Sabet and Evolve’s proposed projects in Miami’s Wynwood Norte and near Edgewater get green light

Miami architect Kobi Karp pulled off a double play, scoring a green light on designs for a pair of apartment projects near Edgewater and Wynwood Norte. On Wednesday, the Miami Urban Development Review Board approved 1600 Edgewater, Sabet Group’s 33-story tower with 282 apartments, as well as Evolve Companies’ Evolve Wynwood 35, an eight-story building…

2600 Biscayne Continues Vertical Ascent Towards 41-Story Apex in Edgewater

Construction continues to rise on 2600 Biscayne, a 41-story mixed-use tower at 2626 Biscayne Boulevard and 246 NE 26th Terrace in Edgewater, Miami. Designed by the globally-renowned architecture firm Arquitectonica with interior design by Vida Design and developed by Oak Row Equities, the 521-foot-tall structure will comprise over 900,000 square feet of space.

Construction to Start on ‘ENSO’ at 3025 SW 3rd Avenue in Miami

Florida YIMBY has an update regarding a mixed-use development we first covered in July 2021. Our initial report indicated that the then-named Ambienta Brickell would comprise 79 residences, ground-floor retail, and office space, but plans have since changed. The community is now named ENSO, and while it’ll still measure eight stories, it’ll instead offer 85 residences and ground-floor retail.

Ivan Herrera’s Unicapital pays $72M for late Sergio Pino’s apartment building

Insurance mogul Ivan Herrera’s family office acquired a Miami apartment building for $71.5 million that was developed by the late Sergio Pino. The sale of 850 Living, an eight-story multifamily project with 230 units at 811 Northwest 43rd Avenue, resolves the disposition of another key property among Pino’s numerous assets that his widow, Tatiana Pino, and her brother-in-law…

Construction Reaches Residential Levels On 80-Story Cipriani Residences Miami in Brickell

Construction is steadily advancing on Cipriani Residences Miami, an 80-story residential skyscraper at 1420 South Miami Avenue in Brickell. Designed by Arquitectonica with Thornton Tomasetti as the structural engineer and interiors by 1508 London, and developed by Mast Capital, the 940-foot-tall structure will span over 1.2 million square feet and house 397 condominium…

Aventura mixed-use project engulfed in legal turmoil faces foreclosure

The owner of a recently completed, yet troubled, Aventura mixed-use project is facing foreclosure after allegedly defaulting on $49.6 million mortgage debt. An affiliate of Las Vegas-based Dornin Investment Group last week sued Medical District Developments, managed by Felix Martinez Jansen in Aventura, which owns 1212 Aventura at 21290 Biscayne Boulevard.

14 ROC Moves to Contracts, Completion Planned In 2027

The 14 ROC tower planned near downtown Miami’s Adrienne Arsht Performing Arts Center is moving to the contract phase ahead of construction. There has been “robust sales momentum,” since sales launched last July, with 20% of units already sold, according to the developer. “Converting reservations to contracts represents a pivotal achievement in 14 ROC’s development…

Wynwood Haus Now 96% Leased, Less Than A Year After Opening

Renters have been flocking to the 20-story Wynwood Haus since it opened less than a year ago, according to its developers. The building is now 96% occupied, and has achieved stabilization. Black Salmon and LD&D in joint venture with IGEQ are the developers. “Over the past 12 months, Wynwood Haus has outperformed the market and expectations—surpassing average occupancy…

Developers Announce Plans To Build Ultra-Luxury Casa Cipriani Miami

Developer have announced plans to build a Casa Cipriani tower in Miami Beach. Casa Cipriani brand currently has locations in Milan and New York. The brand is led by the Cipriani family and traces its roots to the landmark Harry’s Bar in Venice, which opened in 1931 and is now a National Landmark. Casa Cipriani Miami will include a 40-key all-suites hotel, a private members club…

Cipriani, 13th Floor and Midtown Equities plan oceanfront tower in Miami Beach

The Cipriani family is jumping into another branded condo development in South Florida. Cipriani and developers 13th Floor Investments and Midtown Equities revealed plans for Casa Cipriani, a 40-key hotel, private members club and 17-story, 23-unit luxury condo tower in Miami Beach. The project, called Casa Cipriani Miami, is planned for the oceanfront property at 3611 Collins…

Photo: Cranes Removed From Topped-Off 40-Story Miami’s 501 First Tower

The cranes have been removed from downtown Miami’s 501 First tower, as it moves closer to completion. The 40-story tower is being built without a parking garage. It will include 448 residential condos allowing short-term rentals, along with 3,198 square feet of retail. A groundbreaking ceremony was held in December 2022, and the tower topped off just 18 months later.

Florida Memorial University plans $1B+ revamp with Redwood Dev Co

Florida Memorial University is working with Redwood Dev Co on the first phase of a redevelopment of the Miami Gardens campus, The Real Deal has learned. FMU, a historically Black university, tapped Redwood as the lead developer on the 52.6-acre project, according to FMU’s Interim President William McCormick and David Burstyn, principal of Miami-based Redwood Dev Co.

Omni area getting 33-story 282-unit residential tower

A developer plans a new mixed-use mixed-income residential tower for the Omni neighborhood of Miami, a few blocks from the School Board Metromover Station. 1600 NE 2nd Avenue LLC is the owner-developer of property at Northeast 16th Street and Northeast Second Avenue. Plans include a 33-story tower with 282 multi-family residential units, 10,000 square feet…

First Phase of Mercedes-Benz Places Goes Vertical in Brickell

Formwork is now rising above ground at Mercedes-Benz Places in Miami, marking the start of vertical construction on the first of two interconnected towers at 1 Southside Park in Brickell. Developed by JDS Development Group in collaboration with Mercedes-Benz, the mixed-use complex is designed by SHoP Architects, with ODP Architecture & Design as the architect of record.

RUDG Seeks Approval for 19-Story Workforce Housing Development at 1175 NW South River Drive in Miami

Related Urban Development Group (RUDG), the affordable housing branch of the Related Group, is seeking approval for a 19-story mixed-use building. Gallery at Riverwalk would comprise 236 apartments. The venture would offer workforce housing, and affordable housing units for those earning up to 80 percent of the area median income (AMI). Records report that Miami-Dade’s…

Miami Administrative Building at Miami Freedom Par Gets Utilities; First Look Inside

The City of Miami has signed a deal with Miami-Dade to connect its new administrative building to the county’s water and sewer system. The new 8-story city administrative building is currently being constructed at Miami Freedom Park, which will also be home to Inter Miami’s soccer stadium. Groundbreaking for the office building took place in mid-January.

700+ Foot Cranes Filed For Villa Residences Construction Site In Edgewater

Plans have been filed for two construction cranes at the Villa Miami Residences site in Edgewater. The 56-story Villa Residences tower broke ground in December, with construction now underway at the site. On March 20, plans were submitted to the Federal Aviation Administration for the two cranes. One crane is planned to rise 754 feet above ground, while the second…

Two Miami-Dade Cities Buying Up Commercial Property

Two Miami-Dade cities are taking advantage of the real estate slump by buying up commercial properties, planning to use the sites for parks, senior housing and other community purposes. Miami Gardens — the county’s third-largest city — has made several deals in the past year. “We’re 95% built out, and you just can’t find vacant land here,” City Manager Danny O. Crew says.

Photos: Under-Construction Casa Bella Residences Near Level 40

The Casa Bella Residences by B&B Italia tower is now around level 40 of construction, new photos show. The tower is planned to top off at 56 stories this summer. Groundbreaking took place in November 2023, with a foundation pour in May 2024. Casa Bella Residences by B&B Italia is planned to include 319 condos, along with amenities, including a 56th floor rooftop pool and terrace.

Drainage Construction Permit Applied For At 800-Room Grand Hyatt Miami Beach

The developers planning to build the new Grand Hyatt convention center hotel in Miami Beach have applied for a drainage system construction permit. The Class VI Permit application was submitted to Miami-Dade last week. It calls for construction of six interconnected drainage wells and related systems, at an estimated cost of $500,000. Balfour Beatty is listed as the contractor.

Aria Reserve North Tower Surpasses Halfway Mark In Edgewater

Construction has surpassed the halfway mark on the North Tower at Aria Reserve, the second skyscraper in Melo Group’s twin-tower luxury condominium development located at 725 NE 24th Street in Edgewater, Miami. Designed by Arquitectonica, with interiors by MORADA Haute Furniture Boutique and landscaping by ArquitectonicaGEO, the waterfront high-rise is planned…

Constellation, partners score $42M construction loan for North Beach condos

Constellation Group, Boschetti Group and Vietmar scored a $42.3 million construction loan for their planned North Beach condo project. Ella Miami Beach, a 10-story, 103-unit short-term rental-friendly condo building planned for 6940 Abbott Avenue in Miami Beach, is more than 50 percent presold, according to a press release. The developers landed the three-year…

‘Hideaways by the Bay’ to Offer Residency for Unhoused Individuals at 10821 Caribbean Blvd. in Cutler Bay

Miami-Dade County has plans to redevelop a shuttered La Quinta Inn into “Hideaways by the Bay,” a community that would offer long-term accommodations for homeless individuals. The effort will involve updating the hotel’s 107 rooms into those that can serve as residences for those struggling with housing insecurity. Each unit features its own bathroom, and planners intend…

Casa Bella Residences by B&B Italia Reaches Upper Floors in Miami’s Arts & Entertainment District

Construction has reached the upper floors at Casa Bella Residences by B&B Italia, a 56-story condominium tower rising at 1400 Biscayne Boulevard in Downtown Miami. Developed by Related Group and Alta Developers, with Arquitectonica as the architect, Piero Lissoni handling interior design, and Enzo Enea overseeing landscaping, the tower steadily advances toward…

Miami World Tower 1 Completes Construction, Rising 53-Stories in Downtown Miami

Miami World Tower 1, the first phase of the Miami World Towers development at Miami Worldcenter, officially opened at the end of 2024, introducing 560 rental units to Downtown Miami. Standing 579 feet tall and comprising 53 stories, the tower enhances the city’s skyline with its sleek and modern design. It features a fully glazed façade and a unique arrangement of balconies…

One Park Tower by Turnberry Tops Out at 33 Stories in North Miami’s SoLé Mia District

One Park Tower by Turnberry has officially topped off at 33 stories, marking a significant milestone for the residential development within SoLé Mia, a 184-acre master-planned community in North Miami. Developed by Turnberry and LeFrak, the tower is set to bring 303 luxury residences to the northern edge of the seven-acre Crystal Lagoon known as Laguna Solé….

Nine-Story Residential Tower VIDA Residences Progresses at 410 NE 35th Terrace in Miami

Florida YIMBY has an update regarding a mid-rise building we first covered in April 2023. Our sources share that the final deck of VIDA Residences has been poured, indicating that that the project is moving forward with its scheduled 2026 completion. At full buildout, the nine-story building will feature 121 fully furnished units, spanning studio to four-bedroom models.

Miami-Dade housing chief Alex Ballina leaving to start own firm

Miami-Dade’s housing czar Alex Ballina is leaving his government post to cash in on demand for affordable and workforce developments across the Sunshine State, The Real Deal has learned. He recently formed Florida Development Building Group, or FDBG, a firm that will use “data driven insights and data-backed strategies to focus on projects for essential workers in underserved…

Google funds Miami’s AI experiment with automatic zoning verification letters

A $250,000 donation from Google is funding a three-month pilot program using artificial intelligence to automate zoning verification letters while the City of Miami explores broader uses of the technology to optimize municipal services. The city commission approved a March 13 resolution from Mayor Francis Suarez accepting the donation from Google to utilize its C3…

Slate Hallandale Beach Secures $225 Million Refinancing in Hallandale Beach

PPG Development and BH3 Management have announced the successful refinancing of Slate Hallandale Beach, a 26-story luxury residential tower completed in 2022. J.P. Morgan and Monroe Capital provided the $225 million loan, which supports the continued stabilization and operation of the 250-unit property. Faisal Ashraf of Lotus Capital Partners…

BH, Prime score approval for Hallandale Beach hotel project

BH Group and Prime Group can charge ahead with plans for a Homewood Suites By Hilton hotel near Gulfstream Park, as South Florida’s hospitality sector expects growing demand this year. On Wednesday, the Hallandale Beach City Commission by a unanimous 7-0 vote approved a site plan for the joint venture’s 15-story project with 246 rooms and 281 parking spaces…

Affiliated lands $80M construction loan for Fort Lauderdale multifamily project

Affiliated Development is the latest South Florida developer to nab construction financing for an apartment project, despite a slowing multifamily market. Fort Lauderdale-based Affiliated, led by CEO Jeffrey Burns, secured an $80 million loan from Bank of Montreal to build The Era, a planned eight-story building with 400 apartments in the firm’s home city, records show.

Oak Lane advances 243-unit Live Local Act multifamily development next to its Boca Raton HQ

Oak Lane Partners plans to develop a 243-unit Live Local Act project next to its headquarters in Boca Raton, and is seeking streamlined approval under the state’s affordable housing law. Oak Lane, led by founder and managing partner Bhavin Shah, plans 226 apartments and 17 townhouses next to an office building that houses its headquarters in Boca Raton’s…

Principal Asset Management Sells 204,000 SF Pinewood Square Shopping Center in Lake Worth

Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. Situated on the southeast corner of Lantana and Jog roads, the property was 99 percent leased at the time of sale to 42 tenants including T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray…

Acadia dives back into South Florida with $68M Lake Worth Beach retail purchase

Nearly a decade after selling its interest in a large Miami Beach retail portfolio, Acadia Realty Trust is back in South Florida, acquiring a Palm Beach County shopping center for $68 million. An affiliate of Rey, New York-based Acadia, led by CEO Kenneth Bernstein, purchased Pinewood Square, a 96,586-square-foot center and six outparcels spanning 24,279 square feet at 6330 Lantana…

SROA Capital adds 12th facility to South Florida portfolio with $17M West Palm Beach site purchase

SROA Capital picked up its 12th South Florida self-storage facility for $17.1 million, 205 times more than the previous sale price nearly a half-century ago. An affiliate of SROA Capital, a West Palm Beach real estate investment firm that owns self-storage company Storage Rentals of America, bought a complex of 18 single-story warehouses at 1547 North Florida Mango Road…

Southeast Industrial Boom Driven By Population Growth And Strategic Infrastructure

Southeast Industrial Boom Driven by Population Growth and Strategic Infrastructure The Southeast United States has successfully attracted industrial occupiers and investors, driven by ongoing population growth, low costs, strategic infrastructure access, and a favorable business operation environment. Industrial vacancy rates remain below pre-pandemic averages, and rental rates…

Video: MSCI Research Executive Director Jim Costello Provides Retail Market Update & Forecast

In a recent episode of America’s Commercial Real Estate Show, the show’s host sat down with veteran economist Jim Costello of MSCI to explore the latest trends, challenges, and opportunities in the U.S. retail real estate sector. With over 30 years of experience analyzing market cycles, Costello provided valuable insights into how retail is faring in the wake of shifting…

The Byproducts of Eliminating Property Taxes

Eliminating property taxes for homeowners isn’t a concept I’ve heard often. Given Florida’s history as a pro-growth state that consistently seeks to improve its economic appeal, it’s not entirely shocking that such a bold proposal would surface there. What did surprise me, however, is that this tax cut would come in addition to Florida already not having a state income tax.

Strong Job Gains Meets High Apartment Supply Across Florida

Job growth has been significant across the state of Florida in the current cycle, which would typically lead to solid apartment occupancy and rent growth. But apartment performance in the Sunshine State has been subdued by staggering new supply volumes. Florida added 950,000 jobs in the 2020–2024-time frame, according to data from the Bureau of Labor Statistics.

The Fed: an update on the breakeven inflation rate

Expectations about inflation are an important indicator of actual future inflation: If market participants expect inflation to be higher, they may elevate prices, increasing the actual inflation rate and creating a self-fulfilling prophecy. In this FRED Blog post, we compare “breakeven” inflation expectations with actual inflation to see how they’ve both evolved over time.

First Tower Of 800+ Unit Project Proposed In Health District

Related Urban has submitted a Zoning Verification Letter to Miami-Dade planners for a property in Miami’s Health District. The project name for the proposed development is listed as Gallery at Wagner Creek. Gallery at Wagner Creek’s North Tower is proposed to rise 27 stories. It is proposed to include 460 residential units, 354 parking spaces, and a 7th level amenity deck.

Sabet and Evolve’s proposed projects in Miami’s Wynwood Norte and near Edgewater get green light

Miami architect Kobi Karp pulled off a double play, scoring a green light on designs for a pair of apartment projects near Edgewater and Wynwood Norte. On Wednesday, the Miami Urban Development Review Board approved 1600 Edgewater, Sabet Group’s 33-story tower with 282 apartments, as well as Evolve Companies’ Evolve Wynwood 35, an eight-story building…

Developers Plan 2,400 Apartments On Biscayne Boulevard

A massive apartment complex is being planned on Biscayne Boulevard, according to The Real Deal. The development will have over 2,380 apartments, a school, and commercial space, the report said. Israeli company Canada Global is said to be partnering with Adam Neumann’s Flow on the development. The 16-acre El Portal property was formerly a trailer park, and is now vacant.

Baron scores $206M construction loan for 661-unit apartment project in Hialeah

Baron Property Group scored a $206 million construction loan for the Metro Parc North apartment project in Hialeah. The New York-based firm is building the eight-story building with 661 units at 901 East 26th Street, according to a Baron news release. Construction started last month, and is expected to be completed in late 2027. Stamford, Connecticut-based Post Road Group is the lender…

Baron Property Group Secures $206M for Florida Project

Baron Property Group has secured $206 million in construction financing from Post Road Group to help transform Hialeah, Fla., with a new transit-oriented residential property. Developers broke ground on the project, Metro Parc North, last month, with completion expected in late 2027. Metro Parc North will offer 661 homes ranging from studios to three-bedrooms.

Facade Work Progresses on The First of the ‘222’ Namdar Towers in Downtown Miami

Facade work is making significant progress on the first of two 43-story towers at 222 NE 1st Avenue in Downtown Miami, known as Namdar Towers or simply “222.” Developed by New York-based Namdar Group, the project will encompass approximately 1.3 million square feet, integrating residential, commercial, and parking components. Designed by Behar Font & Partners…

Miami Beach commission grants initial approval of Deauville redevelopment

Miami Beach commissioners approved land use changes that will allow the Meruelo family and David Martin’s Terra to build a larger project on the oceanfront property that was previously home to the Deauville Beach Resort. The commission on Wednesday evening voted six to 1, with commissioner David Suarez casting the sole ‘no’ vote, on first reading to approve two amendments…

Summit Brickell Enters Construction Permitting

The 65-story tower known as Summit Brickell has entered the construction permitting phase. The permit application was submitted to Miami-Dade County in late February, with review now underway. Turner Construction is listed as the contractor. Zoning review of the tower was completed by Miami-Dade late last year. Summit Brickell is planned to include 505 residential units…

Map: Here are South Florida’s canceled or delayed office projects

In recent years, South Florida’s office market appeared resilient to financial woes experienced elsewhere in the U.S. Major companies leased across the tri-county region, making brokers giddy. Developers announced plans for new South Florida office projects, offering flashy renderings. Yet by now, some of these projects are canceled or paused. The progress and success of others…

Botched $11M land deal costs city of Doral nearly double the price six years later

Six years after allegedly trashing a vacant property it intended to buy for $10.7 million, the city of Doral will pay the landowner nearly double the originally agreed purchase price. On Wednesday, the Doral City Council approved a settlement agreement that will pay Doral 10, an entity managed by Lizbeth Arencibia of Hialeah Gardens, $21 million to drop a 2019 civil lawsuit…

Miami-Dade Office Vacancy Among Nation’s Lowest

The office market in Miami-Dade is among the strongest in the nation, according to a new report by Marcus & Millichap. “Miami’s office market continues to outperform, with one of the lowest vacancy rates in the nation and sustained investor interest in both urban and suburban submarkets. Strong pre-leasing activity and an expanding knowledge-based economy…

Developer Vivian Dimond to revive stalled waterfront North Bay Village condo project

Developer Vivian Dimond took over the stalled condo building in North Bay Village, a 15-story shell on Harbor Island, The Real Deal has learned. The planned 54-unit building at 7918 West Drive will now be called Tula Residences. Dimond’s Bayshore Grove Capital is now the sole managing member of the LLC that owns the property, she said. Malaysian developer Pacific & Orient…

Signage Installed At Edgewater Whole Foods, Opening Date Coming Soon

Signage for Edgewater’s new Whole Foods Market has been installed, as construction on the new store continues. An opening date for the store will be announced soon, a broker involved in the lease of the store said. Whole Foods is building out 50,812 square feet of space at the ground floor of the new Forma tower. By comparison, the existing downtown Miami Whole Foods…

Photo: Demolition Activity At Brickell’s Santander Tower Site

Demolition activity can be seen at the Brickell Avenue site were Santander Bank is planning a landmark tower. The new 40-story tower is planned to rise 765 feet, with a design by Handel Architects and Bernardi & Peschard Arquitectura. It will include 612,918 square feet of Class A office space, and 1,496 parking spaces. There will also be 107,953 square feet of food and beverage…

Construction Cranes Installed To Build 58-Story Downtown Miami Tower

Multiple construction cranes have now been installed at the Downtown 6 site. Downtown 6 is a massive apartment tower under development by Melo Group. It will rise 58 stories upon completion. The tower will have 824 apartments, 2,247 square feet of retail, and 639 parking spaces. Melo also built the two 52-story Downtown 5 towers seen in the background…

606-Unit Worldcenter Tower Reaches Level Ten Of Construction

Contractors have now completed ten floors at the 600 Miami Worldcenter tower, about a year after groundbreaking. The groundbreaking ceremony for the tower took place last year in mid-March, with vertical construction beginning around six months later. By December, the third floor of the tower had been poured. The tower is eventually planned to top off at 32 stories…

Lewis Swezy plans age-restricted low-income apartment project in Miami-Dade, as developers target affordable housing

Affordable housing developer Lewis Swezy plans an 80-unit age-restricted apartment project near the Earlington Heights Metrorail stop in Miami-Dade County. Swezy, through his Miami Lakes-based Centennial Management, wants to develop the six-story building with 60 one-bedroom apartments and 20 two-bedroom apartments on a 0.7-acre site at 4052 Northwest 22nd Avenue…

Okan Towers Ascent Continues at 555 North Miami Avenue in Downtown Miami

Construction continues to climb at Okan Tower, a 70-story mixed-use skyscraper at 555 North Miami Avenue in Downtown Miami. Designed by Behar Font & Partners with Thornton Tomasetti as the structural engineer and Ortus Engineering as the civil engineer, and developed by Okan Group, the 902-foot-tall tower will feature 163 luxury residences, 236 condo-hotel…

More South Florida distress: Brickell commercial condo owner’s bankruptcy filing delays foreclosure sale

A disgraced Venezuelan ex-banker identified in the Panama Papers joins a growing number of South Florida commercial real estate owners feeling the pinch of distress. An entity managed by Eligio Cedeño in Coral Gables filed for Chapter 11 reorganization in Miami federal bankruptcy court on Saturday, two days before its four commercial units at Brickell House condominium…

University of Miami plans major campus

University of Miami’s Coral Gables campus is on track to complete a large residential project in 2026 and continues to work on more capital improvement projects. Centennial Village is to be a first-year experience for students, said Jessica Brumley, vice president of facilities, operations, and planning. “The majority of our freshman students would live in the Centennial Village…

Brazilian billionaire’s firm completes dev site purchase for first Coral Gables condo project

Multiplan Real Estate Asset Management completed an assemblage for its first condo development in Coral Gables, The Real Deal has learned. Brazilian billionaire Jose Isaac Peres’ firm, led by managing partner Marcelo Kingston, paid $17.8 million for the second half of the assemblage, an office building at 1501 Venera Avenue, Kingston told TRD. Mutiplan acquired the first piece…

Adam Neumann’s Flow nabs $51M loan for $71M El Portal site purchase, partners with Canada Global on mixed-use development

Adam Neumann’s Flow nabbed a $51 million acquisition loan and is partnering with Canada Global for a planned mixed-use project on an El Portal development site. New York-based Ladder Capital provided the mortgage to a Delaware entity with ties to Flow that paid $71.5 million for a 16-acre former trailer park at 8500 Biscayne Boulevard, records show. Canada Global…

Miami International Airport pivoting stores to dining

Miami International Airport, in the midst of $9 billion in physical growth, is on the runway to also revamp the stores and dining that passengers can choose from in an upgrade that will markedly swing the mix from mostly shopping to nearly two-thirds food and beverage. While reworking terminals is slow, most food and shopping concessions will vastly alter within three years…

Habitus scores approval for 61-key hotel in Miami’s Edgewater, ramping up its South Florida hospitality investment

Habitus Capital scored approval for a 61-key boutique hotel in Miami’s Edgewater, marking the firm’s continued investment in South Florida’s hospitality market. Brickell-based Habitus plans the eight-story building on a 0.2-acre lot at 459 Northeast 25th Street with 20 on-site parking spaces and two street parking spaces, according to a Miami City Commission agenda item.

Homestead gears first strategic plan as roadmap to future

The City of Homestead is undertaking steps to develop its first-ever strategic development plan, following a major push from City Manager Zerry Ihekwaba. “It was part of the vision and mission statement to have a clear concept of what are we looking at for the future. What exactly are we looking to accomplish?” asked Dr. Ihekwaba. “Upon my assumption of office, I realized…”

Trinity leading development of JMH’s former condo project near Faena District

Bill and Dana Lozito’s Trinity Southern is taking over development of a long-planned luxury condo project in Miami Beach called 29 Indian Creek, The Real Deal has learned. Developer Jason Halpern’s JMH Development will remain an investor-partner and adviser on the planned 22-unit development at 2901 and 2911 Indian Creek Drive, near the Faena District, Bill Lozito said.

Construction Rises Higher on the 100-Story Waldorf Astoria Hotel & Residences in Downtown Miami

Construction is rising higher on the Waldorf Astoria Hotel & Residences Miami, a 100-story supertall mixed-use skyscraper at 300 Biscayne Boulevard in Downtown Miami. Designed by Sieger Suarez Architects in collaboration with Carlos Ott and developed by Property Markets Group (PMG) and Greybrook Realty Partners, alongside Mohari Hospitality, S2 Development, and Hilton…

Shoma sheds another property, sells Hialeah project to IMC for $81M

For the second time in less than a month, Shoma Group’s commercial portfolio got lighter — along with its overall debt. The Coral Gables-based firm, led by power couple Masoud Shoajee and Stephanie Shojaee, sold a fairly new Hialeah mixed-use project to Yoram Izhak’s North Miami-based IMC Equity Group, records and real estate database Vizzda show.

Waldorf Astoria Supertall Reaches Level 19

Developer PMG says that the Waldorf Astoria Hotel & Residences Miami has reached a new construction milestone. Level 19 of the tower’s shell has now been poured, and contractors have begun pouring the building’s pool level. Contractors are also now installing the glass facade in the building’s first cube (there will be nine cubes in total). Once the pool level has been poured…

Tourmaline pays $76M for Coral Gables office complex facing foreclosure

A year into Coral Gables’ Columbus Center’s debt woes, Tourmaline Capital Partners paid $76 million for the property facing foreclosure. Bryn Mawr, Pennsylvania-based Tourmaline bought the office complex consisting of a 14-story building and an eight-story building on a 2.5-acre site at 1 Alhambra Plaza, according to records and real estate database Vizzda.

Developer Of 848 Brickell Agrees To Public Benefits Contributions

The developer planning an office tower at 848 Brickell Avenue has agreed to public benefits contributions as a condition for obtaining development approval. The contributions will include: $2m towards the 10st Street Metromover Station, to be used at the county discretion for repairs, maintenance, and improvements Pedestrian improvements surrounding the development…

Photo: 44 & 45-Story Towers Rising In Brickell

Two towers are rising in Brickell, a new photo shows. One of the tower is the 44-story Lofty Brickell, which is planned to include 364 residential units allowing short-term rentals. The second tower will be the 45-story Standard Residences, which will have 422 condo units, a 45th floor rooftop lounge, amenities, and a restaurant. The towers will be be connected by a podium.

33-Story 1600 Edgewater Tower Proposed in Miami, Set for UDRB Review on March 19

Plans have been submitted to Miami’s Urban Development Review Board for 1600 Edgewater, a 33-story mixed-use tower proposed at the former Miami Cash Register site at 1600 NE 2nd Avenue. Designed by Kobi Karp Architecture & Interior Design, the project aims to integrate elements reflective of Biscayne Bay, Wynwood, and Miami’s evolving skyline, according to…

Okan Group Unveils New Hilton Residences Miami Bayfront

Okan Group, in partnership with Hilton (NYSE: HLT), has unveiled the first look at Hilton Residences Miami Bayfront, a new collection of residences offering modern, high-rise living in downtown Miami. With prices starting at $685,000, the homes bring additional housing options to a growing urban center while incorporating world-class hospitality and amenities….

‘Season One Brickell’ Planned for 1200 SW 2nd Avenue in Miami

Developers Habitat Group and BI Group are one step closer to making One Season Brickell a reality. Miami Dade’s Water & Sewer Department recently agreed to provide utilities to the pre-construction high-rise. Plans call for 88 residences in a 22-story tower, including studio to three-bedroom models; homes would span 432 to 1,017 square feet. Homes would come outfitted…

33-Story Edgewater Tower Revealed For The First Time

Plans for a 33-story tower have been revealed for the first time in a filing to Miami’s Urban Development Review Board. The building is named 1600 Edgewater, according to a letter to board members from an architect at Kobi Karp Architecture & Interior Design, the firm designing the building. “This building aspires to be more than just a physical structure; it is a celebration…

Plans Submitted For 141 Residential Units In Wynwood

Plans have just been revealed for another residential project in the Wynwood Norte area. The project name is listed as either 35th Wynwood or Evolve Wynwood 35 in documents and plans submitted to Miami’s Urban Development Review Board. Evolve Wynwood 35 is planned to rise 8 stories and include: 141 residential units 202 on-site parking spaces Parking will be located…

Update Provided On 55-Story Legacy Miami Worldcenter

The developer of the 55-story Legacy Miami Worldcenter tower has provided an update on a construction halt, according to the SFBJ. The developer expected to remobilize construction in around five to six weeks, the report said. Construction has been halted since 2024. A foundation pour for the tower took place in 2022, with a crane installed in early 2023. After the halt…

Miami Multifamily Real Estate Report – Q4 2024

Market Snapshot for Miami Multifamily Real Estate We’ve compiled key statistics (vacancy rates, absorption rates, and rental rates) and property transactions for Miami multifamily real estate in this report. The Miami multifamily report is updated quarterly by our commercial real estate professionals. We also want to cover the bigger picture and provide some information about…

Lease roundup: Call Me Gaby on tap on Miami River, Brightline’s MiamiCentral lands Brooklyn Dumpling Shop and five other tenants

Call Me Gaby, the Italian restaurant in Miami Beach’s South of Fifth neighborhood, will expand to the Miami River. Call Me Gaby owners Cathy and Anthony Arrighi, in partnership with restaurateur Roman Jones, will open the restaurant in a two-story, 8,500-square-foot building at 5 Southwest South River Drive in Miami, according to a news release from Call Me Gaby and Jones.

‘Parks at Davie’ Planned for 2027 Completion at Northwest Corner of Davie Road and Southwest 37th Street in Davie

With the security of a $67.5 million construction loan, two developers are one step closer to making their multi-family housing project a reality. That venture? Parks at Davie, a 383-unit apartment complex. The one-bedroom to three-bedroom homes will measure 568 to 1,415 square feet; in-unit amenities include stainless steel appliances, nine-foot-high ceilings, and quartz…

Construction Financing Secured for Apex Logistics Park at Signature Grand in Davie, FL

Altman Logistics Properties and FRP Development Corp. have secured $31.9 million in construction financing for Apex Logistics Park at Signature Grand, a two-building, 182,000-square-foot logistics development planned for Davie, Florida. The site, formerly home to the Signature Grand events and catering space, will undergo demolition in preparation for vertical construction…

13th Floor scores $68M construction loan for Davie rentals

13th Floor Investments and JSB Capital Group scored a $67.5 million construction loan for a 383-unit apartment complex near Broward College in Davie. Coconut Grove-based 13th Floor and Miami Beach-based JSB Capital plan the five-story Parks at Davie with some workforce apartments on the northwest corner of Davie Road and Southwest 37th Street, according to a 13th…

Developer Proposes Mixed-Use Venture for 228 SE 9th Street in Hallandale Beach

Hallandale Beach-based Grupo Eco intends to move forward with a mixed-use development in the area. The Web Center would replace two duplexes and a few single-family homes, offering residences, office space, and retail. Plans call for two structures: a four-story office building and a seven-story multi-family tower, both connected by a podium that would feature 9,350 square feet…

PPG, BH3 score $225M refi for Hallandale Beach apartment tower, as lending still flows in South Florida

PPG Development and BH3 Management scored a $225 million refinancing for the Slate Hallandale Beach apartment tower. The deal marks continued lending in South Florida, despite higher interest rates, slower apartment leasing and other economic headwinds. JP Morgan Chase and Monroe Capital provided the refinancing for the 26-story, 250-unit Slate…

Developers Secure $225 Million in Refinancing for 26-Story Slate Hallandale Beach Residential Tower

PPG Development and BH3 Management have secured a $225 million refinancing package for Slate Hallandale Beach, a 26-story residential tower completed in 2022. The financing, provided by J.P. Morgan and Monroe Capital, will support the continued operation of the 250-unit luxury development, which is positioned among Hallandale Beach’s premier residential…

Journey Capital buys multifamily complex in Plantation for $102M

Journey Capital scooped up a 404-unit multifamily complex in Plantation for $102 million. The New York-based investment manager bought Rise at Plantation Walk at 333 North University Drive from Boca Raton-based Encore Capital Management, according to records and real estate database Vizzda. The deal breaks down to $252,500 per unit. Journey borrowed $89.7M…

Miami Manager cuts fully leased Broward retail center from commercial portfolio

Miami Manager is left with three shopping centers in South Florida, after selling Village Shoppes of Coconut Creek for $21.3 million. An affiliate of Sunrise-based Miami Manager, led by Claudio and Milton Mekler, sold the two-building retail site at 4690 North State Road in Coconut Creek to an entity managed by Dayvana Milano and Lisette Hermoso in Coral Springs…

Publix picks up another of its South Florida stores for $25M

Publix is back at the South Florida retail checkout line, paying $25 million for one of its stores near Galleria Mall in Fort Lauderdale. Since last year, the Lakeland-based grocery chain has dropped $273 million for standalone Publix supermarkets and shopping centers anchored by its stores, including its latest purchase. An affiliate of Publix, led by CEO Kevin Murphy, acquired…

14-Story ‘Sereno Fort Lauderdale’ Planned for 2028 Completion at 2901 NE 9th Court in Fort Lauderdale

Two developers are moving forward with a high-rise multi-family development in Broward County. Sereno Fort Lauderdale will measure 14 stories above grade, requiring 230,000 square feet of new construction. Our sources indicate that the tower will host 76 “boutique residences,” with homes spanning one-bedroom to three-bedroom models. They will measure 1,080…

Integra launches sales for Sereno Fort Lauderdale condos

Integra Investments is launching sales for Sereno Fort Lauderdale, a condo project with prices starting at $1.4 million. The Miami-based developer is planning the 14-story, 76-unit condominium for 2901 Northeast 9th Court in Fort Lauderdale, according to a press release. It was originally planned as an 11-story, 54-unit condominium with a 12-story, 100-key hotel.

Triarch, partners buy Dania Beach’s Airport Commerce Park for $18M, amid a South Florida office market paradox

A group of investors bought Airport Commerce Park near Fort Lauderdale-Hollywood International Airport for $18.3 million. The deal comes amid a paradox for South Florida’s office market. While aging suburban buildings have traded at discounts and foreclosures have popped up, Broward County recently scored two office deals for over $200 million each. An entity managed…

TM Real Estate scores $54M construction loan for 250-unit Boynton Beach complex, amid South Florida multifamily supply overhang

A developer scored a $53.5 million construction loan for a 250-unit apartment complex in Boynton Beach, amid a multifamily supply overhang in South Florida. TM Real Estate Group plans the Shalimar at Boynton Beach project with 10 three-story and four-story buildings, a nearly 10,000-square-foot clubhouse and 4,300 square feet of retail in two additional buildings…

Harnessing Critical Mass: The Key to a Thriving Office Environment

The story of the office market is an epic tale filled with dramatic twists and turns, reminiscent of a cinematic thriller. As we delve into in the Moody’s docuseries, Work from Where: Building the Future of Work and Urban Life, obsolescence is a key theme in this narrative; however, it is not solely a consequence of the pandemic. Instead, it stems from longer, more subtle changes in how…

Fed Stays Put on Interest Rates, but Uncertainty Looms

The Federal Reserve Open Markets Committee elected to keep interest rates the same at the conclusion of its March meeting, at a target range of 4.25 to 4.5 percent. The current Federal funds rate has remained unchanged since last December. The decision follows consistent reports of a strong, yet slowing economy and even more uncertainty around inflation, particularly as it…

What’s in and what’s out five years after COVID-19 lockdowns began: commercial real estate edition

The COVID-19 pandemic’s onset set off a once-in-a-century exogenous macroeconomic shock has left lasting scars on commercial real estate (CRE). In this report, we explore the shifts that occurred across CRE after this historic disruption and its aftermath, from property tastes to geography to lifestyle to lending dynamics, and their impact on the asset class. Location, Location…

Property Tax & Extreme Weather Events: A Complicated Relationship

As extreme events contribute to the recent surge in P&C insurance premiums, some lenders have noted that there might be a knock on effect on property tax. Perhaps municipalities striving to rebuild from hurricanes or wildfires, or implement resilience projects to mitigate future risks, may raise property taxes to finance these initiatives.  Is this true? The answer is complicated…

Developer plans 163-unit Live Local Act project near West Little River, amid flurry of proposals under state law

A developer proposes a 163-unit Live Local Act multifamily project near West Little River, as the industry continues to seize on the state affordable housing law. Dan Ainuz, a residential real estate investor and developer, wants to build a 14-story building with 40 percent of the units, or 65 apartments, at below-market rents, according to an application Ainuz’s affiliate filed…

Lower Level Curves Now Visible At 80-Story Cipriani Tower In Brickell

Brickell’s 80-story Cipriani Residences Tower is continuing to take shape, new photos show. Cipriani is expected to become the tallest tower in Brickell when it tops off (there are other Brickell buildings planned to rise even taller, but they are not yet under construction). The Cipriani tower is planned to reach a near-supertall height of 940 feet above ground, or 950 feet…

No bid, no problem? Miami-Dade eyeing deal with Michael Swerdlow for workforce housing project

Miami-Dade officials could forgo competitive bidding to have developer Michael Swerdlow build a workforce housing project near a site he’s buying from the county for a planned Costco store. The unusual arrangement is part of a proposed county resolution to amend a pending sales contract for Swerdlow to pay Miami-Dade $8.1 million for 17 acres of county-owned vacant land…

Swerdlow proposes replacing Miami public housing complexes with 5,000-plus apartments with affordable, workforce units

Developer Michael Swerdlow wants to develop 5,730 multifamily units with some affordable and workforce apartments, replacing five public housing complexes across Miami. Coconut Grove-based Swerdlow Group’s project also will include 370,000 square feet of commercial space such as offices and a school; 250,000 square feet of open space and amenities…

Demolition Progress At Edgewater Site Where 635-Foot Tower Planned

Demolition now appears to be mostly complete at the Tower 36 site in Edgewater. Developer One Thousand Group is planning a 635-foot tower on the property. The developer closed on the purchase of the site in December, for a reported $53m. In January, a demolition permit for a former Shell gas station on the property was issued. The permit is still active as of this morning.

13th Floor, LeFrak and Related take over Shoma dev site in Miami

Shoma Group is abandoning plans to redevelop a shuttered car dealership, selling the 2.5-acre site for $35 million to a group that includes Richard LeFrak’s eponymous firm. An entity managed by Arnaud Karsenti, principal of Coconut Grove-based 13th Floor Investments, acquired the property at 3650 Bird Road, records and real estate database Vizzda show. 13th Floor partnered…

Fifield Cos. Welcomes First Residents to 266-Unit Avida Aventura

Fifield Cos. has opened Avida Aventura, a 266-unit luxury apartment community located at 19401 W. Dixie Highway in Aventura. The project sits steps away from the new Brightline station, with direct access to the Aventura Mall, the fifth-largest mall in the U.S. and one of Miami’s premier dining, retail, and entertainment hubs. “As the first upscale multifamily development…

“Out of scale”: Michael Stern’s and Gianluca Vacchi’s condo tower proposal shot down by Miami Beach board, now heads to commission vote

Michael Stern’s JDS Development Group and Gianluca Vacchi’s GV Development Group are heading to the Miami Beach City Commission next month with an unfavorable recommendation from the city’s planning board for their proposed tower. The developers are proposing a luxury condo project on the bay at 1250 West Avenue that would require legislative changes to the city’s future…

Construction Underway at Cassia, a 12-Story Condominium in Coral Gables’ Merrick Park District

Construction is now underway at Cassia, a 12-story condominium at 4011 Salzedo Avenue in Coral Gables’ Merrick Park District. Developed by Alta Developers, the project will introduce 174 fully furnished residences, with Behar Font & Partners as the design architect and IDDI overseeing interiors. Residences at Cassia will range from 662 to 1,461 square feet, offering one-, two-, and…

The HueHub Gets FAA Approval

The Federal Aviation Administration issued a letter this morning stating that the proposed height of a Live Local development is not a hazard to air navigation. The development is named The HueHub in the FAA application, and in plans filed with the county. The HueHub will have a permanent building height of 350 feet above ground…

24-Story Excel Miami Continues Rising

Excel Miami, a 24-story apartment complex under construction near the Arsht Center, is quickly rising. As of last week, construction of the building’s shell appears to have passed the podium garage levels, moving towards the typical residential floors. Shell construction tends to accelerate once buildings reach their typical residential floors. Excel will have 427 apartments…

Kolter, BH seek redevelopment approval for Miami Beach oceanfront site they listed for $110M

Kolter Group and BH Group are pursuing a redevelopment plan for an oceanfront hotel that the joint venture recently listed with a whisper price of $110 million. Delray Beach-based Kolter’s hospitality division and Aventura-based BH submitted a site plan application with the city of Miami Beach to tear down the Crystal Beach Suites Miami Oceanfront Resort at 6985 Collins Avenue…

FAA Approves 831-Foot Building Height In Downtown Miami

A proposal for a building in downtown Miami has been given the green light by the Federal Aviation Administration. A determination letter was sent by the agency on March 11 to Clear Communities Miami North & South, LP. The approved height is 831 feet above ground, or 840 feet above sea level. The project is located at 130 SE 1st Street, a description states. It is the same address…

174-Unit Cassia Breaks Ground In Coral Gables

A groundbreaking ceremony has taken place in Coral Gables for the Cassia condominium development. Cassia will rise 12 stories, and is being designed by architect Behar Font & Partners. The building will be located adjacent to Merrick Park. There will be 174 condos that will be delivered furnished. Units will have European appliances, RH furnishings, and Italian cabinetry…

Glass Installed At 138-Unit Vida Edgewater

Glass has been installed at Vida Residences, which is under construction in Edgewater. Vida Residences is planned to rise nine stories and include 138 condo units. The developer of the project obtained $38.5m in construction financing last year, according to Commercial Observer. Kobi Karp is the architect. The developer is Urbana.

New sanitation/storage hub for ports targets meat, medical imports

A lease of Miami International Airport land on the runway this week will provide an option to bring perishables into the airport and PortMiami that now are diverted to Northeastern ports and trucked back to South Florida. The deal could add $318 million to the county’s revenue. The agreement being heard by the Appropriations Committee stems from an airport-seaport…

Miami-Dade to consider $318 million cold chain processing facility

A Hollywood, Florida-based real estate developer may soon make a deal with Miami-Dade County for the right to build a new treatment and processing facility on county land. On March 12, the Miami-Dade County Commission’s appropriations committee will discuss a proposed lease deal with Mandich Group, LLC for the design, permitting, construction, financing and operation…

Lefferts starts closings for 72 Park condos in North Beach

Lefferts has begun closings for its first of four condo projects planned in Miami Beach’s North Beach neighborhood. 72 Park, a 22-story, 206-unit short-term rental-friendly building at 580 72nd Street is 90 percent sold, according to Miami Beach-based Lefferts founder Mendy Chudaitov. So far, deeds for 40 units have been recorded by Miami-Dade County. Condos range from studios…

Vote Scheduled On Nearly 6K Units Planned In Little River

Miami-Dade’s Housing Committee has scheduled a vote on a lease deal that could see thousands of residential apartments and condos developed in Little River. SG Little River Holdings LLC, led my Michael Swerdlow, is proposing to redevelop county land with 5,730 housing units,, 370,000 square feet of commercial space, office space, schools, a Tri-Rail Station, condo units…

Phased Vertical Permit Issued For 50-Story St. Regis In Brickell

Miami’s Building Department has issued a phased vertical permit for the 50-story St. Regis Residences in Brickell. According to an email from the developer, structural foundations and vertical construction of the tower is planned to start in May or June. A groundbreaking ceremony for the 152-unit condo tower took place in November, and foundation work is underway.

Developers Buy Site For 40-Story Towers At Metrorail Station

A transit-oriented property in Coral Gables where two 40-story towers were planned has been sold, according to Bisnow. 13th Floor Investments partnered with Related Group and LeFrak on the $35M acquisition. Shoma Group was the seller. In 2023, Shoma filed plans for two 40-story towers on the site, which is near the Douglas Road Metrorail station. The development…

Cymbal DLT Closes on $114 Million Financing for Laguna Gardens in Miami Gardens

South Florida-based Cymbal DLT Companies has secured $114 million in permanent financing for Laguna Gardens, a 341-unit multifamily community in Miami Gardens. The senior and mezzanine loans, provided by Apollo Global Management and RXR Realty Investments, paid off the development’s $102.5 million construction loan issued in 2022 by Related Fund Management…

Developer Seeks Funding for Affordable Housing Development at 3650 Florida Avenue in Coconut Grove

Grove Prosperity Partners LLC, an entity comprising a church, non-profit organization, and developer, is seeking funds for an affordable housing development in Coconut Grove. Grand Bahamas Place is slated to include two buildings: a five-story structure featuring 56 condos and a two-story building that would offer 2,950 square feet of retail and 4,000 square feet…

Collins Avenue retail storefront targeted in $6M foreclosure

The retail woes along a stretch of Collins Avenue in South Beach have sparked a foreclosure lawsuit against a storefront owner that allegedly owes $5.5 million to a lender. Last week, Troy, Michigan-based Flagstar Bank sued Brooklyn resident Zipporah Goldstein and her entity that owns nine ground-floor commercial units of a three-story condominium at 751 Collins Avenue, records show.

Miami-Based Lombardi Properties Proposes Office Building for 160 N.W. 30th Street in Miami

Miami-based Lombardi Properties has proposed a high-rise office building in Miami-Dade County. The project, which the Next Miami calls “161 Office,” would measure 12 stories above grade and comprise more than 45,000 square feet of new construction. It would take shape on two parcels that make up a 12,200-square-foot site. The already-existing commercial building on the property…

An Expanding Menu of Green Financing Options

Investing in energy efficiency retrofits often comes down to finding financing that can offset the high capital expenditure (CapEx) required while still enabling reduced operating expenses (OpEx) over time due to savings on utility bills. A range of drivers may push CRE companies to look for green financing opportunities, from fluctuating energy costs or tenant demand for green…

North Beach’s Development Boom Gains Momentum With New Residential and Mixed-Use Projects

North Beach, a historically low-rise and quiet section of Miami Beach, is undergoing a wave of redevelopment as developers capitalize on new zoning incentives and increasing demand for housing. The neighborhood, which spans 63rd to 87th streets between the Atlantic Ocean and Biscayne Bay, has seen an influx of investment following a 2017 voter-approved increase in floor area…

Carrfour Supportive Housing Debuts Miami Affordable Community

Carrfour Supportive Housing has opened Southwest Hammocks, a 100-unit fully affordable community in Miami, designed to serve adults with severe mental health issues. The National Alliance on Mental Illness, together with Broward Behavioral Health Coalition, Foot Print to Success Clubhouse and South Florida Wellness Network, were also involved in developing the project.

Developer Proposes Redevelopment of Affordable Housing Community at 750 NW 18th Terrace in Miami

As it stands, the Mildred & Claude Pepper Tower is a 166-unit affordable housing development for seniors in Miami. Built in 1970, the 12-story complex currently offers efficiencies and one-bedroom homes. Yet, Related Urban Development Group (RUDG) has filed documents to redevelop the complex into a 14-story tower with 398 apartments. The one-bedroom and two-bedroom…

First Phase Of $1.5B Southplace City Center Breaks Ground

Construction is now underway on the first phase of Southplace City Center. Southplace City Center is planned as a $1.5B redevelopment of the Southland Mall property, to be built over seven years. A 350-unit apartment building called The Current at City Center is the first phase. It will have luxury amenities and a parking garage. Presidente Supermarkets will occupy the entirety…

Related proposes 390-unit Live Local Act project for South Miami public housing redevelopment

The Pérez family’s Related Group proposes a 390-unit Live Local Act project for the second phase of its redevelopment of a South Miami public housing complex. The application comes as the Coconut Grove-based firm has seized on the state law that incentivizes development of apartments at affordable and workforce rents, with a flurry of new proposals.

Russell Galbut plans 410-unit Live Local Act project in Miami-Dade, amid rush on state workforce housing law

Russell Galbut’s GFO Investments plans a 410-unit Live Local Act apartment project in Miami-Dade County, as developers seize on the state affordable housing law. Miami-based GFO, the Galbut family’s office, proposes a 19-story building and a 16-story building with a seven-story, 950-space garage podium, and a seven-story medical office building on a 4.1-acre site at 7350 Coral Way…

Condo Building With 360-Degree Rooftop Reaches Completion In North Beach

North Beach’s 72 Park condo tower has obtained its TCO and reached completion, with residents moving in. 90 Percent of the building has been sold, according to the developer. Remaining units are priced from the $800,000s. 72 Park includes 206 luxury condo units, allowing short term rental flexibility. The building has a 360-degree rooftop with a sundeck and dining spaces.

Canero plans 54 townhouses in Homestead, amid surge of south Miami-Dade projects

The Canero Group is planning a 54-unit townhouse project in Homestead, aiming to appeal to Miami locals priced out by the area’s luxury boom. The Coral Gables-based firm scored Miami-Dade County’s approval for a total of 66 townhouses for the 2.7-acre site at 27800 Old Dixie Highway, but decided against using the total allotment, President Jose A. Canero confirmed.

Burger King Across From Brickell City Centre Renovated

A Burger King located in a strip mall across from Brickell City Centre has been renovated. Redevelopment has previously been proposed for the property, which is in a prime location. In 2017, Miami’s Planning & Zoning Department granted approval for a 78-story tower on the site called 18, designed by architect Nichols. The plan included 392 residential units with four levels of retail…

DOGE federal property purge may create redevelopment plays in South Florida

Elon Musk’s purge of nationwide federal properties owned and leased by the U.S. government is causing ripples in South Florida’s commercial real estate market. Already, a handful of federal office buildings in Miami and West Palm Beach could be hitting the market, and a couple of Miami-Dade and Broward leases have been canceled, as Musk’s Department of Government…

Lease roundup: Chicago grocery store on tap in Flagler Village, Manolo Blahnik coming to Miami Design District

The Miami Design District, an upscale shopping, dining and arts area developed by Craig Robins’ Dacra and its partners, scored a slew of tenants. Fendi, which previously had a space in the district, reopened an expanded store spanning 6,700 square feet at 150 Northeast 40th Street; and Beth Buccini’s Kirna Zabête opened a 3,000-square-foot store at 106 Northeast 40th Street…

$4.9M Sale of Wawa-Occupied Gas Station and Convenience Store in Davie Brokered

SRS Real Estate Partners has brokered the $4.9 million ground lease (land ownership) sale of a gas station and convenience store located at 2500 Davie Road in Davie. Pennsylvania-based chain Wawa fully occupies the 5,636-square-foot property on a corporate-guaranteed lease. The property was built in 2019 and is situated on 1.4 acres nearly 28 miles north of Miami.

Developer Proposes 325-Unit ‘Pembroke Oaks’ Under Live Local Act at 5434 W. Hallandale Beach Blvd in Pembroke Park

Fort Lauderdale-based Austin Fox Architecture is working alongside Riking Enterprises V LLC on a residential complex submitted through the Live Local Act. The multi-building Pembroke Oaks (among the tallest multi-family developments in the city, if approved) would comprise 582,950 square feet of new construction, featuring 325 residences among three buildings.

FCP JV Acquires in Sunrise

FCP, a Chevy Chase, Md.,-based real estate investment company, is expanding its presence in Florida with the acquisition of ARIUM Sunrise, a 400-unit community in Sunrise, Fla. The company made the purchase with partners BMC Investments and The RMR Group. The property sold for $90 million, or $225,000 per unit, according to Yardi Matrix data. The RMR Group…

Construction to Start on ‘Regency Park’ by Q4 at 809 N.E. 16th Avenue in Fort Lauderdale

Chicago-based Regency Development Group intends to start construction on a luxury townhome development by the end of this year. Regency Park would comprise 24 townhomes, each measuring three stories above grade. The three- and four-bedroom residences would span 2,930 to 3,077 square feet; in-unit features would include private elevators, ground-floor…

Construction Progresses at Marina Landings at 2300 SW 15th Avenue in Fort Lauderdale

Construction is advancing at Marina Landings, a 34-home single-family community in East Fort Lauderdale by 13th Floor Homes. The boutique gated development is now more than halfway complete, with the first residents expected to move in this spring. More than half of the community’s homes have now been sold and are completed as residents prepare for move-ins…

BH3 adds 200-plus units to its planned two-tower DNA project in Fort Lauderdale’s Flagler Village

BH3 Management proposes 844 units at its two-tower project in Fort Lauderdale’s Flagler Village, up 38 percent from its previous plan. Fort Lauderdale-based BH3 raised the number of units from 612 and made both towers 45 stories, rather than one 45-story tower and one 40-story tower, according to the city’s Development Review Committee meeting agenda. As a whole…

‘Casamar’ Primed for Summer 2025 Completion at 900 North Ocean Boulevard in Pompano Beach

Florida YIMBY has an update regarding Casamar, a 21-story beachfront tower that we first covered in 2022. The development broke ground in May 2023, slated to offer 119 luxury residences. Now, contractors are working on interior and sitework, gearing for a summer 2025 completion. The three- and four-bedroom homes at Casamar will span 2,982 to 3,934 square feet…

Vertical Construction Underway for Boynton Tropical in Boynton Beach

Vertical construction has commenced at Boynton Tropical, a 55+ active adult apartment community planned for Boynton Beach. Developed by Kolter Multifamily LLC, an affiliate of The Kolter Group, the project will introduce 210 rental residences alongside a 15,000-square-foot amenities package designed to promote active living and social engagement. Completion is expected…

Only in America! Don King slapped with foreclosure lawsuit alleging $5M default

A lender is going toe-to-toe with Don King, alleging the Donald Trump loving boxing promoter defaulted on a $5.3 million mortgage. An affiliate of Miami-based Blueprint Capital Partners filed a foreclosure complaint in Broward County Circuit Court against King and his entity Fairway Enterprises that owns a 46,467-square-foot warehouse at 501 Fairway Drive in Deerfield Beach…

Savanna lands $380M construction loan for Olara in West Palm

Savanna landed $380 million in construction financing for its waterfront Olara project in West Palm Beach. It marks a crucial milestone for the firm’s first South Florida development, more than two years after launching sales. Zeckendorf Development, Sculptor Real Estate, One Investment Management (OneIM) and Octo Capital provided the financing, according to a press release.

More mileage: Krause Auto buys two Palm Beach County dealerships for $31M

Krause Automotive Group is branching out to South Florida after acquiring a pair of Nissan dealerships in Palm Beach County for a combined $30.5 million. The Alpharetta, Georgia-based company, led by CEO Vernon Krause, acquired two automobile retail sites at 5353 Lake Worth Road in Greenacres, and 3870 West Blue Heron Boulevard in Riviera Beach for $17.5 million…

Florida bills aim to boost HOA and condo association oversight, ease structural integrity requirements

The Florida Legislature is considering bills this session that target two of the thorniest issues at condo and homeowners associations: alleged fraud and structural requirements. For decades, some communities have been hotbeds for board members’ alleged mismanagement and fraud. In the biggest fraud case in recent years, authorities in 2022 charged four former board…

GSEs and Their Counterparts – A Multifamily Agency Financing Primer

Federal Agencies in the Housing Finance Space – Who is Who? Federal Agencies and the Government Sponsored Enterprises (GSEs) are often cited in the multifamily housing space. From new rules to new incentives or grant programs, they are ubiquitous in the industry. However, the details of their functions can be a bit opaque for those who are new to the industry…

Q4 2024 Housing Affordability Update

Key Takeaways The national rent-to-income (RTI) ratio has steadily decreased over the last five quarters, reaching 27.6% in Q4 as the median household income continues to outpace rent growth.Increased housing supply and strong wage growth provide first-time home buyers more options despite elevated mortgage rates.The rise in inventory from higher completions…

Beige Book: Modest Economic Growth, Steady Employment in the Southeast

The Southeast economy continued to grow and employment held steady, while consumer spending dipped slightly, according to the new Beige Book. The Atlanta Fed’s latest report on economic conditions includes anecdotal feedback from January through mid-February. On the labor market front, little changed since the last report: headcounts remained mostly flat and…

Q4 2024 CRE Tech Market Performance Index

The national office market reverted back to increased vacancy rates after seeing a brief dip in the third quarter, as vacancies increased by 0.2% to 20.3% during the fourth quarter. Even with a rise in vacancy, rents also experienced growth of 0.2%. The following will not only discuss this data but also how layoffs in the tech sector stayed persistent. We have compiled a brief update…

Flood of policy changes in Washington befuddles bankers

With a flurry of executive orders being rolled out by the presidential administration, the international banking and finance industry waits to see if any established policies will be impacted. There’s quite a confusion as some of the changes as executive orders with potential rule changes continue to take hold, said David Schwartz, president and CEO of the Financial & International…

Inter Miami’s New Soccer Stadium Now Taking Shape

Inter Miami’s new stadium at Miami Freedom Park is now rising, a new photo shows. The 25,000 seat stadium is being built as part of a 130-acre development next to Miami International Airport. In addition to the stadium, the development will eventually have around 600,000 square feet of retail and restaurant space, and 750 hotel rooms. An 8-story 382,592-square-foot…

Updated Plans Filed for The HueHub, a 4,032-Unit Live Local Development in West Little River

Newly revised plans have been submitted for The HueHub, also known as Holland Park, a large-scale Live Local Act development at 8400 NW 25th Avenue in Miami-Dade County’s West Little River neighborhood. Designed by Arquitectonica and developed by 27th Ave Hollandpark Ecoresidences LLC, led by developer Pablo Castro, the mixed-use project continues to progress…

Brickell’s House Of Wellness Submitted For Site Plan Review

Plans to build a Brickell tower called House Of Wellness have been submitted to the county for site plan review. House Of Wellness was also submitted for zoning review on February 24 The site plan filing was submitted on March 4. Plans call for a tower rising approximately 47 stories, or 481 feet. A modern hotel with 832 lodging units will be housed within the tower.

South Florida pushed to make tech a core part of its economy. This didn’t yield new office tenants

In 2022, Dara Ladjevardian co-founded artificial intelligence digital clone firm Delphi in Miami, joining a wave of tech entrepreneurs moving to the city. “Miami was an incredible launchpad for Delphi — vibrant energy, a melting pot of cultures and a growing tech scene,” Ladjevardian’s digital clone (don’t ask) told The Real Deal. From late 2020 through 2022, venture capitalists…

Miami Dade’s 2025 Courthouse & 1928 Courthouse

A photo shows Miami-Dade’s new and old courthouses. The new courthouse is replacing the older one across the street. The older Dade County Courthouse was completed in 1928 and became the tallest building south of Baltimore. It was also the tallest municipal building in the United States. GFO Acquisitions LLC, which is a subsidiary of GFO Investments, has reportedly…

Construction Permit For Midtown 7 In Process

The construction permit to build the Midtown 7 building planned in Midtown Miami is now in review again. Construction permits typically require multiple review cycles before they can be approved. This is the fourth cycle of review for the permit. The process began in July 2023, and the last review cycle was completed in January. The building was submitted for UDRB review…

Miami Congressional District Among Top Income Tax Contributors

The congressional district that includes Miami is among the top contributors of federal income tax in the country. The analysis by Bloomberg looked at IRS data from 2022. The districts that paid the most in federal income tax that year were: New York’s 12th congressional district (NYC) – $27.3B California’s 18th congressional district (Silicon Valley area) – $27B…

262-Key Boutique Hotel Planned for Miami Beach’s Washington and Collins Corridor Moves Forward with Unanimous Approvals

Keyah Real Estate Group has unveiled plans for a 262-key boutique hotel, which includes renovating the historic Haddon Hall Hotel at 1500 Collins Avenue and constructing a new building at 1509-1515 Washington Avenue. The project has secured approvals from both the City of Miami Beach Planning Board and, most recently, the Historic Preservation Board, allowing it to move forward.

Lefferts Delivers 206-Unit Miami Beach Condo Tower

Lefferts has completed 72 Park, its 206-unit luxury condominium tower totaling 501,788 square feet in Miami Beach, Fla. The 22-story is now 90 percent sold, with Cervera Real Estate in charge of sales and marketing. The property is Lefferts’ first new luxury development that allows short-term rentals opportunities, as well as the company’s first of four developments to reach…

Miami Worldcenter name may get ride on Metromover station

The Park West Metromover Station could be renamed this week for the nearby Miami Worldcenter development without the county receiving naming rights payments or repayment of its costs in making the name change. The resolution by Commission Keon Hardemon to permanently name the 800 NE Second Ave. site the Miami Worldcenter Metromover Station comes…

Park West Metromover Station Proposed To Be Renamed

Miami-Dade could soon rename the Park West Metromover station. The new name of the station is proposed to be the Miami Worldcenter Metromover Station. A memo from county staff notes that Worldcenter is a massive development spanning multiple blocks and a mix of uses. Renaming the Park West Metromover Station as the Miami Worldcenter Metromover Station…

Shovels in the ground for city building in Miami Freedom Park

Miami’s new government headquarters is finally taking shape, with site work underway for a state-of-the-art administration building next to Miami Freedom Park that will provide the city’s first custom-designed offices and a modern hub for municipal operations. Groundbreaking Jan. 15 marked the start of a long-anticipated project to relocate the city’s administrative offices that…

History for Sale: Will historic Miami Shores church be acquired by a development company?

Miami Shores Community Church is a landmark. For decades, the bells of the oldest Christian meeting place in the village provided a musical soundtrack. The golden-hued bell tower was lit up, a beacon visible from far away. And it’s historic. In 1949, its white minister, Donald Douds, invited a Black colleague, the Rev. Edward T. Graham, to preach at the church for “Brotherhood Week.”

First Glass Installed At 41-Story Complex In Edgewater

Edgewater’s under-construction 2600 Biscayne tower has had its first glass installed as it continues to rise. The massive mixed-use development takes up a fully city block, one block away from a planned Northeast Corridor rail stop. The tower is planned to reach a height of 521 feet upon completion. It is planned to include 399 luxury apartments, 187,000 square feet of office…

75-Story Baccarat Residences Is Rising In Brickell

Brickell’s 75-story Baccarat Residences tower is continuing to rise, a new photo shows. Baccarat is approved to rise to a height of 848 feet above ground, which is taller than any existing building in Brickell other than Panorama Tower. A foundation pour took place in August The development will include 324 tower residences, 8 penthouses and 28 riverfront flats and duplexes.

12-Story Office Planned In Wynwood

Wynwood’s Design Review Committee is scheduled to have a hearing on a new office proposal next week. The 12-story project is named 161 Office. 161 Office is planned to include 45,666 square feet of office area, with an amenity floor. There will also be 25 parking spaces. Deforma Studio is the architect, with Lombardi Properties the developer. To see the full plans…

Doug Levine cashes out of another Wynwood project, sells office condos for $24M

Crunch Fitness founder Doug Levine is burning more weight off his commercial portfolio in Miami’s Wynwood neighborhood, selling office condos for $23.5 million. Levine, who leads Miami Beach-based Big Move Properties, sold the fully leased upper two floors of the three-story Wynwood Sky Office Building at 1900 Northeast Miami Court, Devlin Marinofff with Dwntwn…

Construction Commences on ‘The Current at City Center’ at 20505 S. Dixie Highway in Cutler Bay

Construction has started on part of a $1.5 billion redevelopment project that will transform Cutler Bay’s Southland Mall into Southplace City Center, a mixed-use venture that will feature residences, shopping, and communal gathering areas. Here’s what’s in store. The Current at City Center, located in Cutler Bay, will offer 350 residences; communal amenities will include a dog park…

JV Breaks Ground on $1.5B Miami Redevelopment in Cutler Bay

Joint venture partners American Landmark and BH Group have commenced construction on The Current at City Center in the southern Miami-Dade town of Cutler Bay, Fla. The development represents the initial step in a $1.5 billion redevelopment that, over the next seven years, will transform Southland Mall into Southplace City Center. Poised to redefine Cutler Bay’s…

Developer Signs Deal For 872 New Apartments in Edgewater After Strong Leasing

Another 872 apartments are planned to be connected to the water and sewer system in Miami, according to a newly completed utilities agreement. The agreement comes a few months after strong leasing was reported for the first of three towers planned at the development, known as Edgewater Collective. The first tower has 420 apartments in 36 stories. A grand opening…

Demolition Permit Activity At One Brickell City Centre Site

A total demolition permit for a building at the One Brickell City Centre site is back in review as of this morning. There’s now just one correction left to be made before the permit can be approved. There also appears to already be preparation for demolition underway at the building. Once the building is demolished, the One Brickell City Centre site will have been fully cleared.

Related scores funding from city of Miami for 98-unit affordable housing project in Flagami

Jorge Pérez’s Related Group scored an up to $5.7 million loan from the city of Miami for a 98-unit affordable housing project for senior residents in the Flagami neighborhood. On Thursday, Miami commissioners voted to award the funds from the Miami Forever Bond program for pre-development and construction costs for the second phase of Flagler Villas at 5350 West Flagler Street.

YouTuber Explores Why Many Americans Are Moving To Miami

A YouTuber with millions of subscribers has released a video documenting the migration of Americans to Miami. Peter Santenello’s latest video is titled: Inside Wealthy Miami – Why Are So Many Americans Moving Here? It features some of Miami’s thriving and fast developing neighborhoods, such as Edgewater and Brickell.

Groundbreaking Held for Fifth Street Pedestrian Bridge in Miami Beach

Construction has officially begun on the Fifth Street Pedestrian Bridge, a colorful, elevated walkway designed by French conceptual artist Daniel Buren to enhance pedestrian and bicycle connectivity in Miami Beach. The City of Miami Beach, in collaboration with developers Terra and GFO Investments, held a groundbreaking ceremony at 500 Alton Road to commemorate the milestone….

Hialeah Officials Approve Eight-Story Project for 552 East 26th Street

Hialeah city officials have greenlit a mixed-use project that would offer both retail and residences. The venture, which would occupy 5.6 acres, would measure eight stories above grade and feature 559 apartments. Five percent of those homes (about 28) would be reserved under the Hialeah Heroes Program, an initiative that aims to provide workforce housing for firefighters…

Electrical Permit Applied For At Brickell’s Santander Tower Site

A permit for temporary electrical power during construction has been applied for at Brickell’s Santander Tower site. The electrical permit application was submitted February 14 and is in prescreening. Santander is building a “landmark” 1.6 million square foot development on the property. The new 765-foot tower is being designed by Handel Architects and Bernardi & Peschard…

New Lighting System At 816-Foot Aston Martin Tower ~ Insta

A video by Due Italiani a Miami shows that a colorful lighting system has now been turned on at the recently completed Aston Martin Residences. Aston Martin Residences opened in April, becoming the second tallest building in Miami and all of Florida. The 66-story tower rises 816 feet. It includes 391 luxury condos.   View this post on Instagram   A post shared by Due Italiani…

Groundbreaking Ceremony Held For The Rider Residences

A groundbreaking ceremony took place for The Rider Residences across from Midtown Miami. The developer told the SFBJ that the condo units are about 30% sold. The Rider will rise 12 stories, and include 146 condos. Units will be delivered furnished, without rental restrictions. Rilea Group and Cipres are the developers.

Nightingale’s lender takes over Miami Beach building tied to Elie Schwartz scandal

A lender for Nightingale Properties is the new owner of a Miami Beach building that played a leading role in the downfall of Nightingale CEO Elie Schwartz. But Granite Point Mortgage Trust will likely draw buyers seeking a price discount for Lincoln Place, a distressed mixed-use project at 1601 Washington Avenue, brokers say. In a ground lease in lieu of foreclosure deal…

Surfside Approves Plans for Champlain Memorial

Almost four years after the tragic collapse of Surfside’s Champlain Towers South in 2021, the town commission has approved a final conceptual design plan for a memorial to honor the victims and their families. The memorial will be located at the end of 88th Street and Collins Avenue and across from the site of the collapse. After three conceptual designs that were…

Fraud accusations fly in Miami waterfront dev site foreclosure suit

A lender is accusing a Marlon Gomez joint venture of engaging in fraud to obtain a $10 million loan. An affiliate of Coral Gables-based The Fiorentino Family Office filed a foreclosure complaint last week Gomez, who leads Miami-based Gomez Development, two of his entities, Coral Gables-based Gumbo Limbo Holdings and its principals Fausto Callava and Antonio Pardo…

Lease roundup: Chef Michelle Bernstein and restaurateur David Martinez opened a restaurant at Palms at Town & Country; More…

Chef Michelle Bernstein and restaurateur David Martinez opened a new restaurant in Kendall. La Cañita leased 5,400 square feet at 8405 Mills Drive at the Palms at Town & Country Plaza in unincorporated Miami-Dade County, according to the tenant’s news release. The space seats about 180 guests. Jason Sims of Serhant represented the tenant. Maggie Reyes of The Shopping Center…

David Beckham, partners in $1B Miami Freedom Park allegedly owe $590K in pre-construction services

Development of the $1 billion Miami Freedom Park is off to a rough start with a contractor alleging its owners haven’t paid a past due six-figure bill. Indianapolis-based Hunt Construction Group, led by CEO Robert Hunt, sued Coral Gables-based Miami Freedom Park LLC in Miami-Dade Circuit Court last month for allegedly skipping out on three invoices totaling…

Foreclosure woes worsen for Raoul Thomas’ CGI Merchant Group

Investor Raoul Thomas is having a hard time stemming the collapse of his commercial real estate portfolio. Recently, Thomas’ CGI Merchant Group lost its Coconut Grove headquarters at a foreclosure auction, and is now one step closer to losing 65 commercial units at a Coral Gables mixed-use building. Before the latest blows, CGI Merchant lost a Gabriel-branded…

Lincoln Property JV Buys Weston Food Distribution Facility for $44M

The cross-dock facility at 1600 N. Park Drive features 25-foot clear heights and ample vehicle and trailer parking spaces. Image courtesy of Lincoln Property Co. Lincoln Property Co., in joint venture with Walton Street Capital, has purchased a 226,392-square-foot distribution center for $43.8 million in Weston, Fla. The buyer assumed a $41.8 million loan and increased it to…

Developer Proposes ‘Blue Park’ for Hallandale Beach

Four parcels comprising 1.47 acres could soon be transformed into a multi-family housing development in Hallandale Beach. 221 Developers LLC has proposed an eight-story building that would comprise 274,000 square feet of new construction. Plans for “Blue Park” call for 185 homes; layout plans span studio to two-bedroom units, along with eight ground-floor…

White Oak scores $67M construction loan for 286 apartments in Davie, amid South Florida multifamily supply overhang

White Oak Development scored a $67 million construction loan for a 286-unit apartment project in Davie. Coral Springs-based White Oak and Los Angeles-based Ares Management plan a pair of four-story buildings and a four-story garage with about 480 spaces at 4181 and 4233 Davie Road, according to city records. Last week, an entity tied to White Oak bought the 4.1-acre site…

Joint Venture Finalizes Major Office Transaction at 401 East Las Olas Boulevard

A joint venture comprised of Lone Star Funds, Highline Real Estate Capital, and Square2 Capital has acquired 401 East Las Olas Boulevard—also known as Bank of America Plaza at Las Olas City Centre—in what is considered Fort Lauderdale’s largest office transaction of the past ten years. The 23-story, 410,561-square-foot Class AA tower sits on a full city block in the heart of the Las Olas…

Integritas proposes 57-story hotel, apartment tower in Fort Lauderdale, as investment in the city intensifies

Integritas Capital proposes a 57-story tower with apartments and a hotel in Fort Lauderdale, as investment and development intensifies in the city. The New York-based firm filed a site plan for 550 apartments and a 253-key branded hotel at the tower’s podium at 111 Southwest Third Avenue, said Stephen Palmese, who leads Integritas. Brooklyn-based Heights Advisors…

Regency launches sales of luxury townhouses in Fort Lauderdale’s Victoria Park

Regency Development Group is launching another residential project in South Florida. The Miami-based firm kicked off sales for Regency Park, a 24-unit townhouse development planned for the assemblage at 809 Northeast 16th Avenue in Fort Lauderdale, said Michael Troyanovsky, a managing partner at Regency Development Group. The site runs along 16th Avenue…

Industrial vs yachts: Boat storage owner plans to replace Dania Beach marina with spec warehouses

The owner of a boat storage facility in Dania Beach plans to replace the property’s marina with two spec warehouses. Banyan Bay Marine Center won site plan approval Tuesday for the development of two warehouses with a total of about 170,000 square feet, in place of the marina. “The site hasn’t gone out to market yet to potential tenants,” Tracy Slavens…

FCP buys 400-unit Sunrise apartment complex for $90M, amid slow investment sales so far this year

FCP bought a 400-unit apartment complex in Sunrise for $90 million. Chevy Chase, Maryland-based FCP bought the Arium Sunrise complex at 1501 Northwest 124th Terrace from Los Angeles-based PCCP and Newton, Massachusetts-based RMR Group, according to records and real estate database Vizzda. The deal breaks down to $225,000 per unit.

Vertical Construction Underway for Apex Logistics Park at Delray in Palm Beach County

Vertical construction is now underway for Apex Logistics Park at Delray, a 200,000-square-foot Class A logistics development in Delray Beach, Florida. The project, led by Altman Logistics Properties in partnership with PCCP, marks the first phase of a larger industrial complex that could eventually total up to 672,000 square feet across three buildings.

Lotis nabs another construction loan for Wellington mixed-use project

Lotis Group landed a $28.2 million construction loan for a Wellington mixed-use project. Amerant Bank provided the financing for the commercial portion of The Square & Residences at Lotis Wellington, which will consist of 60,000 square feet of medical offices and 61,400 square feet of retail space, including restaurant outparcels, a press release states. Sean Harrington…

Developer Proposes High-Rise Residential Tower for 3930 North Ocean Drive in Riviera Beach

HHC Singer Island LLC has proposed a high-rise luxury tower on an oceanfront property in Palm Beach County. The 20-story development calls for approximately 188,950 square feet of new construction and would offer 52 condos. At the time of publication, our sources did not reveal measurements or layouts. The complex would offer 121 parking spots (2.33 per residence), along…

EB-5 investor program may expand as Gold Card visas eyed

With its shift to come under the Secretary of Commerce, the EB-5 Immigrant Investor Program could potentially expand and have more visas made available to attract foreign investment. By bringing it to the attention of the commerce department, the intended result is to see the program expanded and more visas made available – something that has long been desired by industry…

25% Tariffs On Mexico And Canada Begin, Adding Uncertainty To CRE Outlook

https://www.bisnow.com/national/news/commercial-real-estate/trump-to-implement-25-tariffs-on-mexico-canada-128313 President Donald Trump imposed 25% tariffs on Canada and Mexico starting Tuesday, ruling out an eleventh-hour deal to avoid penalties on some of the country’s top trading partners — a measure that will reverberate through commercial real estate.

Commercial Lenders Sharpen Their Pencils

Sometimes, you just know when it’s time.  For all the number crunching, quantitative analysis and formulaic modeling that their job demands, commercial real estate lenders are harnessing the qualitative and intangible factors as they prepare to boost deal volume in 2025.  Vibe, sentiment, intuition — call it what you want, but there’s an emerging sense within the commercial…

Strong Job Gains Meets High Apartment Supply Across Florida

Job growth has been significant across the state of Florida in the current cycle, which would typically lead to solid apartment occupancy and rent growth. But apartment performance in the Sunshine State has been subdued by staggering new supply volumes. Florida added 950,000 jobs in the 2020–2024-time frame, according to data from the Bureau of Labor Statistics.

Proposed housing bills expand on Florida’s Live Local Act, further reducing local government authority

Florida Rep. Vicki Lopez filed two housing bills that would ease the development of Live Local Act and other affordable housing projects. Lopez, a Miami Republican whose district includes Key Biscayne, is sponsoring House Bill 943, called Real Property and Land Use Development, and House Bill 923. The legislative session started on Tuesday, and both bills were read…

The Yellow Brick Road to Opportunity Zones

If you’re an investor and don’t know what an Opportunity Zone (OZ) is, you should. This legislation has been in place since 2017 and aims to increase investment in disadvantaged areas across the United States. As of 2022, the program has attracted over $100 billion in capital. While the current legislation has successfully attracted capital, it has specific deadlines. As we approach those…

Industrial Property Rents Start The Year Strong

Rents for industrial space were up nationwide to start the year while U.S. manufacturing has been expanding, according to CommercialEdge. Rents averaged $8.35 per square foot across the U.S. in January, up 6.8% compared to a year earlier, reported CommercialEdge, a division of Yardi. Industrial rents vary tremendously by region, with several cities…

Xebec Realty slashes Miami industrial portfolio in half, sells warehouse for $27M

Xebec Realty Investments is down to one warehouse project in Miami-Dade County after selling a Liberty City industrial property for $26.8 million. Dallas-based Xebec Realty, led by CEO Randy Kendrick, sold a 85,483-square-foot facility built in 2023 at 1010 Northwest 72nd Street, records and real estate database Vizzda show. The buyer is an entity managed…

Tech Company Varonis with 2,400 Employees Moves HQ To Brickell

A technology company listed on the Nasdaq is moving its headquarters to Miami. Varonis signed a lease for 17,900 square feet at 801 Brickell, which will become its new HQ. The SFBJ reported that the office is currently being built out, with move-in scheduled in the third quarter. The company is already listing the Brickell address as its HQ on its website. The company has…

Constellation, Boschetti switch Coral Gables multifamily project to “wellness condos”

Eduardo Otaola and Jose Boschetti are launching sales for Cora, a planned wellness-focused condo project in Coral Gables. Otaola’s Constellation Group and Boschetti’s Boschetti Group are planning the 13-story, 74-unit Cora for 4241 Aurora Street, according to a press release. The building will have 8,000 square feet of ground-floor retail and 13,000 square feet of offices…

Futuristic Office Building 3050 Aventura Designed By Foster + Partners Tops Off

A futuristic office tower designed in the form of two interlocking pyramids has topped off. Architect Foster + Partners is designing the 12-story, 237-foot building, which will have a glass façade. The building is known as 3050 Aventura. It will have three levels of subterranean parking, with 386 spaces. A grand entrance hall is planned on the ground floor, with a ceiling of over 37 feet.

First Permit Approved For 544-Unit Residential Tower Planned In Edgewater

Miami’s Building Department has issued a tree permit for 1775 Biscayne Boulevard, where an apartment tower is planned. A 42-story tower is planned on the property with 544 rental apartments, 10,106 square feet of ground-floor retail, and a 628-space parking garage. The tree permit was approved on February 21. There’s also new activity on a site work permit, master construction…

Site Work Permit Applied For at 57-Story Edge House Property

A site work permit application has been filed for the property where the 57-story Edge House Miami tower is planned. The site work permit application was submitted on February 19. As of this morning, it had not yet progressed to the review phase. Thornton Construction Company, Inc. is listed as the contractor. Edge House is planned to rise 637 feet above ground.

Supertall 81-Story Tower at 1414 Brickell Submitted for Zoning Review in Miami

A zoning application was recently filed with Miami-Dade County for the planned 81-story supertall at 1414 Brickell. Designed by Arquitectonica and developed by 1414 Brickell, LLC, with Walter Defortuna listed among the stakeholders, the mixed-use skyscraper would rise rise 1,010 feet and comprise 560 residential units, 84 hotel rooms, 145,950 square feet of office space…

Domus Brickell Park Tops Out at 12 Stories in West Brickell

Construction has topped out at Domus Brickell Park, a 12-story short-term rental-friendly condominium rising in Miami’s West Brickell district. The project, developed by North Development, reached the milestone in collaboration with general contractor Thornton Construction and exclusive sales broker Cervera Real Estate. Located at 1611 SW 2nd Avenue, Domus…

‘Blu Aventura Apartments’ First Phase Under Construction at 2335 NE Miami Gardens Drive

Our sources have pointed to a mixed-use project currently under construction in Miami-Dade County. Blu Aventura Apartments will comprise two phases. The first phase, which involves the construction of the “west wing”, will feature 23,954 square feet of retail and 350 apartments. Construction is expected to wrap up in next year’s second quarter. Zillow shares that prior…

Block Capital’s Wynwood dev site hits market with $16M asking price

The Miculitzki family’s Block Capital is looking to shed a prime development site at 100 NW 25th Street in Miami’s Wynwood neighborhood. Miami-based Block Capital is listing a 16,866-square-foot retail building that could be redeveloped into a five-to-eight-story mixed-use project. The site has an asking price of $15.5 million, according to an online marketing brochure.

MMG Equity scores approval for 38 townhouses on West Kendall site previously planned for apartments

MMG Equity Partners scored approval for a complex with 38 townhomes and retail in West Kendall, marking a change from its previous plan for apartments. The project, called Coral Nest, will consist of two-story townhomes and 24,500 square feet of retail on a 6.5-acre site on the northwest corner of Southwest 144th Avenue and Coral Way, according to an MMG news release.

70-Story Call 8 Brickell Site Seen Weeks After Scoring Key Approval

A photo taken last night shows the site where the 70-story Calle 8 tower is planned. A gas station is still operating on a portion of the site. Earlier this month, Miami-Dade commissioners voted unanimously to approve a special exception for a general development plan for Calle 8. Zoning review for the new tower by Miami-Dade began in January 2024, while site plan review began…

Wynwood Works Reaches Completion With 120 Units

A ribbon cutting ceremony was held yesterday for Wynwood Works, according to the Omni CRA. Wynwood Works rises 12 stories and includes: 120 apartments 5,698 square feet of ground-floor retail 102 parking spaces in a 5-level garage Units are income restricted, and range from 445 to 774 square feet. To see a video of the completed building…

Developer Buying Site Near Brickell City Centre, 720-Foot Condo Tower Planned

Prosper Group, led by Jay Roberts, has signed an agreement to buy a condo development site near Brickell City Centre. A new 59-story, 720-foot tower is planned, with a luxury brand partner… A joint development partner will also be announced. The purchase includes three sites, including one on the Miami River, and two across the street at 66 SW 6th Street and at 625 SW 1st Avenue.

Prosper Group Inks Contract for Three-Parcel Acquisition Near Brickell City Centre, Paving Way for 59-Story Riverfront Condo Tower

Jay Roberts, CEO of Miami Beach-based Prosper Group, is in contract to acquire three prime parcels totaling one acre along the Miami River, adjacent to Brickell City Centre. The properties, located at 66 SW 6th Street, 625 SW 1st Avenue, and an additional riverside site, were purchased from 99SW7 Holdings LLC, a joint venture between Newgard Development Group…

Two deals to remake Watson Island face city votes

The transformative sale of a parcel on Watson Island’s north side is on the verge of closing, ushering in luxury residences, 13 acres of public greenspace overlooking Biscayne Bay and millions in community benefits. The Miami City Commission is voting today (2/27) on a major land deal that would reshape Watson Island with a high-end residential project while delivering…

Lease of 51,484 SF Office in Miami’s Waterford District Arranged for Verizon

Blanca Commercial Real Estate (Blanca CRE) has arranged a 51,484-square-foot office lease for Verizon in Miami. Juan Ruiz, Andres del Corral, Jack Davidson, Tere Blanca and Jessy Aguila of Blanca CRE represented the property’s ownership, a joint venture between Nuveen Real Estate and PIMCO Prime Real Estate, which acts on behalf of Allianz insurance companies.

Verizon leases at Waterford Business District after selling its HQ near Doral

Verizon will move its offices to the Waterford Business District near Miami International Airport, after selling its headquarters near Doral. The telecommunications firm leased 51,500 square feet at 5200 Waterford District Drive, where it will move in July of next year, according to a news release from the landlords’ brokers. The deal is the biggest office lease so far this…

1000 Boulevard of the Arts Announced in Sarasota’s Waterfront District

Kolter Urban has announced 1000 Boulevard of the Arts, a 20-story mixed-use development set to bring 117 luxury condominiums and a Hyatt Centric® Harborside hotel to Sarasota’s waterfront district. Located at 1000 Boulevard of the Arts, the project will introduce a blend of upscale residential living and hospitality within the city’s Arts and Culture District.

Self-storage facility owner backed by Easton faces $22M foreclosure

A self-storage facility owner backed by Doral-based Easton Group is in danger of losing a seven-story warehouse in Miami’s Allapattah tied to a $22.1 million mortgage. An affiliate of Uniondale, New York-based Acres Capital filed a foreclosure complaint in Miami-Dade Circuit Court on Tuesday against Howard Pryor, president of Miami-based Forge Real Estate, and two entities he manages.

Construction Underway for Ocean House, a 25-Unit Condominium in Surfside

Multiplan Real Estate Asset Management (REAM) has broken ground on Ocean House, a 25-unit luxury condominium at 9317 Collins Avenue in Surfside. Designed by Arquitectonica with interiors by Carla Guilhem, the boutique oceanfront development is set to rise six stories and offer residences ranging from 2,093 to 6,279 square feet, with pricing starting at $5 million.

Developer Seeks Funding for Second Phase of Flagler Villas at 5350 W. Flagler Street in Miami

Just more than a month after Flagler Villas broke ground in Miami-Dade County, Related Urban Development Group has proposed the venture’s second phase, which would be located a block away. Plans call for 98 one-bedroom and two-bedroom apartments, aimed at seniors earning 30 percent of the area median income (AMI). According to Miami-Dade County records…

Southpointe Vista Phase I Completes Construction in Miami-Dade, Phase II Begins

McDowell Housing Partners (MHP) has completed construction on Southpointe Vista Phase I and secured financing for Phase II, marking the next step in a multi-phase affordable housing development in Miami-Dade County, near Cutler Bay. The project will introduce a total of 332 units across two buildings, providing housing for families and individuals earning at or below 70%…

Supertall 81-Story Brickell Tower Submitted For Zoning Review

A zoning review application has been submitted to Miami-Dade for an 81-story mixed-use tower at 1414 Brickell. According to the February 20 filing, 1414 Brickell is planned to include: 560 residential units 84 hotel units 145,950 square feet of office 6,038 square feet of retail 1,226 parking spaces in an 11-story podium The top of the tower is planned to reach a supertall height…

Weekend Foundation Pour For Downtown 6 Miami Tower with 824 Apartments

A foundation pour was scheduled this past weekend for the 58-story Downtown 6 tower in downtown Miami. A total of 2,400 cubic yards of concrete were planned to be poured beginning at 11 PM on Friday night, according to a social media post by shell contractor L&R Structural Corp. Downtown 6 is being developed by Melo Group, which also built the two 52-story Downtown 5…

Miami Jewish Health plans 192-unit senior living complex in Miami’s Buena Vista

Miami Jewish Health plans a 192-unit independent senior living complex at its existing campus in Miami’s Buena Vista. The project, called FiftyTwoNorth, will consist of a pair of five-story buildings and an 11-story building at 5200 Northeast Second Avenue, all geared to residents who are 62 and older, according to Miami Jewish Health. The nonprofit is partnering with…

The Standard Residences Brickell 10% Sold: New Renderings

The developer of the 45-story The Standard Residences, Brickell has released new details and renderings. Buyer response has been strong, the developer said. There are now 32 reservations executed and 5 more out for signature, marking nearly 10% of the residences spoken for. Plans call for 422 condo units, a 45th floor rooftop lounge, amenities, and a restaurant.

Edgewater dev site in Miami hits market for $32M, as partners abandon plans for mixed-use tower

A group of developers are scrapping plans for a mixed-use tower in Miami’s Edgewater and are listing the site with an asking price of $32 million. Karl-Ulrich Ansorg, Yakov Elbaz, Ofir Gabriel and Amit Kort retained Michael Hinton with Lee & Associates to market the 0.8-acre assemblage at 3350 Biscayne Boulevard and 234-264 Northeast 34th Street, a press release states.

$25.75 Million Sale-Leaseback Transaction Completed in Doral/West Airport Market

Digiacomo Group successfully represented the seller, Sun Belle, LLC, in the $25,750,000 sale-leaseback of 2323 NW 72 Ave, a premier industrial facility located in the highly sought-after Doral/West Airport Market. The 82,261-square-foot coolered facility, situated on a 3.34-acre lot east of Milam Dairy Road, was acquired by Iconic Equities, LLC, a Miami-based real estate…

$25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport Arranged

Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Ave. in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial…

IP Capital boosts industrial portfolio, paying $26M for its first Miami cold storage facility

IP Capital Partners boosted its industrial holdings in South Florida, acquiring a cold storage facility near Miami International Airport for $25.7 million. A JLL team led by Cody Brais and Luis Castillo represented Boca Raton-based IP Capital, led by Jason Isaacson and Josh Procacci, in acquiring the 77,607-square-foot warehouse at 2323 Northwest 72nd Avenue…

Vertical Construction Permit Approved for 67-Story JEM Private Residences at Miami Worldcenter

A full vertical permit (Phased Permits – Phased Class I) has been approved for JEM Private Residences at 1016 Northeast 2nd Avenue, also addressed as 175 NE 10 Street, in the 27-acre Miami Worldcenter district. The newly granted permit clears the way for superstructure work on the 67-story mixed-use tower, designed by Arquitectonica and developed by Naftali Group.

CLAUDIE Brings French-Mediterranean Dining to 1101 Brickell in Miami’s Financial District

Florida East Coast Realty (FECR) has announced the opening of CLAUDIE, a French-Mediterranean restaurant by Riviera Dining Group (RDG), at 1101 Brickell. The restaurant occupies 10,000 square feet of indoor and outdoor space on the ground floor of the 300,000-square-foot twin office towers, adding a refined dining experience to Miami’s Financial District.

Miami Beach City Officials Greenlight Hotel Redevelopment at 1500 Collins Avenue in Miami Beach

The City of Miami Beach Planning Board and the Historic Preservation Board have approved the redevelopment of Haddon Hall, a 1940s-era hotel that’s currently operating as Axel Beach Miami-South Beach. The organizations unanimously gave Keyah Real Estate Group’s plans the greenlight for a seven-story, 262-room hotel.

Miami Ranked 2nd Among Top Targets for Commercial Real Estate Investment in 2025, Survey Finds

A recent survey of commercial real estate investors ranked Miami #2 among the most attractive markets for investment for the second consecutive year, according to CBRE’s 2025 U.S. Investor Intentions Survey. Investors are strategically focusing on gateway markets offering discounts and high-growth Sun Belt markets. Miami ranked just behind Dallas, which maintains…

Retail Space Sells for $2.4M at The Rider Residences in Miami’s Midtown-Wynwood Corridor

Miami-based developers Rilea Group and Ciprés have closed on a $2.4 million sale for a 1,704-square-foot retail space at The Rider Residences, a 12-story, 146-unit condominium planned at 94 NE 29th Street at the intersection of Midtown and Wynwood. The sale price equates to $407 per square foot, marking the second-highest retail sale price per square foot in the area…

Terra Breaks Ground on Upland Park in West Miami-Dade, A $1 Billion Transit-Oriented Development

Terra has officially broken ground on Upland Park, a $1 billion mixed-use community that will transform the Dolphin Park-and-Ride Transit Terminal Facility into a 47-acre, transit-oriented development. Conceived in partnership with Miami-Dade County, the project will bolster public transit ridership while anchoring the new East-West Corridor of the County’s SMART…

Miami-Based Developer Proposes Complex with Workforce Housing at 8445 S.W. 94th Street in Kendall

A Miami-based developer has filed a pre-application for a multi-family housing community in Kendall. 8445 Galloway LLC wants to proceed with a six-story apartment building, requiring 53,218 square feet of new construction. Current plans call for 41 residences—10 of which would be designated as workforce housing. According to Miami-Dade County records, a family of four…

Development district to finance Freedom Park improvements

The 58-acre public park promised in the Miami Freedom Park project will be backed by a dedicated fund and district, securing its maintenance, while officials are also committing $10 million in future funding to improve parks across the city. During the Feb. 13 meeting, the Miami City Commission approved two resolutions to secure funding for the maintenance…

Noguchi-designed fountain flows again, but higher, in Bayfront Park

Water is once again flowing through the newly renovated fountain at Bayfront Park, where its historic design meets modern enhancements. City officials gathered at Bayfront Park last week for an evening ribbon-cutting ceremony as the sunset and the Mildred and Claude Pepper Fountain’s vibrant, colorful display took centerstage. After decades of disuse, the iconic downtown…

Shoreline Review Application Submitted for 39-Story ‘Isle of Dreams’ at 1400 79th Street Causeway

A shoreline development review application has been submitted for Isle of Dreams, a 39-story mixed-use tower planned at 1400 79th Street Causeway in North Bay Village. Developed by Sunbeam 1400, LLC, an affiliate of Sunbeam Television,  and designed by Arquitectonica, the project marks the first phase of the Sunbeam NBV Special Area Plan (SAP), which was approved in 2022.

Lease roundup: Monarch, Tourmaline score Eastdil, Varonis and other office tenants in Brickell

Monarch Alternative Capital and Tourmaline Capital Partners scored five new leases and two renewals at their Brickell office tower. In the biggest deal, New York-based cybersecurity firm Varonis leased 17,900 square feet at the 28-story building at 801 Brickell Avenue, according to a news release from the landlords’ broker. Also, investment manager Fengate Capital…

Targeting Broward industrial sites, Walton Street and Lincoln Property buy former Bang Energy Weston HQ for $44M

Walton Street Capital and Lincoln Property Company are gunning for Broward County industrial sites, paying $43.7 million for a Weston warehouse four months after acquiring a Sunrise facility for nearly $19 million. Chicago-based Walton Street, led by Eric Mogentale and Jeffrey Quicksilver, and Dallas-based Lincoln Property, led by Clay Duvall and David Binswanger…

Kimco wants to replace movie theater with sporting goods store at Oakwood Plaza in Hollywood

Kimco Realty plans to replace a movie theater at its aging Hollywood shopping center with a 120,000-square-foot Dick’s Sporting Goods store. It would be the first phase of Kimco’s planned long-term redevelopment of the Oakwood Plaza just east of I-95 between Sheridan Street and Stirling Road. Kimco, a Jericho, New York-based real estate investment trust, is seeking approval…

City Officials to Consider Rezoning Request for Mixed-Use Project at 426 N.E. 5th Street in Hallandale Beach

Hallandale Beach’s Planning and Zoning Board (PZB) intends to review a proposal that would replace a trailer park with a mixed-use venture. Seville General Partners, which owns the 8.5-acre property that currently hosts the Seville Mobile Home Park, is seeking a rezoning change that would allow residences and retail and office space. Civil engineer Kimley-Horn has created…

Coastline hit with $5.8M foreclosure on Hallandale Beach dev site, as South Florida debt woes continue

A developer planning a medical office building in Hallandale Beach was hit with a $5.8 million foreclosure suit on the site. The case comes as debt woes, including foreclosures and bankruptcies, continue in South Florida amid elevated interest rates, skyrocketing insurance, an office and apartment leasing slowdown and other economic headwinds.

Developer plans 750-unit multifamily project in Hallandale Beach, amid continued redevelopment of South Florida mobile home parks

A developer could replace the Seville Mobile Home Park in Hallandale Beach with a 750-unit mixed-use, multifamily project, amid a surge in the redevelopment of South Florida mobile home communities. Seville General Partners, led by Paul Rosen, is asking for a rezoning of the 7-acre site at 426 Northeast Fifth Street and 515 North Federal Highway that would allow for six mid-rise…

Developer Seeks $6M CRA Incentive for 121-Unit Mixed-Use Project in Historic Sistrunk Neighborhood in Fort Lauderdale

A local developer is seeking $6 million in incentives from the Fort Lauderdale Community Redevelopment Agency (CRA) to support a mixed-use development in the Historic Sistrunk neighborhood. The proposal, part of the CRA’s Development Incentive Program, aims to stimulate economic growth in the historically Black community located just west of Flagler Village.

Related lists Fort Lauderdale apartment tower for $230M

Related Group is ready to sell a recently completed apartment tower in downtown Fort Lauderdale, asking nine figures. The Coconut Grove-based development firm, led by Jorge Pérez and his sons Jon Paul and Nicholas Pérez, is listing Veneto Las Olas at 201 South Federal Highway with an asking price of $230 million, said CBRE’s Robert Given.

DWS Sells Fort Lauderdale Office Tower for $220M

The office building at 401 E. Las Olas Blvd. rises 23 stories in Fort Lauderdale, Fla.’s financial district. Image courtesy of Square2 Capital The partnership of Highline Real Estate Capital, Square2 Capital and Lone Star Funds has acquired 401 E. Las Olas Blvd. in Fort Lauderdale, Fla.’s financial district. CBRE represented the seller of the 410,561-square-foot office…

Pompano Beach Porsche dealership scores $52M construction loan for new showroom and offices

Champion Porsche is fueling up construction of its new Pompano Beach home after nabbing a $52 million loan. Wells Fargo Bank provided the financing to the luxury car dealership’s owner, Copans Motors, led by Mitra Maraj, records show. Copans’ general contractor, Fort Lauderdale-based Stiles Corporation, recently broke ground on the planned two-story building…

Related Ross Seeks Rezoning for Mixed-Use Development at K Park Site in Wellington

A rezoning application is moving forward for a 66.3-acre site in Wellington, where Related Ross, led by billionaire developer and Miami Dolphins owner Stephen M. Ross, plans to develop a large-scale mixed-use project. The site, K Park, is located at 10400 Stribling Way and is currently designated for community facilities and commercial uses. The Village of Wellington’s Planning…

Video: Costar Director of Office Analytics Phil Mobley Provides Office Sector Update, Forecast & Opportunities

The State of the Office Market in 2025: Trends, Challenges, and Opportunities The office real estate sector continues to evolve in the wake of economic shifts, interest rate fluctuations, and changing workplace dynamics. Recently, America’s Commercial Real Estate Show, welcomed Phil Mobley, National Director of Office Analytics at CoStar, to discuss the current state of the office market…

Climate Change Definitions & Progress – A New Climate Series for CRE Professionals

Last Week, J.P. Morgan launched a new climate series, called Climate Intuition. The initial piece, “Navigating the new climate era: Building intuition for strategic decision-making,” provides a baseline with definitions of common climate terms and how they’re connected to economic and business activity. It’s written by climate scientist Dr. Sarah Kapnick who returned…

Construction Contractor Perspectives In the Age of Tariff Threats

Following up on our General Contractor Survey it’s a tale of apprehensive optimism. To begin on a positive note, 54% of our 13 surveyed general contractors anticipate that in 2025 they will have more work than in 2024. Only one of the 13 said they would have less work. I read a couple of insights into this statistic. First, for contractors, 2024 was a slower year than anticipated…

CMBS Troubled Loan Tracker: A Calm Start to 2025 After a Tough 2024 

Summary Over the second half of 2024, several challenges for commercial mortgage-backed securities (CMBS) borrowers manifested in delinquency rates that ticked up persistently month-over-month. The predominant headwinds continued to be high interest rates, significant maturities, slowing growth in property revenues, and a grueling, slow recovery for the office sector.

Video: Density CEO Andrew Farah Discusses Measuring Utilization in Government Buildings

Analyzing the Future of Federal Real Estate The federal government is one of the largest users of commercial real estate in the United States, with a vast portfolio managed largely by the General Services Administration (GSA). On a recent episode of America’s Commercial Real Estate Show, the show’s host sat down with Andrew Farah, co-founder and CEO of Density…

Prologis Says Warehouse Leasing Rises After U.S. Election Eases Uncertainty

The world’s largest industrial developer and landlord said a burst of leasing since the U.S. November election has bolstered the company’s expectations for accelerating warehouse demand this year. Prologis signed a company record of more than 60 million square feet of leases in the fourth quarter, with most of the deals signed in the weeks after the Nov. 5 election reduced…

For Some CRE Owners, Insurance Now Gobbles Up Double the Revenue 

Since around 2018, property insurance costs began a steady march upward, almost universally across commercial real estate (CRE), broadly forcing property owners and lenders to strategically confront the reality of soaring premiums and shrinking availability. But much of CRE has also enjoyed significant rent growth, which has seemingly muted the overall impact to bottom line…

Florida bill would scrap Citizens insurance for condo associations that fail safety rules, boost financial transparency over condo-hotels

Florida Rep. Vicki Lopez filed a bill that would limit the state’s insurer of last resort, Citizens Property Insurance, to condo associations that are abiding by safety laws passed after the deadly Surfside collapse. House Bill 913, filed by Lopez, a Republican whose district includes Key Biscayne, takes aim at other aspects of the state Condo Act, including seeking to impose…

Terra Breaks Ground on Upland Park in West Miami-Dade, A $1 Billion Transit-Oriented Development

Terra has officially broken ground on Upland Park, a $1 billion mixed-use community that will transform the Dolphin Park-and-Ride Transit Terminal Facility into a 47-acre, transit-oriented development. Conceived in partnership with Miami-Dade County, the project will bolster public transit ridership while anchoring the new East-West Corridor of the County’s SMART…

$1B Upland Park Transit-Oriented Development Breaks Ground

A groundbreaking ceremony was held yesterday for the largest public-private transit-oriented development in Miami-Dade County’s history. Upland Park is being built next to the Dolphin Park-and-Ride Transit Terminal Facility . It is being developed on land that was producing zero public revenues previously. The new development will generate over one billion dollars in new rent…

Miami-Based Developer Proposes Complex with Workforce Housing at 8445 S.W. 94th Street in Kendall

A Miami-based developer has filed a pre-application for a multi-family housing community in Kendall. 8445 Galloway LLC wants to proceed with a six-story apartment building, requiring 53,218 square feet of new construction. Current plans call for 41 residences—10 of which would be designated as workforce housing. According to Miami-Dade County records, a family…

Harvey Hernandez, Two Roads selling piece of Miami River dev site

Developer Harvey Hernandez and Two Roads Development are under contract to sell a portion of their Brickell assemblage along the Miami River, The Real Deal has learned. Miami Beach-based Prosper, a development firm led by Jay Roberts, is working with an undisclosed partner to acquire the 1-acre property at 66 Southwest Sixth Street and 625 Southwest First Avenue…

Development district to finance Freedom Park improvements

The 58-acre public park promised in the Miami Freedom Park project will be backed by a dedicated fund and district, securing its maintenance, while officials are also committing $10 million in future funding to improve parks across the city. During the Feb. 13 meeting, the Miami City Commission approved two resolutions to secure funding for the maintenance…

Noguchi-designed fountain flows again, but higher, in Bayfront Park

Water is once again flowing through the newly renovated fountain at Bayfront Park, where its historic design meets modern enhancements. City officials gathered at Bayfront Park last week for an evening ribbon-cutting ceremony as the sunset and the Mildred and Claude Pepper Fountain’s vibrant, colorful display took centerstage. After decades of disuse, the iconic downtown…

Shoreline Review Application Submitted for 39-Story ‘Isle of Dreams’ at 1400 79th Street Causeway

A shoreline development review application has been submitted for Isle of Dreams, a 39-story mixed-use tower planned at 1400 79th Street Causeway in North Bay Village. Developed by Sunbeam 1400, LLC, an affiliate of Sunbeam Television,  and designed by Arquitectonica, the project marks the first phase of the Sunbeam NBV Special Area Plan (SAP), which was approved in 2022.

duPont REGISTRY Group Partners with Fortune to Develop Tower for Car Collectors in Magic City Innovation District

duPont REGISTRY Group, Fortune International Group, and Pininfarina have partnered to develop duPont REGISTRY Tower, a luxury tower designed for automotive collectors and high-end businesses in Miami’s Magic City Innovation District. The project will merge automotive culture with premium office and lifestyle spaces, offering a first-of-its-kind destination…

South Florida’s older, suburban office buildings ripe for deep discounts and conversions: panel

South Florida’s office market is in the midst of a deep exhale after years of pandemic-fueled momentum, according to members of Avison Young’s top brass. “I think we are taking a breath in South Florida right now,” said Greg Martin, a principal in the brokerage’s Fort Lauderdale/Boca Raton office. “In the last 12 months particularly, the nation has caught up with us.

Developer Proposes ‘Gallery in the Grove’ for 3170 Mundy Street in Coconut Grove

Related Urban Development Group has proposed a high-rise, mixed-income tower in Coconut Grove. The aptly named Gallery in the Grove would measure 20 stories above grade and comprise 248,265 square feet of new construction. It would be one of the tallest buildings in the area. Gallery in the Grove would feature 345 apartments; the South Florida Business Journal shares…

Two Roads’ Edgewater condo buyout at impasse: What could happen next?

It’s been nearly a year since a Florida appellate court entered a ruling in favor of the eight holdout unit owners at a bayfront condo in Miami’s Edgewater, putting the developer’s plans to build a luxury Edition Residences project in limbo. The developer, Miami and West Palm Beach-based Two Roads, and the holdout unit owners at Biscayne 21 still have not reached an agreement.

One Kane Breaks Ground in Bay Harbor Islands, Secures First Tenant BondST

Construction is now underway at One Kane, a 126,000-square-foot Class A office building rising at 9551 E Bay Harbor Drive in Bay Harbor Islands. The seven-story project will introduce Miami’s first office building with private boat access, offering reserved dock slips and boat valet service alongside a suite of high-end amenities. Developed by Taubco and Landau Properties…

Related Urban’s plan for $148M Coconut Grove mixed-income project nabs committee approval

Related Urban’s potential replacement of a Coconut Grove public housing project for seniors with a $148 million mixed-income multifamily project is gaining steam. Miami-Dade County Commission’s housing committee on Tuesday voted unanimously and without discussion in favor of Mayor Daniella Levine Cava negotiating a 99-year lease with Related Urban, led by President Albert Milo…

Indian Creek Residences & Yacht Club Tops Out in Bay Harbor Islands

Indian Creek Residences & Yacht Club has officially topped out in Bay Harbor Islands, reaching its full eight-story height. Developed by Landau Properties and designed by Kobi Karp Architecture & Interior Design, the boutique waterfront condominium is now over 80 percent sold, with only two residences remaining. Closings are anticipated to begin by the end of the year.

Baywood, Dolphin Capital score $36M loan for Wynwood’s Moxy hotel, as they bring in new partner

When DolphinBay Hospitality sold a majority stake in the Moxy Miami Wynwood hotel recently, the joint venture also secured $35.5 million in new financing. DolphinBay obtained the loan from Synovus Bank on Jan. 30, records show. The same day, Istanbul-based Süzer Group paid $99 million to become 52 percent owner of the recently completed 120-key hotel at 255 Northwest 25th Street.

Plans for 68-Story One Brickell City Centre Canceled Amid Market Shifts

Swire Properties has canceled its plans for One Brickell City Centre, a proposed 68-story office tower in Miami’s Brickell neighborhood. The decision comes after challenges in securing sufficient pre-leasing commitments, leading the company to list the 2.8-acre site at 700 Brickell Avenue and 799 Brickell Plaza for sale through brokerage firm CBRE….

Affordable Housing Development ‘Rainbow Village’ Starts Construction at 2000 NW 3rd Avenue in Miami

Construction has started on Rainbow Village, a mixed-use affordable housing complex in Miami. The 310-residence development will offer studio to four-bedroom homes, with the project itself comprising close to 700,000 square feet of new construction. Yield PRO shares that residency will be available to those earning at or below 30, 50, 60, 70, and 80 percent of the area…

Cymbal DLT scores $114M refi for Live Local Act apartment complex in Miami Gardens, as South Florida loans flow

Asi Cymbal scored a $114 million refinancing for a 341-unit Live Local Act apartment complex in Miami Gardens, as loans keep flowing in South Florida. Apollo Global Management and RXR Realty Investments provided the loan, which paid off the $102.5 million construction financing for the 14-acre Laguna Gardens at 20775 Northwest 17th Avenue, according to the developer’s news release.

Housing Trust Group Breaks Ground on $185M Affordable Housing Development in Miami

Housing Trust Group has broken ground on Rainbow Village, a $185 million affordable housing development located at 2000 N.W. Third Ave. in Miami.  Spanning 698,000 square feet, the community will feature 310 units alongside 12,000 square feet of retail space, 50,000 square feet of amenities and 442 parking spaces.  Units will be offered in studio, one-, two-, three…

The Residences at 1428 Brickell Secures Master Permit, Clearing the Way for Vertical Construction

Master permit approval has been secured for The Residences at 1428 Brickell, a 70-story, 195-unit residential tower in the heart of Brickell. Developed by Ytech and led by Yamal Yidios, the approval sets the stage for construction to move full speed ahead. Unlike phased permitting, the master permit allows the project to proceed without interruption, keeping…

Historic preservation board greenlights Keyah’s plans for new Miami Beach hotel

The Miami Beach Historic Preservation Board is keen on Keyah Real Estate Group’s plan to reshape nearly an entire Art Deco block between Washington and Collins avenues. On Feb 11, the board unanimously approved by a 5-0 vote a new 262-key hotel project by Aventura-based Keyah and Grup Peralada, a family office based in Barcelona, Spain.

Keyah Real Estate Group Unveils Plans for a New Iconic Miami Beach Hotel

Keyah Real Estate Group, a dynamic, rising hospitality developer with footprints in Miami and New York, is thrilled to unveil plans for a 262-key multi-structure boutique hotel, that is set to redefine the Miami Beach hospitality scene and become the city’s next hotel, wellness, and F&B destination. The project has just secured unanimous approvals from both the City of Miami Beach…

duPont Registry Tower Announced For Miami

Plans were announced this morning for a luxury tower for car collectors in Miami, to be called the duPont Registry Tower. duPont Registry is partnering with Miami developer Fortune International and Italian design firm Pininfarina on the project. The tower will house an invitation-only club for collectors of exclusive cars. It will be located in the upcoming Magic City…

Phased Vertical Permit Issued For 67-Story JEM Private Residences

The 67-story JEM Private Residences at Miami Worldcenter has been issued a phased vertical permit. Miami’s Building Department issued the permit this morning, allowing vertical construction work to commence. The 67-story tower is planned to rise to a height of over 700 feet. It will include 259 luxury condo units on the upper levels, and 530 multi-family units on the lower levels.

$25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport Arranged

Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Avenue in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial…

Demolition Continues At One Bayfront Plaza Supertall Site

Demolition is continuing at the One Bayfront Plaza site in the heart of downtown Miami, new photos by Phillip Pessar show. The 19-story, nearly 70-year-old building is being demolished to make way for a new supertall tower. Demolition is taking place in phases. It began in 2023 with interior demolition, and recently progressed to demolition of its massive parking garage and retail…

Lease roundup: Morgan Stanley renews at Flow and Canada Global’s Aventura Corporate Center

Morgan Stanley kept its offices at the Aventura Corporate Center. The New York-based financial services behemoth renewed its 42,400-square-foot lease at 20801 Biscayne Boulevard in Aventura, according to a news release from the landlord’s broker. Christina Jolley of Blanca Commercial Real Estate represented the landlord. Adam Bernstein and Zach Wendelin of JLL…

DWS Sells Fort Lauderdale Office Tower for $220M

The office building at 401 E. Las Olas Blvd. rises 23 stories in Fort Lauderdale, Fla.’s financial district. Image courtesy of Square2 Capital The partnership of Highline Real Estate Capital, Square2 Capital and Lone Star Funds has acquired 401 E. Las Olas Blvd. in Fort Lauderdale, Fla.’s financial district. CBRE represented the seller of the 410,561-square-foot office asset…

Lone Star Funds, Highline, Square2 buy Bank of America tower in downtown Fort Lauderdale for roughly $220M

Three investment firms bought the Bank of America Plaza at Las Olas City Centre in downtown Fort Lauderdale for about $220 million, marking the second major office sale in the city this week. Lone Star Funds, through its real estate fund VII, Highline Real Estate Capital and Square2 Capital bought the 23-story building at 401 East Las Olas Boulevard, according to news…

Benjamin lists Fort Lauderdale dev site for over $33M, as construction prices continue to climb

Benjamin Companies put a 2.4-acre multifamily development site in Fort Lauderdale on the market for more than $33 million, amid elevated construction costs and slower rental growth. Garden City, New York-based Benjamin Companies scored approval in 2022 for a pair of 33-story towers with 542 apartments, combined, and 13,800 square feet of commercial space…

Bradford Allen pays $208M for Las Olas Centre I & II offices in downtown Fort Lauderdale

Bradford Allen Investment Advisors bought a two-building office complex in downtown Fort Lauderdale for $208 million, marking the biggest office sale this year. Chicago-based Bradford Allen bought the Las Olas Centre I & II at 350 and 450 East Las Olas Boulevard from DWS Group, according to the buyer’s news release, which doesn’t include the price. A source familiar…

Developer Seeks $6M CRA Incentive for 121-Unit Mixed-Use Project in Historic Sistrunk Neighborhood in Fort Lauderdale

A local developer is seeking $6 million in incentives from the Fort Lauderdale Community Redevelopment Agency (CRA) to support a mixed-use development in the Historic Sistrunk neighborhood. The proposal, part of the CRA’s Development Incentive Program, aims to stimulate economic growth in the historically Black community located just west of Flagler Village.

Related, BH and Pebb clear final hurdle for Office Depot campus mixed-use project

A partial redevelopment of Boca Raton’s Office Depot campus is set to go forward after receiving final city zoning approval. The Boca Raton City Council on Tuesday unanimously approved a site plan to demolish an existing office building to make way for an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space and a 36,400-sf…

Terra, Frisbie win bid for Boca Raton City Hall redevelopment, plan 2M-plus sf mixed-use complex

Davd Martin’s Terra and Frisbie Group won a coveted bid to redevelop Boca Raton’s government campus, where the firms plan a 2.5 million-square-foot mixed-use complex. Terra and Frisbie beat three other contenders, including second-ranked bidder Related Ross, led by billionaire Steve Ross. On Tuesday, the Boca Raton City Council voted to select Coconut…

Related Ross Seeks Rezoning for Mixed-Use Development at K Park Site in Wellington

A rezoning application is moving forward for a 66.3-acre site in Wellington, where Related Ross, led by billionaire developer and Miami Dolphins owner Stephen M. Ross, plans to develop a large-scale mixed-use project. The site, K Park, is located at 10400 Stribling Way and is currently designated for community facilities and commercial uses. The Village of Wellington’s Planning…

Prologis Says Warehouse Leasing Rises After U.S. Election Eases Uncertainty

The world’s largest industrial developer and landlord said a burst of leasing since the U.S. November election has bolstered the company’s expectations for accelerating warehouse demand this year. Prologis signed a company record of more than 60 million square feet of leases in the fourth quarter, with most of the deals signed in the weeks after the Nov. 5 election reduced econo…

For Some CRE Owners, Insurance Now Gobbles Up Double the Revenue 

Since around 2018, property insurance costs began a steady march upward, almost universally across commercial real estate (CRE), broadly forcing property owners and lenders to strategically confront the reality of soaring premiums and shrinking availability. But much of CRE has also enjoyed significant rent growth, which has seemingly muted the overall impact to bottom line…

Reducing Costs & Increasing Value: Climate-related Trends for CRE in 2025 

While some elements of sustainability may face growing political headwinds, climate risk is engrained in CRE. Investors and lenders are focused on identifying opportunities to reduce costs, while also determining the long-term implications for asset value. Energy efficiency and resilience to extreme events address both of these concerns and thus are expected to stay…

Commercial Property Values Drive Optimism Around 2025 Investments, TD Bank Survey Finds

Despite rising energy costs, office vacancies, interest rates and economic uncertainties as the industry adjusts to a new administration, recent insights garnered from TD Bank’s survey at the CRE Finance Council Miami found that commercial real estate leaders are still excited for the opportunities this year could bring. More than 200 commercial real estate professionals…

Live Local Project The HueHub with 4,000 Units Moving Through Site Plan Approval

A massive Live Local development is continuing through the site plan approval process. The development name is listed as The HueHub in plans prepared by architect Arquitectonica and submitted to the county. The first site plan application for The HueHub was submitted in July. Yesterday, the third version of plans was submitted following the first several phases of review.

The Residences At 1428 Brickell Gets Master Construction Permit

Developer Ytech has been issued a master construction permit for The Residences at 1428 Brickell. The development is now on track to begin going vertical and make its impact on the Miami skyline. By obtaining a master permit first, the developer ‘underscores its commitment to delivering the project on schedule without compromise.’

Brickell City Centre Retail Remains 100% Leased At The Start Of 2025

Swire Properties says that its popular Brickell City Centre shopping mall continued to remain 100% occupied at the end of 2024. It is the second year in a row that the shopping center was 100% occupied. Brickell City Centre’s mall was also listed as 100% occupied at the end of 2023. That was the first time it had ever reached 100% since the complex opened in 2016.

$185M Rainbow Village Breaks Ground Next To Wynwood

Construction is now underway at Rainbow Village, according to a press release. The $185m mixed-use development is being built on county-owned land at the border of Wynwood in Overtown. Rainbow Village will include: 310 affordable housing units almost 12,000 square feet of retail more than 50,000 square feet of amenity space 442 parking spaces Units will be income restricted…

Contractor Selected For Riverside Wharf, Groundbreaking June

The developers of Riverside Wharf have selected a contractor and announced a groundbreaking date, according to the Herald. The project is now said to be valued at $300m. Moss Construction will serve as the General Contractor for the development. Groundbreaking is planned for June, with completion planned for 2027. Riverside Wharf will include a 167-room Dream hotel…

It was a spot to party on the Miami River. Now a hotel, club and raw bar are moving in

A slice of land on the Miami River where people had gathered to party, drink, do Sunday yoga and eat food truck fare will be transformed into a major waterfront development featuring a hotel, entertainment complex and an offshoot of a popular seafood house. The Wharf Miami closed in August 2023, but details and a timeline of what’s next for the now-vacant site…

World’s Largest Cruise Terminal Opens At PortMiami

MSC’s new terminal at PortMiami welcomed passengers for the first time on February 8. Currently, the terminal isn’t yet fully completed, around three years after groundbreaking. When it is full operational, the terminal will be able to handle three ships and 36,000 passengers simultaneously. There are reports suggesting that the cost to built the terminal has increased from $350M…

New Renderings & Sales Records For Brickell’s Mandarin Oriental Residences

Swire Properties has released new renderings and announced new sales milestones for The Residences at Mandarin Oriental in Brickell. The development will include two towers, one rising 850 feet with 228 residences and another rising 426 feet with 66 private and 28 hotel residences, along with a flagship Mandarin Oriental hotel. Condo units have been selling for a blended…

661-Unit Metro Parc North Transit-Oriented Development in Hialeah Breaks Ground

A groundbreaking ceremony took place yesterday for Metro Parc North, a transit-oriented development. The development will be a highly amenitized, Class-A building – said to be one of the first of its kind in the Hialeah area. It will have 661 rental units, and over 15,000 square feet of retail. The development will be located on a full city block steps away from the Tri-Rail/Metrorail…

Baron Begins Hialeah Luxury Project

Baron Property Group, a Miami- and New York-based developer, has broken ground on a 661-unit luxury multifamily property adjacent to the Metrorail station in Hialeah, Fla. Metro Parc North will rise next to Hialeah Hospital, one of the largest hospitals in Florida. Located at 983 E. 26th St., Metro Parc North is next to Metro Parc, Baron Property Group’s 559-unit mixed-use…

Kendall Parkway development back on fast track

A long-stalled bid to cut driving time from West Kendall to downtown by adding 13 miles to SR 836 is set to rev up after the county pulled out of a war over control of five tollways. Commissioners voted unanimously last week to exit the fight, clearing the way for the Greater Miami Expressway Agency to put Kendall Parkway construction in high gear.

Miami’s Bayfront Park may come under park department control

Miami officials are considering dissolving the agency responsible for overseeing the operations of downtown’s two waterfront parks and transferring its duties to a new division within the city’s Parks and Recreation Department. The Miami City Commission is to review legislation today (2/13) that would repeal part of the city code that established the Bayfront Park…

Commissioners To Vote On Abolishing Bayfront Park Management Trust

Miami Commissioners are scheduled to vote on a resolution that would abolish the Bayfront Park Management Trust. The trust was initially created to manage Bayfront Park. Later, the trust took control of Museum Park (which the city officially now calls Maurice Ferre Park). A total of three commissioners must vote in favor in order for the trust to be abolished…

Miami aims to preserve the green at new Freedom Park

As work on Miami Freedom Park progresses, the City of Miami is taking steps to secure funding for the upkeep of the 58-acre public park promised as part of the development deal. Miami commissioners are to vote today (2/13) on two key measures designed to secure funding for maintaining and enhancing the expansive green space guaranteed as a public benefit of the Miami…

Careful logistics let PortMiami handle record 13 ships in a day

Preparations and planning were the framework for smooth sailing when PortMiami seamlessly welcomed a record number on ships on a single day on Saturday in a dress rehearsal for even more ship traffic. Feb. 8 was a historic day at the port, said Hydi Webb, PortMiami director and CEO, as, for the first time, 10 cruise ships and three cargo ships were at the port at the same time.

Revolutionary vertical air cargo hub at MIA is five years away

A revolutionary vertical center that will increase Miami International Airport’s cargo capacity by 50% is working through 18 months of due diligence before construction can begin, with actual operation of the center still five years away, aviation officials say. A 40-year lease for Miami Gateway Partners to spend $400 million to develop and then operate the cargo center…

661-Unit Metro Parc North Breaks Ground in Hialeah

Baron Property Group has officially broken ground on Metro Parc North, a 661-unit residential development in Hialeah. Designed by Modis Architects and built by KAST Construction, the project will introduce Class-A multifamily housing with a range of amenities, located adjacent to the Metrorail station and Hialeah Hospital. Completion is expected in Q3 2027….

$35.5M Loan for Moxy Miami Wynwood Hotel Arranged

Atlanta-based Hunter Hotel Advisors has arranged a $35.5 million loan for the recapitalization of the Moxy Miami Wynwood, a 120-room hotel that opened in October. The developer of the eight-story hotel was a 50/50 joint venture between Baywood Hotels and Dolphin Capital Partners. Charlie Ryan and Adeel Amin of Hunter’s capital markets team arranged the loan through…

Baywood, Dolphin Capital score $36M loan for Wynwood’s Moxy hotel, as they bring in new partner

When DolphinBay Hospitality sold a majority stake in the Moxy Miami Wynwood hotel recently, the joint venture also secured $35.5 million in new financing. DolphinBay… The same day, Istanbul-based Süzer Group paid $99 million to become 52 percent owner of the recently completed 120-key hotel at 255 Northwest 25th Street. Charlie Ryan and Adeel Amin…

The Residences at Mandarin Oriental, Miami Reveals 100K SF of Amenities

Swire Properties has unveiled the first images of the extensive amenities at The Residences at Mandarin Oriental, Miami, located on Brickell Key. The development offers over 100,000 square feet of resort-style amenities within a lush, multi-tiered podium designed by Thai landscape firm Shma. The Residences will feature 11 pools—the most in any new Miami development…

Lennar Plans 178-Unit Townhome Development in Hialeah, FL

Lennar is under contract from Miami Lakes-based Ita Regio LLC to purchase an 18.2-acre property in Hialeah, FL. The South Florida Business Journal reports that 15.2 acres could be developed into a single-family housing development that would feature 178 townhomes. Every home would offer three bedrooms, and the complex itself would offer 356 surface parking spots…

In Park West, 65-Story E11EVEN Tower Has Topped Off

The first 65-story tower at E11EVEN Club Hotel & Residences has topped off. Developer PMG and E11EVEN Partners are building the dual-tower development in Park West. The first tower, E11EVEN Club Hotel & Residences, features residences and hotel rooms, while the second tower, E11EVEN Club Residences Beyond, offers condominiums. A foundation pour for the first tower…

Brickell’s Mercedes-Benz Places Launches Sales For Tower 2

Mercedes-Benz and JDS Development Group have launched sales for Tower 2 at Mercedes-Benz Places. The 67-story building is already under construction. The design of the cuboid tower is said to embody the Mercedes-Benz brand aesthetic. “We are transferring our significant automotive design expertise into architecture and with that make a strong…”

171-Unit Domus Brickell Park Tops Off

Domus Brickell Park has become the first development in Brickell to top off this year. With the shell now complete, the tower is on track to obtain a temporary certificate of occupancy by the end of 2025, with its hotel and residences on schedule to open in Q1 of 2026. The 12-story development will include 171 fully furnished, short-term friendly units. More than 60% of units…

New Edgewater Tower Submitted To FAA At 333 Feet

The planned height for Metro Edgewater’s second tower has been submitted to the FAA. Metro Edgewater’s first 32-story tower reached completion in 2023. The second tower, Metro Edgewater 2, was first revealed in a hearing before the Urban Development Review Board in 2024. It is planned to rise 28 stories. The height will reach 333 feet above ground, or 341 feet above sea…

Witkoff to revive Blavatnik and Scher’s long planned Ocean Terrace project in Miami Beach

Witkoff Group formed a joint venture with Ocean Terrace Holdings, reviving development plans for a mixed-use luxury condo project in North Beach, The Real Deal has learned. Witkoff, led by Chairman Steve Witkoff and his son, CEO Alex Witkoff, is joining existing partners Alex Blavatnik and Sandor Scher on Ocean Terrace in Miami Beach. The new partnership closed on…

E11EVEN® Club Hotel & Residences Tower One Tops Off in Downtown Miami

Construction has officially topped off at E11EVEN® Club Hotel & Residences Miami, marking a significant milestone for the dual-tower luxury development rising in Downtown Miami’s Park West neighborhood. Developed by PMG and E11EVEN Partners, the project is redefining resort-style, entertainment-driven living in the city’s evolving urban core….

MG, Vertical launch condo sales for Alhambra Parc in Coral Gables

MG Developer and Vertical Developments are launching sales for their planned Coral Gables project, Alhambra Parc. The 78-unit condominium is planned for 33 Alhambra Circle, according to a press release. MG Developer, led by Alirio Torrealba, landed a $14.5 million preconstruction loan for the project in October. Torrealba partnered with co-developer…

BGO & Dermot Complete Solar Panel Installation at Cordoba in Downtown Doral

BGO and The Dermot Company have completed the installation of a $1.7 million solar energy system atop the parking garages at Cordoba, a 454-unit apartment community in Downtown Doral. The new system is expected to generate enough electricity to cover 50% of the energy needs for the property’s common areas, including its amenity spaces….

Reserve Padel Opens First Permanent Club at SoLé Mia in North Miami

Reserve Padel has officially opened its first permanent club at SoLé Mia, a 184-acre master-planned community in North Miami developed by LeFrak and Turnberry. Located at 2251 NE 146th Street, the new 100,000-square-foot facility features ten professional padel courts, including six outdoor and four indoor courts with 35-foot ceilings, along with two dedicated pickleball…

Aconcagua Developers Proposes 162-Unit Apartment for 12867 S.W. 248th Street in Homestead

Miami-based Aconcagua Developers has proposed a mid-rise housing development in southern Miami-Dade County. The unnamed complex would measure eight stories and feature 162 units. Residences would include one-bedroom and two-bedroom floorplans, measuring 590 to 985 square feet each. Communal amenities would feature a dog park and ground-floor swimming pool.

Aconcagua proposes 162-unit apartment building in Princeton, amid a development rush on south Miami-Dade

A developer proposes a 162-unit apartment project in Princeton, amid a continued rush on south Miami-Dade County. Aconcagua Developers wants to build an eight-story building on a 3-acre site on the northwest corner of Southwest 248th Street and Southwest 128th Avenue in an unincorporated area of the county, according to an application filed late last month.

BH adds to portfolio, pays $83M for waterfront North Bay Village apartment complex

BH Group expanded its South Florida portfolio once again, dropping $83 million for a waterfront North Bay Village multifamily project. The Aventura-based firm acquired Wake Biscayne Bay, a complex of three 10-story buildings with 338 apartments at 7501 and 7525 East Treasure Drive, confirmed Isaac Toledano, who leads BH along with his wife, Liat Toledano.

Permit Issued For $2M Island Gardens Sales Center

A construction permit has been issued for a temporary sales center on Watson island. The structure will likely be used to sell condos at an upcoming development. The name on the permit is listed as Island Garden Sales Center. Miami’s Building Department issued the construction permit last month. The temporary facility will have two floors, rising 26 feet in height…

Related Urban wants to bring mixed-income apartments to Coconut Grove

Related Urban is eyeing a public housing site in Coconut Grove for a mixed-income multifamily project. The Miami-Dade County Commission housing committee on Tuesday will review a resolution that would authorize Mayor Daniella Levine Cava’s staff to begin negotiations with Related Urban, led by President Albert Milo. The firm is seeking a 99-year lease…

831-Foot Building Proposed In Downtown Miami

A filing has been submitted to the Federal Aviation Administration for an 800+ foot building in Downtown Miami. The filing was submitted on February 3. It requests approval to build a tower rising to a height of 831 feet above ground, or 840 feet above sea level. The site coordinates submitted with the filing appear to be the same as the Clear Residences property.

Developer files for bankruptcy over North Miami Beach apartment tower dev site, amid dispute with lender

Developer Celal Ozkan filed for bankruptcy on his North Miami Beach development site for a 341-unit apartment tower, marking the latest in his nearly yearlong dispute with the lender. Sky Gardens Residences, an entity tied to Ozkan, CEO of Turkish firm CEO Contract, is pursuing Chapter 11 reorganization on the 1-acre site at 16300 Northeast 19th Avenue.

With Over 75% Of Units Sold, The Perigon Miami Beach Gets $390M Loan

The developers of The Perigon Miami Beach have reached a sales milestone and obtained a massive construction loan, More than 75% of units have been sold, the developers said. Construction financing totaling $390 million has been issued by Eldridge Real Estate Credit. The Perigon will include 73 ultra-luxury condos. The building is being designed by OMA, led by architect…

The Last Carrot in Coconut Grove Forced to Relocate After 50 Years

After 50 years of serving the Coconut Grove community with fresh veggie sandwiches and healthy bites, the Last Carrot must relocate come November. According to Coconut Grove Spotlight, Coral Gables-based developer Allen Morris Company is slated to knock down the tiny strip mall located at 3133 Grand Ave., the home of the Last Carrot, to build a five-story, mixed-use office…

Poof! Judge dismisses foreclosure lawsuit against Masoud Shojaee

In one of the shortest lived foreclosure actions, City National Bank of Florida resolved a loan dispute with developer Masoud Shojaee in less than a month. On Jan. 24, Miami-Dade Circuit Court Judge Beatrice Butchko Sanchez approved the Miami-based bank’s motion to dismiss its lawsuit. Three weeks earlier, City National filed the complaint against Shojaee and an entity…

Launch party at Mercedes-Benz Places oozes pre-pandemic energy

Ugo Colombo walked into the Mercedes-Benz Places sales center launch wearing sunglasses with a light orange tint. Colombo glided through the building, sizing up the finishes for the planned Brickell condo project. The car enthusiast — he owns the luxury car dealership the Collection — is rarely seen at industry events. He was among a handful of developers and hundreds…

Lease roundup: Tech firm Kandji opening East Coast HQ in Coral Gables, Venture X outpost on tap in Miami Lakes

Tech firm Kandji will open its East Coast headquarters in Coral Gables. Kandji, which provides automation-forward Apple device management software, leased 30,000 square feet at 2811 Ponce de Leon Boulevard at The Plaza Coral Gables, according to the tenant’s news release. It will open on March 5. The San Francisco-based firm is led by CEO Adam Pettit.

Equinox preleases 31K sf at Oak Row’s Edgewater project, as it expands in South Florida

Equinox will open at one of Oak Row Equities’ mixed-use multifamily projects in Miami’s Edgewater, as it expands in South Florida, The Real Deal has learned. Equinox preleased 30,700 square feet at the 2600 Biscayne tower at 2600 Biscayne Boulevard, according to representatives for the tenant. The luxury gym is expected to open late next year or early 2027.

The Calta Group Secures $53.7 Million in Financing from Forman Capital for Two Projects in Downtown Hollywood

The Calta Group, led by brothers Ignazio and Gaetano Caltagirone, has announced closing a $53.693 million construction loan for two new rental apartment projects in Hollywood, Florida: Caltopia Hollywood and Caltopia Hollywood II designed by Kaller Architecture. The loans were provided by Forman Capital, under the leadership of Scott Mehlman, with advisory…

Calta lands $54M construction loan for Hollywood apartments, amid South Florida multifamily supply overhang

The Caltagirone brothers’ Calta Group scored a $53.7 million construction loan for a pair of Hollywood apartment projects with a total of 251 units. The deal comes as South Florida is dealing with a multifamily supply overhang following a yearslong construction flurry. Coral Gables-based Calta plans the 151-unit Caltopia Hollywood on a nearly 2-acre site at 2750 Van Buren Street…

Raimundo Onetto’s Alta plans 466-unit condo project on Hollywood site previously slated for apartments

Developer Raimundo Onetto plans a 466-unit wellness-focused condo project near the Hollywood Beach Golf Club, shifting from his previous plan for apartments, The Real Deal has learned. Onetto’s Miami-based Alta Developers will build Gaia Residences as a pair of 18-story towers with 72,000 square feet of amenities on a roughly 2-acre site at 401 North Federal Highway…

Dealership expanding? Craig Zinn Automotive pays $15M for Hollywood church site near its Toyota sales centers

Craig Zinn Automotive Group paid $14.5 million for a Hollywood church building that’s near its existing Toyota dealerships. The Hollywood-based auto dealer, led by CEO Craig Zinn, bought the one-story, 51,700-square-foot building at 1800 North State Road 7 from Hope Church of Christ, according to records and real estate database Vizzda. The building…

Miami Heat Co-Owner Raanan Katz Buys Pembroke Pines City Furniture Store For $15 Million

As someone who closely follows South Florida’s retail and real estate scene, I was intrigued to learn that City Furniture has decided to sell one of its Pembroke Pines locations. This property, located at 11211 Pines Blvd., just traded hands for $15.24 million. The buyer? RK Centers, a firm led by Miami Heat minority owner Raanan Katz—which already owns neighboring…

Miramar Commerce Park Gets New Pharma HQ

Miramar Park of Commerce comprises more than 5 million square feet across numerous low-rise buildings. Image courtesy of CommercialEdge Nearly two years after acquiring Aveva Drug Delivery Systems, DifGen Pharmaceuticals has relocated its corporate headquarters from Princeton, N.J., to Miramar Park of Commerce in Miramar, Fla.

Stiles Corp. Seeks Rezoning Request for Apartment Complex at 8201 to 8151 Peters Road in Plantation

Fort Lauderdale-based Stiles Corp. wants to proceed with a multi-family housing development in Plantation, FL. Currently, it’s seeking approval for a land use amendment and rezoning request of a 22.3-acre property––4.3 acres of which could host the new complex. Plans call for 385 apartments. Configurations include one-bedroom to three-bedroom models…

Boca Raton selects developers to build city hall campus

Two South Florida real estate development companies beat out Related Ross as the city of Boca Raton’s preferred partner to redevelop 30 acres of publicly owned land. The Boca Raton City Council unanimously ranked Boca Raton City Center LLC, a joint venture of David Martin’s Miami-based Terra Group and Palm Beach-based Frisbie Group, as the No. 1 choice…

La Clara condo owners in West Palm, allegedly “stripped” of promised luxury experience, sue development team

Condo owners at La Clara in West Palm Beach were promised a luxurious experience with high-end finishes “smooth and free of imperfections.” But now they’re alleging the finished product was anything but that. The condo association representing owners at the waterfront tower is suing the developer, an affiliate of Toronto-based Great Gulf, and the design…

First look: Vanderbilt reveals renderings for planned $520M West Palm Beach campus

Vanderbilt University revealed renderings offering a first look at its planned $520 million West Palm Beach campus. The proposed campus will span a total of 300,000 square feet, with the aim to serve 1,000 graduate students in tech and business programs when it is completed, according to a press release. Vanderbilt, known as “the Harvard of the South,” tapped Boston-based Elkus…

Video: First Street’s Jeremy Porter; climate risks could erase $1.4 trillion in U.S. property value by 2055

Climate Change and the Future of U.S. Real Estate: $1.47 Trillion at Risk The U.S. housing and commercial real estate markets are on the verge of a major transformation as climate risks escalate. According to a recent study by First Street Foundation, discussed here by First Street’s head of climate implications research Jeremy Porter, extreme weather patterns and rising insurance…

The Atlanta Fed’s REIN Team Looks Back at the Economy in 2024

As 2025 begins, the Atlanta Fed’s Regional Economic Information Network (REIN) looked at 2024 in the rearview mirror using what firms told us over the course of the previous year. Here are our key takeaways, which we will elaborate upon in this article: Growth in demand eased from pandemic-era highs, settling at more historically normal levels. Labor tightness has eased…

Affordable Housing Within America’s Housing Affordability Landscape; Notable Demand Despite Substantial Growth

Housing affordability discussions have become commonplace across the country resulting from  long-term housing supply challenges since the Great Financial Crisis (GFC) and short-term economic volatility through the pandemic and subsequent inflationary period. Despite possessing a variety of local housing ecosystems across America’s metros, housing affordability challenges…

Report: Final Quarter 2024 North American Net Absorption Trends in Industrial, Office Likely Temporary; Multifamily, Retail Net Absorption Trajectories Stickier

Lee & Associates’ 2024 Q4 North America Market Report looks back at the tenant demand, absorption rates and vacancy trends for industrial, office, retail and multifamily sectors nationwide to extrapolate what might be on the horizon for 2025 and beyond. While net absorption in industrial and retail is down from the same period in 2023, the reasons — too much…

Nationally, Five Apartment Communities Sell for Roughly $250 Million or More in 2024

Following record-setting sales in 2021 and 2022, investments in U.S. apartments plummeted in 2023 amid the rising cost of debt and economic uncertainty. However, sales picked back up in 2024. During the year, five apartment communities changed hands for roughly $250 million or more. A total of 5,700 apartment properties changed hands across the U.S. at a value…

Office Loan Maturity Monitor: Another Year in the Books. What Lies Ahead?

Highlights: $487.5 million of CMBS office loans reached fully extended maturity in December, bringing the total for 2024 to $15 billion 27.5% of the loans maturing in December paid off, the third lowest monthly rate of 2024 Full year 2024 saw minimal improvement over 2023, with the full-year payoff rate climbing from 35.9% to 38.5% Debt yield was far and away…

Groundbreaking Ceremony Held for Ella Miami Beach, a 10-Story Condominium at 6940 Abbott Avenue in North Miami Beach

Construction is officially underway on Ella Miami Beach, a 10-story, 103-unit boutique condominium at 6940 Abbott Avenue in North Beach. Developed by Constellation Group and The Boschetti Group, the project aims to bring a contemporary take on Miami Beach’s Art Deco heritage while expanding luxury residential offerings in the area. Ortega Construction…

Brickell’s Tallest-Ever Tower Is Now Rising Vertically

The tallest tower to ever break ground in Brickell is now rising vertically, according to a photo by Due Italiani a Miami. Cipriani Residences is planned to eventually reach a height of 80 stories, or 940 feet above ground, and 950 feet feet above sea level. Developer Mast Capital broke ground on the tower in February 2024, after securing a $600m construction loan that…

At Least 10K Residential Units Planned In City Of Miami Under Live Local Act

There are now over 10,000 Live Local residential units moving through the planning process with City of Miami boundaries. Miami’s Planning Department maintains a list of all applications received under the Live Local law, which went into effect in 2023. As of the end of 2024, a total of 32 Live Local plans had been received by the city. Some of the applications have…

Ella Miami Beach Breaks Ground, With 103 Residences Planned

Ella Miami Beach has held a groundbreaking ceremony, according to the development’s Social Media account. Ella will have 103 residential units offering short-term rental flexibility upon completion. The building is planned to rise 10 stories, with a design by Arquiteconica. Previously, the developer described the design of the building as having Art Deco curves with modern…

Development With 1,450 Live Local Residential Units Planned In Edgewater

An application to build a major development in Edgewater has been submitted to Miami’s Planning Department. For now, the project name is known only as 3180 Biscayne. The development is planned under Florida’s Live Local Act, which came into effect in 2023. Developers can bypass certain local zoning restrictions if they dedicate part of their new development to income-restricted…

Deauville redevelopment secures Miami Beach planning board’s blessing

The Meruelo family and David Martin are one step closer to securing approval to build on the former site of the Deauville Beach Resort in Miami Beach. The city’s planning board unanimously recommended at its meeting on Tuesday that the Miami Beach City Commission approve land use changes that will allow the developers to build a larger project on the 3.8-acre oceanfront…

Miami’s Office Market Topped the Charts in 2024

The Miami office sector posted strong fundamentals throughout 2024, according to the latest CommercialEdge data. The metro marked a more than 41 percent jump in investment volume year-over-year, recording the busiest period in the last quarter. Last year, high prices in the Magic City placed it fourth in the nation, the market also emerging as the most expensive…

Dead deal: Related Urban cancels mixed-use project at former Homestead city hall

After nearly four years of negotiations, Related Urban is backing out of a pending deal to partner with the city of Homestead on a major mixed-use project, The Real Deal has learned. Last week, the affordable housing arm of Coconut Grove-based Related Group, led by Jorge Pérez and his sons Jon Paul and Nicholas Pérez, notified city officials that Related Urban is out.

Construction Braces For Impacts Of Tariffs, Deportations

Implications of trade tariffs and immigration policies could impact the construction industry, according to local experts. Trade tariffs could lead to inflation and recession, as has happened historically with tariffs. This could have significant impacts on the construction industry, affecting both costs and demand, said Lisa Colon, a partner at Saul Ewing. “The tariffs on materials imported from…

Transit team calls on Trump for help with Amtrak

In hopes the train hasn’t already left the station, the Citizens’ Independent Transportation Trust is urging Amtrak to reconsider keeping its vow to use the depot that the state built for it in Miami and is asking federal officials for help. The trust “is disappointed in Amtrak’s reversal to extend its passenger rail service to the [Miami Intermodal Center], where a more logical terminus…

Citadel developer goes back to drawing board, gets OK

A developer working to reactivate the rehabilitation of the historically designated Salvation Army Citadel building in Miami, and develop an adjacent property, has gained city support after a redesign. Owner-developer 49 NW 5th Street LLC is proposing the major rehabilitation of the historic site at 49 NW Fifth St. and 50 NW Sixth St. The applicant plans a restoration of the…

70-story tower ups contribution and enters Brickell Metrorail zone

A 70-story tower encompassing 464 residences, retail space and a performing arts venue near the Brickell Metrorail station has won unanimous county approval to apply development criteria of the Metrorail Subzone of the Rapid Transit Zone. In the process, Millennium Developments of Brickell LLC last week raised its voluntary contribution to improve area transit stations…

Plans Revealed for The James Hotel & Residences, an 82-Story Supertall Tower in Downtown Miami

Mint Developers and Sonesta International Hotels Corp. have announced plans for The James Hotel & Residences, an 82-story mixed-use supertall at 231 East Flagler Street in Downtown Miami. Estimated to cost $850 million, the project will introduce a blend of luxury residences and hospitality, becoming one of Miami’s tallest buildings. The project is designed by Idea…

Partnership Unveils Plans for $850M Hotel, Residential Skyscraper in Downtown Miami

A partnership locally based firm Mint Developers, hospitality owner-operator Sonesta International Hotels Corp. and property manager AD1 has unveiled plans for an $850 million hotel and residential project in downtown Miami. The James Hotel & Residences in Downtown Miami will comprise 336 fully furnished, for-sale residences and roughly 200 hotel rooms. At 82 stories…

82-Story Supertall Planned In Downtown Miami

Sonesta International Hotels Corporation says it has executed an agreement to build The James Hotel & Residences Downtown Miami. The 82-story $850 million, building will be a supertall, a press release said. A separate press release by AD1 Hospitality says the building will be the tallest in Miami. It will also have the highest elevation luxury bar and restaurant in the Americas.

Mint Developers plans $850M Sonesta supertall in downtown Miami

Mint Developers is teaming up with Sonesta International Hotels on the James Hotel & Residences, a planned supertall in downtown Miami. The two companies revealed their plans for the $850 million, 336-unit condo-hotel tower, a block west of Biscayne Boulevard. It will mark the first residential building for the James, one of Sonesta’s brands.

Demolition, Construction Permits Submitted For Urban Core Site Near Former Omni – 400-Foot Tower Planned

Applications for new construction and total demolition permits have been submitted for a property near the former Omni. The FAA also granted height approval last week for the new tower, at 380 feet above ground, or 388 feet above sea level. According to the master construction permit filing with Miami’s Building Department, the new development will have 33 floors…

SkyRise Miami Was Resubmitted To The FAA Yesterday

The Federal Aviation Administration has received an application to approve the height of SkyRise Miami. The agency received the application on February 3, 2025. It’s not clear who submitted it, or if it would look the same as an earlier proposal. According to the filing, SkyRise is planned to rise 1,045 feet above ground, or 1,049 feet above sea level. The application cites…

Miami-Dade Could Eliminate Parking Minimum In Government Center Subzone

Miami-Dade Commissioners were scheduled to vote today on eliminating a parking requirement for new developments in the Government Center Subzone of the Rapid Transit Zone. All properties within the Government Center Subzone are County-owned or County-developed properties. The area is served by Metrorail, Metromover, Tri-Rail, Brightline, and Bus Rapid Transit.

Viceroy Residences Aventura Launches Sales

Plans have been unveiled for Viceroy Residences Aventura. Viceroy Residences Aventura will include 274 residential condos, becoming the first new construction condos in Aventura in nearly 7 years, according to the developers. Residents will have access to 36,000 square feet of amenities, including a rock climbing wall, pickleball courts, and an indoor basketball half court.

Commissioners Vote In Favor Of 70-Story Calle 8 Brickell Tower

Brickell’s planned 70-story Calle 8 tower received a key approval from Miami-Dade last week. County commissioners voted unanimously to approve a special exception for a general development plan for Calle 8. The vote came at Miami-Dade’s Comprehensive Development Master Plan & Zoning. Commissioner Eileen Higgins noted several positive aspects that the development…

Kolter Group, BH list oceanfront Miami Beach condo dev site with whisper price of $110M

A joint venture between Kolter Group and BH Group is looking to sell an oceanfront development site in Miami Beach for a big profit. Delray Beach-based Kolter and Aventura-based BH tapped Berkadia to market the 1-acre property at 6985 Collins Avenue with a whisper price of $110 million, The Real Deal has learned. The developers paid $24 million…

Revised Demo Permit Approved For Santander Site In Brickell

Miami’s Building Department has approved a revision to a demolition permit for the Santander Tower site in Brickell. The revision was approved on January 31. It appears to be the second revision to the permit. Another revision was approved in December. Meanwhile, a dewatering permit application was submitted to Miami-Dade for the site in January. Coastal Construction…

Downtown Miami Fountain Is Now On, With 500 Lights & 800 Water Jets

The large fountain at Bayfront Park has been turned on following extensive construction. Renovation of the fountain cost $5.5 million, according to Axios. It will additionally cost an estimated $20,000 to $30,000 per month to operate, the report said. The fountain now features extensive upgrades compared to when it originally opened in 1990. There are over 500 lights…

FAA Filing Reveals Potential 1,000-Foot Tower in Brickell Adjacent to I-95

A filing with the Federal Aviation Administration (FAA) suggests the potential for another supertall tower in Brickell, with new permits requesting a height of 1,000 feet, or 1,010 feet above sea level. The filing, submitted on January 28, lists the project under the name “Brickell Mixed Use” and describes it as a multi-purpose building. However, it remains unclear whether the FAA…

1000-Foot Mixed-Use Building Planned In Brickell

A filing with the Federal Aviation Administration reveals that yet another supertall tower is under planning in Brickell. The filing was received by the agency on January 28. The structure will be a multi-purpose building, the application states. For now, the building name is listed in the filing as Brickell Mixed Use. Coordinates submitted with the filing show it will be built…

As part of $850M nationwide leaseback deal, AT&T sells 10 South Florida sites for $63M

AT&T has disconnected its ownership of 10 South Florida sites, selling the office/industrial properties to Reign Capital for a combined $62.9 million. An affiliate of New York-based Reign acquired buildings spanning roughly 1 million square feet in Coral Gables, Homestead, Miami, Miami Gardens, Sunrise and West Palm Beach, records and real estate database Vizzda show.

Ira Giller aborts Miami Beach project, sells dev site to Miami jewelers planning bigger development

Ira Giller canceled plans for a Miami Beach mixed-use building, after selling his development site to jewelers assembling land for a larger project, The Real Deal has learned. Gateway Group, a Miami Beach-based firm led by the architect, Jason Giller and other family members, sold three retail buildings at 976 West 41st Street, 3907 Alton Road and 3915 Alton Road for a combined…

BridgeInvest Provides $15.7M Loan for 53-Story Tower at Miami Worldcenter

BridgeInvest has closed a $15.7 million loan to refinance existing debt on Block C East, a 1.4-acre development site at 155 NE 10th Street within the Miami Worldcenter district. The financing supports plans for a 53-story mixed-use tower by Falcone Group, further expanding the 27-acre Miami Worldcenter, one of the largest mixed-use developments in the country….

Industrial gain: TA Realty sells Miami-Dade warehouses for $22M, more than double its purchase price in 2019

Fresh off buying a Blackstone Opa-Locka industrial portfolio for nine figures, TA Realty sold a nearby warehouse complex for $22 million, marking a sizable gain. An affiliate of Miami-based Midtown Capital Partners, led by CEO Alejandro Velez, acquired the two buildings spanning 83,000 square feet at 5261 Northwest 161st Street in unincorporated northwest Miami-Dade…

Escapology, OAKBERRY, and Petricor Join CityPlace Doral’s Expanding Retail Lineup

CityPlace Doral has announced the addition of three new tenants to its retail and entertainment offerings: Escapology, an immersive escape room experience; OAKBERRY, a global quick-service superfood brand specializing in açaí bowls and smoothies; and Petricor, a fashion destination. These new arrivals continue diversifying the lifestyle center’s dining, retail, and entertainment options….

Süzer buys majority stake in Wynwood’s Moxy hotel for $99M

Süzer Group bought a majority stake in the Moxy Miami Wynwood hotel for $99 million, The Real Deal has learned. The Istanbul-based firm purchased a 52 percent stake in the eight-story, 120-key building at 255 Northwest 25th Street in Miami, Baran Süzer said. The deal, which closed on Thursday, includes the Sparrow Italia and Casa Madera restaurant spaces in the building.

Site Work Starts on ‘The Delmore’ at 8777 Collins Avenue in Surfside

Dubai-based DAMAC International has started site work on a 12-story high-rise tower on the former site of the collapsed Champlain Towers South in Surfside. The Delmore will comprise 37 ultra-luxury residences, with the condos averaging 7,000 square feet and the penthouses starting at 10,000 square feet. The Real Deal reports that layout plans include four-bedroom to five-bedroom…

DAMAC Kicks Off Luxury Surfside Project

Dubai-based DAMAC International has broken ground on The Delmore, a 37-unit, ultra-luxury condominium development in Miami’s Billionaire’s Triangle. Zaha Hadid Architects designed the project that is slated for completion in 2029. New York-based Douglas Elliman is the exclusive broker in charge of sales at the property. Prices will start at $15 million, The Real Deal reported.

Meet Ken Griffin’s platoon of planners and professionals building his business in South Florida

In less than three years, billionaire Ken Griffin has turned into one of South Florida’s biggest real estate tycoons. The Daytona Beach native with a net worth of $43.8 billion, per Forbes, moved his hedge fund Citadel and its sister financial services firm Citadel Securities to the Magic City from Chicago in 2022. Griffin has since amassed a residential and commercial real estate…

Why condo developers flush with optimism should think twice

Some condo developers experienced slower sales in 2024. That didn’t stop developers from launching more projects. Expect more of that this year, developers and brokers say. The consensus is that condos are still “where we can make the numbers work,” says developer Gaetano Caltagirone. Multifamily is way more challenging (see last week’s Weekly Dirt) and some…

Miami-Dade Commissioners Vote in Favor Of 42-Story Tower

Miami-Dade commissioners voted today to approve a zoning application for a 42-story tower next to a historic church. The favorable vote came at a county Comprehensive Development Master Plan & Zoning meeting. The approval is for a special exception for a general development plan, under Miami-Dade’s Rapid Transit zoning plan. In order to gain approval…

Raanan Katz boosts retail empire, pays $15M for City Furniture showroom

Raanan Katz’s RK Centers added a second Broward retail property to its portfolio in less than three months, paying $15.2 million for a furniture store. An affiliate of Sunny Isles Beach-based RK acquired a City Furniture showroom at 11249 Pines Boulevard in Pembroke Pines, records and real estate database Vizzda show. The deal breaks down to $243 a square foot…

CSL Partners, Presidium buy 260-unit Hialeah apartment complex for $95M, plan Live Local Act conversion

CSL Partners and Presidium scooped up the 260-unit Pura Vida Hialeah apartment complex for $95 million, with plans for a Live Local Act conversion, The Real Deal has learned. Montreal-based CSL Partners, a joint venture between Benjamin Farkas and Brandon Chemtov, and Dallas-based Presidium bought the property at 3051 West 16th Avenue in Hialeah from Coral Rock…

Retail asking rents rise across South Florida in fourth quarter

South Florida retail landlords boosted their asking rents during the fourth quarter of last year, while investors continued scooping up shopping centers, especially properties anchored by Publix grocery stores, a recent report shows. Yet, restaurants and the big box sector felt the effects of national chains filing for bankruptcy last year. More than 95 companies closed 211 sites…

NYC Bagel Company H&H Bagels Opening 5 Miami Locations

After causing a frenzy in Boca Raton with lines out the door, famed New York City bagel shop H&H Bagels is headed to South Florida where it will open five locations in Miami. Founded in 1972, the legendary fresh bagels shipped directly from New York City will finally be available down in Miami, where authentic New York bagel lovers will be in for a treat. Not only will the longtime…

Pinnacle proposes 110-unit affordable housing project in Princeton, as development rush in south Miami-Dade continues

Pinnacle proposes a 110-unit affordable apartment project for seniors in Princeton, amid a continuing development rush in south Miami-Dade County. The Kendall-based firm wants to build the eight-story building with 1,000 square feet of ground-floor retail on a 1-acre site on the southeast corner of South Dixie Highway and Southwest 250th Street in unincorporated Miami-Dade…

Allen Morris launches sales of Ponce Park luxury condo project

Allen Morris Company is launching sales of its luxury condo project in Coral Gables, about nine months after securing approval from the city. The Coral Gables-based firm, led by W. Allen Morris and his son, Spencer Morris, plans to build Ponce Park at 3000 Ponce de Leon Boulevard. Prices for condos at the 11-story, 58-unit building start at $2.4 million, according…

Notable Retail Leases Signed in South Florida Q4 2024

We’ve compiled a comprehensive list of the top retail leases signed by square footage in South Florida during 2023. This past quarter was busy overall, and there were a few big box leases signed and sealed. Despite the sentiment that the traditional retail market is taking a hit due to several factors, particularly e-commerce and several retail store closures nationwide…

Lease roundup: Niku X restaurant opening in South Beach, Equinox coming to Boca Raton

Hospitality firm Chubby Group will open its upscale buffet-style restaurant Niku X in South Beach, The Real Deal has learned. Philadelphia-based Chubby Group leased 10,000 square feet at 555 Washington Avenue in Miami Beach, according to Aaron Butler, the landlords’ broker. Niku X will open early next year at the four-story office building.

Hallandale Beach board green-lights BH, Prime’s Homewood Suites by Hilton hotel project

BH Group and Prime Group are a step closer to building a new hotel near Gulfstream Park. The Hallandale Beach Planning and Zoning Board on Monday unanimously approved the joint venture’s site plan for a Homewood Suites By Hilton hotel at 804 South Federal Highway, city records show. Designed by Hollywood-based Prime Design Associates, the planned…

HTG Seeks Approval for ‘Paramount Place’ at 826 S. Dixie Highway and 2115 Washington Street in Hollywood

Coral Gables-based Housing Trust Group (HTG) is seeking approval for “Paramount Place”, an affordable housing development for seniors in Broward County. Plans call for an eight-story building comprising 162,541 square feet of new construction. There would be 96 residences ranging 699 to 1,066 square feet, with floorplans including one-bedroom and two-bedroom designs.

Developer Proposes Expansion of ‘the Celtic Apartments’ at 4682 and 4724 Davis Road in Lake Worth Beach

As it stands, the Celtic Apartments in Palm Springs is a mostly vacant multi-family complex built in the early 1990s. Yet, a developer hopes to expand the number of units by 325 percent with the addition of 26 residences, bringing the total number of homes to 46. According to the South Florida Business Journal, 17 homes would be available to those earning up to 140 percent…

Investor sues developers of Icon Palm Beach Shores over allegedly unpaid loans

The developers of Icon Palm Beach Shores are facing yet another lawsuit tied to the luxury condo project. Investor Daniel Perla sued Marc Shulman, Anthony Shafer, IRC Equities III FL, Icon Development Holdings I, Icon Dev Owner I and ARKNH Servicing in Palm Beach County Circuit Court last week. Perla alleges he is owed $4.9 million in unpaid loans that…

Henderson Park-led JV takes over PGA National Resort in $400M-plus deal

Henderson Park, Salamander Collection and South Street Partners teamed up to purchase the PGA National Resort in Palm Beach Gardens. The Henderson Park-led joint venture paid more than $400 million for the 807-acre property at 400 Avenue of the Champions, a source familiar with the deal told The Real Deal. The buyers declined to comment. PGA National Resort…

With Trump back in office, all eyes are on a changed Palm Beach

Election Day in Palm Beach was relatively quiet. The skies were overcast and schools were closed. Traffic caused by Donald Trump’s motorcade escort to the island’s polling place was intolerable, so the kids stayed home. Palm Beachers, ever a crowd who love to lunch, wore their “I Voted” stickers to their usual spots at Sant Ambroeus and the Honor Bar. The commotion…

What Deregulation Could Mean for CRE Bank Lending

Last week, President Trump issued an executive order to Federal agencies to cut 10 regulations for every new one they institute. This regulation-light approach could have some positive implications for commercial real estate bank lending, which has fallen off considerably in recent years. For example, big banks, those with assets of $100 billion or more…

New Data on Property Insurance Nonrenewal Rates, Claims, Premiums

Earlier this month, the Federal Insurance Office released a detailed report, “Analyses of Homeowners Insurance Markets, 2018-2022: Climate-Related Risks and Other Factors.” While it focuses on homeowners’ insurance, we know that commercial property insurance is facing similar stresses. Trends in premiums, claims and nonrenewals provide insight into where…

The (Student) Housing Crisis

Class, exams, studying…and rent? For students already juggling the demands of school, work, and building their future, the rising cost of housing is becoming an increasingly pressing challenge. The housing affordability crisis—marked by shifting rent-to-income ratios, a limited supply of affordable housing, and growing demand—has dominated discussions in recent years.

What’s Propelling Florida’s Waterfront Development Rush?

A 50-foot-wide linear park at River Landing adds a serene, green escape to the riverfront setting. Image courtesy of River Landing Shops & Residences Florida’s waterfront commercial development boom is being driven by migration, demographic shifts and evolving tenant preferences, creating a surge in demand for mixed-use, lifestyle-driven spaces. According to Ryan Shaw…

Video: BGO Chief Economist Ryan Severino; Commercial Real Estate Market Forecast 2025

In a recent episode of America’s Commercial Real Estate Show, the host of the show welcomed Ryan Severino, Chief Economist with BGO, to discuss the evolving landscape of commercial real estate. Their conversation, which was national in scope, touched on key economic indicators, capital markets, policy shifts, and emerging investment opportunities that will shape…

Blackstone’s Gray Says ‘Office Has Bottomed,’ Eyes 1.5M SF Manhattan Tower

Blackstone surprised analysts Thursday, both because it beat expectations in its fourth-quarter earnings and because the private equity giant is looking for opportunities in office space. The strong earnings were bolstered by fees from the firm’s management and advisory services. Its flagship real estate funds were down modestly in the fourth quarter, but Chief Operating…

Developers Question Whether Florida’s Live Local Act Can Actually Help Residents Live Local

The Live Local Act, which overhauled rules over zoning and development across Florida, was drafted to address the Sunshine State’s affordable housing crisis. But as the law approaches its second birthday, developers say it hasn’t been enough for them to get projects off the ground and deliver more lower-cost housing. “I keep hearing ‘Live Local, Live Local,’ but I don’t hear anything…

Ramola Motwani: Merrimac Ventures chairwoman on transforming their motel business, more…

For years, Nitin and Dev Motwani have been the talking heads (and managing partners) of their family company, Merrimac Ventures, which has completed more than $3 billion in projects in South Florida. But the two brothers wouldn’t be in their positions without their mother, Ramola. Ramola Motwani and their father, her late husband Ramesh “Bob” Motwani, moved…