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Real Estate News
Site URL: therealdeal.com/market/miami/
Feed URL: feeds.feedburner.com/trdnews_miami
Posts: 56
Followers: 1
Bridge Industrial expands warehouse portfolio near Miami International Airport with $45M purchase
https://therealdeal.com/miami/2024/10/11/bridge-industrial-pays-45m-for-industrial-park-in-doral/
Published: October 11, 2024 20:30
Bridge Industrial continues stacking up warehouse sites in Miami-Dade County, acquiring a Doral business park for $45.4 million. An affiliate of Chicago-based Bridge, led by CEO Steve Poulos, acquired Corporate Park of Doral at 7705 Northwest 48th Street,…
Diana Ross rents out waterfront Venetian Islands house for $95K a month
https://therealdeal.com/miami/2024/10/11/diana-ross-rented-out-her-miami-house-for-95k-a-month/
Published: October 11, 2024 19:30
The Queen of Motown found a renter for her waterfront Venetian Islands home in Miami for $95,000 a month, The Real Deal has learned. Diana Ross rented her house at 1379 North Venetian Way on San Marco Island for six months, according to a press release.…
Final cut: Cachita Universal Studios could lose Doral production facility to foreclosure
https://therealdeal.com/miami/2024/10/11/television-recording-studio-near-doral-faces-foreclosure/
Published: October 11, 2024 18:30
Cachita Universal Studios near Doral could be entering its final filming season after a lender filed a foreclosure complaint against the owner of the television production facility. An affiliate of Miami-based Altamar Financial Group is suing Alain…
Closings underway at Fort Partners’ Seaway at the Surf Club luxury condo project
https://therealdeal.com/miami/2024/10/11/closings-underway-at-fort-partners-seaway-at-the-surf-club/
Published: October 11, 2024 16:37
Fort Partners completed a boutique condo project next to its record-setting Four Seasons Hotel and Residences at the Surf Club in Surfside, newly recorded closings show. An affiliate of Fort Lauderdale-based Fort Partners, led by Nadim Ashi, has so far…
Brooklyn developer launches sales for second Bay Harbor Islands condo project
Published: October 11, 2024 14:30
Brooklyn-based developer Redhoek+ is launching sales for its second planned condo project in Bay Harbor Islands. The planned seven-story, 18-unit Pool Haus at 1130 100th Street is intended to be a “sister building” to Solina Bay Harbor, the first South…
The Daily Dirt: Developers open up about failure, seeking help
https://therealdeal.com/miami/2024/10/11/daily-dirt-developers-open-up-about-failure-seeking-help/
Published: October 11, 2024 11:30
In the wake of Artem Tepler and Brandon Miller’s suicides, I pitched a story to our staff about how real estate developers deal with disaster. It was a challenging assignment, because in this industry, rarely does anyone acknowledge professional failures…
Hurricane Milton’s destruction: crane collapse, tornado damage, flooding
https://therealdeal.com/miami/2024/10/10/hurricane-milton-causes-crane-collapse-deadly-tornadoes/
Published: October 10, 2024 21:47
In the wake of Hurricane Milton, developers and contractors in the Tampa Bay area are evaluating damage at project sites, calling insurers and preparing to resume construction work. Milton made landfall as a Category 3 storm with winds of 120 miles per…
Värde seeks $77M foreclosure against Coral Gables office complex owner
https://therealdeal.com/miami/2024/10/10/varde-files-foreclosure-against-coral-gables-office-owner/
Published: October 10, 2024 20:30
Värde Partners is foreclosing on the owner of a Coral Gables office complex for allegedly defaulting on a $68.9 million mortgage. Since August, the amount owed ballooned to $77.4 million, including accrued interest and late fees, according to a foreclosure…
Aimco under contract to sell Hamilton multifamily tower, nearby Edgewater dev site for $204M combined
https://therealdeal.com/miami/2024/10/10/aimco-selling-hamilton-rental-tower-edgewater-dev-site/
Published: October 10, 2024 19:30
Aimco is selling the Hamilton apartment tower in Edgewater and a nearby development site for a combined $204 million. The pending deals come as the real estate investment trust has been putting some of its prime South Florida holdings on the market this…
“Broken promises:” Broker sues ex-husband over commission on $57M sale of Star Island estate
Published: October 10, 2024 18:30
Broker Alyssa Morgan spent a year and a half trying to sell her ex-husband’s waterfront Star Island mansion in Miami Beach, coordinating showings and negotiating offers. Morgan, who lived in the home at 27 East Star Island Drive when the couple was…
Lennar drops $54M for 172 homesites at Lotis mixed-use project in Wellington
https://therealdeal.com/miami/2024/10/10/lennar-buys-172-homesites-at-lotis-wellington-project/
Published: October 10, 2024 14:30
Lennar paid $54 million for 172 homesites at a planned mixed-use project in Wellington, marking the homebuilder’s continued residential investment. Miami-based Lennar bought the nearly 52-acre vacant property west of U.S. 441 and south of Old Hammock Way,…
Azure closing tops Palm Beach County weekly condo sales
https://therealdeal.com/miami/2024/10/10/palm-beach-county-weekly-condo-report-3/
Published: October 10, 2024 13:45
Palm Beach County’s sales and dollar volume rose last week. Brokers closed 123 condo sales totaling $54.7 million from Sept. 29th to Oct. 6th. The previous week, brokers closed 93 condo sales totaling $45.9 million. Last week’s units sold for an average of…
Ares cements top ranking for pricey purchases in South Florida, paying $147M for Miami Lakes industrial complex
https://therealdeal.com/miami/2024/10/09/ares-pays-147m-for-miami-lakes-industrial-site/
Published: October 9, 2024 21:00
Ares Management paid $147 million for a recently completed Miami Lakes warehouse complex, notching the biggest industrial purchase so far this year. It’s also the third time in less than a year that Los Angeles-based Ares dropped nine figures for a South…
MG Developer, Prosper pay $31M for North Bay Village condo dev site
https://therealdeal.com/miami/2024/10/09/mg-developer-prosper-buy-waterfront-north-bay-village-site/
Published: October 9, 2024 20:31
MG Developer teamed up with Prosper Group to acquire a waterfront condo development site in North Bay Village for $30.9 million, The Real Deal has learned. Miami Beach-based Prosper, a development firm led by Jay Roberts, has been in contract to buy the…
Bluenest buys Homestead site for 219 townhouses, as south Miami-Dade resi development keeps surging
https://therealdeal.com/miami/2024/10/09/bluenest-development-buys-homestead-townhouses-dev-site/
Published: October 9, 2024 19:30
Bluenest Development bought a Homestead site with plans for 219 townhouses, as residential construction in south Miami-Dade County continues to surge. The Miami-based firm scooped up the 20-acre vacant property on the southeast corner of Tower Road and…
East Capital’s Miami-Dade industrial buying binge continues with $48M purchase near Aventura
https://therealdeal.com/miami/2024/10/09/east-capital-pays-48m-for-industrial-park-near-aventura/
Published: October 9, 2024 18:30
East Capital Partners is amassing industrial properties in Miami-Dade County, buying its third warehouse complex this year. An affiliate of Darien, Connecticut-based East Capital, led by co-founders Drew DeWitt and David Archibald, paid $48 million for…
Oil heiress sells Manalapan mansion for $16M, as tony enclave heats up
https://therealdeal.com/miami/2024/10/09/texas-oil-heiress-sells-manalapan-mansion-for-16m/
Published: October 9, 2024 14:35
Oil heiress Jean Christine Thompson sold an oceanfront estate in Manalapan for $15.6 million, as luxury activity picks up in the tony enclave. Thompson’s Dos Hermanas LLC sold the mansion at 3090 South Ocean Boulevard to entrepreneur Anthony Marlowe, One…
Murano at Portofino closing tops Miami-Dade weekly condo sales
https://therealdeal.com/miami/2024/10/09/miami-dade-county-weekly-condo-report-35/
Published: October 9, 2024 13:45
Miami-Dade County’s condo sales dollar volume dropped last week, as a closing at Murano at Portofino in Miami Beach led the way. Brokers closed 120 condo sales totaling $75 million from Sept. 29th to Oct. 6th. The previous week, brokers also closed 120…
Damage from hurricanes Helene, Milton could top $200B
https://therealdeal.com/miami/2024/10/08/damage-from-hurricanes-helene-milton-could-exceed-200b/
Published: October 8, 2024 22:01
As Florida’s Tampa Bay region braces for Hurricane Milton to make landfall on Wednesday, many in the storm’s path are still reeling from Hurricane Helene’s destruction. Both hurricanes could result in damage topping $200 billion, estimates show. The…
Elliott completes Brickell office tower purchase for $443M, solidifying the hedge fund’s position as major South Florida player
https://therealdeal.com/miami/2024/10/08/eliott-pays-443m-for-701-brickell-avenue-office-tower/
Published: October 8, 2024 21:43
Paul Singer’s Elliott Investment Management completed its purchase of a Brickell office tower for $443 million. The deal, billed as the second largest office deal in state history by the brokers involved, makes Singer’s hedge fund a major player in one of…
Hotusa checks into Miami Beach, pays $20M for Art Deco hotel
https://therealdeal.com/miami/2024/10/08/hotusa-pays-20m-for-art-deco-hotel-on-ocean-drive/
Published: October 8, 2024 20:38
Grupo Hotusa is booking into Miami Beach, acquiring an Art Deco hotel for $19.7 million. An affiliate of Barcelona-based Hotusa, led by President Amancio Lòpez Seijas, bought the Eurostars Winter Haven, a 71-room property completed in 1939 at 1400 Ocean…
Site Centers offloads another South Florida retail property, selling Boynton Beach shopping center for $31M
https://therealdeal.com/miami/2024/10/08/site-centers-sells-boynton-beach-shopping-center-to-dra/
Published: October 8, 2024 18:30
Less than a month after selling a Midtown Miami building anchored by Target, Site Centers offloaded a Boynton Beach shopping center. An affiliate of Beachwood, Ohio-based Site Centers sold The Village Square at Golf for $31.1 million to an affiliate of New…
That’s hot: Hiltons expanding brokerage to Palm Beach amid market boom
https://therealdeal.com/miami/2024/10/08/hiltons-expanding-brokerage-to-palm-beach/
Published: October 8, 2024 17:36
Barron Hilton is bringing his family’s namesake brokerage, Hilton Hilton, to Palm Beach, The Real Deal has learned. The fourth generation scion of the Hilton dynasty is chasing his manifest destiny from Rodeo Drive to Worth Avenue, according to sources and…
Cosmetic surgery center owner sells oceanfront Golden Beach home for $22M
https://therealdeal.com/miami/2024/10/08/cosmetic-surgery-center-owner-sells-golden-beach-house/
Published: October 8, 2024 14:30
The owner of a Miami cosmetic surgery center sold his oceanfront Golden Beach home for $22 million, one month after upsizing to a larger mansion nearby. Records show Daniel Gonzalez sold the house at 469 Ocean Boulevard to Tahiti Beach Trust, managed by…
Broward condo sales drop in September to $199M
https://therealdeal.com/miami/2024/10/08/miabroward-county-september-condo-sales-report/
Published: October 8, 2024 13:45
Broward County’s September condo sales and dollar volume hit their lowest levels so far this year. September condo sales totaled $199 million, falling from $253 million in August. Brokers closed 630 sales last month, down from 824 sales in both August and…
Isaac Lustgarten exits Alexanders’ Official, joins Corcoran
https://therealdeal.com/miami/2024/10/07/isaac-lustgarten-exits-alexanders-official-joins-corcoran/
Published: October 7, 2024 21:44
Oren Alexander’s longtime associate, Isaac Lustgarten, exited Official and joined the Corcoran Group, The Real Deal has learned. Lustgarten is the latest agent to depart Official since sexual assault and rape allegations were made in civil lawsuits…
SmartStop adds fourth self-storage facility to South Florida portfolio, paying $31M for North Miami site
https://therealdeal.com/miami/2024/10/07/smartstop-pays-31m-for-north-miami-self-storage-building/
Published: October 7, 2024 21:00
SmartStop beefed up its South Florida self-storage portfolio, buying a recently completed North Miami facility for $30.8 million. An affiliate of Ladera Ranch, California-based SmartStop, led by CEO H. Michael Schwartz, acquired a three-story…
P6 enters Miami-Dade market after paying $16M for dev site near Aventura Mall
https://therealdeal.com/miami/2024/10/07/p6-plans-mixed-use-project-after-paying-16m-for-ojus-site/
Published: October 7, 2024 19:36
P6 Group expanded its pipeline into Miami-Dade County, paying $16 million for a development site near Aventura Mall. The Boca Raton-based developer is planning The Gateway, an 18-story mixed-use project with 210 apartments and 13,185 square feet of office…
Stearns family secures buyer for waterfront Key Biscayne mansion asking $27M
https://therealdeal.com/miami/2024/10/07/stearns-family-selling-27m-waterfront-key-biscayne-home/
Published: October 7, 2024 18:30
A waterfront mansion on the market for $26.5 million in Key Biscayne secured a buyer, topping last week’s signed residential contracts report in Miami-Dade County. The 8,031-square-foot, six-bedroom home at 180 Cape Florida Drive is on the market with…
Palm Beach County condo sales drop in September to $221M
https://therealdeal.com/miami/2024/10/07/palm-beach-county-september-condo-sales-report-2/
Published: October 7, 2024 14:30
Palm Beach County’s condo sales and dollar volume fell last month. September condo sales totaled $221 million, falling from $233 million in August. Brokers closed 445 sales last month, down from 546 sales in August and 613 in July, Multiple Listing Service…
Movers & Shakers: Forman Capital names associate VP
https://therealdeal.com/miami/2024/10/07/movers-shakers-forman-capital-names-associate-vp/
Published: October 7, 2024 13:45
Firms are bulking up on personnel in the latest roundup of South Florida real estate hiring news. In Palm Beach, commercial lender Forman Capital promoted Evan Blair to associate vice president, a press release shows. Blair has been with Forman Capital…
Morgan and Carlyle pay $19M for Pompano Beach dev site that includes closed Macy’s store
https://therealdeal.com/miami/2024/10/04/morgan-carlyle-pay-19m-for-pompano-beach-dev-site/
Published: October 4, 2024 20:45
Morgan Group and Carlyle Group are moving ahead with plans for a new garden-style apartment complex in Pompano Beach after paying $18.8 million for a redevelopment site that includes a shuttered Macy’s store. The New York-based department store chain sold…
Former TV advertising boss sells Jupiter spec mansion for $16M
https://therealdeal.com/miami/2024/10/04/former-itn-networks-ceo-sells-jupiter-spec-mansion-for-16m/
Published: October 4, 2024 19:30
Ahead of South Florida real estate’s busy season, a former TV advertising boss sold a $16.3 million Jupiter waterfront spec mansion in an off-market deal. Records show Lox River Road LLC, a Florida entity managed by Timothy Connors Jr., sold the house at…
Northwood dips into South Florida’s industrial market with $47M warehouse purchase
https://therealdeal.com/miami/2024/10/04/northwood-investors-pays-47m-for-doral-warehouse/
Published: October 4, 2024 18:34
Northwood Investors is wading into South Florida’s booming industrial market after paying $46.5 million for a Doral warehouse. An affiliate of Northwood, a Denver-based real estate investment firm, purchased a 201,827-square-foot facility at 10000…
Resi roundup: Homebuilding, mini golf moguls buy South Florida properties
https://therealdeal.com/miami/2024/10/04/resi-roundup-hovnanian-ceo-buys-south-florida-home/
Published: October 4, 2024 14:30
In the latest roundup of South Florida luxury residential deals, moguls from a range of industries bought properties in the region. The CEO of one of the nation’s largest homebuilders, a recruiting software boss and a mini golf mogul purchased homes from…
Miami-Dade condo sales drop in September to $438M
https://therealdeal.com/miami/2024/10/04/miami-dade-county-september-condo-sales-report-2/
Published: October 4, 2024 13:56
Miami-Dade County’s condo sales and dollar volume continued to decline last month. September condo sales totaled $438 million, falling from $470 million in August. Brokers closed 626 sales last month, down from 712 sales in August and 810 in July, Multiple…
Javier Cervera bulks up retail portfolio with $18M Kendall shopping center purchase
https://therealdeal.com/miami/2024/10/03/javier-cervera-pays-18m-for-kendall-shopping-center/
Published: October 3, 2024 21:34
Javier Cervera now has a dozen retail buildings and shopping centers in his Miami-Dade commercial portfolio, after paying $18.2 million for a Kendall shopping center anchored by a Firestone tire and car repair shop. An affiliate of his Coral Gables-based…
Meta Development plans Brickell boutique condominium
https://therealdeal.com/miami/2024/10/03/meta-development-plans-brickell-boutique-condo/
Published: October 3, 2024 21:08
Meta Development is planning a boutique lowrise condominium with 36 units in Miami’s Brickell, once it completes its acquisition of an assemblage for a total of $21 million. The Miami-based firm, which launched late last year, is under contract to…
US Development lands $68M additional construction financing for Pompano Beach condos
https://therealdeal.com/miami/2024/10/03/us-development-scores-68m-loan-for-pompano-beach-condos/
Published: October 3, 2024 19:30
U.S. Development has secured a total of $73.8 million in construction financing for its planned Salato Residences in Pompano Beach. Records show the Philadelphia-based developer secured a $67.8 million loan from Maxim Capital Group last week, in addition…
Jason Talbot and Monceau settle lawsuit over workforce housing dev site in Goulds
https://therealdeal.com/miami/2024/10/03/jason-talbot-settles-lawsuit-against-monceau-real-estate/
Published: October 3, 2024 18:42
Jason Talbot has made peace with Monceau Real Estate after the Miami Beach-based firm’s owners agreed to buy out his minority interest in a Goulds development site. Talbot, principal of Miami-based Workforce Housing Partners, settled his recent lawsuit…
South Miami grants initial approval to Sunset Place development agreement
Published: October 3, 2024 14:30
South Miami commissioners unanimously approved a development agreement with Alex Vadia’s firm for the Shops at Sunset Place mixed-use project, the largest redevelopment planned in the city. The resolution will return to the South Miami commission for a…
Four Seasons Fort Lauderdale closing tops Broward weekly condo sales
https://therealdeal.com/miami/2024/10/03/broward-county-weekly-condo-report-2/
Published: October 3, 2024 13:45
Broward County’s condo sales, dollar volume and price per square foot surged last week, with Four Seasons Residences Fort Lauderdale leading the way. Brokers closed 126 condo sales totaling $43.3 million from Sept. 22nd to Sept. 29th. The previous week,…
Aventura condo board president charged with money laundering, racketeering as part of $1.5M scheme
https://therealdeal.com/miami/2024/10/02/condo-board-president-stole-1-5m-from-association-police/
Published: October 2, 2024 21:00
The longtime president of the Turnberry on the Green condo association in Aventura was arrested on charges of money laundering, racketeering, grand theft, organized fraud and more in an alleged $1.5 million scheme. The Office of Miami-Dade State Attorney…
The Brits are coming: Billionaires Simon and David Reuben are seeking majority stake in W South Beach for $400M-plus
https://therealdeal.com/miami/2024/10/02/reuben-brothers-buying-majority-of-w-south-beach-for-400m/
Published: October 2, 2024 20:32
British billionaires Simon and David Reuben are betting big on Miami Beach’s hospitality market, seeking majority ownership of the W South Beach for close to a half-billion dollars. Reuben Brothers, their eponymous London-based global investment arm, is…
Miami Beach board approves expanding Standard hotel
https://therealdeal.com/miami/2024/10/02/sternlicht-ingels-standard-miami-beach-plan-moves-ahead/
Published: October 2, 2024 18:47
A star-studded group that includes billionaire developer Barry Sternlicht, architect Bjarke Ingels and hospitality CEO Miguel Isla Esteve secured approval to expand and renovate the Standard Spa, Miami Beach. Sternlicht, Ingles, Isla Esteve, Anthonio de…
Tavistock begins closings on Pier Sixty-Six condos in Fort Lauderdale
Published: October 2, 2024 14:30
Tavistock Group began closings on units in its Pier Sixty-Six condo project in Fort Lauderdale this week. The developer completed construction on its two-building, 31-unit Resort Residences this summer. Its 11-story, 29-unit, Azul condos recently received…
Adam Neumann’s Flow launches Miami condo sales
https://therealdeal.com/miami/2024/10/02/adam-neumann-launching-first-miami-condo-tower/
Published: October 2, 2024 13:55
Flow, the apartment startup founded by Adam Neumann, is adding condominium ownership to its offerings in South Florida. Neumann is launching sales at Flow House, a 466-unit project in Downtown Miami. The residences at the 40-story development within Miami…
One Thousand Ocean closing tops Palm Beach County weekly condo sales
https://therealdeal.com/miami/2024/10/02/palm-beach-county-weekly-condo-report-2/
Published: October 2, 2024 13:45
Palm Beach County’s condo sales and dollar volume gained steam last week. Brokers closed 93 condo sales totaling $46.2 million from Sept. 22nd to Sept. 29th. The previous week, brokers closed 67 condo sales totaling $45.9 million. Last week’s units sold…
How Goldentayer’s game won her a top spot in Miami luxury real estate
Published: October 2, 2024 11:00
Dina Goldentayer sits at the apex of ultra-luxury real estate in Miami. She has closed deals involving billionaire Jeff Bezos, tennis pro Caroline Wozniacki and former celebrity couple Joe Jonas and Sophie Turner. Her sales volume has exceeded $2 billion…
Inside billionaire Russell Weiner’s construction of massive Miami Beach waterfront estate
Published: October 1, 2024 21:24
Billionaire Russell Weiner is building a waterfront estate in Miami Beach, three years after he began acquiring some of Pine Tree Drive’s largest properties. But development of the lots has some neighbors raising red flags about the construction process…
Dermot is back in South Florida, scoops up 350-unit Wellington apartment project for $144M
https://therealdeal.com/miami/2024/10/01/dermot-pays-144m-for-wellington-multifamily-project/
Published: October 1, 2024 20:30
Two years after splashing into South Florida to buy multifamily properties, Dermot Company added a Wellington apartment complex for $144.2 million. An affiliate of Dermot, a New York-based, multifamily-focused real estate investment firm, acquired The…
Late Wingate founder’s Palm Beach estate sells at steep discount for $43M
https://therealdeal.com/miami/2024/10/01/late-wingate-founders-palm-beach-mansion-sells-for-43m/
Published: October 1, 2024 19:42
The Palm Beach home of late developer Jerry Schuster and his wife, Elaine Schuster, sold for $42.5 million, a steep discount from its $62.9 million listing price two years ago, sources told The Real Deal. The trust of the late Elaine Schuster sold the…
Andrew Korge makes $28M offer for Location Ventures Coconut Grove dev site
https://therealdeal.com/miami/2024/10/01/andrew-korge-offering-28m-for-location-ventures-dev-site/
Published: October 1, 2024 18:40
Andrew Korge is aiming to drop $28.2 million for a former Rishi Kapoor development site in Coconut Grove that ignited the embattled developer’s legal troubles. Bernice Lee, a court-appointed receiver managing the assets of Kapoor’s defunct Coral…
Supermodel Elle Macpherson sells Coral Gables mansion for nearly $19M
https://therealdeal.com/miami/2024/10/01/supermodel-elle-macpherson-sells-coral-gables-mansion/
Published: October 1, 2024 17:30
Supermodel Elle Macpherson sold her mansion in Coral Gables for $18.5 million. Bumda Trust, a hidden trust managed by an attorney, acquired the 8,935-square-foot, six-bedroom and six-and-a-half-bathroom home at 9550 Journeys End Road, property records…
Construction moguls sell Palm Beach condo for record $16M
https://therealdeal.com/miami/2024/10/01/constructions-moguls-sell-palm-beach-condo-for-record-16m/
Published: October 1, 2024 14:30
Construction moguls Rod and Gregory Oneglia sold their condo in Palm Beach’s Kirkland House for $15.7 million, marking a price record for the building. Records show a trust, represented by the Oneglias and attorney Robert F. Cohn, sold unit 6A in the…
Oceana Key Biscayne closing tops Miami-Dade weekly condo sales
https://therealdeal.com/miami/2024/10/01/miami-dade-county-weekly-condo-report-34/
Published: October 1, 2024 13:45
Miami-Dade County’s condo sales, dollar volume and price per square foot fell last week, as an $8.4 million closing topped the list. Brokers closed 120 condo sales totaling $78.8 million from Sept. 22nd to Sept. 29th. The previous week, brokers closed 134…