Real Estate News

Joe Sirven

Firms Scramble to Find Corporate, Real Estate Associates

By Julie Kay |

Joe Sirven of Holland & Knight said a "perfect storm" has led to a shortage of midlevel associates for corporate and real estate groups.

First Church of Christ Scientist building located at 256 NE 19th Street

Historic Miami Church Could Become Base of Condo Tower

By Eleazar David Melendez |

A developer is proposing converting a turn-of-the-century Christian Science church north of downtown Miami into a grocery store--and build a condo tower on top.

Here's What Developers Plan to do With the North Miami Beach Land They Just Paid $30M For

By Samantha Joseph |

Developers closed the 4.4-acre land deal for a planned 330-unit condominium complex.

3590 Crystal View Court

LeBron James Home Sells for $13M to Mayfair Owner

By Eleazar David Melendez |

The buyer of the departed Heat star's Miami pad is happy to close on the Coconut Grove mansion after living in it for a few month.

Piling drilling at One Thousand Museum construction site

24-Hour Cement Pour Survives Last-Minute Anxieties

By Eleazar David Melendez |

A 24-hour cement pour to create the foundation for the 709-foot One Thousand Museum condominium tower north of downtown Miami required loads of coordination while sales proceed.

Bankruptcy Judge Sides With Owner on Home Surrender

By Samantha Joseph |

Going against two precedent-setting rulings, U.S. Bankruptcy Judge A. Jay Cristol in Miami found it would be unjust to force homeowners to tap out of foreclosure cases.

$1.5M Award for Zoning Change Thwarting Hollywood Condo Plan

By Samantha Joseph |

A developer won a $1.5 million verdict in a downzoning case against Hollywood but lost on a potentially more expensive constitutional challenge.

Martin Melo

Melos' Project Is Flashier But $95 Million Loan Is Still No Frills

By Eleazar David Melendez |

Martin Melo said the Melo Group might not even need to tap into the $95 million loan to fund construction of Aria on the Bay.

Gary S. Gostel, Bruce Lamchick, and Ryan Lamchick

Attorneys' Hunch Unravels Trail of Mortgage Fraud

By Samantha Joseph |

Miami attorneys uncovered a real estate scam involving claims of a forged notary public signature, fraudulent documents and brisk deed transfers.

How Mandatory Accounting Methods Impact Condo Developers

By Mitchell W. Goldberg |

Attorney Mitchell W. Goldberg analyzes the tax impacts of mandatory accounting methods for condominium developers during construction.

Foreclosure

4th DCA Junks Foreclosure Backed by Flimsy Documents

By Samantha Joseph |

A lender that couldn't get its story straight ended up on the losing end of a foreclosure appeal in the case of a Royal Palm Beach homeowner.

Call Center Snags Big Pompano Beach Office Lease

By Samantha Joseph |

A Nashville, Tennessee-based Sitel Operating Corp. leased about 114,000 square feet for a new call center in Pompano Beach.

Chris Lovell, Senior managing director, Savills Studley

Are Chinese Developers Planning Giant Brickell Office Tower?

By Eleazar David Melendez |

According to CoStar Group Inc., a future Class A office building is planned for the former Capital at Brickell site that would create 3.6 million square feet of office space at 1420-1438 S. Miami Ave.

Paulson Takes 7% Starwood Stake to Become Top Shareholder

By Nadja Brandt and Miles Weiss |

John Paulson's hedge funds last quarter acquired a 7 percent stake in Starwood Hotels & Resorts Worldwide Inc., becoming the biggest shareholder in the company as it explores strategic alternatives.

Why Americans Waiting Longer Than Ever to Buy First Homes

By Josh Boak |

Short of cash and unsettled in their careers, young Americans are waiting longer than ever to buy their first homes.

Susan Trench

Developer Sues Two Cities in Pursuit of Mid-Rise Projects

By Eleazar David Melendez |

A developer rejected for zoning changes in Miami and South Miami is suing the citiies for votes that didn't go its way.

Joe Nacchio

Ex-Qwest Exec and Ex-con Sells Jupiter Estate

By Samantha Joseph |

Joseph Nacchio, the former Qwest CEO convicted of insider trading, and his wife sell his Jupiter estate for $13 million.

Lone Star Deal Marks Return of Risky Mortgage Bonds

By Jody Shenn |

About 220 home loans packaged into a $72 million bond offering by private-equity firm Lone Star Funds were backed by new loans to homeowners with riskier credit profiles in which the government didn't take at least some of the default risk.

480 Ocean Blvd, Golden Beach

This Unusual Tactic Paid Off for Golden Beach Mansion Builder

By Eleazar David Melendez |

To sell spec homes in Golden Beach, a developer took a page from the marketing handbook for high-rise condos.

$46 Million Lands Hollywood Office Complex

By Samantha Joseph |

MetLife trades the Venture Corporate Center to a Denver-based real estate investment trust.

California Investor Buys Boca-Area Apartments

By Samantha Joseph |

A major Los Angeles player invested $34 million in the 166-unit Addion Place Apartments west of Boca Raton.

Peter C. Gardner

Colliers Buys Miami Brokerage With Retail Strengths

By Eleazar David Melendez |

The merger promises to strengthen foreign investment in the Coconut Grove retail base.

Bridging Cultural Gaps with Chinese Real Estate Buyers

By Anthony Kang |

South Florida professionals dealing with prospective Chinese buyers need to understand their needs and establish a knowledgeable and supportive network, writes attorney Anthony Kang.

RJ de Varona

Fed Up With Miami-Dade Traffic? Why Developers are in a Catch-22

By Eleazar David Melendez |

A residential project in Miami's Coconut Grove iillustrates a Catch-22 for developers: how to build developments that feed public transit when the infrastructure is below par.

Why Developer Was Offended With Line of Questioning From Weiss Serota Attorney

By Samantha Joseph |

The developer planned a high-rise condo tower but claims City Commission action to shorten building height limits robbed it of construction options.

Baron Alan Sugar

Britain's 'The Apprentice' Host Sells Boca Raton Estate

By Samantha Joseph |

Baron Alan Sugar sells the estate with Intracoastal Waterway access for $6.8 million, or $500 per square foot.

Leaky Foundation? Slowpoke Condo Association? Room for Relief in Court

By Michael E. Chapnick |

A state appeals court case sheds new light on a condo association's duty to maintain and repair structural and common elements of the property, writes attorney Michael E. Chapnick.

Luis Flores of Arnstein & Lehr

Muse Condo Lands $134M Construction Loan

By Samantha Joseph |

A Los Angeles lender is providing $134 million for the 68-unit luxury Muse condo development in Sunny Isles Beach.

City of Miami Commissioner Francis Suarez, during commission meeting about the approval of the Worldcenter in Downtown Miami.

Miami Leader Seeks Trust to Fund Mass Transit, Parking

By Eleazar David Melendez |

Miami will consider creating a transportation trust fund to help finance major mass transit and parking improvement initiatives.

Ex-Affordable Housing Execs Charged in Miami Kickback Scheme

By Celia Ampel |

Four South Florida developers and two general contractors are charged with being part of a kickback scheme that inflated affordable housing contracts by at least $26 million.

1647 North View Drive

Plastic Surgeon, 'Real Housewife' Sell in Miami Beach for $10 Million

By Eleazar David Melendez |

Miami plastic surgeon Leonard Hochstein, sells a Sunset Islands estate for more than twice what he paid in 2005.

Foreclosure

Owner Claims Forged Affidavit Filed for Her in Foreclosure Case

By Samantha Joseph |

A judge is being asked to consider a foreclosure defense attorney's request to withdraw from a case where the firm is accused of filing a forged affidavit. The noteholder's attorney wants sanctions.

Miami Airport Marriott, 1201 NW LeJeune Road

Miami Airport Marriott Complex Gets $99 Million Loan

By Eleazar David Melendez |

The $99 million loan marks the latest in a summer of hot South Florida hotel deals.

What Will $20 Million Get You? Buildable Waterfront Lot in Miami Beach

By Samantha Joseph |

The 37,895-square-foot parcel combines three lots facing west on Biscayne Bay.

David Albert

No End in Sight for Warehouse Demand in Miami-Dade

By Eleazar David Melendez |

Miami-Dade County warehouse developers are planning a flurry of new construction on a scale not seen since the last real estate cycle.

Niu Kitchen

Power Lunch: NIU Kitchen Garners Attention After Low-Key Start

By Julie Kay |

NIU Kitchen's location on Northeast Second Avenue is not the typical place to find a power lunch spot.

Tim Lobanov

Despite Chinese Growth, Miami Investors Mostly Latin American

By Jennifer LeClaire |

Tim Lobanov, managing director of Verasca Group, shares his thoughts on the foreign investment coming into the Miami market.

ontainebleau in Miami Beach

Court: Daughter of Fontainebleau Heir's Killer-Wife Can Inherit

By Samantha Joseph |

The daughter of a woman who killed her husband, Fontainebleau hotel heir Ben Novack Jr., and mother-in-law can inherit his fortune if they overcome one more challenge from his relatives, a state appeals court rules.

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

Kenny Nachwalter is Moving to Brickell to Avoid, Get This, Traffic

By Eleazar David Melendez |

Litigation boutique Kenny Nachwalter is moving from downtown Miami in part to avoid traffic, its broker says.

Room for Discretion: Appeals Court Spurns Key Biscayne Developer

By Celia Ampel |

The Third District Court of Appeal rules for the village of Key Biscayne after it rejected a developer's proposed site plan.

Cyril Bijaoui

213 Checks Out the 305: Southern Californians Eyeball South Florida Real Estate

By Eleazar David Melendez |

Broker Cyril Bijaoui is luring Californians to invest in Miami by showcasing South Florida's geographic diversification and tax benefits.

Roy and Adam Diaz

Bankruptcy Judges Clamp Down on Homeowners in Foreclosure

By Samantha Joseph |

Bankruptcy judges in West Palm Beach and Tampa say homeowners can't have it both ways, surrendering property in bankruptcy while battling to save the same property in state foreclosure cases.

19-21 NE 39th St. in the Design District.

Native Trees Seen as Design District Salvation

By Eleazar David Melendez |

Trees were planted along eight blocks in Miami's Design District to solve the weather challenges posed by sticky South Florida summers.

Diamante1-Mexico

Surf's Up! No Ocean No Problem for Lagoon Creator

By Eleazar David Melendez |

A water technology firm is pitching developers on what was an impossible dream: creating a beach anywhere.

Oops! How a Mistake Cost Bank of America in Foreclosure Case

By Samantha Joseph |

The Fourth District Court of Appeal rules Bank of America made a costly mistake and subtracted $196,000 in interest before affirming the foreclosure.

Design District Property Sells for $3,000 Per Foot

By Eleazar David Melendez |

Miami Beach investor David Edelstein paid $65 million for three buildings in Miami's Design District.

New Foreclosure Climate Brings Law Firm Casualties

By Lizzy McLellan and David Gialanella |

Nearly eight years after the subprime mortgage crisis violently shook the U.S. economy, law firms representing lenders and servicers in foreclosure actions are continuing to feel aftershocks that are sometimes fatal.

Joe Grant

It's a Miracle! Both Sides Win in Unique Foreclosure Solution

By Samantha Joseph |

Attorney Joey Michael Grant helped work a solution where a congregation in need of a building bought the note of a church facing foreclosure.

Ignacio Diaz

Venezuelan Developer Bucks Trend by Building in Broward, Boca Raton

By Samantha Joseph |

Despite access to a Venezuelan stronghold in Doral, Venezuelan developer Group P6 is at work on $65 million of new real estate projects outside Miami-Dade.

Review Honors Young Lawyers Who Are Rising Stars

By Review staff |

The Daily Business Review announces its 2015 class for Rising Stars—a selection of South Florida lawyers under the age of 40 who are making a difference in the community and will continue to do so in the future.

Alexandros Xakoustis

Cookie-Cutter Kitchens Just Don't Cut it Anymore

By Eleazar David Melendez |

Alexandros Xakoustis said a focus on star designers and luxury construction finishes has provided many new challenges for his kitchen designing company, Italkraft.

House Nightclub in Wynwood

Why Miami's House Nightclub is Picking a Fight With City of Miami

By Eleazar David Melendez |

As if battles with financial backers, its landlord and neighbors weren't enough, the club is battling the city for the right to keep its doors open.

Related Sells Lauderdale Complex for $149 Million

By Samantha Joseph |

TIAA-CREF buys the 382-unit Manor at Flagler Village for $390,052 per unit.

Marlins Park

Pay Ball! Why Miami Marlins Sued Real Estate Investor

By Eleazar David Melendez |

Miami Beach investor Sam Herzberg has made millions in the real estate boom, but a lawsuit claims he's shorting the Miami Marlins on a bill for season tickets.

Lennar Branching Out Big Time With $1 Billion Commitment to Apartments

Miami-based Lennar Corp., the largest U.S. homebuilder by market value, is forming a $1.1 billion joint venture that will develop apartment communities in 25 U.S. metropolitan markets.

Outdoor seating at Seasalt and Pepper restaurant on the Miami River

Miami River Board Looking to Clear Waterfront Promenade

By Eleazar David Melendez |

Miami civic leaders pledged to put pressure on scofflaw property owners along the Miami River, publicly rekindling longrunning disputes over how to create a public promenade on the waterfront.

How Chinese Demand for EB-5 Visas Has Slowed Things Down

By Samantha Joseph |

They're eager to invest in real estate, but a backlog might lead Chinese investors to delay deals under the EB-5 visa program.

Partners Plead Guilty in $65M Miami Mortgage Fraud

By Eleazar David Melendez |

Two partners in a real estate development and finance company and a senior underwriter plead guilty to wire fraud conspiracy charges.

Holiday Inn, Naples on 1785 Fifth Ave.

Why a Seven-Figure Loan on a Holiday Inn in Naples Shows Miami Isn't Florida's Only Hot Market

By Jennifer LeClaire |

HFF arranges a seven-figure mortgage with BankUnited for the 108-room Holiday Inn.

Suntrust International Center, 1 SE 3rd Ave, Miami, offers a fitness center and conference center.

Duh! Studies Find Miami Office Tenants Seek Views, Amenities (Slideshow)

By Eleazar David Melendez |

Even when they're typing away at computers, it appears Miami office workers still want waterfront views and luxury amenities.

RealtyTrac: Zombie Foreclosures Decline in South Florida

By Samantha Joseph |

The improving economy and better lender outreach mean fewer South Florida homes are being abandoned during foreclosure.

Mark Zuckerberg

Zuckerberg's Gumshoe Had Mission to Intimidate, Developer Says

Mark Zuckerberg's backyard privacy showdown has grown more tangled with competing claims about a mysterious African prince and a private eye accused of bullying a witness.

Coral Springs Office Buildings Sell for $20 Million

By Samantha Joseph |

A New York investor promises to spend big in South Florida after acquiring buildings at the Heron Bay Corporate Campus.

Ryan Bailine, with Greenberg Traurig

Downtown Miami Tower Plan Shoots for the Sky

By Eleazar David Melendez |

A notable South Florida architect is proposing what would be the tallest residential building in Miami east of the Claude Pepper Federal Building. But Liquid Lofts has several goverment hurdles to clear.

Eden Roc Miami Beach, 4525 Collins Ave.

Lenders Find Favor With Beach Hotel Investments

By Eleazar David Melendez |

Miami Beach's Eden Roc lands a $190 million loan, and Surfside's Grand Beach comes up with $50 million.

2 Big Construction Loans Cleared for Miami, Doral Projects

By Eleazar David Melendez |

Two of the largest construction loans of the latest real estate cycle closed on the same day for condos on Biscayne Bay and a mixed-use project in Doral.

Conrad Miami located at 1395 Brickell Ave.

Just How Much Will Sale of Brickell's Conrad Miami Be?

By Samantha Joseph |

The sale of the Conrad Miami is likely to be a one of the year's biggest deals with bids over $100 million.

657 Washington Ave., Miami Beach

One Side of South Beach Block Sells for $36 Million

By Eleazar David Melendez |

A joint venture scoops up half a block of Washington Avenue for $36 million—and borrows $45 million against it.

Lennar Development Venture May Go Public

Five Point Holdings, a developer of master-planned communities in California co-owned by Miami-based Lennar Corp., is considering an initial public offering.

Dan McCawley

Change of Strategies: Buyer to Keep Fort Lauderdale Property as Marina

By Samantha Joseph |

A major waterfront parcel just changed hands for $147 million—and it isn't going to a developer eager to build South Florida's newest luxury condos.

If Time Is of Essence for Zoning Change, Contract Better Say So

By Oscar R. Rivera |

A Third District Court of Appeal decision on a canceled commercial real estate deal shows the importance of a well-crafted contract, writes attorney Oscar R. Rivera.

Key Biscayne Goes to Court Again Over Miami's Plan for Marine Stadium

By Eleazar David Melendez |

Less than two weeks after agreeing to hammer out a deal, Key Biscayne has filed a third lawsuit over Miami's plan for redevelopment of Virginia Key.

Ritz-Carlton Fort Lauderdale Beach

Stake in Lauderdale Ritz-Carlton Sells for $45 Million

By Eleazar David Melendez |

In a hot market for South Florida hotels, a Miami hotel developer sells a majority stake in the trophy oceanfront property.

CityPlace Doral rendering

Related Gets $137M Loan for Doral Complex

By Samantha Joseph |

The Related Group secures the loan from Regions Bank to finance the first phase of CityPlace Doral with retail and residential segments.

Sergio Pino, President, CEO, Century Homebuilders Group.

Sergio Pino, Veteran Miami Developer, Why he's Shrinking to Survive

By Samantha Joseph |

Coming back from the brink of financial ruin, Sergio Pino is rebuilding his empire one townhouse at a time.

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.

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.

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.

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.