Real Estate News

Brickell City Centre under construction

New South Florida Construction Droops

By Carla Vianna |

The value of South Florida construction starts plunged in April compared with the month before and the same period last year.

Hoteliers Call for Airbnb Regulation

By Carla Vianna |

Nearly two-thirds of the revenue generated via Airbnb in Miami comes from hosts listing multiple units at once.

Fort Lauderdale Real Estate Perks Up

By Samantha Joseph |

Moves by institutional investors into multifamily and other commercial ventures in Broward County illustrate the attraction.

Miami Backs $115M Subsidy Plan for Hotel, Expo Center

By Carla Vianna |

MDM Development Group's hotel and expo center project secures a $115 million subsidy commitment from Miami officials.

The Miami Tower, 100 SE 2nd St, is a 47-story, landmark office skyscraper in Miami, Florida, United States. It is located in central Downtown. It is currently the 8th tallest building in Miami and Florida. On April 18, 2012, the AIA's Florida Chapter placed it on its list of Florida Architecture: 100 Years. 100 Places as the Bank of America Tower.

Miami Tower Sells in Deal Worth $220 Million

By Carla Vianna |

Giant Japanese conglomerate Sumitomo Corp. purchased the Miami Tower in an agreement that will most likely lead to the sale of the iconic downtown property.

Broker Represents Buyer on $105M Aventura Office Purchase, Financing

By Samantha Joseph |

Robert Dockerty of Dockerty Romer represents the buyer on the purchase while raising $50 million in financing.

U.S. Federal Building and Courthouse, 299 East Broward Boulevard, Fort Lauderdale.

GSA Has No Good Place for New Fort Lauderdale Courthouse

By Samantha Joseph |

The Fort Lauderdale federal courthouse needs plenty of repairs, but there's no space for a new one in downtown Fort Lauderdale, according to a new government report.

Walter M. “Marty” Cummins Jr., president of Florida EB-5 Investments; Reid Thomas, executive vice president of California-based NES Financial; and H. Ronald Klasko of Klasko Immigration Law Partners in Philadelphia.

Bill Would Tighten EB-5 Visa Controls, Could Add to Backlog

By Carla Vianna |

A panel of EB-5 experts discusses the legislative hurdles faced by the cash-for-visa program amid heightened federal scrutiny.

 Gray Robinson shareholder Stephen Tilbrook.

Lauderdale Floods Changing Seawall Height Regulations

By Samantha Joseph |

City officials are considering new rules for waterfront development following repeated tide-driven flooding.

Top Parking? Look No Farther Than Miami

By Samantha Joseph |

A Miami garage wins a top prize in an international architectural contest. Check out the City View Garage.

10/15-   7950 NE Bayshore Court, Miami, Fl..

South Florida Apartment Rentals Built for Luxury

By Carla Vianna |

Fancy rentals dominate the nation's — and South Florida's — new multifamily arena.

4/15- Barcelona Jupiter Aparments, 111 Sierra Drive, Jupiter, Fl.

Jupiter Apartments Sell for $88 Million

By Samantha Joseph |

Fort Lauderdale lawyers guide the purchase of the 352-unit Barcelona Jupiter luxury complex.

Miami's Blue Lagoon Office Complex Sells for $68M

By Samantha Joseph |

A Connecticut investor buys the five-building Waterford at Blue Lagoon Business Park for $191 per square foot and gets $50 million in financing.

10/5/16-   Completed building at 3625 Northeast Second Ave. in Miami’s Design District, which will house the brand new Brown Jordan furniture store. Lyle Chariff and his team purchased the vacant lot for $275,000 in 2013. After solving innumerable issues that deemed the land “unbuildable,” the property is

'Unbuildable' Lot Gets Makeover, Sells for $13 Million

By Carla Vianna |

Lyle Chariff reinvents an "unbuildable" lot in Miami's Design District for $13 million after crossing a number of redevlopment hurdles in three years.

Top Brokers Collect $850,000 in Commissions in Five Weeks

By Samantha Joseph |

Not a bad binge. "The Jills" make about $850,500 in commissions on four Fisher Island real estate deals.

Tablet with chart displayed

Florida's Industrial Real Estate Near Pre-recession Levels

By Carla Vianna |

Statewide industrial vacancies dropped below 6 percent in the first quarter for the first time since 2006.

Pace of Luxury Miami Home Sales Slows Down

By Carla Vianna |

Amid a luxury housing market slowdown, Miami real estate professionals say economic factors have more effect than new federal scrutiny.

Aerial view of downtown Miami

Quality-of-Life Investments Yield Economic Development Gains

By Commentary by Mitchell Bierman |

Miami needs to tax itself to improve transit and become a more attactive city for business and job seekers, writes attorney Mitchell Bierman.

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

UK Real Estate Shoppers Focus on South Florida

By Carla Vianna |

Colombia leads all foreign nations in searching for Miami real estate online, interest from the U.K. strengthens to a record high, and Brazil drops to No. 5.

Loan, Land Deals Close for West Palm Apartments

By Samantha Joseph |

An Arizona developer secures $50 million construction loan and closes on a $10 million land purchase for a West Palm Beach project.

Aventura Office Park Sells for $105 Million

By Carla Vianna |

New York investors buy the three-building Aventura Corporate Center for $417 per square foot.

Lawyer Spots Condo Trend, Leaves Firm to Start Financing Platform, Talks Changes in Market

By Carla Vianna |

Miami lawyer Andrew Stearns starts an investment platform and finds some odd developments in Miami condo resales.

HFF Arranges $41M Construction Loan for Davie Apartments

By Samantha Joseph |

A partnership of developers secures $41 million in financing for the 259-unit Parc3400 east of the town's college campuses.

Miami River Commission Backs Condo-Hotel Plan

By Carla Vianna |

A Brazilian developer has revived an ambitious plan for a narrow lot on the south side of the Miami River.

Gov. Rick Scott

Federal Government Pulls Out, Florida Left Paying for Ranch Deal

By Jim Turner, News Service of Florida |

The state is picking up $1.5 million that the federal government had been expected to contribute to a deal to conserve 1,617 acres of ranch land and panther habitat in eastern Collier County.

Protesters at Kolter’s new Alton community in Jupiter.

Developer Sues Developer Over Fort Lauderdale Deal

By Samantha Joseph |

A prominent developer claims the Kolter Group LLC squeezed him out of a lucrative deal for a parcel on Las Olas Boulevard near downtown Fort Lauderdale.

Deerfield Mall, 3668 W Hillsboro Blvd, a 394,248-square-foot, Publix-anchored, community shopping center located in the South Florida community of Deerfield Beach.

Publix-Anchored Deerfield Mall Sells for $93 Million

By Samantha Joseph |

A Houston investor pays $253 per square foot for the community shopping center.

Survey: Millennials Grossly Underestimate Cost for New Homes

By Carla Vianna |

A recent study shows millennial renters grossly underestimate how much a down payment on a starter home really costs.

Liquid Ambition: Miami Board Backs Liquid Lofts Downtown Apartment Tower

By Carla Vianna |

The city's Urban Development Review Board supports waivers for an 866-foot tower near the Dade County Courthouse.

Horse Farm Purchased for $17.45 Million

By Carla Vianna |

A nearly 7-acre Wellington horse farm owned by the founders of financial management firm Artisan Partners L.P. sold for $17.45 million.

Distributor Signs Five-Year Lease in Pembroke Park

By Samantha Joseph |

RTA Products is leasing 93,700 square feet after moving from Miramar.

Matthew Whitman Lazenby, president and CEO of Whitman Family Development.

Cellphone Search Punctuates Bal Harbour Shops Expansion

By Carla Vianna |

A legal battle has been brewing between the founders of Bal Harbour Shops and Village Vice Mayor Patricia Cohen.

Tri-Rail train at Delray Beach Station, Delray Beach, Fl.

Tri-Rail to Borrow $20 Million for Downtown Miami Link

By Carla Vianna |

Despite legislative obstacles, Tri-Rail operators have revived a plan to connect West Palm Beach commuters to downtown Miami.

Bruce Rogow

Court Reverses on Attorney Fees in Trump Hotel Flop

By Samantha Joseph |

The Fourth DCA largely ruled against investors who claimed they were duped by misleading marketing for the failed Trump International Hotel & Tower in Fort Lauderdale but reversed on attorney fees.

Hyatt Gains Miami Beach Presence for $229 Million

By Carla Vianna |

The Thompson Miami Beach sells for $603,000 per room to the Hyatt Hotels Corp.

Looking up at Auberge from Biscayne Blvd.

Why Jorge Perez's Eldest has Big Shoes to Fill and it's not Just the Family Business

By Carla Vianna |

Reporter Carla Vianna interviewed Jon Paul Perez, the eldest son of developer Jorge Perez, about his first condo project in Miami. Auberge Residences & Spa will be in Miami’s Arts and Entertainment District on Biscayne Boulevard.

CoStar Flies High for Quick Commercial Real Estate Updates

By Samantha Joseph |

A CoStar Group research plane mapping new construction in South Florida documents 40 projects near Fort Lauderdale as part of a national research project.

Stonegate Bank Buying Regent Bank for $40 Million

By Carla Vianna |

Pompano Beach-based Stonegate Bank will acquire the holding company for the five-branch Regent Bank to create a community bank with $2.7 billion in assets.

Tony Cho, president and founder of Metro 1

Retail and Industrial Guide 2016: Retail Resurgence and Industrial Reshaping

By Review staff |

As South Florida's retail sector experiences a resurgence, new warehouse design is reshaping demand for industrial space in Miami-Dade County.

Anthony Graziano, co-creator of TRENDS Real Estate Report and senior managing director of Integra Realty Resources

'Not a Bust,' But Miami Luxury Housing Is in Decline

By Carla Vianna |

South Florida's luxury market suffered several hits, but experts don't foresee a bust.

Miami- Bruce Jacobs, with Jacobs Keeley, PLLC

Home Foreclosure Fails on Ocwen Servicing Records

By Samantha Joseph |

Miami-Dade Circuit Judge Beatrice Butchko threw out loan servicer Ocwen Financial's records after describing the loan servicing transfer process as a "legal fiction."

Trump Towers I, II and III in Sunny Isles Beach. Trump Tower I is located at 16001 Collins Ave.

Condo Owners Claim Bad Construction at Trump Towers

By Carla Vianna |

Unit owners are suing the developers of the Trump Towers in Sunny Isles Beach, claiming several hundred alleged construction defects.

RealtyTrac Sees Big Profit in US Home Sales

By Carla Vianna |

South Florida home sellers came away with average gains of $50,000 on their purchase prices.

The Edge at Flagler Village Apartments, 495-7 N. Federal Highway, Fort Lauderdale

Lauderdale Apartment Developer Cashes Out for $114 Million

By Carla Vianna |

The 331-unit Edge apartment complex in Fort Lauderdale's Flagler Village points to an emerging neighborhood rife with redevelopment opportunities.

340 S. Federal Highway, Deerfield Beach

Deerfield Beach Retail Bagged for $5.2 Million

By Samantha Joseph |

Secret to Success: Developer Scouts for Tear-Downs to Build Upscale Homes

By Samantha Joseph |

Todd Michael Glaser is on the prowl for 50 teardowns off the water in Miami Beach.

Buildings with the address of 2021-2039 NW First Place, Miami, in the Wynnwood district.

Sellers Taking Advantage of Appreciation in Miami's Wynwood Neighborhood

By Samantha Joseph |

After rejecting an $8 million offer, the owners of the Two Aces property are betting they'll get even more for warehouses purchased for $240,000 in 2002.

Panel discussion at real estate event sponsored by The Real Deal. From left, Peter Zalewski, founder of Cranespotters.com, Harvey Hernandez, president and CEO of Newgard Development Group, Jean Francois Roy is the founder and president of Ocean Land Investments, Inc.,  Patrick Campbell, vice president at the Related Group, and Jaime Sturgis, a sales director with Metro 1.

Brokers Say 'Swarms' Coming for Broward Real Estate

By Carla Vianna |

Experts say a locally focused market and investors priced out of Miami are fueling Broward County's residential real estate industry.

13th Floor Investments, in partnership with Key International, has officially closed on a $95 million construction loan for the Harbour, a twin-tower, 425-unit luxury waterfront condominium located in North Miami Beach, Florida.  The developers broke ground on the project in February of this year and expect completion by summer 2018.

$95M Construction Loan Issued for North Miami Beach Towers

By Carla Vianna |

North Miami Beach's latest kuxury condominium project — The Harbour — secures the loan from the Bank of the Ozarks.

Sagamore Hotel, Miami Beach

Miami Beach's Sagamore Hotel Sells for $63 Million

By Carla Vianna |

A joint venture purchases the iconic Sagamore Hotel for $677,000 per room after its former owner died.

La Gorce Home Sells for $45 Million

By Carla Vianna |

English retail and soccer billionaire Mike Ashley sells his eight-bedroom mansion on Miami Beach's La Gorce Island.

Foreclosure

Foreclosure Filings Dip to 2006 Levels

By Carla Vianna |

RealtyTrac reports the slowest rate of foreclosure filings since the housing bubble burst.

Miami Moves Up in National Apartment Rent Rankings

By Carla Vianna |

South Florida's rental market is creeping up into the nation's most expensive communities, but year-over-year jumps are expected to slow this year.

Insurance Exec Buys Palm Beach Mansion for $39M

By Carla Vianna |

Insurance tycoon Peter Wood purchases the former home of media mogul Jonh Kluge, once the richest man in the United States.

Lou Mrachek and Greg Weiss with Mrachek Fitzgerald Rose Konopka Thomas Weiss in West Palm Beach

Luxury House Sale Defamation Suit Defeated

By Celia Ampel |

A real estate brokerage and attorney-homeowner defeat a $7 million defamation lawsuit over a newsletter testimonial.

US, Goldman Sachs Reach $5B Settlement Over Risky Mortgages

By Eric Tucker, Associated Press |

Goldman Sachs agrees to pay $2.4 billion in civil penalties plus $1.8 billion to distressed borrowers in the sale of shoddy mortgages before the housing bubble burst.

Cushman & Wakefield Office Brokers Peel Off

By Samantha Joseph |

A team generating $230 million in leasing transactions last year left Cushman & Wakefield to start its own brokerage.

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

Miami, Palm Beach Lead US Market for Office Rental Growth

By Carla Vianna |

Miami and Palm Beach are among the top 10 office markets nationwide in terms of absorption and rental growth.

Corporate Counsel: Real Estate

Corporate Counsel wanted to find out what happened to the billions of dollars in mortgage relief promised to consumers in settlements between the government and misbehaving banks. Today is the first of four installments about our search and what we found. The full story will appear in the May issue of Corporate Counsel magazine.

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

HSBC Moving Latin American Operation to Miami

By Samantha Joseph |

HSBC bank is leaving Coral Gables for Brickell suites in Miami's Four Seasons Tower.

SkyRise Drops Public Subsidy Request for Tourist Attraction

By Carla Vianna |

SkyRise Miami has dropped its pursuit of a $9 million Miami-Dade County subsidy to fund the proposed 1,000-foot entertainment tower.

JLL's Alan Kleber on South Florida's Long-Term Potential

By Jennifer LeClaire |

Alan Kleber, executive managing director of JLL South Florida, discusses the impact of its acquisition of Cresa South Florida and what's ahead for South Florida real estate.

Rendering of Auberge Beach Residences and Spa

Broward County Record Set With Auberge Penthouse

By Carla Vianna |

The $8.9 million sale at Fort Lauderdale's Auberge Beach Residences & Spa broke county records.

Architect Zaha Hadid Dies in Miami at 65 With New Project Rising

By Carla Vianna |

World-renowned architect Zaha Hadid died in Miami, leaving behind plans for a 62-story skyscraper on Biscayne Boulevard.

Flores Wants Senate Review of Biscayne Bay Contamination

By Jim Turner, News Service of Florida |

Sen. Anitere Flores, R-Miami, wants Senate leaders to establish a select committee to review the recent discovery of a radioactive isotope in Biscayne Bay linked to a nuclear power plant in southeast Miami-Dade County.

Rendering of the Marriott Marquis Miami Worldcenter Hotel

Miami Delays Action on $115M Subsidy Package for Convention Hotel Project

By Carla Vianna |

Miami City Commissioners deferred a vote on a subsidy package for the $750 million Marriott Marquis Miami Worldcenter Hotel & Expo at the old Miami Arena site.

Foreclosure Sale Should Not Have Happened, 4th DCA Tells Homeowner's Association

By Samantha Joseph |

An appeals court says a Wellington homeowner association wrongly barreled through a foreclosure sale after the owner filed for bankruptcy protection.

No Heist, but Lufthansa Leases Industrial Space in Dania Beach Near Airport

By Samantha Joseph |

Following the $27 million sale of a Dania Beach distribution center, Cushman & Wakefield brokers a long-term lease with one of Europe's largest airlines.

Miami- UM School of Architecture, at 48 E. Flagler St., Downtown Miami

UM, Developer Foster Micro-Unit Designs

By Carla Vianna |

Developer Moishe Mana teams up with the University of Miami School of Architecture to design micro-living projects in Miami's urban core.

Eccentric developer Frank McKinney, has been building luxury oceanfront homes since 1992, creating 41 estates on speculation.

Spec Builder Downsizes Ultra-Luxury Projects to a Mere 4,000 Square Feet

By Samantha Joseph |

Delray Beach developer Frank McKinney, once a builder of mega-mansions, is thinking small and rolling out micro versions for the ultra-rich.

Hungry for US Assets, China's Anbang Bids $15B for Starwood

By Associated Press |

The Anbang insurance company ups its bid for Starwood Hotels in a bidding war with Marriott International.

MLS Commissioner Don Garber, David Beckham and Carlos Gimenez

Beckham Group Nabs Overtown Site for Soccer Stadium

By Carla Vianna |

Former professional soccer player David Beckham and his investment group closed on six acres of land in Miami's Overtown neighborhood for his long-proposed soccer stadium.

From left: Dorothy Eisenberg, Steve Klein, Gary Gerson, Cliff Gelber, Alan Lips and Richard Preston, of Gerson Preston Robinson & Co

Miami Through the Eyes of Veteran Accountant

By Carla Vianna |

Gary Gerson and Alan Lips speak with the Daily Business Review about the growth of their firm, Gerson Preston Robinson & Co., one of South Florida's oldest homegrown accounting firms.

Steelers Receiver Buys $6.6M Estate in Hollywood

By Samantha Joseph |

A company tied to Antonio Brown pays $6.6 million for a 12-bedroom Hollywood mansion.

MLS Commissioner Don Garber, David Beckham and Carlos Gimenez

Block Near Beckham's Miami Stadium Site Sells for $6.7M

By Carla Vianna |

A developer scoops up an acre near David Beckham's proposed Major League Soccer stadium in Miami's Overtown neighborhood.

4400 Northcorp Parkway in Palm Beach Gardens

New York Investor Buys Palm Beach Gardens Offices for $30 Million

By Samantha Joseph |

A new-to-market New York investor paid $30.05 million for Palm Beach Gardens' Corporate Center at the Gardens, comprised of two Class A buildings with 115,000 square feet.

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

City Administrative Center Offered for Sale by Miami

By Carla Vianna |

The city's 3-acre administrative headquarters on the Miami River is up for sale.

Investcorp Acquires Student Housing in Boca Raton

By Paul Bubny |

Investcorp closed on about $220 million worth of acquisitions, including three student housing properties in Boca Raton.

Valerie Tatum, senior research analyst, Cushman Wakefield

New Office Construction Lags With Developers Focused Elsewhere

By Samantha Joseph |

For South Florida tenants on the hunt for new office space, don't expect developers to deliver new space.

Housing in Havana, Cuba

Airbnb Opens Cuba Listings to World

By Michael Weissenstein |

Online lodging service Airbnb is allowing travelers from around the world to book stays in private homes in Cuba after the San Francisco-based company received a special authorization from the Obama administration.

Starwood to Run 3 Cuban Hotels

By Michael Wessenstein |

Starwood signed a deal to renovate and run three Cuban hotels, returning U.S. chains to the island more than 50 years after American hotels were taken over.

Farid Moussallem, director of international sales for Compass Miami.

Pace of Cash Luxury Sales Suffers Little After Feds Take Look

By Carla Vianna |

The beginning of the federal geographic targeting order coincides with a slowdown in luxury home deals, but industry experts don't see a cause-and-effect relationship.