In this video from 2014, a panel consisting of Avra Jain of the the Vagabond Group, Jodi McLean of Edens, and Vincent Signorello of Florida East Coast Industries discuss South Florida commercial real estate.
Video: Think Differently! Innovation, Entrepreneurship and Leadership in Commercial Real Estate
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Miami Commercial Property News September 30, 2015: North Miami Beach Car Wash Property Sells for $12 Million; Construction to Begin on Tallest Residential Tower South of NY; More…
Keyes Commercial Realty
Car wash owner cleans up with $12 million sale
The owner of a North Miami Beach car wash is awash in cash after selling the property for a clean $12 million. Master Carwash LLC, managed by Edgar Halac in Miami, sold the car wash at 15180, 15200 and 15203 Biscayne Blvd. to North Miami Beach-based 142 Realty, managed by Brett David. The 1.7-acre site has…
RedSky and JZ Capital buy Miami Design District building for $2,800 per square foot
A partnership between RedSky Capital and JZ Capital Partners paid $23.95 million, or $2,800 per square foot, for a building in the Miami Design District. RKF Senior Director Benjamin Mandell, VP Drew Schaul and Senior Director John Ellis represented the New York-based buyers in the purchase of 45 N.E. 39th Street…
Tallest Residential Tower South of Manhattan to Commence Construction in Miami
One day residents of Miami’s Brickell Flatiron tower will awake each morning for cardio in the clouds and swimming above the sunrise. In a move that will create added value for the residents of Brickell Flatiron’s 549 units, developer CMC Group has opened the 64-story tower’s rooftop up to the entire building with the creation of a Sky Spa…
Swire Properties proposes final phase of Brickell Key
Swire Properties wants to build the final phase of Miami’s Brickell Key with a mix of residential and commercial space. The Hong Kong-based developer has been building since the late 1970s on Brickell Key – a manmade island connected by bridge to Miami’s financial district. Swire is also building the massive Brickell City Centre project…
Development site in Coconut Grove hits the market
A vacant property zoned for commercial development in west Coconut Grove is on the market for $4.2 million, The Real Deal has learned. The 14,953-square-foot lot, at 3280 Grand Avenue, comes with plans for a 44-unit hotel and wellness center with 9,000 square feet of retail space. Peter Andolina of Metro 1 and Maria Elena Alvarez…
City easement lets railroad go airborne
In order to build its MiamiCentral train station downtown with elevated tracks, All Aboard Florida needed an aerial easement over Miami streets. City commissioners last week granted the easement to a company affiliated with All Aboard Florida, DT Miami LLC. MiamiCentral, an inter-city passenger…
Gables sketches a greener Miracle Mile
A streetscape renovation for Miracle Mile that has been on the drawing boards since 2002 looks ready to kick off and has grown to include Giralda Avenue between Ponce de Leon Boulevard and Galiano Street. “We are working on finalizing construction drawings and are preparing for a public meeting…
$370 Million Sale Of Flagship Retail Block On Lincoln Road Closes
According to HFF, the sale is the second largest ever in Miami-Dade County and the highest value retail property sale in Florida.
28,000 SF Deal Inked by Sign Company
Corporate Solutions Senior Vice President Michael Torna represented the tenant in the lease deal.
Miami’s Bay Point Center Hits The Market
The four-story property at 3915 Biscayne Boulevard is located at the convergence of the Design District, Midtown Miami, the Upper East Side and Edgewater.
$6+ Million Sale Of Retail CVS Investment Property Negotiated In Ocala
NAI Miami’s Ed Schmidt and Armando Bertematti represented the buyer in the purchase of a 13,013 square foot, CVS-occupied investment building.
Is Miami Heading for Another Bad Bust?
We asked Marc Coleman, president of Development at One Real Estate Investment, to get his thoughts on these questions….
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Commercial Land New Listings Off Slightly in August but Remain Elevated
New Commercial/ Business/ Agricultural/ Industrial Land MLS Property Listings Miami-Dade County January 2010 to August 2015
New listings for commercial/ business/ agricultural/ industrial/ land dipped from 97 in the prior month to 89 in August. This level remains, however, elevated relative to levels in prior periods, as can be seen in the accompanying chart. It is considerably higher than recent dips to the mid 60s in recent months, and is higher than that for any month prior to April of 2013.
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69 Miami-Dade New Improved Commercial Property Listings on MLS in Week to September 28, 2015
Miami-Dade Improved Commercial Properties MLS 7 Days to September 28, 2015
In the seven days to September 28, 2015, MLS shows 69 new listings for improved commercial/industrial properties within Miami-Dade County, down somewhat from 90 in the prior week ending September 21st. Notable among the listings is the former Parkway Medical Center, an 11 story vacant building in Miami Gardens with an asking price of $7 million.
In addition to the 69 new improved commercial property listings in Miami-Dade County, 3 properties were put back on the market. Twenty eight improved commercial properties already listed had their asking price decreased, while 8 saw their price increased. Also during this period, 22 closed sales were recorded in MLS in the county for improved commercial property.
Other indicators during this time that commercial real estate investors may desire to review are trends in commercial real estate prices and availability. These metrics are influenced by trends nationally as well as by demographic and economic trends and expectations in the area. To get an idea for how the market is today, view Miami area commercial property listings filtered by zip code, price range, or property type.
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Commercial Land Closing to List Price Trails Off Slightly in August
Miami-Dade County MLS Commercial/ Business/ Agricultural/ Industrial Land Closing Price to List Price Ratio January 2010 to August 2015
The closing price to listing price ratio for commercial/ business/ agricultural/ industrial land, for those transactions recorded in MLS, edged down in August to 85.5% from 88.8% in the prior month and 93.5% in the month before that. Considered over a longer period, this ratio falls more in the middle of a range since early 2011 of more or less 82% to 92%.
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Miami Commercial Real Estate News September 25, 2015
Keyes Commercial
Cambria hotel with 165 rooms planned for North Miami Beach
Choice Hotels International Inc. has signed an agreement with local developers to build a Cambria hotel in North Miami Beach by 2017. The Maryland-based hospitality corporation (NYSE: CHH) entered into a franchise agreement with CGI Merchant Group and another company identifying itself as 163rd Executive Center LLC…
Colombian developer announces Bijou Bay Harbor condominium
Colombian builder Juan Carlos Gonzalez recently launched sales for his Bijou Bay Harbor condominium in coastal Miami-Dade County. The project calls for 41 units in seven stories at 9521 East Bay Harbor Drive. His company, JCG Bay Harbor, acquired the small apartment building on a 10,425-square-foot waterfront site for $8.5 million…
Related Group and Dezer to break ground on Hyde Midtown condo/hotel
Co-developers Related Group and Dezer Development will break ground on the Hyde Midtown Suites & Residences in Miami on Sept. 25. The groundbreaking ceremony will take place at 10 a.m. at the project site at 3401 N.E. 1st Ave. in Miami’s Midtown neighborhood. The condo and hotel condo project was branded by sbe, led by CEO…
All Aboard Florida Breaks Ground On 3 MiamiCentral In Overtown
All Aboard Florida began construction on the 12-story 3 MiamiCentral office and parking complex in Overtown this week. The company filed a Notice of Commencement yesterday that site demolition, mobilization, excavation and foundation work was underway. Construction crews were seen moving dirt in the site earlier this week.
Construction On Bentley Edgewater Hotel And Residences Scheduled To Begin In January
The Heafey Group has launched sales for The Bentley Edgewater, a 32-story condo and hotel project with 207 units. Prices average $650 per square foot, with a 50% deposit structure that is typical for preconstruction condo’s in Miami. Sales representatives say that over 20% of the building has been reserved since sales launched a few…
Miami Beach to consider new building near Lincoln Road, bay front condos
MBeach1 LLC, headed by Robert S. Wennett, president of local developer UIA Management, wants to build a two-story building on the 12,000-square-foot parking lot at 1666 Lenox Ave. It’s on the north side of the 8-story retail, office and parking building at 1111 Lincoln Road.
10-Year, 50,000 SF Lease Deal Negotiated
The company relocated from Miramar.
BankUnited Fills CRE Exec Position with Lubian
Patricia Lubian has joined BankUnited as a commercial real estate relationship manager. In her new position, Lubian will handle development and management of commercial real estate in Miami-Dade County. Lubian brings more than 25 years of experience, having most recently served as senior vice president…
Big ships welcome now at PortMiami
PortMiami is ready for the big ship era! It is the only major logistics hub south of Virginia capable of handling fully laden post-Panamax vessels. More than $1 billion of capital infrastructure projects are now complete.
County Wants to Replace Phillip Johnson-Designed Cultural Center with High-Rise Condos
Designed by the great Philip Johnson, the Miami-Dade Cultural Center was an exercise in urban revitalization when it was built, with mixed success. Nevertheless, the complex has become a…
The Faena House Penthouse Sells for a Record Breaking $60M
The brand new Faena House penthouse combined with another unit has officially sold for $60 million, making it the biggest sale ever for a single family home in Miami-Dade County. This comes almost a year after the news of the sale broke on Curbed when the building was still under construction,
Vizcaya Seeks Ideas For New Use Of Old Miami Science Museum Site
Vizcaya administrators have grand designs on the six-acre property and are launching a master-planning effort with a series of three public forums on the revitalization this Thursday, Saturday and Tuesday.
Where Miami real estate will heat up next: panel
A panel of real estate professionals said the next hot spots for Miami-area real estate development include not only beachfront communities but also urban locations in or near downtown Miami. “The area that I am the most excited about in the future is…
South Beach’s Washington Avenue nabs new retail tenants
Three new retail stores are setting up shop on Washington Avenue near Eighth Street, amid efforts to gentrify the South Beach retail corridor, The Real Deal has learned. Noah Fox, an associate with Koniver Stern Group told TRD he has just brokered three leases for the…
Motwani may sell Las Olas Riverfront
A partnership led by Dev Motwani is considering selling Las Olas Riverfront and is marketing it as a major redevelopment site in downtown Fort Lauderdale. Merrimac Ventures, a real estate company…
Richard Siemens transfers ownership of development site for $14M
Florida-based developer Richard Siemens has transferred ownership of a 6.8-acre development site in Boca West, Palm Beach County records show. The land is the future home of Akoya at Boca West, a 140-unit luxury condo development at Boca…
Developer sells office portion of Boca mixed-use site
An office building that’s surrounded by new development in downtown Boca Raton was just sold for $25.7 million.
The building is a mid-rise structure with 73,918 square feet of interior space, according to Palm Beach County proper…
Jeff Greene’s downtown WPB tower faces criticism
Billionaire real estate investor Jeff Greene has submitted plans for twin, 30-story mixed-use towers in downtown West Palm Beach, but local industry insiders are offering doubts about the plan. Plans for the 829,000-square-foot project, at 550 North…
This Brand is Pushing Coworking Concepts Across Miami
Coworking is gaining national momentum. Locally, Pipeline Workspaces is one of the fastest growing with its unique twist on coworking.
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Commercial Improved New Listings Dip a Touch in August
Commercial Improved New MLS Miami-Dade County January 2010 to August 2015
The number of new commercial improved property listings in August dipped a bit from the prior month to 367 (from 373). This level, however, remains consistent with a general upward trend in this metric, as such new listings have steadily risen from just over 200 monthly in early 2010 to around 300 a couple of years later and today to near or more than 400 in most months.
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Miami Commercial Property News September 24, 2015
Key Biscayne office building trades for $21 million
Blue Jay Capital Principal Eric Soulavy just became his own landlord by purchasing a Key Biscayne office building for $20.75 million. Key Biscayne Properties, an affiliate of Beverly Hills, California-based Platinum Equity, sold the 52,004-square-foot office building to 240 Crandon Investments, managed by Soulavy. Miami-based…
Last Remaining Industrial Holdout on Wynwood’s Main Strip Sells for $41.5 Million
Walk along the main strip of NW Second Avenue in Wynwood, and you’ll pass a few art galleries, some fancy taco eateries, boho-chic boutiques, a Ducati dealership — and a huge pipe-and-plumbing-supply joint. Located in a 10,000-square-foot space at 2800 NW Second Ave., Lehman Pipe & Plumbing Supply, with its decidedly…
Most new downtown condos rented immediately
Condo rental rates in the downtown/Brickell area have largely stayed the same for six months, most brokers agree, but they cite a number of variables to watch going forward before we’ll know if the trend holds. Currently, rental rates in Brickell and average days on the market have remained essentially unchanged for two quarters…
Firm Tapped To Sell South Beach’s Largest Apartment Portfolio Ever Brought to Market
The portfolio totals 240 units in mostly low-rise, garden-style apartments.
Royal Oaks Townhomes Sold for $19M
Monument Real Estate Services and First Market Properties have acquired the Royal Oaks Townhomes at 3198 Stirling Rd. in Hollywood, FL for $19 million, or approximately $275,000 per unit, from Read PRoperties LLC and Chetrit Organization. Built in 2009, the gated multifamily complex consists of…
Public Art: The Wolfsonian is Building an Immersive Jungle in its Lobby
To accompany the upcoming exhibit Philodendron: From Pan-Latin Exotic to American Modern, which explores “the Pan-American cultural exchange that reshaped the gardens, interiors, buildings, and material culture of the U.S in the 19th and 20th centuries” the Wolfsonian…
Checking in on New Design District Store Construction
Very high-end retailers continues to construct very big new freestanding boutiques in the Miami Design District’s more substantially completed southern half—the Palm Court area—while major construction moves towards the north. Racked Miami reports that both…
Lubian: Investors Willing to Sacrifice This
Patricia Lubian, an industry veteran with more than 25 years of experience, has joined BankUnited. We got inside her head in this interview.
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20 New Miami-Dade Commercial Land Listings on MLS in 7 Days to September 21, 2015
Miami-Dade MLS Comm’l/Bus/Ag Land 7 Days to September 21, 2015
In the week to September 21, 2015, MLS counts a 20 new listings for commercial/business/agricultural/ industrial land, a low number, but up slightly from the prior week ending September 14th which had a rather paltry 16 new such listings. Notable among this week’s listings is a set of 3 adjacent lots on NE 34th Street with T6-36 zoning and with an asking price of $7.5 million.
Fifteen commercial land (commercial, business, agricultural, industrial land) already listed had their asking price decreased, while 3 saw their price increased. Also during this period, 5 closed sales for such were recorded in MLS in the county.
Other indicators during this period that commercial property investors may want to review are trends in commercial property prices as well as availability. These tend to be influenced by trends nationally and by demographic and economic trends and expectations in the area. To get more of a feel for how the market for vacant land is at the moment, view Miami area vacant land listings,
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Miami Commercial Real Estate News September 23, 2015
Thor Equities buys an entire block in Wynwood for $41.5M
Thor Equities just paid $41.5 million for more than an entire block in Wynwood, a missing piece that gives it one square block and marks the largest deal ever in the red-hot Miami neighborhood, The Real Deal has learned. New York-based Thor…
Across From The Jockey Club, Developer Plans 402-Unit Biscayne Boulevard Rental Project
Two out-of-state developers are planning to build a 402-unit residential project on Biscayne Boulevard across from The Jockey Club. 11200 Biscayne LLC, controlled by Arbor Realty Trust of New York and Belfonti properties of Connecticut are requesting that the six acre property be replatted so that they can build the project. A Dade…
Chetrit scores $55M loan for Miami Beach project
The Chetrit Group, a New York-based development firm, just closed on $55 million in financing to redevelop part of Collins Park: a group of Postwar modern and Art Deco properties in South Beach, some of which were ravaged…
1,771 Miami Worldcenter residences OK’d
Two main components of Miami Worldcenter won the approval of a city review board Sept. 16, promising apartments, hotel rooms, office space, restaurants and stores hugging a new 7th Street Promenade.
Two groups of architects, designers, attorneys and developers took a tag-team approach in presenting…
Three massive towers to rise beside arts center
The Related Group is bringing another triple tower project to Miami’s urban skyline, this one right next door to the Adrienne Arsht Center for the Performing Arts. As a bonus to adding to the city’s burgeoning arts district, the project will bring a nearly 40-foot sculpture to anchor the…
Regency Manor Sold for $17.5M
Two New York-based private investors acquired the Regency Manor apartments at 4355 NW 11th St. in Miami, FL for $17.5 million, or approximately $118,000 per unit, from RAIT Financial Trust. Delivered in 1969, the 136,476-square-foot multifamily complex is located near the intersection of Le Jeune…
University Commons SC Sells for $80.5M
Schmieer & Feurring Properties, Inc. sold the University Commons shopping center at 1400 Glades Rd. in Boca Raton, FL for $80.5 million, or approximately $453 per square foot, to Regency Centers Corporation. The 180,323-square-foot shopping center was built in 2001 by the seller. Featuring…
Residence Inn By Marriott in Pompano Beach Trades for $24.8M
Mercury Investment Co., Concord Hospitality Enterprises Company, and Aztec Group, Inc. sold the oceanfront Residence Inn by Marriott at 1350 N. Ocean Blvd. in Pompano Beach, FL to Claremont Companies for $24.8 million, or about $279,000 per unit. Built in 2002, the site was originally the Ocean…
Development Update: Hyde Midtown Breaking Ground on Friday, 70 Percent Sold
The Related Group’s Hyde Midtown is 70 percent sold out and breaking ground on Friday report The Real Deal. The project is being designed by Arquitectonica, with interiors by David Rockwell, and Curbed has written about it a whole lot already. So, for a thorough update, do check out our archives.
Development Update: Collins Park Hotel Renovations Finally Moving Forward
After getting the project approved all the way back in 2012, the Chetrit Group has secured a $55 million loan and is finally moving forward on plans to restore a block of art deco and midcentury modern hotels and apartment building just off Collins Park to create a boutique hotel, reports The Real…
South Beach apartment portfolio up for sale at $65M
Clockwise from left: An aerial view of the portfolio, CBRE agent Calum Weaver and the apartment building at 700 Euclid Avenue. A portfolio of 240 units in South Beach has been brought to market with a ballpark price of $65 million, CBRE announced on Tuesday. The units are mostly housed in…
Hyde in Midtown nearing 70 percent sold, breaking ground
Hyde Midtown Suites & Residences is now nearing 70 percent sold, The Real Deal has learned. And the project, a joint venture between Related Group and Dezer Properties plans to break ground on Friday. The developers partnered back in 2013 on the…
Mercy Hospital closes on $20M in financing
Mercy Hospital has closed on a $20 million construction loan, according to Miami-Dade County records. Miami Mercy Medical Center Development was the borrower. The LLC is tied to Onicx Construction, the Tampa-based general contractor…
SoFla once again looks to China to bolster condo market
More than three decades after establishing a link to East Asia, Miami is reportedly finally experiencing some success in appealing to foreign investors located more than 8,000 miles away in China — and the timing could not be better for the local real estate market.
Miami Condo Sales Uptick 6.5 Percent in August Over Last Year
According to the Miami Association of Realtors, Miami-Dade County residential sales rose nearly three percent year-over-year in August 2015, while median sales prices for single-family and condominium properties continued their upward trend. Total existing Miami-Dade County residential sales, including single-family and condo markets…
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August Commercial Improved Days to Sell Median Remains on Low Side at 104
Days to Sell Commercial Improved Property in Miami-Dade County (MLS) January 2010 to August 2015
Days to sell commercial improved property in Miami-Dade, where recorded in MLS, remained low in August as it dipped from an already low 110 to 104. This is not as low as the 79 level reached years prior, or the 83 days reached this past June, but nevertheless remains around a low “more or less 100 days” that this metric has hovered around for the past year or so after, in prior periods, moving around from 100 up to 150 days or more.
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Miami Commercial Property News September 22, 2015
Miami Worldcenter Files Plans To Build U-Haul Surface Parking Lot
Miami First, LLC, a Worldcenter affiliate, submitted plans late last month to build an ‘outdoor vehicle storage facility’ for U-Haul. The surface parking lot will be built at 1001 N Miami Ave, next to U-Haul’s existing facility. Nearly 50 trucks will be parked on the new lot, plans show. A six-foot fence will surround the property, along…
Pipeline Workspaces opens 14,000-square-foot office in Coral Gables
Shared office concept Pipeline Workspaces has opened its third location in Coral Gables. At first slated to open in April, Pipeline’s 14,000-square-foot office at 95 Merrick Way will cater to entrepreneurs, start-ups, lawyers and international business executives, the company said Monday.
Number Of Units Proposed At Worldcenter Reaches 2,569
Worldcenter proposed residential unit count as of September 2015 (excluding hotel): Rental units: Luma – 429; Block G West – 422; Block G East – 450; Block E Rental – 418; Total – 1,719. Condo units: Paramount – 470;
Block E Condo – 380…
North Miami Beach strip club could be redeveloped for mixed-use after acquisition
A group of developers plans a high-density, mixed-use development in North Miami Beach after purchasing a 2.2-acre site for $23.5 million. CK Holding Group, led by Alberto Kamhazi and Jacobo Kamhazi, and Prive Land Banking, headed by Javier Rabinovich and Mariano Karner, acquired the property at the northeast corner…
Ibis Hotel Coming to a Brickell Lot that Apparently Used to be Full of Chickens
An Ibis Hotel is being built by Galwan, a Brazilian developer, on a surface parking lot in Brickell, according to The Next Miami, that before it was a parking lot used to be called the ‘chicken lot’ because it was full of chickens. It might still be full of chickens, although Curbed didn’t check i…
Comment of the day: “Faena and Foster’s partnership has succeeded…
“Faena and Foster’s partnership has succeeded in creating the most pristine suites of sterility on the beach. The alero feature is dramatic, but everything else is a chromatic void probably best experienced behind oversized Persol shades, and a fedora.”—designated [Inside the First Faena House…
Walmart Wars: Chronicles of the Midtown Miami Walmart Wars, Continued
After being sued over and over again, Walmart is that much closer to opening its three-story, 203,000-square-foot superstore in Midtown Miami. On August 24th, Walmart won its latest appeal in Miami-Dade Circuit Court against neighborhood activists. The group of opposing residents argue the store
Commercial Real Estate National News Roundup For Sept. 22, 2015
Trump does Bali, the Fed hits the snooze button, European commercial investment levels are dropping jaws, and just what does three hundred bucks a square foot get you in Manhattan? It’s all here at the Commercial Real Estate News Roundup for September 22, 2015. General: The Verdict on…
PortMiami Hoping to Continue P3 Success
A new public private partnership (“P3″ or “PPP”) is coming to PortMiami. Royal Caribbean Cruises, LTD (“RCCL”) seeks to design, build, finance, operate, and maintain a new cruise terminal in the northeast section of the Port. RCCL’s plans have been…
After Record Sale, The Lincoln Up for Grabs Again
“We are seeing record high interest from retailers and companies looking for space on Miami Beach, particularly near Lincoln Road.”
Ken Krasnow Makes ‘Catches its Breath’ Prediction
“ If I had a crystal ball, I would say that in 2016 we will not see…”
Is the South Florida Market Too Hot?
Are we about to see a repeat of the crash that left condos in default and office space dark?
South Florida-born pizzeria to open 50th location
Anthony Bruno, who grew up in New York, said good pizza concepts were scarce in South Florida before he opened his coal-fired pie eatery in Fort Lauderdale. “I never really heard anybody tell me about places with great pizza,” he previously told the South Florida Business Journal.”I knew I could put out a pizza that people would talk about.”
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90 Miami-Dade New Improved Commercial Property Listings on MLS in Week to September 21, 2015
Miami-Dade Improved Commercial Properties MLS 7 Days to September 21, 2015
In the seven days to September 21, 2015, MLS shows 90 new listings for improved commercial/industrial properties within Miami-Dade County, up a bit from 83 the prior week ending September 14th. Notable among the listings is Miami Design District trophy property with an asking price of $11 million.
In addition to the 90 new improved commercial property listings in Miami-Dade County, 9 properties were put back on the market. 47 Improved commercial properties already listed had their asking price decreased, while 26 saw their price increased. Also during this period, 34 closed sales were recorded in MLS in the county for improved commercial property.
Other indicators during this time that commercial real estate investors may desire to review are trends in commercial real estate prices and availability. These metrics are influenced by trends nationally as well as by demographic and economic trends and expectations in the area. To get an idea for how the market is today, view Miami area commercial property listings filtered by zip code, price range, or property type.
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Miami Commercial Real Estate News September 21, 2015
About Keyes Commercial
Owner of Lincoln building in South Beach looks to cash out
The German firm that owns the Lincoln building on South Beach – just steps from the Lincoln Road Mall – has put it up for sale. The retail/office building at 1691 Michigan Ave. was recently listed for sale by Colliers International South Florida’s Stephen Rutchik and Jonathan Kingsley – the longtime leasing agents – and CBRE’s Christian…
Chinese developers American da Tang Group and China City Construction are planning to bring an “iconic” new building to the former Capital Brickell Place property in Brickell, according to Shanjie Li, the CEO of American Da Tang Group. Curbed Miami once affectionately dubbed…
Developer proposes 94-unit condo in Miami’s Edgewater
Condo developer Spider wasted no time in filing plans for its latest Miami project after buying land in the Edgewater neighborhood. On Aug. 19, the company led by Andres Goldenberg paid $4.4 million for the 27,000-square-foot site at 113 and 123 N.E. 25th Street. The land currently has small residential buildings.
Generator Hostels plans to convert Atlantic Princess Condo in Miami Beach
London-based Generator Hostels has acquired nearly all of the units in the Atlantic Princess Condominium in Miami Beach and plans to convert it into one of its first high-end hostels in the United States. From April 29 to Sept. 2, 102 units in the building at 3120 Collins Ave. were sold to G 3120 Collins LLC. The LLC was managed by Miami…
Wynwood developer scores $10M in loans to redevelop warehouses for retail/restaurants
J Cube Development obtained $9.75 million in loans from City National Bank of Florida to redevelop and retrofit two vacant warehouses in Miami’s Wynwood Arts District for retail and restaurants. Aztec Group’s Charles Penan and Howard Taft represented the developer in the transactions covering 201 N.W. 21st Street and 2217 N.W. Miami…
Firm Tapped To Market 77,000 SF Office Asset
Elizabeth Santos, Senior Vice President with Sime Realty, will be spearheading the leasing efforts.
Can You Spot These Architectural Details Around South Beach?
To the world Miami Beach equals Art Deco (well, except for the Fontainebleau, which is just as famous. No, actually the world probably thinks the Fontainebleau is deco too) and Art Deco… well, except for the Chrysler Building and maybe something in Paris, equals Miami …
Comment of the day: “I agree that Moishe Mana’s plan…
“I agree that Moishe Mana’s plan is ambitious and applaud his efforts. Hopefully he decides to just renovate the properties instead of tearing them down. Having historic status does really help save these buildings.”—Kevin Spores
Rep. Frankel’s opposition still blocking Palm Beach port expansion
Port of Palm Beach seeks $88.6 million to expand. Federal funding for a proposed plan to dredge and expand the Port of Palm Beach remains unavailable more than a year after U.S. Representative Lois Frankel told U.S. Army to withhold the money. Tim Murphy, deputy district engineer of the…
Home builders Lennar, Toll Brothers target renters
Toll Brothers is taking its regional rental business nationwide. Lennar Corp. and Toll Brothers Inc., two of the nation’s biggest home builders, are making a push into apartment construction despite doubts about the sustainability of the multifamily development boom. Lennar said…
Bay Harbor condo groundbreaking expected in 2016
Juan Carlos Gomez, a Colombian developer, intends to break ground for a seven-story, 41-unit condominium in Bay Harbor Islands early next year. Unit sizes at the Bijou Bay Harbor condominium would be 900 square feet to 2,000 square feet, and the prices start at $530 per…
Office complex in West Palm Beach for sale
The owner of the Forum office complex in West Palm Beach has listed the 280,000-square-foot property for sale.
The owner is an affiliate of Miami-based Panther Capital Management, which bought the Forum for $13.7 million in 2010. The Forum is a cluster of…
What the Fed’s Move Means for CRE
“The combination of no current interest rate hike and uncertainty about future tax policy should be a short-term catalyst for…”
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