Real Estate News

Jeremy Alters

Affair Allegations, Tampered Texts, Stay Tuned! Jeremy Alters' Bar Trial has Just Begun

By Julie Kay |

The Florida Bar's trial against Jeremy Alters alleging he is responsible for $1.1 million in trust account shortages began Tuesday and could last three weeks.

Real Estate Crowdfunding Seen Topping $2.5 Billion in 2015

Crowdfunding for real estate is likely to jump to $2.57 billion worldwide this year, two and a half times the total in 2014, as more people become comfortable with the investing model, research company Massolution said.

Setai Miami Beach

Miami Beach's Setai Hotel Sells for $90 Million

The families behind Jordache jeans and the Von Furstenberg fashion line spend $750,000 per room on the Collins Avenue property.

Brickell City Centre under construction

Construction Picks Back Up, But It's a Different Gig Now

As Florida's housing market tanked seven years ago, construction worker David Rager saw jobs dry up. So he left construction, along with 2.3 million others nationwide during the economic downturn, and got a job installing traffic signals and street lights.

At 789 Ft. the Four Seasons Hotel is the tallest building in Florida

Developers Pushing FAA for Sky-High Miami Towers

By Eleazar David Melendez |

Just weeks after the Federal Aviation Administration pushed back against plans for high-flying Miami skyscrapers, developers are joining efforts to save their tall proposals.

Georg H. Ketelhohn

Legislative Bills Would Make Life Easier for Contractors, Designers

By Samantha Joseph |

Construction defect and claim notices would change under bills being considered in the legislative session starting Tuesday.

Miami superstar musical couple Emilio and Gloria Estefan

Gloria and Emilio Estefan's Star Island Home Listed for $40M

By Eleazar David Melendez |

Emilio and Gloria Estefan's secondary Star Island house is up for sale, listed for a price that would set a record for the glitzy Miami Beach enclave.

Trader Joe's at 9205 S. Dixie Hwy.

Trader Joe's Is Coming to Davie

By Samantha Joseph |

The gourmet grocer signs a lease at the Tower Shops southeast of I-595 and University Drive.

19575 Collins Ave.

(Slideshow) Someone Paid $12M for the Entire 24th Floor at This Sunny Isles Condo

By Samantha Joseph |

A private buyer bought the 5,000-square-foot unit on the entire 24th floor of the Regalia tower.

Pending Home Sales Reach 18-Month High

The number of Americans signing contracts to buy homes rose at a healthy pace in January, a sign that home sales are poised to accelerate after

Bar at Il Mulino New York inside the Acqualina

Power Lunch: Il Mulino, a Great Place to Make Multimillion-Dollar Deals

By Eleazar David Melendez |

Il Mulino New York in Sunny Isles Beach serves up a luxurious power lunch scene for real estate brokers trying to close multimillion-dollar deals.

3rd DCA Hands Prive Victory in Sidewalk Dispute

By Samantha Joseph |

Homeowners lose a temporary injunction against the Aventura developers behind a disputed luxury condo project.

Dick’s Sporting Goods CEO Edward Stack

Dick's Sporting Goods CEO Buys North Palm Beach Mansion

By Samantha Joseph |

Dick's Sporting Goods CEO Edward Stack pays $12 million for a 9,000-square-foot home built on a private beachfront acre.

Why Lenders Love the $2.5 Million Home Loan

Home loans from $1 million to $5 million were the fastest growing part of the jumbo market in January, according to purchase application data from the Mortgage Bankers Association. Wealthy borrowers are seeking even bigger loans this year while luxury housing prices rise and lenders lure them with competitive terms.

Steady Home Price Gain Reflects Low Supply, Weak Sales

U.S. home price increases leveled off in December, reflecting a weak sales environment and a small number of homes for sale.

Panorama Tower rendering

(Slideshow) This Will Be Miami's Tallest Tower

When it is completed in 2017, Panorama Tower will be Miami's, and Florida's tallest tower.

Royal Palm Hotel at 1535 Collins Ave.

This South Beach Hotel Goes for $278 Million

By Eleazar David Melendez |

A Maryland-based hotel REIT is buying the 393-room James Royal Palm for $707,379 per key .

Indy 500 and “Dancing with the Stars” champ Helio Castroneves

Racer, Dancer Helio Castroneves Buys North Miami Beach Not-Yet-Built Condo

By Samantha Joseph |

Indy 500 and "Dancing with the Stars" champ Helio Castroneves buys a waterfront condo.

The Miami skyline in 2014 with Brickell on the left and Downtown to the right.

(Slideshow) The Five Tallest Buildings in Miami are...

Miami is experiencing another building boom. Cranes dominate the skyline almost as much as buildings do. So before all these new buildings are completed, here is a list of the five tallest buildings in Miami.

This Person Scaled Rise Brickell City Centre Building and Posted Photos on Instagram (Slideshow)

On Instagram he goes by @open.world and for some reason, he likes to scale buildings in downtown Miami and then post about it.

Contractors Support Bill on Construction Defect Notice

By K. Stefan Chin |

Companion bills would change notice requirements to give contractors more opportunities to address alleged construction defects and avoid litigation, writes attorney K. Stefan Chin.

Rendering of the Armani condos in Sunny Isles Beach

Dezer is Giving Armani a Chunk of Money to Design Elements for the Common Areas of Latest Condo (Slideshow)

By Samantha Joseph |

It's worth eight figures for Giorgio Armani to select the design elements for the common areas at a condo tower to be built by the Related Group and Dezer Development.

Darius Kasparaitis, Tim Lobanov, Gennady Barsky of The Verzasca Group

Russian Investors Plan Something Strange for Miami's Luxury-Happy Market: Something More Modest

By Eleazar David Melendez |

A group of Russian investors is taking an uncharacteristic dive into Miami's residential real estate market by betting more modest housing is a better investment opportunity than building yet another amenity-laden waterfront tower.

Biggest Residential Project Loan This Year: JPMorgan Lends $75M

By Eleazar David Melendez |

Money for the Brickell-area complex represents the biggest loan to a Miami residential project this year.

Housing Rents Rise in January

U.S. home rental prices rose at a steady rate in January, but prices barely budged or even dipped in parts of the Midwest and Mid-Atlantic.

777 Brickell Ave.

Brazilian Contractor Lands $140M Brickell Building

By Eleazar David Melendez |

The buyers who plunked $140 million for a waterfront Brickell office building are linked to a large Brazilian contractor, public records show.

First-Time Buyers See Housing Turning Point

Federal regulators adjusted mortgage rules to reduce risks for lenders and cut premiums and down payments, opening the door for more first-time homebuyers.

Donald Trump

Why Was Donald Trump in a Miami Courtroom?

By Eleazar David Melendez |

Celebrity developer Donald Trump testifies at a trial in a dispute with a tenant at the Trump National Doral Miami resort.

Nonprofits Earn $500K From Low-Income Housing Fund

By Eleazar David Melendez |

A Miami city agency is routing $500,000 in money borrowed for Overtown low-income housing to two nonprofits.

Aerial view of downtown Miami

Sun, Sand and Stir Fry? Miami Woos Chinese for Property: Cities

Miami has a Little Havana and Little Haiti, a neighborhood known as Westonzuela and even the Venetian Islands. What it doesn't have is a Chinatown.

Andy Ansin

It's a Good Time to Be a South Florida Industrial Landlord

By Samantha Joseph |

Vacancy rates are dropping, lease rates are rising, and new projects are underway.

Carlos Ferreira de Melo

Melo President Buys Blue Diamond Condo

By Eleazar David Melendez |

Carlos Ferreira de Melo bought a double unit in Miami Beach's Blue Diamond tower for $3.79 million, the most spent in that building during the current real estate cycle.

This Class A Brickell Office Tower Sells for $140M

By Eleazar David Melendez |

The Class A office tower at 777 Brickell Ave. has traded for $140 million, or $485 per square foot.

America's Golf Courses Host Meth Labs, Rattlesnakes

Real estate developers are working against zoning laws and deed restrictions to shut down unprofitable golf courses and develop the land for new homes.

John Olson, U.S. Bankruptcy Judge

Judge Rules Fashion Mall Must Be Sold at Auction

By Samantha Joseph |

U.S. Bankruptcy Judge John Olson rejected a plan to convert Fashion Mall's owner from a Chapter 7 bankruptcy to a Chapter 11 reorganization.

Shai Zamanian and Preeya Malik

Why These Two Miami Attorneys are Pushing EB-5 Visas in Dubai for Skyrise

By Eleazar David Melendez |

Shai Zamanian and Preeya Malik are trying to persuade people in Dubai to invest in Miami through the federal cash-for-visas EB-5 program.

Formerly owned by pop-star Enrique Iglesias, this Sunset Island home is listing for just under $25 million

Got $25 Million? Enrique Iglesias' Former Miami Beach Mansion (Slideshow) Can be Yours

By Samantha Joseph |

The "I'm a Freak" singer paid $3 million for the half-acre lot in 2000 and built an estate three years later. He sold the property for $7.85 million in 2004 to Marc Puleo, founder of PetMed Express.

Antonio Villamil

What Happened to the Latin American Cash in South Florida Real Estate?

By Samantha Joseph |

Economic adviser Tony Villamil said economic volatility in Latin America is stemming the flow of investors who paid cash for 90 percent of their U.S. deals.

Emerson Fittipaldi

Former Formula One and Indy 500 Champ Emerson Fittipaldi Buys Grove Penthouse

By Samantha Joseph |

Coconut Grove, one of Miami's oldest neighborhoods, is a new development hot spot. One of the latest buyers is race car driver Emerson Fittipaldi.

The $50M Sale of This Retail Center Is Palm Beach's Biggest This Year

By Eleazar David Melendez |

The Publix-anchored Polo Club Shoppes is traded by a New York real estate investment firm to a partnership linked to Atlanta's Jamestown.

Mark Zuckerberg

The Strange Fight Over Mark Zuckerberg's Bedroom

Mark Zuckerberg bought a piece of property after the owner threatened to build a house that would look into Zuckerberg's master bedroom.

DBR Announces Lifetime Awards, Attorney of the Year Finalists

By Review staff |

The Daily Business Review announces its first Professional Excellence Awards winners.

Exterior of The Hub Stores at the Franklin Hotel, located at 860 Collins Ave on Miami Beach

This Miami Beach Hotel's Concept to Attract European Retailers is Pretty Cool

By Samantha Joseph |

Think small and temporary. That's how a Miami Beach hotel is attracting European retailers to rent everything from wall space to turnkey popup stores.

Octavio Rinaldi

Argentinian Investors See Future in Brickell, Downtown Miami

By Eleazar David Melendez |

Octavio Rinaldi of Miami-based CWV Realty Group said a Brickell assemblage purchased for $16.25 million is "the tip of the iceberg."

Controversy Follows Watson Island Project

By Eleazar David Melendez |

Critics and boosters of a stalled mixed-use project on Miami's Watson Island found little common ground during a panel discussion.

Bellini Williams Island

What $4.36 Million Buys You in Aventura...

By Samantha Joseph |

...A penthouse with four bedrooms, 6½ baths and a price tag of $880 for each of its 5,000 square feet.

South Florida Economic Outlook 2015: Much to be Excited About

By Review staff |

Job growth, a renewed real estate boom and airport infrastructure, highway refurbishments and seaport expansion, all bode well for South Florida in 2015.

Down Arrow

REITs Poised to Fall as Estimate Outperformance Says Sell

After outpacing the S&P 500 Index for the duration of the bull market, real estate investment trusts may be getting ahead of themselves.

Renters Gain as Kids in America Move Out of Parents' Houses

Parents who've been waiting for their grown children to move out may finally be in luck.

Area 31 Terrace area overlooks the Miami River in the Epic Hotel

Power Lunch: At Epic's Area 31, It's All About the View

By Eleazar David Melendez |

On the terrace, "the stellar view by itself makes it unique," says Mika Mattingly, a commercial real estate broker who likes to power-lunch with out-of-town clients at Area 31.

How Many Homes Can Pulte Build on $48 Million Acreage it Purchased?

By Eleazar David Melendez |

The 260-acre purchase off Interstate 95 in Palm Beach County is approved for 275 homes.

Remodels Boom as Owners Choose Upgrades Over New Houses

Spending on renovations may rise to a record this year as homeowners with low interest rates decide to stay put and remodel their existing homes.

Mary Beth Reed, Director of Marketing & Business Development, Roof System Services, and David Hume, of David Hume Real Estate.

After Hours: Commercial Industrial Association of South Florida's 15th Annual Industrial Report

The Commercial Industrial Association of South Florida hosted its 15th annual Industrial Report at the Country Club of Coral Gables.

Home Ownership at Lowest in Two Decades

The share of Americans who own their homes was 64 percent in the fourth quarter, down from 64.4 percent in the previous three months.

Foreclosure

Should've Been Straightforward, But See How a Clerical Error Put BofA on Wrong End of Foreclosure Case

By Samantha Joseph |

What can go wrong in a foreclosure case went wrong in two Broward Circuit cases--the wrong legal description and a misplaced promissory note in the clerk's office.

Gold Coast Beer Distributors

Cheers! Beer Warehouses in Doral and Homestead Sell for $44 Million

By Eleazar David Melendez |

An Illinois food service company acquires two South Florida facilities from Gold Coast Beverage Distributors.

Steven Medwin

IndCor Signs 2015's Largest Industrial Lease for South Florida

By GlobeSt.com |

IndCor Properties has inked a 324,000-square-foot lease transaction with Floor and Decor Outlets of America at its Countryline Business Center in Miramar.

Homebuilders Boost Buyer Incentives to Increase Sales

As the key spring U.S. home-selling season approaches, buyers are finding deals on new houses as builders focus on boosting revenue.

Aerial view of downtown Miami

Meet Miami's $500M Brokers

The heat has returned to the Miami's real estate market. Construction for over 300 new residential towers are in the pipeline and business is booming. But is it another bubble?

Years After Crisis, Subprimes Are Bank With Different Name

The business of bundling riskier U.S. mortgages into bonds without government backing is gearing up for a comeback. Just don't call it subprime.

Jeff Atwater

Atwater Not Ready to Replace Insurance Commissioner

By News Service of Florida |

State Chief Financial Officer Jeff Atwater isn't ready to discuss a Louisiana official tabbed by Gov. Rick Scott as a possible replacement for Florida's longtime insurance commissioner.

St. Joe Gets SEC Wells Notice on Securities Violations

St. Joe Co., a northern Florida real estate developer, received a Wells notice from the U.S. Securities and Exchange Commission indicating the agency will file an action for securities-law violations, according to a regulatory filing.

Camilo A. Lopez, president and managing director of the Solution Group

Cassa Brickell Project Touts Condos With Open Space

By Eleazar David Melendez |

Camilo Lopez, president of the Solution Group, says the 10-story Cassa Brickell introduces a concept called "air houses."

Acre in Miami's Wynwood Sells for $7 Million

By Eleazar David Melendez |

A New York investor extends its substantial Wynwood holdings at $138 per square foot.

New Home Sales Jump 11.6 Percent

Sales of new U.S. homes accelerated strongly in December, a sign that home-buying may improve this year after a lackluster 2014.

Home-Sales Winning Streak Ends, First-Time Buyers Go Missing

A three-year winning streak for sales of previously owned homes in the U.S. ended in 2014 as some investors stepped out of the market and first-time buyers failed to fill the void.

Farmers Insurance Pays $62 Million for Broward Apartments

By Samantha Joseph |

The gated 79-unit Altis at Coconut Creek complex sells for $782,000 per unit.

Freddie Mac Headquarters at 8200 Jones Branch Drive, in McLean, Virginia.

Freddie Mac Selling $410 Million of Delinquent Home Loans

Government-backed mortgage company Freddie Mac is selling $410 million of deeply delinquent U.S. home loans in its second sale of the debt.

DR Horton Profit Beats Estimates as Home Sales Jumped

D.R. Horton Inc., the largest U.S. homebuilder by revenue, reported fiscal first-quarter earnings that beat estimates as sales jumped. The shares rose as much as 6.1 percent.

The Bath Club Estates rendering

A $50M Miami Beach Penthouse? Bravo TV Agents Pitch Just That

By Samantha Joseph |

The three-floor, 9,200-square-foot unit in Bath Club Estates is made for someone seeking the space of a single-family home and amenities of a luxury condo.

Big-Bucks: 7-Acre Miami Development Site Sells for $64M

By Eleazar David Melendez |

A Meruelo family company pays nearly $9 million an acre for a coveted development parcel in the Omni West neighborhood.

Three women waiting for an elevator on the Miami Tower parking garage.

Iconic Miami Tower's Broken Elevators Anger Tenants and Law Firms

By Julie Kay |

Tenants at the iconic 47-floor landmark are irate about broken city-owned elevators serving the office building's garage. Twenty-minute waits have become commonplace.

Tesla Model S

Wow! This is What a West Palm Condo Developer is Giving Away With Units

By Samantha Joseph |

Glozal Group is offering a free $70,000 Tesla Model S with dedicated parking space and built-in charger with each of the multimillion-dollar condos at Z Palm Beach Residences.

501 Northeast First Avenue

Downtown Miami Office Sale May Signal Redevelopment

By GlobeSt.com |

Aztec vice president Jason Katz says Miami's central business district is "one of the last bastions of dealmaking with Miami locals."

Resurgent Housing Seen Cushioning U.S. From World Woes

The best year for home construction since 2007 will help the economy weather slowing global demand for U.S. exports and a drop in energy prices.

Public hearing sign posted on SW 5th Ave. and 6th St. in Little Havana.

Shocking Accusation: Activists Say Miami Allows Developers to Displace Poor

By Eleazar David Melendez |

As the real estate boom makes Miami increasingly unaffordable, activism around affordable housing and gentrification is heating up.

Third District Court of Appeal

3rd DCA Reverses Dismissal of Active Foreclosure Case

By Samantha Joseph |

It seems the rush to clear Miami-Dade's clogged foreclosure docket backfired on appeal.

Foreclosure

See What Happens When a Mortgage Transfer Goes Wrong

By Samantha Joseph |

The Fourth District Court of Appeal finds "a piece of the foreclosure puzzle" missing and sides with homeowners over HSBC.

3800 NE Miami Court

$26 Million Miami Design District Retail Sale Sets 4-Year Record

By Eleazar David Melendez |

The furniture store sale sets the record as the largest price tag in the last four years in the neighborhood.

Three Land Use Legal Battles Worth Noting

By GlobeSt.com |

Richman Greer attorney Manny Farach analyzes three major land-use cases of the past year.

 All Aboard Ft. Lauderdale Rendering

Moss & Associates to Build 2 All Aboard South Florida Stations

By Samantha Joseph |

The general contractor will supervise construction of All Aboard Florida stations in Fort Lauderdale and West Palm Beach.

Gordon Ramsay

Gordon Ramsay Loses Court Battle Over $1M Rent on London Pub

Celebrity chef Gordon Ramsay is facing a real-life kitchen nightmare after a British judge ruled him personally liable for the $1 million annual rent on a London gastropub.

Glen H. Waldman

Developers Sue, Claim Aventura Stands in Way of Luxury Condos

By Samantha Joseph |

Developers file a $200 million suit against Aventura to start construction of Prive at Island Estates.

Lincoln Road

Lincoln Road, Doral's 2015 Retail Outlook is Strong. But Why?

By Globe.St.com |

Miami Beach's Lincoln Road and Doral are good retail real estate bets for 2015, Aztec Group managing director Jason Shapiro says.

Blackstone Said to Market First Rental-Home Securities of 2015

Blackstone Group LP is offering the first securities of 2015 tied to rental homes, the start of what Morgan Stanley analysts predict may be a more than doubling of issuance this year in the nascent market for such debt.

Home Depot-Lowe's Bull's-Eye Housing Rebound Has Analysts Divided

The seven-month stock rally for Home Depot Inc. and Lowe's Cos. could be at risk as the U.S. housing market stalls.

212 Gallery at 2407 NW 2nd Ave. in Wynwood

So Just Why is Wynwood Landing Deep-Pockets Buyers Paying Record Prices?

By Eleazar David Melendez |

A New York company pays a record $770 per square foot for an industrial-zoned property in Miami's Wynwood neighborhood, the latest darling of real estate investors.

Skyrise rendering

Skyline Bling: A $430M Hairpin Tower Bid for Tourism

American cities are starting an architectural arms race to the sky with super-sized Ferris wheels, a 100-story observation tower and maybe even a mammoth golf ball atop a 300-foot tee planted in the Arizona desert.

Home Lending to Bounce Back in 2015 After Slump

Chief economists at Fannie Mae and Moody's Analytics Inc. as well as the Mortgage Bankers Association all predict a turnaround for the U.S. mortgage market this year after a record decline in 2014.

Stuart Miller

Lennar Profit Increases as Home Sales Rise Despite Higher Prices

Miami-based Lennar Corp. said fiscal fourth-quarter earnings climbed about 50 percent as it sold more houses at higher prices.

Foreclosures Fall to Levels Before Housing Bust

The number of homes repossessed by banks fell 29 percent last year to the lowest level since 2006, a year before the subprime mortgage crisis.

Ex-Tyco Execs House in Boca Sells for Disappointing $10M

By Eleazar David Melendez |

The former home of convicted Tyco International CEO Dennis Kozlowski was built with a $19 million and originally listed for $25 million.

Cesar Garcia-Pons, deputy director of the City of Miami Planning Dept, left, and Brian May, lobbyist for the Watson Island project, in front of the City of Miami Beach commission.

We Object: Miami Beach Beefing About Miami's Watson Island Plans

By Eleazar David Melendez |

Miami Beach wants Miami officials to reconsider the scale for a major hotel-marina project planned on Watson Island.

In Hotel Sale Boom, WARN Act Requires Attention

By Frank Scruggs |

In boom times, as in times of economic distress, hotel property acquirers seek a workforce to deliver a customer experience that helps boost occupancy rates and preserve guest loyalty. But they also seek to avoid liability for any employment law violations committed by the seller.

Rocco DiBenedetto, Miami-Dade Contractors Alliance

Building Trade Group Sues 80 Contractors, Claiming They're Unlicensed

By Samantha Joseph |

Contractor Rocco DiBenedetto says he competes against dozens of companies who can undercut him in price because they don't pay licensing fees.

S&P Said Near $1B Mortgage Ratings Settlement With US

Standard & Poor's is close to a settlement of about $1 billion with the U.S. for allegedly misleading investors about its ratings of mortgage-backed securities before the subprime crisis, a person familiar with the matter said.

Garage under construction for the 192-unit Jade Signature condo at 16901 Collins Ave.

Drill, Baby, Drill: You Won't Believe How Many Feet This Sunny Isles Beach Garage Goes Down

By Eleazar David Melendez |

The parking garage in Sunny Isles Beach will take Lamborghinis and Maseratis three levels underground, a difficult engineering feat requested by the developer at a cost of $25 million.

Andrew B. Hellinger

River Landing Developer Seeks County Grant for Infrastructure

By Samantha Joseph |

First it was Miami World Center and SkyRise Miami. Now a third developer is asking for public land and millions of dollars in government subsidies for a massive project.