Terra, Fortune pay record $205M for waterfront Key Biscayne development site
David Martin partnered with Edgardo Defortuna to pay a record $205 million for a Key Biscayne development site where they plan a 56-unit ultra-luxury condo building. Martin’s Miami-based Terra and Defortuna’s Miami-based Fortune International Group acquired the former Silver Sands Beach Resort property at 301 Ocean Drive, according to a press release.
Ronny Finvarb scores $19M loan for Miami Beach mixed-use project
Ronny Finvarb can get to work on a mixed-use project in Miami Beach after nabbing a $19 million construction loan. Coral Gables-based Amerant Bank provided the financing to an affiliate of Finvarb Group, Finvarb’s Bay Harbor Islands-based firm that owns a 0.2-acre development site at 1790 Alton Road, records show. Finvarb Group is planning a five-story building…
Legacy, Cayon propose 235-unit apartment building near Miami International Airport
Developers propose a 235-unit apartment building with workforce housing near Miami International Airport. An entity tied to Legacy Residential Group and Cayon Development Group want to build the eight-story building on a 2.3-acre site at 3685 Northwest 36th Street in unincorporated Miami-Dade County, according to an application the developers submitted…
$5.7M Sale of Retail Strip Center in Miami’s Dadeland Area Brokered
A firm has brokered the $5.7 million sale of Plaza 77 Shops, a 9,590-square foot retail strip center in Miami’s Dadeland neighborhood. Situated less than one mile from Dadeland Mall, the property is anchored by Trulieve and Domino’s Pizza, which both operate on corporate-guaranteed leases. Additional tenants at the center include Chase Bank, Outback Steakhouse, Anthony’s Coal…
Dorissa of Miami in Wynwood hits market for roughly $25M
Dorissa of Miami, a storied property that once played a role in Wynwood’s garment industry, hit the market for roughly $25 million, The Real Deal has learned. The 0.8-acre site, consisting of a two-story office, retail and restaurant building built in the 1950s, is at 28 Northeast 28th Street in Miami. It’s fully leased, according to broker Chris Lentz. Lentz and Andy Slowik are leading…
Ex-MLB player Alex Guerrero proposes 234-unit Live Local Act tower in Miami’s Wynwood Norte
Former Los Angeles Dodgers player Alex Guerrero proposes a 234-unit Live Local Act tower in Miami’s Wynwood Norte neighborhood. AG Wyn, managed by Guerrero and Ruben Rodriguez, wants to build the 41-story project on a 0.6-acre site between Northwest Third and Fifth avenues, south of Northwest 37th Street, in Miami, according to an application filed to the city this month.
‘Wynwood Tower’ Proposed as Tallest Building in Wynwood Norte
A 41-story skyscraper titled Wynwood Tower is coming to the edge of Wynwood. The Florida-based developer, AG Wyn, is proposing the skyscraper as part of the Live Local Act, a recently enacted housing law aimed at spurring higher density housing in commercial or industrial areas. The half-acre property located at 330 NW 37th St will eventually be home to a 398.983 sf…
13th Floor, LeFrak and Related envision two-tower mixed-use project in Miami
13th Floor Investments, LeFrak Organization and Related Group want to build a mixed-use complex with 741 apartments near the Douglas Road Metrorail Station in Miami. The joint venture is seeking to redevelop a 2.3-acre shuttered car dealership at 3650 Bird Road, according to a site plan pre-application submitted to Miami-Dade County. The project, designed by Coral Gables…
Foundation Work Underway for The Residences at 1428 Brickell
Foundation work is underway for The Residences at 1428 Brickell, where recent aerial imagery reveals a fully cleared site with heavy equipment actively engaged in early-stage construction activity. Developed by Ytech and designed by ACPV Architects in collaboration with Arquitectonica and Magnusson Klemencic Associates as the structural engineer, the 70-story tower…
Demand for Doral commercial space slides, but prices keep rising
Doral’s commercial real estate scene continues to see rising prices despite the pullback in demand. “I think the year started out pretty hot in comparison to the past … 18 months,” said Conner Milford, senior vice president with Lee & Associates. “However, it’s definitely slowed down a bit here more recently.” Mr. Milford said a possible reason for this slowdown could be…
Grand Opening Held for Magnus Brickell, a 37-Story Mixed-Income Tower in Miami’s Financial District
Related Group, Miami-Dade County Housing & Community Development, and Miami-Dade County Public Schools have announced the grand opening of Magnus Brickell, a newly completed, 37-story mixed-income residential tower located at 75 Southwest 10th Street in the heart of Miami’s Financial District. The tower introduces 465 new rental residences and stands…
Transformation of One Broadway Advances in Brickell, Miami
Construction continues on the transformation of One Broadway, a 37-story tower located at 1451 South Miami Avenue in Brickell. Originally completed in 2005 as a condominium and short-term rental building, the structure is undergoing a complete redevelopment, with the potential rebranding to La Mare Hotel & Residences Brickell Miami. The redevelopment is being led…
80-story condo can replace part of First Presbyterian Church
City commissioners rejected an appeal last week to restore historic protections around First Miami Presbyterian Church as originally designated, clearing the way for partial demolition and a proposed 80-story condo tower despite strong pushback from residents. Brickell residents packed city hall on April 10 to urge commissioners to let them challenge the city’s decision…
Brickell residents lose fight against 13th Floor, Key’s 80-story condo behind Presbyterian church
Brickell residents opposing a planned 80-story condo tower behind the First Miami Presbyterian Church lost their fight. On Thursday, Miami commissioners voted 4-0 against opponents’ appeal, led by the the condo association for IconBrickell Tower II, to allow them to intervene in the city’s decision for the historic declassification of a portion of the site.
Bear Cut Bridge upgrade years away
Work to rehabilitate or replace the Bear Cut Bridge on the Rickenbacker Causeway is still a long way from beginning and will cost $60 million to $100 million, a public meeting on the project was told last week. Until after the current 30-month study is completed in 2027, no decision is expected on whether a taller bridge will be constructed. While funding for the work would primarily…
$8.1M Sale of Miami Multifamily Property Silver Cove Apartments Arranged
Built in 2021, Silver Cove Apartments is a four-story, 33,424-square-foot building at 2010 Southwest 25th Terrace. The property has gated parking and a mix of large two- and three-bedroom units, all with private balconies, contemporary finishes and in-unit washers and dryers. Positioned between Coconut Grove and Coral Way, the property is near downtown Miami…
Miami Beach changing city code to honor Norman Braman
Miami Beach elected officials have initiated plans to amend the city code in order to co-name a portion of 17th Street in honor of Norman Braman, a long-time automotive business leader whose civic involvement has impacted the city. The ordinance is to face city officials for a final vote April 23. Mr. Braman has created a legacy in South Florida, says a commission memo…
Miami Beach Convention center hotel financed to open in 2027
The development of the long-awaited Grand Hyatt Miami Beach Convention Center Hotel moves along and has a delivery slated for 2027. Terra Group, of Coconut Grove, and Turnberry Associates, in Aventura, partnered to build the 17-story, 800-room property adjacent to the Miami Beach Convention Center. The hotel at 17th Street and Convention Center Drive was approved…
Terra, Turnberry score $392M construction loan for Miami Beach convention center hotel
David Martin and Jackie Soffer’s long-planned convention center hotel in Miami Beach is moving forward. Martin’s Terra and Soffer’s Turnberry secured a $392 million construction loan from Adi Chugh’s Tyko Capital, according to sources. The developers plan to build a 17-story, 800-room hotel next to the Miami Beach Convention Center.
Terra and Turnberry Get $392M Loan for Miami Beach Hotel After 7 Years of Planning
Finally, Terra and Turnberry appear to be set to begin the groundbreaking process for their Miami Beach hotel project after years of planning. The two developers have secured $392 million in construction financing from TYKO Capital. The project, called Grand Hyatt Miami Beach, calls for 800 hotel rooms and 17 stories, with about 12 floors reserved for guests.
Terra lists Coconut Grove land leased to defunct Location Ventures
David Martin’s Terra is seeking to unload land underneath a Coconut Grove site complicated by a ground lease with Location Ventures, the defunct development firm founded by Rishi Kapoor. Coconut Grove-based Terra recently listed the 0.4-acre property at 3120-3138 Commodore Plaza with an asking price of $18.9 million, according to an offering memorandum.
Why Are New Warehouses Including Pickleball Courts And Food Halls?
Warehouse workers at the Goodman Commerce Center in California’s Inland Empire don’t have to settle for vending machine snacks or reheated meals in a break room microwave. Instead, they can step to the adjacent Cravings at Eastvale food hall, where the menu includes freshly shucked oysters and hand-rolled sushi. The food hall is part of a 200-acre mixed-use…
Construction Wraps Up on The Wynwood Plaza in Miami’s Wynwood Arts District
Construction has wrapped up on The Wynwood Plaza, a one-million-square-foot mixed-use development located at 95 NW 29th Street in Miami’s Wynwood Arts District. Designed by Gensler and developed by L&L Holding Company and Oak Row Equities, with project partner Shorenstein Properties and co-investor Claure Group, the project is a major addition to the block frontage …
Exterior Work Nears Completion on The Crosby at Miami Worldcenter
Exterior work is nearing completion on The Crosby Miami Worldcenter, a 33-story, 376-foot-tall residential tower located at 601 North Miami Avenue in Downtown Miami. Designed by CFE Architects, developed by Related Group and Merrimac Ventures and funded by Bank OZK, the project is part of the larger Miami Worldcenter master plan. The tower will deliver 450 fully…
Terra, Turnberry Receive $392M Construction Financing for Miami Beach Grand Hyatt Hotel
Terra and Turnberry have received $392 million in financing for the construction of Grand Hyatt Miami Beach, an 800-room hotel situated adjacent to the Miami Beach Convention Center. TYKO Capital, a New York City-based private equity and private credit investment management platform, provided the financing to the South Florida-based developers. Grand Hyatt…
Construction Rises on Excel Miami at 1550 NE Miami Place in Miami’s Art’s & Entertainment District
Construction is now several stories above ground on Excel Miami, a 24-story residential tower located at 1550 NE Miami Place in Miami’s Arts & Entertainment District. Designed by Arquitectonica, with LEO A DALY serving as the architect-of-record and developed by Clearline Real Estate with Shawmut Design and Construction as the general contractor, the 275-foot-tall structure…
Blackstone unloads another South Florida property, sells office building for $21M
Blackstone continues to make its South Florida portfolio lighter, selling a Miami Lakes office building for $20.5 million. An affiliate of Blackstone, the New York-based investment giant led by Steven Schwarzman, and its subsidiary, Link Logistics, led by Luke Petherbridge, sold the 13.3-acre site at 17100 Northwest 59th Avenue to an entity managed by Ali Ahmed…
YIMBY Scopes Views of Forma Miami at 2900 Biscayne Boulevard in Edgewater
Construction is complete and leasing is underway on Forma Miami, a 39-story residential tower located at 2900 Biscayne Boulevard in the Edgewater neighborhood of Miami. Designed by Arquitectonica, with ODP Architecture & Interior Design listed as the architect of record and interiors by Rockwell Group, the tower was developed by Crescent Heights. The building rises…
Braman Motors proposes 60-story resi towers, 11-story auto building in Miami’s Edgewater
Car dealership tycoon Norman Braman’s firm proposes a pair of 60-story residential towers and an auto building, as part of a massive redevelopment of its properties in Miami’s Edgewater. Braman Motors wants to build the towers and an 11-story automotive building on a portion of its 21-parcel assemblage between Northeast 19th Terrace and Northeast 21st Street…
Jon Samuel’s Broward portfolio lightens after $22M warehouse sale
Jon Samuel, one of the original developers of Midtown Miami, is on a roll, selling another Broward commercial property in less than a week. An affiliate of NorthBridge Partners paid $22.3 million to three affiliates of Samuel’s Miami-based Midtown Group for a showroom and warehouse leased to Floor & Décor in Coral Springs, records and real estate database…
500-Foot Tower Cranes Approved For Link At Douglas
Two construction cranes were recently approved to build the third tower at the Link at Douglas complex. Approval by the FAA was issued last month for the two cranes to rise 509 feet and 471 feet above ground. The work schedule for the cranes was estimated to begin earlier this month, on April 1. Tower 3 at Link is planned to rise 39 stories, or 443 feet above sea level.
Costco proposes store near Dolphin Mall in Sweetwater
Costco proposes a store near Dolphin Mall in Sweetwater. The membership club wants to build a 159,200-square-foot warehouse store on a 20-acre site west of Northwest 119th Court, between Northwest 21st and 17th streets, according to an application Costco filed to Miami-Dade County in January. The project would include a liquor store and a detached gas station.
Construction Begins At Miami Worldcenter’s Block E
Construction is now underway at Block E at Miami Worldcenter, located on the 7th Street Promenade, according to Nichols Architects. The 3-story complex will include 63,315 square feet of space, according to a construction permit issued last month. There will be 10,745 square feet of retail and 9,543 square feet of restaurant space on level 1, the permit states. Floors 1-3 will have…
First Glass Installed At 65-Story E11EVEN Residences Beyond
The 65-story E11EVEN Residences Beyond tower in Park West has had its first glass installed, according to a photo by Joel Franco. The tower is planned to top off at 699 feet above ground, or 709 feet above sea level. It will include around 558 residential units, 7,119 square feet of bar or lounge space, and 21,611 square feet of retail. Two E11EVEN towers are under construction…
Photo: Construction At 70-Story Okan Tower
A photo shows construction at the 70-story Okan Tower this week. Last week, a filing was submitted to the Federal Aviation Administration to increase the construction crane heights at the Okan site to 1,051 feet above ground. The permanent height of the tower is planned at 902 feet, making it among the tallest buildings south of New York. Okan Tower will include a 316-key Hilton…
The Plaza Coral Gables’ office space is fully leased after scoring three tenants. Accounting firm Marcum leased 9,600 square feet at the office building within the mixed-use Coral Gables project, according to a news release from the landlord’s broker. Wealth manager ALTi Tiedemann Global leased 6,000 square feet, the release says. The firm will move in the coming months…
Continuum Kicks Off North Bay Village Condo Project
Continuum Co. has started construction on Continuum Club & Residences, a 198-unit waterfront condominium tower in North Bay Village, Fla. The 32-story building is being developed in partnership with Aksoy Holdings and represents Continuum Co.’s second branded project in the Miami area. KAST Construction is the general contractor, with plans to complete…
Here’s How Much it Costs to Rent an Apartment in Miami and How it Compares Nationally
Miami remains one of the most expensive rental markets in the U.S. According to a March 2025 national rent report by apartment rental site Zumper, Miami had the sixth most expensive median rental price for one-bedrooms nationwide at $2,550, trailing only San Jose, Boston, Jersey City, San Francisco, and New York City. The real estate platform also analyzed…
Mixed-use development with 116 rentals, including affordable housing, advances in Hallandale Beach
A Puerto Rico-based developer won city approvals for a mixed-use development in Hallandale Beach with 116 rentals, including 17 affordable housing units with below-market rents. The Hallandale City Commission on Wednesday unanimously approved SAG Development’s applications for a major development plan, zoning variances, and so-called…
MMG plans 308-unit apartment building with affordable housing at its Plantation shopping center
MMG Equity Partners advanced its plan to develop an eight-story apartment building adjacent to Plantation Square, a shopping center that the firm acquired four years ago. The Plantation City Council voted Wednesday to approve a land use change and rezoning of the 12.9-acre shopping center property on the southwest corner of West Sunrise Boulevard and North University Drive.
Copart expands South Florida portfolio, nabs Palm Beach County auto yard for $65M
Copart beefed up its South Florida portfolio, paying $65 million for a Palm Beach County auto yard where the company stores and sells used vehicles. An affiliate of Copart, a publicly traded firm based in Dallas that specializes in reselling repossessed and salvaged cars and trucks, acquired a 40.3-acre industrial site at 7876 West Belvedere Boulevard and 801 Pike Road near West Palm Beach…
Construction Continues on ‘Esprit at Avenir’ at 14044 Dauphine Court in Palm Beach Gardens
Construction has started on Esprit at Avenir, a luxury housing development for seniors 55+ in Palm Beach Gardens. The gated community will host an array of three to six-bedroom homes, with the option to customize certain features, including various design elements. The residences themselves boast a contemporary design, offering high ceilings, natural lighting…
Construction has commenced on Northlake Promenade Apartments, a multi-family housing development in Palm Beach County. Led by AvalonBay Communities, the seven-story venture will offer 279 units. Of those units, 20 will be studios, 133 will be one-bedroom layouts, 102 will be two-bedroom layouts, and the remaining 24 will be three-bedroom residences.
Alba Palm Beach Tops Off in West Palm Beach, Completion Expected in Early 2026
Construction has topped off on Alba Palm Beach, a 22-story luxury waterfront condominium development located directly on the Intracoastal Waterway at 4714 North Flagler Drive in West Palm Beach’s Northwood neighborhood. Developed by BGI Companies in partnership with Blue Road and designed by Spina O’Rourke + Partners, the project will yield a boutique…
Return-to-Office Mandates Start to Clock In
Office traffic nationally remains well behind the pace of the pre-pandemic level but it is showing steady improvement. Visits in March came in 32.2 percent below March 2019 levels. However, a recent report from Placer.ai said that although numbers declined in January and February, last month’s data reveals that new return-to-office mandates could have had an impact.
Most Apartment Markets Nationally Still Below Pre-Pandemic Occupancy
While occupancy has firmed up considerably over the last year amid strong demand nationally, most major markets still posted occupancy rates below that of their pre-pandemic long-term norms as of 1st quarter 2025. The U.S. recorded 1st quarter occupancy of 95%, according to data from RealPage Market Analytics. That rate ran slightly below the pre-COVID five-year average…