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Real Estate News
Site URL: therealdeal.com/market/miami/
Feed URL: feeds.feedburner.com/trdnews_miami
Posts: 37
Followers: 1
Integra picks up 317-unit West Palm apartment complex for $56M
https://therealdeal.com/miami/2024/10/22/axonic-sells-west-palm-rentals-to-integra-investments/
Published: October 22, 2024 14:30
Integra Investments picked up a 317-unit apartment complex in West Palm Beach for $55.5 million, in an otherwise sluggish multifamily investment market. The Miami-based firm bought Monaco Isles at 800 The Pointe Drive from New York-based Axonic Properties,…
Biscayne Beach closing tops Miami-Dade weekly condo sales
https://therealdeal.com/miami/2024/10/22/these-were-miami-dades-top-condo-sales-last-week/
Published: October 22, 2024 13:45
Condo sales in Miami-Dade County rose last week, while the price per foot and total dollar volume fell. Brokers closed 111 condo sales totaling $78.4 million from Oct. 13 to Oct. 20. That marks an improvement compared to the previous week, when brokers…
Yes, chef: Terra, Lion Development launch sales of Jean-Georges condo tower
Published: October 21, 2024 21:33
French chef Jean-Georges Vongerichten is looking to cash in on Miami’s branded condo boom. The Michelin-starred chef is working with David Martin’s Terra and Michael Simkins’ Lion Development Group on Vongerichten’s first residential project, according to…
Billionaire Jean Madar’s firm plans six Fisher Island spec mansions
https://therealdeal.com/miami/2024/10/21/billionaire-jean-madar-plans-fisher-island-spec-mansions/
Published: October 21, 2024 20:30
French perfume mogul Jean Madar is planning six spec mansions on Fisher Island, with prices ranging from $31 million to $55 million. The homes will be part of developer Heinrich von Hanau’s 12-lot Links Estates project, according to Bloomberg. Madar Group,…
Richard Born lands $75M construction loan for Nora hotel
https://therealdeal.com/miami/2024/10/21/bd-hotels-secures-nora-district-hotel-construction-loan/
Published: October 21, 2024 19:30
BD Hotels, led by New York boutique hotelier Richard Born, and its partners landed a $75 million construction loan for a hotel at downtown West Palm Beach’s Nora District. BD, in partnership with Nora District master developers Place Projects, NDT…
Telecom CEO’s Brickell penthouse asking $37M tops signed resi contracts
Published: October 21, 2024 17:39
A Brickell penthouse asking $36.9 million went under contract last week in a deal that will likely set a record for condo sales in the Miami neighborhood. Penthouse 56 at Echo Brickell, at 1451 Brickell Avenue, topped Eklund-Gomes’ residential signed…
Lease roundup: Korean restaurant Bonchon on tap at Moxy South Beach, Carmela Coffee opens in West Palm
https://therealdeal.com/miami/2024/10/21/codina-morning-calm-lightstone-sunbeam-score-tenants/
Published: October 21, 2024 14:31
Bonchon | Miami Beach Korean fried chicken restaurant Bonchon will open at the Moxy Miami South Beach hotel. Bonchon leased 2,900 square feet at 915 Washington Avenue, according to a news release from tenant broker Comras Company. The restaurant is…
Movers & Shakers: OneWorld Properties taps SVPs
https://therealdeal.com/miami/2024/10/21/oneworld-properties-hires-a-pair-of-senior-vice-presidents/
Published: October 21, 2024 13:45
Real estate firms are beefing up their leadership in South Florida in the latest roundup of industry hiring and personnel news. In Miami, Peggy Olin’s OneWorld Properties hired Uri Vaknin as senior vice president of strategy and innovation and Rebecca…
The Weekly Dirt: South Florida’s condo market keeps weakening
https://therealdeal.com/miami/2024/10/20/the-weekly-dirt-south-florida-condo-market-weakens/
Published: October 20, 2024 17:00
Condo sales have dropped. Inventory is up. While single-family homes have cemented themselves as prized possessions, demand for condos has weakened across most of South Florida, third quarter reports show. This will continue as condo buildings are forced…
West Palm Beach board approves BH, Related’s Ritz-Carlton Residences project
Published: October 18, 2024 21:00
BH Group and Related Group, two of the most prolific development partners in South Florida, can move forward with the first branded luxury condo project along West Palm Beach’s waterfront. On Wednesday, the West Palm Beach Planning Board voted 5-0 to…
FPL drops $60M for 350 acres in south Miami-Dade. Could a solar farm be in store?
https://therealdeal.com/miami/2024/10/18/florida-power-light-buys-350-acres-in-south-miami-dade/
Published: October 18, 2024 19:30
Florida Power & Light bought nearly 350 acres of land in south Miami-Dade County near a solar panel facility owned by the energy company. Juno Beach-based FPL bought the site between Krome Avenue and Southwest 187th Avenue, south of the Black Creek Canal…
Palm Beach County to vote on Vanderbilt campus
https://therealdeal.com/miami/2024/10/18/palm-beach-county-to-vote-on-vanderbilt-campus/
Published: October 18, 2024 17:50
Palm Beach County is slated to vote on Vanderbilt University’s proposal for a $520 million graduate school campus. The Board of County Commissioners will consider the creation of a development and conveyance agreement (DCA) for the proposed West Palm Beach…
French Montana buyer of oceanfront Golden Beach home
Published: October 18, 2024 16:44
French Montana is the buyer of an oceanfront Golden Beach home that recently sold for $22 million, The Real Deal has learned. The Moroccan-American rapper, whose real name is Karim Kharbouch, acquired a 7,300-square-foot, five-bedroom, five-bathroom house…
La Cascade and Tiffany House tie for priciest Broward weekly condo sale
https://therealdeal.com/miami/2024/10/18/broward-county-weekly-condo-report-4/
Published: October 18, 2024 13:45
Broward County’s condo sales, dollar volume, and price per square foot fell last week. Two closings tied for the top spot. Brokers closed 70 condo sales totaling $20.6 million from Oct. 8th to Oct. 15th. The previous week, brokers closed 142 condo sales…
Race to the top: Developer proposes 1,000-foot-plus mixed-use Brickell supertall
https://therealdeal.com/miami/2024/10/17/walter-defortuna-affiliate-proposes-brickell-supertall/
Published: October 17, 2024 21:30
Walter Defortuna, brother of Miami developer and broker Edgardo Defortuna, is proposing a 1,010-foot tall mixed-use tower in Brickell. The plan is the latest in a growing rush of supertall projects in Miami. The 81-story building would consist of 560…
BH, Related add West Palm Beach dev site to growing portfolio Tristan Simon
Published: October 17, 2024 20:53
BH Group and Related Group snatched up another development site, paying $34 million for a waterfront lot in West Palm Beach nearby another project the duo are working on. The frequent partners acquired a 0.8-acre property at 2001 North Flagler Drive, which…
Waste management boss buys $20M spec mansion in Boca Raton’s priciest neighborhood
https://therealdeal.com/miami/2024/10/17/coastal-waste-ceo-buys-boca-raton-spec-mansion-for-20m/
Published: October 17, 2024 16:30
Waste management boss Brendan Pantano bought a $19.8 million non-waterfront spec mansion in Boca Raton’s priciest neighborhood, Royal Palm Yacht & Country Club. Records show Pantano’s trust bought the house at 1654 Sabal Palm Drive from Steve and Scott…
Condo sales tumble across South Florida in the third quarter
Published: October 17, 2024 14:35
Residential pricing and inventory rose across much of South Florida in the third quarter, according to the latest Douglas Elliman reports. Single-family home sales were stronger than condo sales, according to the reports, which are authored by Jonathan…
Azure closing tops Palm Beach County weekly condo sales
https://therealdeal.com/miami/2024/10/17/palm-beach-county-weekly-condo-report-4/
Published: October 17, 2024 13:45
Palm Beach County condo sales and dollar volume plummeted last week. Brokers closed 57 condo sales totaling $22.1 million from Oct. 8th to Oct. 15th. The previous week, brokers closed 123 condo sales totaling $45.9 million. Last week’s units sold for an…
Fashion Nova founder buys waterfront Miami Beach spec home and non-waterfront house for $30M
https://therealdeal.com/miami/2024/10/16/fashion-nova-founder-buys-miami-beach-homes-for-30m/
Published: October 16, 2024 21:06
Richard Saghian, the billionaire founder and CEO of Fashion Nova, paid $30 million for a waterfront spec home and non-waterfront house in Miami Beach, The Real Deal has learned. Ami Shashoua, a fintech executive and spec home developer, sold the…
Terra, Turnberry score $75M grant for Miami Beach Convention Center hotel project
https://therealdeal.com/miami/2024/10/16/terra-turnberry-nab-75m-grant-for-miami-beach-hotel/
Published: October 16, 2024 21:02
Terra and Turnberry are getting a $75 million taxpayer infusion for the joint venture’s convention center hotel project in Miami Beach. Despite securing more than $500 million in private financing for the Grand Hyatt-branded development at the intersection…
Ricardo Dunin’s Oak Capital, Edifica propose 832-key Brickell hotel, boosting their development in Miami’s financial district
https://therealdeal.com/miami/2024/10/16/ricardo-dunins-oak-capital-edifica-propose-brickell-hotel/
Published: October 16, 2024 20:30
Developer Ricardo Dunin and Peruvian firm Edifica propose a 43-story hotel in Brickell, marking the companies’ continued investment in Miami’s financial district. North Development, a joint venture between Dunin’s Miami-based Oak Capital and Edifica, are…
Wheelock lists The Ben West Palm Beach for $208M
https://therealdeal.com/miami/2024/10/16/wheelock-lists-the-ben-west-palm-beach-hotel-for-208m/
Published: October 16, 2024 19:30
Wheelock Street Capital is accepting bids for a 208-key hotel along West Palm Beach’s waterfront, starting at $1 million per room. Greenwich, Connecticut-based Wheelock recently put The Ben West Palm Beach at 251 North Narcissus Avenue on the market with…
Resi roundup: NBA All Star, music producer buy, sell South Florida homes
https://therealdeal.com/miami/2024/10/16/resi-roundup-nbas-john-wall-buys-southwest-ranches-mansion/
Published: October 16, 2024 15:41
The latest roundup of South Florida residential deals included a former All Star point guard and a music producer buying and selling homes across the tri-county region. Deals spanned Southwest Ranches to Juno Beach and ranged in price from $7.8 million to…
Grove at Grand Bay closing tops Miami-Dade weekly condo sales
https://therealdeal.com/miami/2024/10/16/miami-dade-county-weekly-condo-report-36/
Published: October 16, 2024 14:40
Miami-Dade County’s average condo sale price surged last week, while the total number of condos sold fell. Brokers closed 83 condo sales totaling $77.8 million from Oct. 7th to Oct. 14th. The previous week, brokers closed 120 condo sales totaling $75…
Judge hits Tzadik CEO Adam Hendry and affiliates with $10.6M judgment over nationwide multifamily sales
https://therealdeal.com/miami/2024/10/15/alex-arguelles-wins-10-6m-suit-against-tzadik-adam-hendry/
Published: October 15, 2024 21:13
A judge hit Adam Hendry, CEO of multifamily real estate firm Tzadik Management, and affiliated entities with a $10.6 million final judgment tied to sales of apartment portfolios across the U.S.  The outcome marks the latest in the dispute between Hendry…
Discount shopping: Easton nabs JCPenney store at Miami International Mall
https://therealdeal.com/miami/2024/10/15/easton-buys-jcpenney-store-at-miami-international-mall/
Published: October 15, 2024 20:30
Easton Group bought a JCPenney store at Miami International Mall, and the struggling retailer will stay on as the tenant. Ed Easton, chairman of his Doral-based eponymous firm, told The Real Deal that he has no immediate plans to redevelop the 10.3-acre…
Price revealed: David and Victoria Beckham pay record $72M for waterfront Miami Beach spec mansion
https://therealdeal.com/miami/2024/10/15/david-victoria-beckham-buy-waterfront-miami-beach-mansion/
Published: October 15, 2024 18:30
David and Victoria Beckham paid $72.3 million for a waterfront spec mansion in Miami Beach, setting a record for the city’s North Bay Road. Retired soccer champion David Beckham, co-owner of the Major League Soccer team Inter Miami, and Victoria, a…
Who’s on stage at TRD’s annual South Florida Forum, Nov. 6-7
https://therealdeal.com/miami/2024/10/15/the-real-deals-2024-south-florida-forum-agenda/
Published: October 15, 2024 15:30
The Miami market can’t decide whether to sink or swim. Despite lagging condo sales and increasing office foreclosures, the city’s luxury resi segment continues to set new records. But where challenges exist, so do opportunities. And that makes it an…
Investor and metals boss buys Bear’s Club mansion in Jupiter for $18M
https://therealdeal.com/miami/2024/10/15/investor-buys-bears-club-mansion-in-jupiter-for-18m/
Published: October 15, 2024 14:30
Investor and metals executive Daniel Rifkin dropped $17.7 million on a Bear’s Club mansion in Jupiter in an off-market deal. Records show Rifkin bought the home at 232 Bear’s Club Drive from David Cohen and Jodee Seiders. Rifkin is managing partner of…
Mapping the five proposed Live Local Act projects in Miami’s Wynwood
https://therealdeal.com/miami/2024/10/15/mapping-proposed-live-local-act-projects-in-miamis-wynwood/
Published: October 15, 2024 13:45
On the corner of Northwest Sixth Avenue and Northwest 26th Street in Miami’s Wynwood, a developer wants to replace the one-story Austin Burke menswear store with an apartment tower of up to 20 stories. The project would jut out above the surrounding…
Lender seeks $13M foreclosure against Hollywood warehouse owner
https://therealdeal.com/miami/2024/10/14/woodforest-seeks-13m-foreclosure-of-hollywood-warehouse/
Published: October 14, 2024 21:00
A Hollywood warehouse owner is in danger of losing the building to foreclosure. Nearly a dozen entities managed by David Frank in Miami allegedly failed to repay a $1.8 million loan and a $10.8 revolving line of credit secured by a single-story,…
MG Developer’s pipeline grows after landing $15M for Coral Gables condo project
https://therealdeal.com/miami/2024/10/14/mg-developer-lands-15m-loan-for-coral-gables-project/
Published: October 14, 2024 19:35
MG Developer nabbed a $14.5 million loan for pre-development costs associated with a planned Coral Gables boutique condominium project. Three New Tork-based lenders, H Equities, 141 Funding and Maxim Capital Group, provided the financing for Alhambra Parc,…
Buyer revealed: Kushner purchasing Hamilton apartment tower in Miami’s Edgewater for $190M
https://therealdeal.com/miami/2024/10/14/kushner-buying-miami-apartments-from-aimco-for-190m/
Published: October 14, 2024 17:40
Aimco is selling the bayfront Hamilton apartment tower in Miami’s Edgewater to Kushner Companies, The Real Deal has learned. Denver-based Aimco, led by CEO Wes Powell, previously announced it’s under contract to sell the 28-story, 276-unit Hamilton at 555…
Oceana Bal Harbour developer finds buyer for $24M penthouse
https://therealdeal.com/miami/2024/10/14/oceana-bal-harbour-developer-finds-buyer-for-24m-penthouse/
Published: October 14, 2024 16:34
Oceana Bal Harbour developer Eduardo Costantini found a buyer for a penthouse that’s asking $23.5 million, topping last week’s residential signed contracts report in Miami-Dade County. An affiliate of Costantini’s Consultatio USA owns the…
Lease roundup: Acore, Trinity opening Coconut Grove offices; Daymond John sets up Wynwood outpost
https://therealdeal.com/miami/2024/10/14/comras-related-ross-rb-elliott-investment-nab-tenants/
Published: October 14, 2024 14:30
Acore Capital, Trinity Investments | Coconut Grove | Miami Acore Capital and Trinity Investments will open offices in Miami’s Coconut Grove, marking their continued investment in South Florida. Acore leased 4,000 square feet, and Trinity leased 3,000…
HTG teams up with Alonzo Mourning’s nonprofit on Overtown affordable housing project
https://therealdeal.com/miami/2024/10/14/htg-alonzo-mourning-plan-overtown-affordable-housing/
Published: October 14, 2024 13:45
Housing Trust Group and NBA Hall of Famer Alonzo Mourning’s nonprofit plan a 120-unit affordable housing project in Overtown, as development of below-market rate rentals booms in South Florida. Coconut Grove-based Housing Trust Group and AM Affordable…