Downtown Miami

Mega-complex seeks PortMiami land

A proposal to put a $240 million maritime center – which would include convention space, a hotel, a yacht marina and related facilities – in the southwest corner of PortMiami could pump $76 million into county coffers in lease payments and taxes over 10 years.  Miami-Dade’s Trade…

Brickell apartment tower nabs $40M construction loan

The Brickell Ten apartment tower obtained a $39.7 million construction loan from Ocean Bank.  The Miami-based bank provided the mortgage to Brickell Ten LLC, a joint venture between IB Corp. and Bay Harbor Islands-based Waterstone Capital, which is led by Richard Waserstein. Construction of 155 apartments and 13,400 square…

As world trade plunges, Miami’s dips

Due to economic turmoil affecting several key trading partners, international trade has been slow so far this year in the Miami Customs District, which covers airports and seaports from Palm Beach to Key West, said Manny Mencia, senior vice president of international trade & business development…

Key Biscayne retail strip sold for $15M

A strip of retail buildings on Key Biscayne sold for $15 million, or an eye-popping $1,030 per square foot.
Key Biscayne Gateway Partners, managed by Max Puyanic, sold the retail buildings and parking lot at 12 and 24 Crandon Blvd. to ES KB Partners, managed by Eric Soulavy. He also owns the Marina Inn in Key Largo…

Turkish bus manufacturer picks county plant site

A partnership formed to build eco-friendly buses has lined up a Miami-Dade County manufacturing site.  Nopetro|OHL, a joint venture of Nopetro and Karsan U.S.A., plans to make cost-efficient buses powered by compressed natural gas (CNG). It has picked a Medley building where it hopes to begin work so…

Ripples from China’s woes swaying Miami

Although Greece’s debt crisis and China’s volatile stock market are phenomena occurring thousands of miles away, Miami’s increasingly global business and financial communities feel the ripple effects of issues toying with the global economy.  While the contagion effect by Greece may…

China weakness hurts South America’s growth

Miami’s international trade may weaken in coming months due to plummeting commodity prices, which slid to a 13-year-low this month, according to the Bloomberg Commodity index. As of Tuesday, commodities slightly edged back upward.  Miami’s major Latin American trade partners such as Brazil…

HFF Closes $35.5 Million Sale Of Mixed-Use Development Site In Miami

The site is poised to be home to a world-class mixed-use development featuring retail, hotel, residential, office and/or marina uses.

Coconut Grove Office Condo Building Sells For $9.6 Million

Tony Puente of Fairchild Partners and Otto Travieso of Real Capital Partners convinced all office condo owners to unite and sell the entire building.

New Five Star Hotel, Renderings for South Beach’s Shore Club

The historic South Beach mainstay, the Shore Club is going full on Brazilian, first with high style Brazilian designer Isay Weinfeld doing a massive overhaul of the property. Renderings show lots of white, white, white, with little, super-minimalist architectural details, and glimpses of wood…

Port of Miami Development Proposals Revived Yet Again

David Beckham couldn’t get it. Multiple other proposals fizzled out. Now a new developer is hoping to secure a 90 year lease at a fuel spill facility site at the southwest corner of PortMiami to develop a new waterfront expo center, 800 room hotel, marina, and commercial facilities…

Coral Gables Transforming With Mixed-Use Projects

A CREW-Miami panel recently discussed how a booming commercial sector, public art, and pedestrian-friendly developments are all part of the future of Coral Gables.

Ugo Colombo picks up Coconut Grove office condo building

Ugo Colombo’s CMC Group has just bought an office condo building in Coconut Grove for $9.6 million, expanding the developer’s portfolio of income-producing assets, The Real Deal has learned.  The building, at 2950 Southwest 27th Avenue, was…

Bay Point development site trades for $6.9M

A home from the 1960s in Miami’s Bay Point neighborhood is headed for redevelopment after it was sold for $6.9 million.  The home, which was built in 1963 and measures 4,708 square feet, was sold for its half-acre…

Construction updates for three SoFla projects

As the end of 2015 grows closer, a bevy of new condo projects are breaking ground and going vertical. Check out this roundup of how some of South Florida’s biggest residential buildings are progressing.  Construction photos of the One Thousand Museum concrete pour…

Chateau Beach marks 38th new SoFla condo tower completed

Developer Manuel Grosskopf of the Chateau Group has completed the first of at least three new condo projects planned on the barrier island in Miami-Dade County during this South Florida real estate cycle that began in 2011.  Transactions in the newly…

Aloft Hotel announced for Aventura ParkSquare

Aloft Hotel is coming to Aventura ParkSquare, developer Integra Investments announced on Tuesday.  The Aloft, a W Hotels brand, will feature 207 rooms, an Aloft W XYZ bar and a pool deck. Construction will begin this fall and be completed by the spring…

All Aboard Florida closes on land for Overtown office tower

All Aboard Florida just closed on a $5.4 million land deal to build an office building near its downtown Miami rail station.  The development site is a two-acre surface parking lot at 160 Northwest Seventh Street. All Aboard…

This Project is 30 Years in the Making

It’s also one of a very few communities in Miami-Dade county that has been designated as LEED neighborhood thanks to its abundance of public green spaces….

Is This the Answer to Affordable Housing?

MIAMI—Steve Joung, CEO of Pangea Properties, has a unique model for more affordable housing. Is this the answer for Miami and beyond?

Cause and Effect of Shrinking Retail Inventory

Commercial real estate professionals from around the nation agree on at least one thing: Florida’s retail market is one to watch. And many are watching it closely.

Once and Future Flagler Street

Miami-Dade College history professor Paul George remembers when Flagler Street was literally Miami’s main street. “Growing up here in the 1950s,” he says, “downtown was the center of almost everything. There were movie theaters, Burdines, five-and-dime stores. It was wonderful. It’s sad to see what happened to it.”  What happened to it?

Hallandale Beach considers Oasis project: 500 units plus hotel

A massive mixed-use project called the Oasis, with 500 multifamily units plus a hotel, office and retail, has been proposed in Hallandale Beach.  Romagnole Investment Properties, managed by Mireya de Iadisernia and Guiseppe Iadisernia in Miami Beach, filed plans for the project at 1000 and 1100 E. Hallandale Beach Blvd. – on the north…

Keyes Commercial Realty

PortMiami Land Once Eyed By Beckham For Soccer Stadium Could Get A Hotel And Convention Center

A company is proposing to develop a project called Miami Yacht Harbor at PortMiami, on land where David Beckham wanted to build a soccer stadium.  MITC-2015 Inc. is the company that is pushing the proposal. Rene LaComb, who was part of an investment group last year that unsuccessfully tried to take over the Miami…

Regions Bank lends $16M for Bridge Development industrial project in Miami-Dade

Bridge Development obtained a $16.4 million construction loan from Regions Bank for its industrial project in Hialeah Gardens.  Bridge HG Two, an affiliate of the Chicago-based developer, was awarded the mortgage to build Bridge Point Crossroads West, a 242,000-square-foot industrial park. It’s on the east side of Northwest 112th…

UM Life Science & Tech Park seeks county funds for $112M expansion

The owner of the University of Miami Life Science and Technology Park has requested county funding to support a $112.1 million expansion with a mixed-use hotel and innovation center.  The project would bring one of the world’s most successful coworking space innovation companies to Miami. The catch is that the commission has…

How Art and Coffee Birthed Miami’s Hippest Neighborhood

In front of Panther Coffee, where her work is showing for a second time, muralist Jenny Perez works through mixed emotions, poised beneath the soft, ribbed ferns and vibrant red flowers of a Royal Poinciana. Wynwood, her stomping ground since 2008, became Miami’s cultural gem in whirlwind fashion, dressing an unmistakable…

Century-Old Downtown Miami Business Heads To Hialeah

The resort apparel company signed a long-term lease for 26,000 square feet at 9800 NW 78th Avenue.

5 Office Trends to Watch in Florida by Doug Irmscher

As Florida’s commercial real estate market enters the second half of the year, a lot of excitement and caution abounds in the marketplace. JLL took a look at what’s trending in the office space landscape from down in Palm Beach up to Jacksonville, covering the key markets the firm serves…

Losing Our Religion: Design District’s Extraordinary Wrought Iron Steeple is Now Just a Pile of Junk Metal

The developer who purchased the old Seventh Day Adventist Church in the Design District has just knocked it down, including the church’s extraordinary wrought iron steeple and bell tower. These photos of the carnage were provided by photog and Curbed reader Phillip…

Development Update: Residences by Armani/Casa to Open Sales Center in October, Break Ground This Fall

According to a press release, the Related Group/Dezer collaboration the Residences by Armani/Casa is scheduled to break ground in October, with its $8 million sales center opening sometime in the fall as well. Sales as of August 5th had reached 60 percent…

Infrastructure Watch: Bernard Zyscovich, Public Space Challenge Winner, is Bringing a Big-M-Shaped Bus Stop to Bayside

Zyscovich Architects has won $22,000 in the Miami Foundation’s Public Space Challenge to bring fun, funky bus stations to key locations around Miami, beginning in front of Bayside Marketplace with an initial concept bus shelter shaped like a big M. according to …

Zaha!: One Thousand Museum’s 24 Hour Concrete Pour had a Zaha Hadid Branded Truck Out Front

One Thousand Museum, Zaha Hadid’s Downtown Miami condo tower, began its 24-hour concrete foundation pour with a party Friday night and the pour continuing through Saturday. About 1000 truckloads of concrete were used in the pour, according to the developer…

Comment of the day re Grove Chart House: “Please tell me this doesn’t mean…

“Please tell me this doesn’t mean The Chart House will be demolished for this soulless design. There’s enough of this happening in Miami, can we please keep some of the little history we have left? Yes, the Chart House is California designed and built during the 80’s which was a time we’d all love…

National Commercial Real Estate News Roundup For August 24, 2015

On a morning of Wall Street and global equity market correction, sell-side signs in commercial RE mount, yet the secondary and tertiary markets that lagged and logged the least recovery look best from an investment standpoint. It’s all here at the Commercial…

Zyscovich designing bus shelter for Bayside Marketplace

Architect Bernard Zyscovich’s firm is designing a bus shelter at Bayside Marketplace, as part of a winning concept for the 2015 Public Space Challenge.  The challenge, funded through a $22,000 grant from the Miami…

Argentine developers plan office condo project in Ojus

A group of Argentine developers is planning to build an office condo tower in Ojus, just west of Aventura, The Real Deal has learned.  Privé Land…

Off Lease Only auto dealer boosts loan for mixed-use project

Off Lease Only, a used car company based in South Florida, took out an additional $7 million in financing for a planned, mixed-use auto dealership, Palm Beach County records show.  Mark J. Fischer and Eileen C. Fischer of Off Lease Only are the borrower…

Waterfront site in Fort Lauderdale sells for $13.5M

A condominium development site on the Intracoastal Waterway in Fort Lauderdale has traded hands for $13.47 million, or $396 per square foot, according to Broward County records.  Fort Lauderdale-based Atlantic Residents Development…

Where Is the Demand for Office?

The national office vacancy rate remained unchanged from the first to the second quarter, mired at 16.6 percent and moving down just 30 basis points over the past 12 months. Monthly job growth has been choppy as of late, though recent months have been more heartening. And while we still expect an uptick in economic activity over the course…

Some Multifamily Markets May Be in the 7th Inning

Investors looking to avoid institutional competition and obtain better yields may want to take a look at secondary markets like Atlanta, Chicago, Dallas, Houston, Las Vegas and others, Sunroad Enterprises’ Mike Dow tells GlobeSt.com. Dow recently joined the firm as president of its multifamily division. We sat down with him…

Construction Watch: Brickell City Centre’s Last Construction Crane has Come Down

The last of eleven cranes that graced the construction site of the massive Brickell City Centre megaproject recently came down, according to the developers, representing just how near the interconnected buildings are to being finished. When City Centre broke ground…

Semi-Reprieves: Scotty Evicted From Scotty’s Landing, Beginning its Transformation Into This

News broke in various outlets yesterday that the iconic Miami food & watering hole Scotty’s Landing had been evicted from its Grove Key Marina site on Biscayne Bay. Then today those outlets dutifully turned out updates saying that no, Scotty’s Landing would not be departing, but Scotty would.

Storefronting: Historic Lincoln Road Med Revival Retail Building Restored

Tristar Capital, the developer controversially replacing the courtyard of the Miami Beach Community Church on Lincoln Road with some very fancy new stores, just completed another retail building right next door, and this is it. The two story, historic Mediterranean…

What OIR-Bond Alliance Means for CRE

“During the most recent cycle we have seen a significant increase in buyers coming from New York.”…

DOC Report Reveals Miami Catching Up to New York

Miami is the second-fastest growing destination in the United States for overseas visitors. What does this mean for commercial real estate?

Miami’s Cash Transactions Double National Average, Home Sales Rise in July

Based on the latest data from the Miami Association of Realtors, the Miami real estate market continued its historic summer by registering its second-highest single-family home sales month in history in July 2015.  Miami-Dade County had 1,354 single-family home sales in July 2015, nearly eclipsing its record of 1,390 transactions…

Four big developments on Broward agenda, hundreds of high-rise apartments

The Broward County Commission will consider four development proposals for the first time on Aug. 25, with three high-rise apartment towers and a furniture store.  First up, a developer wants to build 345 high-rise apartments in the Florida Park project in Dania Beach.  The 4.1-acre property is on the south side of East Dania Beach…

Kristopher Wagner Closes Sale Of Exclusive Key Largo Resort

The 11-room resort property, which also features an owner’s suite, is considered one of the most exclusive resorts known to the Florida Keys.  Kristopher Wagner is with Keyes Commercial Realty, a leader in Miami-Dade commercial real estate…

PortMiami Tunnel needs your vote!

Cast your vote for the 2015 America’s Transportation Award! The $666 million multimodal project has successfully decreased traffic congestion in Downtown Miami. Voting runs from Aug. 17 through Sept. 11.

Coral Gables transforming with mixed-use projects

Public art, pedestrian-friendly developments, and a booming commercial sector are all part of the future of Coral Gables, commercial real estate experts discussed at a panel on Wednesday. Paseo de la Riviera is among the new projects. The planned, mixed-use development will replace an existing Holiday Inn with a open-air…

Luma And Vice Apartment Towers Are Quickly Approved By The FAA

Two proposed downtown rental towers were approved by the FAA this week:  ZOM Development’s Luma at Miami Worldcenter was approved to be built at a height of 494 feet above ground, or 503 feet above sea level. The 44-story tower will include 429 units. Groundbreaking is expected in early 2016.  PMG’s Vice at the former Empire…

Melo Group nabs $95M Ocean Bank loan for Miami condo project

Melo Group obtained a $95 million construction loan for its Aria on the Bay condominium tower in Miami’s Arts & Entertainment District.  Miami-based Ocean Bank provided the mortgage to the Miami-based developer for the 647-unit project at 1770 N. Bayshore Drive. Site development work recently started and vertical construction…

Cranes flock away from Brickell City Centre

The last of 11 construction cranes for Brickell City Centre was removed last weekend, The Real Deal has learned.  Most of the cranes, which ranged from 100 feet to 500 feet, made up to 120 lifts a day, working nonstop. The cranes began arriving at the Brickell City Centre site in June 2013.  Their features included:  Special structural steel…

Florida Community Bank lends $47M to Little Havana condo project

The InTown condominium project in Miami’s Little Havana obtained a $46.7 million construction loan from Florida Community Bank.  The Weston-based bank (NYSE: FCB) provided the loan to Astor Intown, an affiliate of local developer Astor Cos. led by President Henry Torres. The 320-unit project broke ground in February…

Signature Coral Gables Building Trades

The 1955-built, signature 2-story building formerly served as the executive offices for Mayor’s Jewelers.

Bankruptcy filing by Miami Gardens warehouse owner stays foreclosure auction

The foreclosure auction of a Miami Gardens warehouse was stayed after the owner filed Chapter 11 reorganization.
The debtor, 5255 Holdings, made the bankruptcy filing in Miami on Aug. 15. The foreclosure auction was set to take place on Aug. 17 after U.S. Bank, representing a securitized commercial mortgage (CMBS) trust, won…

How Technology Is Shaping CRE

There is no doubt that technology has transformed our culture in every way. From how we communicate to how we buy services and how, and where, we work. But lately, technology’s impact has hit closer to home, in our industry. Technological advances in the commercial real estate (CRE) sector have accelerated exponentially…

CBRE Promotes Four In South Florida

Dave Donnellan, Chris Wood, A.J. Belt from the Fort Lauderdale office and Clarissa Willis from the Miami office were promoted.

Berger Commercial Closes Sale Of Broward Lakes Business Park Property

Berger Senior Vice President Steve Hyatt represented the seller in the transaction.

National Commercial Real Estate News Roundup For August 20, 2015

Will she or won’t she (raise rates)?, Chinese capital jetting around the globe, Facebook’s $1B like-button storage facility, and hospitality sector optimism put to the test.  It’s all here…

Thirty Story Mixed-Use Tower Coming To North MIami Beach

An Argentine development group is planning to turn a North Miami Beach parking lot into a mixed-use apartment tower that will be one of the tallest buildings in the area.

400-Plus Investors Looked at This Retail Asset

“LNR’s strategic repositioning of the asset through renovations and solidifying the tenant roster created material value, and garnered maximum investor interest.”

Office Today, Apts. Tomorrow: Office-To-Residential Conversions Expanding Across More U.S. CBDs

A funny thing is happening in downtown markets where empty and obsolete office buildings are being converted into apartments. Companies that wouldn’t consider a downtown location back when the space was available are coming back, drawn by the large number of millennial workers who favor a funky downtown address.

South Florida has third-highest foreclosure rate in July, RealtyTrac says

The South Florida region had the third-highest foreclosure rate among metro areas in July as the number of filings increase, according to RealtyTrac.  There were 7,285 foreclose filings in the tri-county area in July. That’s up 31 percent from June and up 24 percent from July 2014. RealtyTrac counts new lawsuits, notices of auction…

South Florida home sales and prices jump in July

Home sales increased by double digits in South Florida during July and prices also grew, according to the Florida Realtors.  There were 4,847 sales of existing single-family homes in the tri-county area, up 13.8 percent from the same month a year ago. The median sales price increased 7.3 percent to $295,000.  The statewide…

Brickell City Centre: Six more stores added to lineup

Brickell City Centre’s developers have confirmed six retailers for the massive development’s shopping center this week:  Ted Baker, a contemporary menswear and womenswear brand from the U.K.; Addict, an apparel and accessories company also from the U.K.; Agent Provocateur, a luxury intimate apparel brand; 100% Capri…

Keyes Commercial Realty

Vast Mediterranean Village moving ahead

Mediterranean Village at Ponce Circle is proceeding on schedule, say its developers, who plan to submit construction drawings currently being prepared to the City of Coral Gables by year’s end.  At the same time, engineers are devising proposed construction techniques for excavating and sealing the two-story underground garage that will house…

Brazilian hotel brand to replace Morgans at Shore Club

Brazilian hospitality firm Fasano will operate the Shore Club in Miami Beach, replacing Morgans Hotel Group, developers confirmed to The Real Deal. New York-based HFZ Capital Group, which acquired the Shore Club for $175.3 million in December 2013, will reopen the hotel as a Fasano at the end of 2017. Brazilian architect Isay…

River mega-yacht marina slip sales begin

The plan to build a secure marina for mega-yachts on the Miami River is moving forward at a steady speed, with sales for the unique project kicking off a couple of weeks ago.  SeaVault is designed as a temporary home for 14 mega-yachts with living quarters for captain and crew. The plan includes a clubhouse, tennis court, swimming…

Miami’s CBRE, Colliers Play Musical Chairs

Kenneth Krasnow has switched allegiances and others have been promoted. Get all the details….

FIU Students Push Plan to Bring Maglev Trains to Miami Beach

During rush hour, the 18-mile commute from FIU to Miami Beach can easily take 45 minutes by car. On public transportation, that same trip now requires at least three buses and some two hours to complete.  But a group of FIU students has a plan to make the trip far easier — in the form of a Maglev-style train connecting the university…

Sitel Leases 114,000 SF at Pompano Business Center

Sitel Operating Corporation has signed a 114,000-square-foot office lease at 2500 NW 19th St. in Pompano Beach, FL.  The Nashville, Tenn.-based global customer care provider will open a new inbound financial services call center next month, immediately adding 350 new employees with plans…

CoFe Properties Acquires Por North Miami Business Park

TA Realty sold four industrial and flex buildings located in The North Miami Business Park for $21 million, or approximately $100 per square foot, to CoFe Properties LLC.  The North Miami Business Park is located at 1922-1998 NE 147th Ter, 1924-1996 NW 148th St, 1922-1998 NE 49th St., and 14855…

Walsh Joins CRE Rauch Lupo Robertson

CRE Rauch Lupo Robertson, a CRE Florida Partners Company, has hired David Walsh to join the firm as a multifamily specialist and senior investment associate based in the company’s Boca Raton office.  In his new role, Walsh will lead and build the firm’s multifamily businesses…

Invesco Sells Addison Place Apts

Invesco Advisors, Inc. sold the Addison Place Apartments, the villa and townhome-style apartment community located at 21925 Mizner Way in Boca Raton, FL to JRK Property Holdings for $34 million, or about $205,000 per unit.  At the time of sale, the 166-unit multifamily complex was approximately…

KBS Closes on $46.8M Acquisition of Weston Corp Ctr I & II

SE Commerce, Inc., an affiliate of New York-based BlackRock Realty, sold the Weston Corporate Centre I & II office buildings located at 2700 S. Commerce Pky and 2500 Weston Rd., respectively. KBS Realty Advisors paid $46.75 million, or about $313 per square foot, for the pair.  Totaling…

Lifestyles of the Rich and Richer: The Suspended Glass Pool at the Mansions at Acqualina is Really as Thrillingly Exhilarating as It Looks

To be inside the glass-walled penthouse pool atop the almost-complete Mansions at Acqualina in Sunny Isles Beach is at first scary in a way that leaves a person gasping for air just a little bit. Then the adrenaline kicks in and you feel like a master of the universe…

Coming Attractions: Former Ritz Carlton CEO Planning 40-Story Condo/Hotel at North Miami’s Old School Jockey Club

Back in the swinging 70s, North Miami’s Jockey Club was one of a few private clubs/condo developments (along with the Palm Bay Club, the Cricket Club, etc.) that were the places to party in Miami. Now Horst Schulze, a former CEO of Ritz-Carlton, is planning a new 40 story condo/hotel tower…

Development Update: Midcentury ‘International Design Center’ in the Design District to be Replaced with Neoclassical Retail

An architecturally significant midcentury modern office building at 4141 North Miami Avenue, on the edge of the Design District and Buena Vista neighborhoods is being fully gutted and transformed into a neoclassical retail building with two levels of retail, a covered colon…

Miami tops nation with foreclosures in July

Miami had the nation’s highest rate of residential foreclosures during the month of July, according to a new report from RealtyTrac.  The report shows that one in every 339 homes in the Miami metropolitan…

The Latest Investment Sales Trend

There’s a new trend on the investment sales scene—and David Duckworth, vice president with Avison Young, has his finger on its pulse….

Click to view Miami Office Property Trends

International Money Is Stretching Out the Recovery Cycle

Remember the phrase “follow the money”—meaning that understanding a complex deal requires examines where funds are heading? Today, an appreciation of our elongated recovery might actually mean looking in the opposite direction, at the burgeoning source of real estate investment capital.

35 new foreign trade zone hubs likely

Port officials estimate Prologis, one of the world’s largest industrial property owners, should receive permission in the near future to create a foreign trade zone magnet hub in Northwest Miami-Dade County, adding to the growing number of sites PortMiami oversees since winning approval to…

Action put off on Gables US 1 project

The Coral Gables Planning and Zoning Board last week deferred making a decision on recommendations by city staff that Paseo de la Riviera, a mixed-use project at 1350 S Dixie Hwy., go forward, subject to conditions.  About 250 neighbors and others turned out for the Aug. 12 meeting, but by the time…

Tennis tournament seeks more stadiums

The Miami Open will take place March 21-April 3, 2016, and almost certainly in the same location for a few more seasons, despite ongoing litigation concerning control over Key Biscayne’s Crandon Park, where the tennis tournament has been held every year since 1987.  However, officials for tournament…

Industry Exec Parts Ways With CBRE, Named Colliers South Florida Executive Managing Director

Former CBRE Managing Director Ken Krasnow will lead Colliers’ South Florida business, focusing on strategic growth in the region.

Aventura ParkSquare’s Signature Office Tower Sold Out

The record sales achievement was reached after just a few short months on the market.

Denholtz Associates Acquires Industrial-Flex Property From KTR

The small-bay warehouse center is currently 75 percent leased.

Inside Hyde Beach Club, Related’s First Freestanding ‘Beach Club,’ Which Just Had Its Soft Opening

Sort of a new concept that the Related Group has started adding to its particularly large megaprojects, Hyde Beach Club, the first of Related’s two new ‘beach clubs,’ has had its soft opening according to Carlos Rosso of Related. The multilevel building…

Development Update: The Bond on Brickell Tops Off, Will Finish by Early 2016, British Themed and All

The Rilea Group’s The Bond on Brickell has just topped off at 44 stories according to the developer, and will be the first new condo tower completed on Brickell Avenue since the crash when it finishes in 2016. Although the main block of The Bond on Brickell is actually on…

NAI Miami’s Timothy Merriman Negotiates Investment Sale

The buyer was an Israeli developer currently purchasing several parcels in the area.

Stefano Ricci opening first SE boutique in Design District

Stefano Ricci will open a boutique in Miami’s Design District, in space leased from Thor Equities, The Real Deal has learned.  The Italian luxury menswear brand will be located at 20 Northeast 39th Street, Thor told TRD. The 5,700-square-foot retail…

Mansions at Acqualina marks 37th new SoFla condo tower completed

Transactions are underway at the 37th new condo tower to be completed in coastal South Florida since this current real estate cycle began in 2011.  Deeds started to be recorded on Aug. 10 for units in the newly constructed Mansions at Acqualina oceanfront…

Abacoa Corporate Center in Jupiter sells for $7M

The Abacoa Corporate Center in Jupiter has sold for $6.95 million, or $272 per square foot, Marcus & Millichap announced on Monday.  Cove Neck Properties LLC, a Melville, New York-based company tied to Northville Industries, sold the 25,566-square-foot building…

REIT completes $33.5M deal for Fort Lauderdale hotel

The Chatham Lodging Trust, which had announced in July that it was paying $55 million to pick up two Residence Inn hotels in the United States, just closed its South Florida portion of the deal.  The REIT paid $33.5 million for the Residence…

Q&A with Tony Cho: on revitalizing Miami’s urban core, expanding to Broward

Tony Cho, founder and CEO of Metro 1, ended July with a company record: $80 million in transactions. It was a milestone for Cho, who started his real estate career in 2000 with plans to be a “Realtor to the…

Coastal tops off the Bond on Brickell high-rise

The Bond on Brickell, a 44-story condominium tower in the Brickell area, topped off on Monday.  The project, developed by Rilea Group and MDR Toledo, is 97 percent under contract. Nichols Brosch Wurst Wolfe…

Foreign Investment in U.S. Real Estate Assets to Hit Record High

The wave of foreign capital flowing into U.S. real estate is poised for a record-setting year.  “We have strong inbound capital that we believe will see the U.S. exceed the previous peak of 2007 by year-end,” says Lucy Fletcher, vice president of international capital group and capital markets with real estate services firm JLL. As of mid-year…