Real Estate News

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.

Legal Challenges Only Certainty for 58-Story Billboard Plans

By Eleazar David Melendez |

A government meeting called to approve a 633-foot-tall LED billboard tower left it unclear if the project can move forward, but it's likely to face legal challenges.

Coconut Creek Apartments Go for Nearly $90 Million

By Eleazar David Melendez |

Teachers Insurance and Annuity Association of America, better known as TIAA-CREF, spent $89.88 million to acquire Casa Palma.

Survey Finds Home Prices in 20 US Cities Increase at Faster Pace

Home prices in 20 U.S. cities climbed at a faster pace than forecast in the year ended February, a sign the housing industry may be gaining momentum amid low borrowing costs and continued job growth.

Yuca restaurant at 501 Lincoln Rd.

Lincoln Road Food Fight: Yuca v. Its Landlord

By Mary Hladky |

The owner of the trendy Miami Beach restaurant claims its landlord is trying to push it out and make big bucks by selling the building at 501 Lincoln Road.

South Florida Industrial and Retail Guide 2015

Infrastructure questions regarding proposed largest mall in the nation, retail market rides residential wave, low vacancy rates trigger creative deals.

Brickell City Centre rendering

Simon Added as Brickell City Centre Developer

By Samantha Joseph |

Swire adds another power player to its $1 billion Brickell City Centre project: Simon Property Group, the company behind Simon Malls.

Charred backhoe sits on lot with apartment building being demolished

High-Tech Overtown Center Takes Place of Previous Housing Plans

By Eleazar David Melendez |

A giant LED billboard tower in Miami's Overtown neighborhood is part of a 10-acre commercial redevelopment plan by developer Michael Simkins, who is ejecting housing plans.

Doral Apartment Complex Acquired for $103.5 Million

By Samantha Joseph |

A Chicago buyer paid $103.5 million for Signature at Doral, a sprawling community along Lakeside Drive and Northwest 41st Street.

Airport West Industrial Building Acquired

By Samantha Joseph |

Key Biscayne attorney Lisette Pie Salazar just scooped up an $8 million piece of real estate.

Real Estate broker Edie Laquer

Edie Laquer Wins Appeal in Beef With Miami Worldcenter Developer

By Eleazar David Melendez |

Miami power real estate broker Edie Laquer wins an appeal in a fight with Miami Worldcenter developer Art Falcone over her claim to a share of the transformative project.

Rendering of the proposed American Dream Miami mega mall

The Reason Miami-Dade is One Step Closer to Having America's Largest Mall

By Samantha Joseph |

Developer Triple Five Worldwide Group of Cos. is now one step closer to building the country's largest mall in Miami-Dade County.

Interior of Atrio Restaurant in the Conrad Miami

Power Lunch: Atrio's Great Service Comes With View of Brickell (Slideshow)

By Eleazar David Melendez |

Atrio Restaurant and Wine Room caters itself to the pinstripe-suit standards of the business travelers staying at the Conrad Hotel.

In this area, developers want to build a 633-foot-tall video billboard

When Stuck in Miami Traffic, Developers Want You to Check Out 58-Story Billboard

By Eleazar David Melendez |

A massive LED billboard, the second-largest in the U.S., could soon greet commuters southwest of I-95 and I-395.

Trump Hollywood, 2711 S. Ocean Drive, Hollywood

Wasn't Me! Trump Hollywood Subcontractors Blame Each Other After Lawsuit

By Samantha Joseph |

The condo association's lawsuit claims the Trump Hollywood has incompatible steel and plastic PVC pipes in the fire sprinkler system.

Piling drilling at One Thousand Museum construction site

Condo Tower Sets Record for Deepest Foundation Piles in Miami-Dade

By Eleazar David Melendez |

One Thousand Museum has the deepest foundation piles in the history of Miami-Dade county at 177 feet.

Blackstone, Brookfield Said to Bid for Investa Portfolio

Blackstone Group LP and Brookfield Asset Management Inc. are among bidders for $7 billion of Australian real estate being sold by Morgan Stanley's Investa Property Group.

Daniella Levine-Cava

Rule Considering How CRAs Can Spend? Miami-Dade Considering It

By Eleazar David Melendez |

Miami-Dade County Commissioner Daniella Levine Cava is offering new rules to limit spending by community redevelopment agencies on funding for private developments.

Prologis, Norges Acquire KTR Industrial for $5.9 Billion

By Erika Morphy, GlobeSt.com |
Professional Center at Riviera Point

EB-5-Funded Office Complex Completed in Miramar

By Samantha Joseph |

Developer Rodrigo Azpurua relied on investors from Venezuela, Colombia, Argentina, Russia and China to raise nearly $42 million for three South Florida office complexes.

The Westin Hotel

Starwood Hotels Giving Activists Reason to Check in

Starwood owns high-end hotel chains such as W and Westin, but analysts say it would benefit from some lower-cost hotel brands to keep up with rivals.

Alexander J. Perkins

Landlord and Tenant Fight Was Just First Round in Design District Sale

By Samantha Joseph |

A landlord and tenant fought for control of a property in Miami's Design District that attracted a $16 million offer from Thor Equities and ASB Real Estate Investments.

Home Construction Off to Weak March Start

Homebuilders opened the spring buying season at a slower pace than last year, a warning that recent hiring gains have failed to boost the real estate market.

Miami Beach Community Church located at 1620 Drexel Ave.

Lincoln Road Church at Center of Redevelopment Battle

By Eleazar David Melendez |

A yearlong bureaucratic and political battle over a proposed Lincoln Road development has moved to court, pitting preservationists against a prominent developer with grand plans for the future.

Over Objections, Cabinet Approves Land Sale for Miami-Dade Megamall

Gov. Rick Scott and the Florida Cabinet unanimously approved a deal Tuesday to sell state land near Hialeah for American Dream Miami, planned as the nation's largest shopping mall.

251 E. Flagler St.

Block in Downtown Miami Up for Grabs

By Samantha Joseph |

A retail parcel spanning an entire block in downtown Miami on Flagler Street, a block west of Biscayne Boulevard, just hit the market.

Really? Opa-locka Ranks Second in Nation for Housing Flips

By Samantha Joseph |

Realtytrac says Opa-locka is the second most profitable U.S. city for residential flipping and ranks second on flip sales volume as well.

Here Is Why Your Rent Will Probably Rise Again This Year

Living in an apartment? Expect your rent to go up again.

Real Estate Players Digging Deep, Donate to Sarnoff, Regalado Campaigns

By Eleazar David Melendez |

Miami real estate executives are make political contributions to campaigns by Teresa Sarnoff and Raquel Regalado.

3 Florida Rental Markets Among Least Affordable

Miami-Dade and Broward counties are among the least affordable places to rent in the U.S.

Blackstone Goes on Biggest Real Estate Spree Since Last Boom

Blackstone Group LP cemented its position as the world's biggest private-equity investor in real estate with a global buying spree that includes General Electric Co. assets and a California-based shopping-center owner.

The city's slogan is displayed in neon lights over Virginia Street in Reno, Nevada, U.S., on Thursday, March 19, 2015. Reno, a town that built an economy on quickie divorces, is mapping out the second act of its American life. As unemployment dropped by 1.5 percentage points the city has attracted tech companies such as Bay Area-based Apple Inc. and Tesla Motors Inc.  Photographer: David Paul Morris/Bloomberg

Its Economy Struggling, Reno Wants to Be Silicon Valley's Back Office

By James Nash |

Reno, Nevada, a town that built an economy on quickie divorces, is mapping out the second act of its American life.

Sawgrass Pointe 1 in Sunrise is changing hands as part of a $1.2 billion multi-state suburban office portfolio deal.

Duke Trades South Florida Portfolio to Joint Venture for $178M

By Samantha Joseph |

Starwood Capital Group and joint venture affiliates closed a deal worth more than $178 million with Duke Realty for an office portfolio in Sunrise, Pompano Beach and Plantation.

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

Univision Exec Sells Bath Club Condo for $1.7 Million

By Samantha Joseph |

Univision executive Alberto Ciurana sold his plush Sunny Isles Beach condo to developer Don Peebles.

Randolph Equity Partners, Inc. (REP)—a Fort Lauderdale-based real estate development and capital firm— announced its plans for the proposed redevelopment of Bahia Cabana Beach Resort in Fort Lauderdale.

Resort Makeover Unveiled for Lauderdale's Bahia Cabana

By Samantha Joseph |

A developer proposes a land swap with Fort Lauderdale to create a mixed-use project with a hotel and condominiums on the Intracoastal Waterway.

777 S. Flagler Drive in West Palm Beach

Palm Beach County Expands as Wealth Fund Magnet

By Eleazar David Melendez |

Atlantic Trust Wealth Fund Management is responding to an influx of wealth into South Florida by opening a West Palm Beach office.

6 Charged in Pre-Crash Mortgage Fraud

By Staff Report |

Six people in Miami and Brazil have been charged by federal prosecutors with scamming banks on real estate in Miami-Dade and Palm Beach counties, including Fisher Island homes.

Cheap Oil Is Squeezing Property Owners in Energy Hubs

By Sarah Mulholland |

Analysts expect refinancing to get more difficult in real estate markets dominated by the energy industry due to falling oil prices.

New Residential Agrees to Buy Home Loan Servicing Assets

​New Residential Investment Corp., a U.S. real estate investment trust, bought Home Loan Servicing Solutions Ltd.’s assets for about $1.2 billion, an agreement that replaces a merger announced in February.

Ventas Jumps After Announcing Ardent Buyout, REIT Spinoff

Ventas Inc. rose the most in three years after agreeing to buy a U.S. hospital company and saying it plans to spin off most of its skilled-nursing and rehabilitation properties into an independent real estate investment trust.

Bad News for Property Owners? South Florida Courts Slash Through Foreclosure Backlog

By Samantha Joseph |

When it comes to foreclosure lawsuits, good news for the judiciary could spell havoc for property owners.

Hovnanian Starting 538-Unit Senior Communiity in Parkland

By Samantha Joseph |

Groundbreaking is set Wednesday for Four Seasons at Parkland for buyers 55 and up.

Judge Sides With Miami Beach Condo Association on Engineer's Lien

By Eleazar David Melendez |

A Miami-Dade circuit judge rules an engineering firm suing a Miami Beach condo association can't use a single lien to recover for work done under nine contracts, the association's attorney said.

Huge Hialeah Warehouse Sold by Barclays for $95.75 Million

By Eleazar David Melendez |

A huge Hialeah warehouse has sold in one of the largest industrial deals of the year, with the mammoth building selling for almost $100 per square foot.

Pembroke Commerce Center Sale Tops $30 Million

By Samantha Joseph |

Prologis spent $30.26 million to acquire the large Class A industrial complex about half a mile west of Interstate 95 on Pembroke Road and Southwest 40th Avenue.

Modera Aparments

You Won't Believe How Much This Buyer Spent on Kendall Apartments

By Samantha Joseph |

Modera Dadeland, two midrise buildings with 350 units, goes for $104.5 million. That's close to $300,000 a unit.

Terry Stiles

Stiles Leadership Will Shift From Father to Son

By Samantha Joseph |

The Fort Lauderdale-based developer produces a succession plan that will unfold buy mid-2017.

Robert Menendez.

Exclusive Dominican Resort Tied to Senator's Indictment

A Dominican Republic resort long known as an exclusive Caribbean hideaway, where at least three former U.S. presidents have played golf, is one of the main settings in the corruption scandal enveloping Sen. Bob Menendez.

David Martin

Terra Developer Spends $14M on Secluded Miami Estate

By Eleazar David Melendez |

Terra Group president David Martin and his wife Christina buy a seven-bedroom mansion on Biscayne Bay near the historic Vizcaya estate.

Live in a Porsche? Designer Labels Draw Miami Homebuyers

The wow factor for Miami's skyscraper condos no longer comes from a dazzling Atlantic Ocean view.

Lennar Wins Again, 3rd DCA Backs $1B Verdict Against Nicolas Marsch III

By Samantha Joseph |

The Miami-based homebuilder was the victim of corporate sabotage that put its shares under attack.

Hedge Fund Billionaire Spends $71.2M on Palm Beach Estate

By Samantha Joseph |

Tudor Investment's Paul Tudor Jones II secures a six-acre estate on famed Billionaire's Row.

Brickell City Centre rendering

50% Down Payment is not the Norm at Brickell City Centre

By Eleazar David Melendez |

A condo in Brickell City Centre can be bought for 20 percent down at the purchase contract, with an additional 15 percent due 120 days after signing.

New Indicator Shows There's No Bubble Forming in US Housing

When a parking space in Manhattan costs $136,000 and only 15 percent of San Francisco's homes are affordable for the middle class, it's easy to worry that another housing bubble is around the corner.

Hearing About Chinese Drywall Damage Scheduled for April 28

With a hearing scheduled to decide how much money thousands of people are owed for Chinese drywall damage to their homes, the manufacturer has made payments required to participate, including $3.2 million to seven homeowners in Virginia.

Masoud Shojaee

Audit Spotlights Dispute in Homebuilder Shoma's Family

By Samantha Joseph |

The Internal Revenue Service audit wound up in Tax Court to resolve a nasty family dispute involving Doral-based Shoma Development Corp.

200 Via Palma, Palm Beach

Media Mogul Drops $30 Million on This Palm Beach Mansion

By Samantha Joseph |

Media mogul Herbert J. Siegel picks up a seven-bedroom waterfront mansion in Palm Beach.

It's Refinancing Time for Housing Bubble CMBS Loans

By Jennifer LeClaire |

It's no secret that over $300 billion in CMBS loans will need to be refinanced between now and 2017.

San Matero condo association's Jackie Durham holds an image of the the condition of the walls at a building there with attorney David Haber.

Condo Owners Claim Shoddy Construction and They Are Fuming; File $45M Suit

By Samantha Joseph |

The San Matera association hit a Kolter Homes affiliate with the $45 million lawsuit alleging widespread problems in the 676-unit community.

Letter to Editor: New Reverse Mortgage Rules Protect Consumers

By Phil Stevenson |

A reverse mortgage can provide retirees with significant benefits, the ability to convert illiquid home equity into a different type of investment, says letter writer Phil Stevenson.

Fidel Castro

Who Claims What Property Seized in Cuba? Fact and Figures

Soon after Fidel Castro came to power, his government seized the refineries, hotels and sugar plantations that were the most visible signs of the American hold on the island's economy.

Tamarina Restaurant located at 600 Brickell Ave.

Power Lunch: At Tamarina, 'They're Doing Things Just Right' (Slideshow)

By Eleazar David Melendez |

The Tamarina restaurant in Miami's Brickell Financial District is a designer niche with Italian leanings.

The Lyric Theater

Will $2M in Grants to Two Politically Connected Organizations Bring Nightlife to Overtown?

By Eleazar David Melendez |

Miami's Southeast Overtown-Park West Community Redevelopment Agency is pushing a nighttime initiative with $2 million in grants to two organizations.

In Property Tax Disputes, Taxpayers Want Their Interest Back

By Noreen Marcus |

The Rennert Vogel law firm files a proposed class action for interest on Miami-Dade County property taxes when bills are disputed.