cantera Sr., sold the property at 7030, 7050 and 7060 S.W. 24th Street to Kireland Coral Terrace. The Aventura-based buyer…

Monty’s Raw Bar and Bayshore Landing Marina in Coconut Grove sold

Monty’s Raw Bar and Bayshore Landing Marina in Coconut Grove were sold this week for $6.95 million.  The deal did not include the land, which is leased by the city of Miami. The lease includes adjacent retail and office tenants. The property was last sold in 2004 for $3 million, according to Miami-Dade County property records.

Considering Miami-Dade Office Property Sales Increases in Recent Quarters

We recently extracted some office building sales data from Costar, specifically sales by quarter. We were looking at sales in units, not dollars, to get an idea of what percentage of properties were turning over. As those in the industry can attest, sales have been increasing.

Miami Beach apartment/retail building sold for $21M to New York investor

A mixed-use building in Miami Beach sold for $21 million to an affiliate of New York-based Springhouse Partners. Goldwater Realty, a Miami Beach-based company managed by Zalman Fellig, sold the building at 1700 Alton Road to AC 1700 Alton Owner, which is managed by Springhouse Partners founder Adam Verner. The buyer obtained a $19.04 million mortgage from Ladder Capital Finance.

Casal Group Negotiates Two Lease Deals Totaling 500,000 SF

The deals are representative of the strength of the South Florida industrial market.

Video: Paramount Miami Worldcenter at Night

This new video shows what Paramount Miami Worldcenter will look like at night. Very cool.  Thumbnail Image from Video of Miami Worldcenter at NightParamount Miami Worldcenter will transform Downtown Miami (view area demographic trends). It will not only offer residents ultra-luxury condos, it will also offer a luxury…

9 Miami-Dade properties linked to FIFA corruption probe

The red cards continue for the Fédération Internationale de Football Association officials named in Wednesday’s 47-count indictment for alleged conspiracy and corruption. If the defendants are convicted on certain counts, the U.S. government could seize assets – including nine Miami-Dade County properties.  The U.S. Department of Justice…

The New Normal: A Miami Association of Realtors Presentation

Ted C. Jones PhD, Chief Economist and Senior Vice President at Stewart Title Guaranty Company, makes some interesting points about commercial and residential real estate in Miami. It is worth taking the time to watch it, particularly for anyone currently invested or considering investing in Miami area commercial real estate…

Miami Design District Property Triples In Three Years

The 5,186-square-foot building at 3620 Northeast Second Avenue sold for $5.5 million, or $1,061 per square foot.

Why You May Want a Non-Traditional Lender

With some condo developers working with traditional financial institutions and other working with non-conventional lenders, we asked attorney Luis Flores what the big differences are….

How Millennials Are Influencing Miami Retail

There’s pent up demand for discount stories, high-street retail, indoor malls, and more. Find out how Millennials fit into Miami retail trends…

Miami Jewish Health Systems plans campus expansion

Miami Jewish Health Systems announced plans to expand its campus with a facility for patients suffering from memory loss.  The non-profit runs assisted-living facilities, nursing homes, rehabilitation centers, and a memory center. The Miami Jewish EmpathiCare Village would house 66 beds for patients dealing with memory loss.

All Aboard Florida unveils fares, expects 5.3M riders by 2020

Ticket prices for All Aboard Florida’s passenger train will range from $11 for a one-way ride between Miami and Fort Lauderdale to $143 for a business-class trip between Miami and Orlando, the company said in a study Thursday. The passenger rail company has not officially released its fare schedule, but President Michael Reininger…

What Makes This Related Group Retail Successful?

Could it be the proven concept from West Palm Beach, the location, the names behind the project? All of the above?

Inside Look: South Florida’s coolest offices

We’ve rounded up photos of South Florida’s coolest workspaces and learned that there’s usually a purpose behind all the alluring artwork, creative designs, unusual furniture, awesome views, scooters, fish tanks and, yes, even the pingpong, pool and foosball tables.  It’s about marketing: making sure you’re customers see success…

Verzasca Group to Develop 19-Story Luxury Tower in North Miami Beach

Verzasca Group will break ground next month on a proposed 19-story, 121,600-square-foot luxury residential tower at 17550 Collins Ave. in North Miami Beach, FL.  No stranger to the South Florida development scene, the buyer has two other projects in development in Bay Harbor Islands, including the…

Melo Group completes construction of condo tower in Miami’s Edgewater

Melo Group finished construction of its 38-story Bay House condo tower in Miami’s Edgewater neighborhood and will begin closing units soon.  The Miami-based developer, which is owned by the Melo family from Argentina, said the 165-unit Bay House is 99 percent sold and only two penthouse units – starting at $2 million…

Candlewood Suites project proposed in Miami

Tamiami Plaza Center Inc. has proposed a new Candlewood Suites hotel in Miami.  The application, filed last week with the Miami-Dade County Department of Regulatory and Economic Resources’ Development Services Division, shows a five-story, 103-room hotel that would be built on a 1.82-acre parcel of land at the southwest…

Miami Design District property triples in three years

Stiles Realty Brokers $4.8 Million Sale Of Former Harley Davidson

Marine Services Company Buys Broward Office Building For $9 Million

Bay House, Melo’s Fanciest Edgewater Building Yet, is Done

Bay House, the Melo Group’s 165 unit, 38 story condo tower in Edgewater and the first building as far as we know that attempted to elevate the developer’s work above mass market monotony in white stucco to somewhat more upscale digs has just received its temporary…

Boom or Bust? Southeast Seeing Some of Both

Atlanta is one of the fastest-growing cities in the Southeast—and the nation. But all Southeast cities aren’t as fortunate. Find how which cities are booming and which are busting in part two of this interview….

These Retail Transactions ‘Increasingly Rare’ in Florida

Grocery-anchored shopping centers are in high demand across Florida, with the demand outstripping the supply. This portfolio sale closed against that backdrop…

After SoBe Launch, Crema Caffeinates Coral Gables

“Coral Gables is the gold standard for urban, walkable, 24-hour neighborhoods in Miami-Dade County.”

What’s Really Driving Miami Retail?

In Miami, there is at least 4 million square feet of retail space in the permitting stages and under construction. What does that say about the Miami’s retail sector?

This Firm Is Pressing Hard Into Industrial

With a limited number of industrial listings in South Florida, the landscape is more competitive than ever. This firm’s Miami office is stepping its game up to meet the intensifying demand…

Miami Retail Investors Can Expect These Terms

“High quality, income-generating properties backed by stable owners are ripe for favorable financing terms in today’s real estate market.”

Amendment 1 Supporters Plan Rallies for Land Buying

Environmentalists plan to hold rallies across Florida this weekend, again calling on lawmakers to boost the amount of money for land acquisition, Everglades restoration and natural-springs protection.

Florida Supreme Court Ruling on Attorneys is Bad News for Condo Associations

Condo association boards hoping to cut legal fees by performing some everyday tasks in-house will need to reconsider after the Florida Supreme Court reaffirmed an earlier opinion that these duties constitute practicing law without a license.  Still reeling from the last housing crash that left some filing for bankruptcy to remain….

FEMA head visits Miami Beach to see how city is dealing with rising seas

As President Obama arrived in the Miami area on Wednesday afternoon, White House officials visited Miami Beach to talk sea-level rise and what the city is doing to prepare.  W. Craig Fugate, head of the Federal Emergency Management Agency (FEMA), and Senior Advisor to the President Brian Deese toured…

Del Junco Joins Cushman & Wakefield

Karina Del Junco has joined the Miami office of Cushman & Wakefield as a property manager with the firm’s investor services group. In her new role, Del Junco will be responsible for a portfolio of 1 million square feet of class A office, retail, and industrial properties within the Miami/Dade…

Mount Sinai Planning To Build A New Eight Story Hospital Tower In Miami Beach

Mount Sinai Medical Center wants to build a new eight-story tower on their Alton Road campus in Miami Beach.  The project includes the renovation of part of the existing facilities, with the new tower above the renovated space. It is a part of a master plan currently being reviewed by the city that also calls for a new employee parking garage.

Doral Makes it on Yahoo’s List of 15 Fastest-Growing Cities In The U.S.

Texas or California; cities in the two states absolutely dominate the ranking of fastest-growing cities with populations of 50,000 or more. Texas and California alone take up half the top 50 fastest-growing cities, with 15 for Texas and 10 for California, according to numbers just released by the U.S. Census Bureau.

Four 60-story riverfront towers move ahead

A large project planned for riverfront property adjacent to I-95 would bring more than 1,600 residential units to Miami.  These new residences would make up the bulk of four 60-story towers, the heart of a mixed-use development named after the body of water it embraces: Miami River.  Along with its size…

Miami Gardens office buildings sold for $12.6M, half off previous deal

Apartment tower to link booming Midtown & Design District

Site work has commenced on a transitional project set to bring nearly 200 rental apartments and new retail shops to Miami as it connects Midtown with the Design District.  The neighboring Wynwood Arts District is also listed as playing a role in the design concepts employed for District 36.  The 19-story tower, rising on a vacant lot…

Plan for 1,237 units at Diplomat and Chateau Square among Hallandale Beach proposals

The Diplomat Resort & Spa’s plan to build 1,237 hotel and condo units and a mixed-use project by condo builder Chateau Group are among five big development proposals recently submitted in Hallandale Beach.  Two of the five proposals are on the agenda of the city’s planning and zoning board on Wednesday evening. See the slideshow…

Wynwood district tries to expand

The push continues to expand the Wynwood Business Improvement District (BID) by pushing out the boundaries slightly but also by including more properties that are already within its geographic area. If the drive succeeds, 130 more businesses might join.  “It’s not going to happen overnight,” said Albert Garcia, BID director…

Miami Mayor on MLS/UM Stadium: ‘Running Out of Time’

Is David Beckham finally going to concrete a plan to build an MLS stadium in Miami and potentially team up with Canes football?  Carlos Gimenez, the mayor of Miami-Dade County, joined WQAM to update South Florida with the latest.  “I think they just want to get a stadium built,” Gimenez said on the Joe Rose Show Tuesday morning…

It’s Offiical: Alton Road’s Big Fancy Whole Foods Got its Big Fancy Approval

The third time was a charm for the 40,000ish square foot Alton Road Whole Foods Market designed by Chad Oppenheim which was officially approved today by the City of Miami Beach. After a disastrous ‘christmas colors’ first try, and a marginally svelter but still rejected revision, developers…

Boot Camp Beach: Miami in World War II Was A City-Sized Bootcamp in Paradise

While the hurricanes of war raged across both oceans, the stateside industrial and human efforts that made World War II possible stormed into Miami with seemingly as much gusto. The city’s grandest resort hotels became war hospitals (some of which never checked out, eventually dooming buildings by…

Comment of the day: “I think thee biggest problem with Cocowalk…

“I think thee biggest problem with CocoWalk is that they crammed too much retail into a site that was too small. Also the 3 levels of retail and restaurants don’t work because the number one rule for business that I know is location (should be on the ground floor). The store on the second level have…

Luxury & Culture Behind Miami’s Growth as a Destination for the Wealthy

The City of Miami continues to emerge as a top global destination for the über-wealthy. According to Knight Frank’s annual Wealth Report (2015), Miami is ranked 6th globally, 2nd in the U.S. and will remain among the world’s top 10 most important cities to Ultra High Net Worth…

Crescent Heights gets planning OK for new Whole Foods in South Beach

Developer Crescent Heights was given the go-ahead on Tuesday by the Miami Beach Planning Board to build a new 50,000-square-foot project that will include a new Whole Foods Market…

Eyewear brand Illesteva sets sights on Wynwood

Illesteva, a New York-based luxury eyewear and accessories brand, will open its first South Florida store in Wynwood, as the neighborhood boosts its retail offerings, The Real Deal has learned.  Jason Weisman, principal of JAW Commercial…

Melo Group completes second new Edgewater condo tower this cycle

A second new condo tower has been completed in the Edgewater neighborhood of Greater Downtown Miami by the same developer that started this current South Florida preconstruction boom in April 2011.  The Melo Group — which constructed the 23 Biscayne Bay condo…

CVS to open 12 Hispanic-themed stores in South Florida

CVS/pharmacy is opening 12 South Florida stores catered toward the Hispanic community, the company announced recently.  The CVS/pharmacy y más locations include 11 remodeled CVS stores and one new store. The pharmacies will feature fully bilingual staffs, more than 1,500…

Miami home prices rank fourth in country for growth

Miami saw some of the country’s largest gains in home prices, according to S&P Case-Shiller’s Home Prices Indices for March 2015.  Home prices in Miami grew 8.7 percent during March compared to the same month last year, outranked only by Denver…