Real Estate News

117 NE First Ave.

Historic Miami Building Condos Sells for $23.5M

By Eleazar David Melendez |

A portolio of residential and commercial condos in Miami's Security Building is sold to an Aventura-based real estate investment trust.

1135 103rd St., Bay Harbor Islands

What's Next Now That County Commissioners Junk Historic Designation in Bay Harbor Islands?

By Eleazar David Melendez |

A developer triumphed in a long-running battle with preservationists after Miami-Dade County stripped a Bay Harbor Islands residential building of its historic designation.

Toymaker's Home With Rotating Room Sells for $38 Million

By Eleazar David Melendez |

A 9.4-acre estate on exclusive Jupiter Island sells for a record $38 million.

Homes Prices Climb Steadily as Miami, Tampa Surge

The Standard & Poor's/Case-Shiller 20-city home price index rose 4.9 percent in April from 12 months earlier, roughly the same annual pace as March.

Adam Mopsick

Construction From a General Contractor's Perspective

By Eleazar David Melendez |

Adam Mopsick, CEO of Miami-based general contractor Amicon Construction Management, speaks about the joys and challenges of being in a bountiful market.

The Zilbert Realty Store, at The Shops of Fifth and Alton

Why Luxury Beach Brokerage Gobbled by New York Company is a Good Sign

By Samantha Joseph |

Here's more proof New Yorkers are hot for Miami-area luxury real estate: A billion-dollar New York brokerage acquired Miami Beach-based Zilbert International Realty.

Developer Michael Simkins, Lion Associates, left, with his attorney Anthony L. Recio, with Weiss Serota Helfman Cole & Bierman PL, at City of Miami zoning board meeting about the 633-foot media tower that Simkins wants to build.

Miami Commission Rejects Giant LED Billboard Idea

By Eleazar David Melendez |

Miami city commissioners dealt what could be a crippling blow to plans for a 58-story LED billboard tower north of downtown.

Matthew Rieger, Esquire - President and CEO.Housing Trust Group

Long Quest for Affordable Homes in Miami's Overtown

By Eleazar David Melendez |

To break ground on its latest Miami affordable housing project, it took developer Housing Trust Group nearly a decade to navigate changing rules, an economic downturn and a credit crunch.

Whole Foods at 200 SE 2nd St.

Power Lunch: Crowds Flock to Whole Foods' Casual Alternative [SLIDESHOW]

By Julie Kay |

Whole Foods gives thousands of workers a quicker and more affordable alternative to pricey steakhouses and sit-down restaurants.

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

Condo Terminations: Breaking Up Gets Harder to Do

By Jeffrey Margolis |

A new state law prompted by the housing crash changes the rules for condominium terminations.

Lennar Corp., the second-largest U.S. homebuilder, jumped the most in nine months after reporting higher-than-expected earnings for its fiscal second quarter as the revived U.S. economy spurs new housing demand. (AP Photo/Damian Dovarganes)

Lennar Profit Beats Estimates as Jobs Gains Spark Buying

By John Gittelsohn |

Miami-based Lennar Corp. jumped the most in nine months after reporting higher-than-expected earnings for its fiscal second quarter.

Miami Airport Sheraton Sells for $42 Million

By Eleazar David Melendez |

The 405-room hotel sells for $104,000 per room, the latest in a string of hotel sales near Miami International Airport in the past two years.

Here Are Several Factors Why Home Sales Are Finally Surging

By Josh Boak and Alex Veiga |

Real estate has gotten hot again. Home sales are on pace for their best year since 2007.

US Group to Preserve Hemingway Items in Havana Home

By Michael Weissenstein |

A Boston-based foundation will ship nearly $900,000 in supplies to build a state-of-the-art facility to preserve Ernest Hemingway's books, letters and photos.

Jeff Greene vacant waterfront land in West Palm beach

Billionaire Greene Consolidates West Palm Beach Land

By Samantha Joseph |

Billionaire Jeff Greene now owns most of the vacant waterfront land in downtown West Palm Beach.

David Polinsky, managing partner, 250 Wynwood

Miami Neighborhood Transformation: Wynwood Goes From Industrial Chic to High-Rise Residential

By Eleazar David Melendez |

The Miami zoning board unanimously recommended significantly denser zoning in Wynwood's gentrifying industrial district.

David Cassidy

Judge Sets Auction for David Cassidy's House

By Samantha Joseph |

Former teen idol David Cassidy's waterfront mansion in Fort Lauderdale is set to hit the auction block Aug. 19, creating a great opportunity for a Patridge Family fan.

Chase Berger

Judge Sends Foreclosure Surplus to Third Party

By Samantha Joseph |

A third party who wasn't the owner of record won $26,000 in surplus funds from a foreclosure sale, even surprising attorney Chase Berger.

Bath Club Condo Miami Beach. 5959 Collins Avenue, Miami Beach 33140

At Your Service: Bath Club Condo Owners to Get More Than Developer Wanted to Give

By Eleazar David Melendez |

Residents of the swanky Residences at the Bath Club in Miami Beach should soon be able to enjoy poolside drink service under a state appeals court decision.

Amendment 1 Backers 'Exploring Every Option We Have'

By News Service of Florida |

Backers of a ballot initiative known as Amendment 1 contend lawmakers "ignored" the desires of voters by using a boost in environmental funding to cover the costs of daily state operations while setting aside too little for land buying.

Jennifer Lopez

'Another Day in Paradise' as Phil Collins Grabs J. Lo's Old Manse for $33 Million

By Samantha Joseph |

Singer Phil Collins pays big for 1.2-acre estate on Biscayne Bay in Miami Beach.

Tomas Regalado

Miami, Key Biscayne Officials Agree to Disagree on Virginia Key

By Eleazar David Melendez |

Elected leaders from the two cities accomplished little in a meeting Tuesday intended to hammer out their differences in development visions for Virginia Key.

Raoul Thomas, CEO of CGI Merchant Group

What's Driving CGI Merchant Group Investments in South Florida Real Estate?

By Eleazar David Melendez |

Raoul Thomas, CGI's founder and CEO, speaks about his firm's contrarian approach and conservative underpinnings.

Real Estate broker Edie Laquer

Miami Worldcenter, Edie Laquer Settle Investment Litigation

By Eleazar David Melendez |

Power broker Edie Laquer and the developer behind the Miami Worldcenter project have settled litigation over her claim to a stake in the sprawling project.

Former NFL Player's $8B Mortgage Lender Started With a Google Search

Casey Crawford went from playing on a team that won the Super Bowl to running a mortgage company that he expects to originate almost $8 billion in U.S. home loans this year.

Whitman Family Gallery, displayed at the HistoryMiami

HistoryMiami Looks at Real Estate Past of Whitman Family (Slideshow)

By Eleazar David Melendez |

The Whitman real estate family can brag about its South Florida work being featured at HistoryMiami.

Parcel B at 601 Biscayne Blvd.

Activists Dedicate Land to Late Miami Attorney Dan Paul

By Julie Kay |

Activist groups are naming a piece of prime waterfront land next to American Airlines Arena in honor of the late Miami attorney and environmentalist Dan Paul in an authorized dedication.

SLS Hotel at 1701 Collins Avenue

SLS South Beach Sells for $125 Million After Makeover

By Eleazar David Melendez |

One of the hippest hotels on Collins Avenue trades for nearly $893,000 per room.

$855,000 Awarded in Sunny Isles Beach Eminent Domain Case

By Celia Ampel |

A Miami-Dade jury awarded $855,000 to the owner of a property that was partially taken by the city for a bridge.

Foreclosure

Judge Rules No Limits to Attorneys' Foreclosure Depositions

By Samantha Joseph |

A foreclosure judge denies two attorneys' request to limit the scope of their depositions in an alleged witness-coaching scandal.

Jupiter Townhouse Complex Sells for $76 Million

By Eleazar David Melendez |

The 311-unit TGM Floresta Apartments was sold by a New York investor for $244,373 per unit to a Massachusetts-based real estate invetment trust.

District Judge Kenneth A. Marra

Miami Firm Ordered to Pay $2.3 Million in Mortgage Relief Scam

By Celia Ampel |

U.S. District Judge Kenneth Marra ordered Litvin, Torrens & Associates to pay the receiver for Prime Legal Plans LLC, which was shut down by the Federal Trade Commission in 2012.

Akerman's Prediction: Miami Hotels Will Stay Hot for Real Estate Investors

By Eleazar David Melendez |

An Akerman real estate report makes some impressive predictions about the attractiveness of Miami's hospitality industy in the short and long term.

Fontainebleau II condos

3 Fontainebleau Condo Units Selling in Bankruptcy Auction

By Samantha Joseph |

Three luxury condominiums at the Fontainebleau Miami Beach that are being auctioned were owned by Imperial Capital Bank, which filed for Chapter 11 bankruptcy.

House confiscated by the Castro regime that once belonged to the family of Attorney Jesus Suarez, with Genovese Joblove & Battista.

Back in Time: Attorneys Visit Their Families' Former Homes in Cuba Before Castro (Slideshow)

By Julie Kay |

For a handful of Cuban-American attorneys visiting Cuba with a Florida Bar delegation, the trip was a journey to their roots.

Foreclosure

Hearing Set on Bank's Foreclosure Confidentiality Request

By Samantha Joseph |

Mortgage lender Deutsche Bank wants to seal court filings in a foreclosure case after a defense attorney accused the mortgage servicer's attorney of coaching a witness with a detailed question-and-answer sequence.

LeBron James

LeBron is LeGone, and Soon, So Will His Miami Estate

By Eleazar David Melendez |

As he tries to lead his hometown Cleveland Cavaliers to an NBA championship, LeBron James agrees to sell his Coconut Grove estate.

Alex D. Zylberglait

The Art of Wooing: Commercial Broker Talks Foreign Buyers

By Eleazar David Melendez |

Alex Zylberglait of Marcus & Millichap said Latin Americans want to invest in Miami because of their familiarity with the city.

Brickell City Centre rendering

Miami's Luxury Condo Craze Burns Out on Strong Dollar

The sales office for condominiums at Miami's Brickell City Centre attracted more than 100 visitors daily last year, but now, the flow of people has trickled to about a quarter of what it once was.

Foreclosure Loser Moves to Disqualify Judge

By Samantha Joseph |

Defense attorneys want Miami-Dade Senior Circuit Judge Jon Gordon thrown off a foreclosure case after he questioned their client's testimony and threw out her defenses.

Notice to Property Owners: Trying to Bribe Miami Inspectors Will Land You in Jail

By Eleazar David Melendez |

A Miami building owner pleads guilty to a federal bribery charge after paying to get city inspectors to clear code violations.

Proponents of Buying Land Could Have Uphill Climb

By News Service of Florida |

Despite continued lobbying and statewide rallies, lawmakers with control over a water-and-land funding package don't appear to be open to pleas to increase spending on environmental lands.

Miami Worldcenter rendering

Developer Sues to Reverse Miami Worldcenter Vote

By Eleazar David Melendez |

Real estate millionaire Martin Marguiles is suing Miami over the way the city approved an $88 million tax rebate for the 10-block redevelopment project.

Wei Chen

Would-Be Fashion Mall Developer on China's Most Wanted List

By Samantha Joseph |

Wei Chen, would-be redeveloper of Plantation's Fashion Mall, is accused of stealing $120,000 from a state-owned Chinese brewery in 1999.

James L. Ferraro

Attorney Jim Ferraro Buys Fisher Island Penthouse

By Eleazar David Melendez |

Famed South Florida litigator Jim Ferraro is taking a 6,644-square-foot unit with a terrace almost as large in a building under construction on Fisher Island.

Thomas Ice

Firm Wants Thomas Ice Off Foreclosure Case After Daily Business Review Article

By Samantha Joseph |

Opposing counsel want foreclosure defense attorney Thomas Ice thrown off a case after he released a question-and-answer sheet prepared for records custodians testifying for lenders.

Palm Beach Outlets

Clarion Partners Pays $278 Million for Palm Beach Outlets

By Samantha Joseph |

The New York-based real estate investment firm pays $570 per square foot for the former Palm Beach Mall property.

The Phillips Point office complex in West Plam Beach

Choice West Palm Office Property Sells for $246 Million

By Samantha Joseph |

Phillips Point, an exclusive West Palm Beach office complex, traded for $245.5 million in one of the biggest South Florida real estate deals this year.

The Kennedy compound in W. Palm beach

President John F. Kennedy's Compound in Palm Beach Sells for $31M

By Samantha Joseph |

President John F. Kennedy's Winter White House in Palm Beach was purchased by a powerful New York real estate family.

More Older Americans Are Being Buried by Housing Debt

Al and Saundra Karp have found an unconventional way to raise money and help save their Miami-area home from foreclosure: They're lining up gigs for their family jazz band.

Third District Court of Appeal

3rd DCA Sends Dispute Between Real Estate Giants Back to New York

By Eleazar David Melendez |

Following a brief detour through the Florida courts system, a dispute between two giants of South Florida real estate over an affordable housing project in New York City appears headed back north for abritration.

Foreclosure Defenses Dismissed After Homeowner Lies in Court

By Samantha Joseph |

Miami-Dade Judge Jon Gordon seemed to lose his patience after a witness appeared to commit perjury during a foreclosure hearing.

Bay Area Broker Becomes Billionaire on Sub-$10M Listings

Marcus & Millichap Inc.'s website has more than 2,800 commercial properties for sale. The most expensive is a hotel on the New Jersey side of the Lincoln Tunnel for $50 million. The cheapest: a Memphis apartment building listed at $55,000.

Miami Worldcenter rendering

Labor Activists Take Aim at Worldcenter Developers

By Eleazar David Melendez |

A coalition of labor activists is looking to put a hurdle in front of the Miami Worldcenter developers, demanding a more generous package of wage and job guarantees to the poor of Miami.

3rd DCA Panel Tosses Lawsuit Against SkyRise Project

By Samantha Joseph |

A Miami paralegal had no legal standing to block the proposed 1,000-foot SkyRise project, the Third District Court of Appeal found.

Is Rent Out of Reach? Study Shows How 11 US Cities Fare

Renters are on the rise in America's biggest cities, but many tenants are scrambling to keep up with growing rent bills and shrinking vacancies, according to a recent study.

Michael Jackson's Neverland Ranch on the Market for $100 Million

Neverland Ranch, the former home of the late pop star Michael Jackson, is up for sale with an asking price of $100 million, according to a person with knowledge of the offering.

Coya Restaurant located at 999 Brickell Ave.

Power Lunch: Coya's Members' Room New Lunch Spot for Elite Crowd

By Eleazar David Melendez |

The members' room at Coya, a new spot for Brickell power lunchers, offers Peruvian fusion fare in an ambience sure to dazzle.

Monty's at 2550 S. Bayshore Dr.

Coconut Grove's Landmark Monty's Gets New Owner in Complex Deal (Slideshow)

By Eleazar David Melendez |

The marina and retail complex that contains Monty's Raw Bar was attractive because it was within walking distance of a growing Coconut Grove neighborhood.

Sunset falls over the Florida Supreme Court building

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

By Samantha Joseph |

Bad news for cash-strapped condo associations: The Florida Supreme Court upholds an opinion that bars community association managers from performing 20 tasks deemed to be the "unlicensed practice of law."

Amendment 1 Supporters Plan Rallies for Land Buying

By News Service of Florida |

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.

Delayed Land Sales Cost Title Insurer $4.5M Verdict

By Celia Ampel |

A West Palm Beach jury delivered a verdict against First American Title Insurance Co. for a policy breach that delayed progress on the development of a resort in the Bahamas.

Fewer Homes for Sale Makes US Housing Recovery Painstaking

A limited number of homes for sale and higher selling prices are making for one painstaking U.S. housing recovery.

Sunrise's Metropica Attracts iPic Movie Theater

By Samantha Joseph |

The billion-dollar community planned near Sawgrass Mills will include a luxury iPic movie theater with cocktails, in-seat service and a menu by celebrity chefs.

Rendering of the proposed hotel at the Miami Beach Convention Center

And The Companies Miami Beach Picked for Convention Center Makeover Are...

By Eleazar David Melendez |

Miami Beach picks a company to manage the half-billion dollar overhaul of its convention center and preliminarily awards the right to build an 800-room hotel next door to another firm.

Boca Investor Buys Six Fairfield Inns

By John Jordan, GlobeSt.com |

Boca Raton-based Waramaug LS Hotels picked up the New England portfolio and plans extensive renovations.

Real Estate broker Edie Laquer

Was Edie Laquer's Hurricane Wilma Insurance Claim Timely Three Years Later?

By Eleazar David Melendez |

The Third District Court of Appeal rules a jury should decide whether Edie Laquer's insurance claim was "timely" when it was filed more than three years after Hurricane Wilma.

Developer Sees LED Billboard Tower as Tech Industry Catalyst

By Eleazar David Melendez |

Developer Michael Simkins sat down with the Daily Business Review to discuss his proposed Miami Innovation District with a landmark 633-foot-tall LED billboard tower.

Ndamukong Suh

New Dolphins Suh Lists Michigan Home for $3.45 Million

Ex-Detroit Lions defensive linesman Ndamukong Suh has put his home in suburban Birmingham, Michigan, up for sale for $3.45 million.

Thomas Ice

Thomas Ice: Ocwen Lawyer Spoon-Fed Questions and Answers to Robo-Witnesses

By Samantha Joseph |

Does a letter inadvertently disclosed during discovery show a mortgage servicer's attorney improperly coached witnesses in foreclosure cases?

TGM Vintage at Abacoa

Jupiter Apartments Sell for $210,256 Per Unit

By Samantha Joseph |

TGM Vintage at Abacoa, a 390-apartment complex with two swimming pools, was acquired for $82 million.

Miami Worldcenter rendering

City Staff Approves Miami Worldcenter Plan (Slideshow)

By Eleazar David Melendez |

The latest version calls for 1.82 million square feet of residential space, 1.09 million square feet of commercial space and nearly 4,000 parking spaces.

Judge Allows Suit Against Skyrise Project to Continue (Slideshow)

By Eleazar David Melendez |

A Miami-Dade Circuit judge ruled Raquel Regalado and Norman Braman have standing to sue Miami-Dade County and the city of Miami over a $9 million subsidy being given to the Skyrise project.

The 20,862-square-foot estate, located at 1 Casuarina Concourse in Coral Gables

Coral Gables Mansion With 'Combination of Everything' Can be Yours for $67M (Slideshow)

By Samantha Joseph |

Potamkin Automotive co-chairman Alan Potamkin is asking $67 million for his Coral Gables mansion.

Key Biscayne Not Backing Off Fight Against Marine Stadium Plans

By Eleazar David Melendez |

Redevelopment plans for the former Miami Marine Stadium are criticized by Key Biscayne officials who fear they don't have enough of a say in a process that will snarl traffic flow to the village.

Cranes sprouting the skyline of Brickell as new condo construction rises

Warning: Florida Energy Codes About to Get Tougher

By Jennifer LeClaire, GlobeSt.com |

Energy performance consultant Al LaPera explains commercial developers need to focus on changing Florida energy codes.

Fernando de la Hoz, winner, Corporate International. Karen Katri and Mariana Seixas. Mark Bagnall, finalist, International Finance. All with White & Case.

After Hours: Top Dealmakers 2015

The Daily Business Review hosted its ninth annual Top Dealmakers event at the J.W. Marriott Brickell in Miami.

David Rosinsky and Mitch Chusid

$3.35M Construction Defect Award for Pompano Condo

By Samantha Joseph |

The Sonata Beach Club condo association lands the verdict against Claridge Homes and BJ&K Condo Construction Inc.

Ritz-Carlton Fort Lauderdale Beach

Ritz-Carlton Fort Lauderdale Condo Sale Sets A Sales Record (Slideshow)

By Samantha Joseph |

A Ritz-Carlton Fort Lauderdale Beach condo breaks the record for per-square-foot price in the county at $1,556.

How David Boies Became the Best Friend and Worst Enemy of Big Business

For three decades—at least since a June 1986 New York Times Sunday Magazine cover story anointed him "The Wall Street Lawyer Everyone Wants"—Boies has reigned as the country's premier litigator.

Bath Club Condo Miami Beach. 5959 Collins Avenue, Miami Beach 33140

Jury Awards Broker $423,000 for Lost Commissions on Peebles' Bath Club Sales

By Julie Kay |

Miami-Dade jurors have slapped prominent developer Don Peebles with a finding of fraudulent misrepresentation and awarded broker Dora Puig $423,000 for lost sales commissions.

800 Brickell

This Brickell Building Just Sold for $112 Million

By Samantha Joseph |

A Deutsche Bank subsidiary spends $533 per square foot for the 800 Brickell Ave. office building.

Reese Stigliano

Good Thing D.R. Horton Held Off on $38M Land Deal in 2005

By Samantha Joseph |

Score one for powerhouse homebuilder D.R. Horton, which held off on a $38 million land deal in 2005. The Texas developer ended up buying much of the property for $5.9 million.

Having Bought Realtor.com, Rupert Murdoch Going After Zillow.com

News Corp.'s Rupert Murdoch said Zillow's Zestimate is inaccurate, with his CFO adding, "We're the real deal in real estate in real time."

So Long to Yet Another Mobile Home Park, Sheridan Station Coming In

By Samantha Joseph |

So long, trailer park. Hello, luxury apartments. Developers start construction on Class A apartments on the site of the former Okomo Mobile Park in Hollywood.

Interior at  MADE, a co-working space at 8325 Northeast Second Ave., Miami

Groovy! South Florida Communal Office Space Attracting Techies (Slideshow)

By Eleazar David Melendez |

The new wave of Miami-area shared office space operators create value for their clients by providing connections in their networks and valuable services to their tenant communities.

2722 NW 2 Ave. in Wynwood

Wynwood V. Design District: Different Strategies for Thor

By Samantha Joseph |

It looks like New York's Thor Equities LLC won't be bringing bulldozers into Miami's Wynwood neighborhood, where it has acquired whole blocks the past two years.

Flippers, Wall St. Back Together; What Could Possibly Go Wrong?

Real estate buyers seeking money to renovate and flip U.S. houses are getting help from some of the world's biggest investment firms.

Reasons Why Homebuyers Will Be Facing a Tough Spring

Eager to buy your first home this spring? Already own, but want to trade up? Be warned: there'll be plenty of competition.

Top Dealmakers of the Year 2015

The Daily Business Review recognizes the people who made the biggest and most complex deals of 2014.

Fabio F. Faerman

Restaurants: The Latest Real Estate Hit in Miami's Brickell Area

By Eleazar David Melendez |

International restaurant owners are pushing a new wave of "destination" openings in Miami's Brickell district, turning the area into a culinary hot spot.

Andrew Moss

Ouch! Mortgage Fraud Costs Convicted Banker $38 Million

By Julie Kay |

Attorney Andrew Moss (pictured) said the size of the judgment should be a message to banks to be vigilant against mortgage fraud.

Slideshow: Centro Miami Close to Topping Off

The 36 floor Downtown Miami condo is near topping off and reports say it is 90 percent sold out, despite not having any on-site parking.

Miami Parking Authority CEO Arthur Noriega

New Projects Put More Pressure on Parking Authority

By Eleazar David Melendez |

As the building boom in Miami moves forward, Miami Parking Authority CEO Arthur Noriega increasingly finds himself called to partner with developers. Noriega talks about his agency's projects and mission.

Miami's Cocowalk Retail Center Sells for $87.5 Million

By Eleazar David Melendez |

The sale price is almost the same as the last time around at the height of the real estate boom nine years ago.

Causeway leading to Grove Isle

Grove Isle Dispute Lingers, But Residents at Least Get a Victory With One Issue

By Samantha Joseph |

Condo residents in Miami's Grove Isle neighborhood get back the use of their club while a developer pursues plans to add more units.

Fortress Revs Mortgage Machine as Its Buyout Funds Stall

Wes Edens, a co-owner of the Milwaukee Bucks, has shot his share of air balls at his private-equity firm Fortress Investment Group. With mortgage assets, Edens has found his mark.

More Americans Spend Half Their Pay on Housing, Utilities

The surging cost of rental housing has squeezed a rising proportion of U.S. families since the Great Recession struck in 2007.

$100M for a Home? Luxury Buyers Reach a New Threshold

The poshest of luxury homes are acquiring the cachet of a masterwork by Picasso or Matisse.

Chris Mobley

Chris Mobley Leaving as ALM Regional Group Publisher

By Review staff |

New leadership announced for the Daily Business Review and other regional properties.