Chinese Want To Build Miami’s Tallest Tower In Brickell, Hire Arquitectonica (Updated)
China City Construction Corp. is one step closer to building the tallest tower in Miami. Company officials traveled to New York on Monday to ink a deal with Arquitectonica for design work on a twin-tower project at the Capital at Brickell property. China City bought the vacant 2.78-acre site last year for $74.74 million. China City wants…
4 riverfront towers of 58 to 60 stories likely
Another billion-dollar development is poised to change Miami in a big way and has garnered preliminary approval from city commissioners. Called simply Miami River, the mixed-use project would bring hotel rooms, apartments, retail stores, restaurants and offices to the…
First Look At Arquitectonica’s Design For Game-Changing Block E At Worldcenter
Block E at Miami Worldcenter will surely be a transformational development for Park West. Now, renderings of Arquitectonica’s design for the project have been obtained by TNM and published for the first time. Located at 725 North Miami Avenue, the project will include condo units, rental units, and two hotels. Also included will be…
Espirito Santo Plaza on Brickell sold for $142 million
The Espirito Santo Plaza office tower in Miami’s Brickell financial district sold for $142 million to an affiliate of Gaedeke Group. The 36-story building at 1395 Brickell Ave. was placed for sale after Rio Forte Investments filed for relief from its creditors in Luxembourgh in 2014, an event related to the collapse of Portugal’s Banco Espirito…
Vacant land in Arts & Entertainment District sells for $16M
A development site in Miami’s Arts & Entertainment District was just sold for $16 million to a California-based company. The sale includes two side-by-side parcels (folio 1, 2; area demographics, listings) that take up an entire city block at 1950 Northwest First Avenue, totaling roughly 2.5 acres, according to Miami-Dade County records.
East Hotel At Brickell City Centre Taking Reservations For March
Reservations are now being accepted for Brickell City Centre’s East Hotel, but rates aren’t cheap. Rooms are available beginning in March 2016, through September 2016. Rates start at $499 in March, but drop to $259 by summer. The developer still says that they are on track to open the 352-room hotel by December of this year.
Rambleside offers $507M for Delano and another Morgan hotel
Activist shareholder and Rambleside Holdings CEO Gregory Cohen is stirring things up yet again, this time offering to buy two hotels owned by Morgans Hotel Group in a move that could complicate merger talks for the lodging company. In a letter sent Sunday to the Morgans board, Cohen said Hudson Square-based Rambleside would pay…
Cladding Installed At Brickell City Centre, Giving A Glimpse Of The Finished Product ~ Photos
Crews have been installing cladding on the exterior of the Arquitectonica-designed Brickell City Centre recently. This is what Miami residents could be looking at for decades to come.
$10 million targeted to restore beaches
County commissioners were scheduled this week to approve increasing funds by $10 million for a program to re-nourish Miami-Dade’s beaches and protect its shoreline. The legislation would reduce an allocation of $10 million to the Building Better Communities Obligation Bond Program project for…
Members of the Vizcaya Museum and Gardens Trust will integrate the public’s ideas into an evolving master plan for developing a new cultural center at the county-owned estate and grounds on South Miami Avenue in Coconut Grove.
Three public forums will be held from 6 to 7:30 p.m. Sept. 24, 9 to…
World Trade Center Miami goes regional
The World Trade Center Miami, now in its third decade, is looking at new strategies to increase its outreach and further its mission. “Our mission is to increase two-way trade – exports and imports,” said President Charlotte Gallogly, “and our second mission is to strengthen…
Historic Miami Beach Building Trades For $12.3 Million
The four-story, 21,120-square-foot mixed-use property was originally constructed in 1930.
Tom Ford’s Design District Flagship Is What You Expected It To Be
Tom Ford is housed behind arguably one of the most visually stunning facades in all of the Design District: a “pleated” surface of angular and a-symmetrical, glass-fiber-reinforced-concrete panels, which perfectly compliment Tom Ford’s minimal, modern, yet elegant aesthetic.
Worth 1000 Words: Can You Spot These Architectural Details Around Downtown?
Beautiful and exquisitely detailed architecture, from Beaux Arts grandeur to modernist zing, is everywhere in Downtown Miami; and much of it is waiting to be celebrated. Photographer Phillip Pessar documented some of the great and small highlights of Downtown’s architect…
U.S. 1 Paseo Project Could be ‘Big’ News for Coral Gables
Developer, NP International, is awaiting the City of Coral Gables’ approval to move forward with plans for Paseo de la Riviera, a $172 million, 2.66-acre, mixed-use project, shrewdly located across U.S. 1 from the Metrorail and the Underline. Replacing the existing Holiday Inn at 1350 South Dixie…
Florida Supreme Court rules in favor of Skyrise Miami
Rendering of SkyRise MiamiA ruling by the Florida Supreme Court in favor of Jeff Berkowitz’s Skyrise Miami project could put an end to the remaining legal challenges trying to stop the 1,000-foot observation tower from breaking ground. On Tuesday morning, the high court denied community…
Ocean Land Investments completes first new Fort Lauderdale condo project
Developer Ocean Land Investments has completed the first of at least six new condo projects announced for waterfront sites in the Downtown Fort Lauderdale and Beach market since this South Florida real estate cycle began in 2011.
Underwater homes are surfacing in Miami-Dade: report
As the national housing market continues its recovery, fewer homeowners in Miami-Dade County are reporting underwater mortgages. A new report from CoreLogic states home values in the United States have been rapidly increasing, which has helped alleviate the large numbers…
Quaye at Wellington nabs $53M construction loan
The Quaye at Wellington, a green-designed apartment community, has secured $53 million in construction financing, its financial advisers announced on Tuesday. Created by a team of Tampa-based developers, the project is to be built on 31 acres in the 1000 block of…
Miami nightclub E11even boosts mortgage to $18M
The owner of E11even, a 24-hour nightclub and cabaret, has boosted its mortgage to $18 million, Miami-Dade County records show. The 20,000-square-foot club, at 29 Northeast 11th Street in Miami, is a $40 million development that was completed in 2013. It’s across…
Historic Miami Beach building sells for $12.3M
London Arms, a historic hotel-turned-affordable housing complex in Miami Beach, was just sold for $12.3 million.
The four-story building is Neoclassical revival in style and was most recently owned by a joint venture between…
What FASB Changes Impact Lease Accounting
“Property management should immediately conduct a strategic evaluation of the existing lease portfolio…”
Historic Building With Coveted Address Trades
“This acquisition demonstrates a continued international appetite for well-located boutique assets with in-place cash flow and upside potential.”
Spider Crawls Into Edgewater With Fast-Track Model
Spider is ready to go to the Miami Design Board for review of its project just three weeks after closing on a four-acre land assemblage here.
All Aboard Florida Courts Azucar, Panther, Serfer for Downtown Station
Though completion of All Aboard Florida’s downtown Miami train is still two years away, company officials last week met with owners of some of Miami’s favorite spots in hopes of luring locals to the sprawling hub. Among those the company is trying to woo are Mignonette’s Danny Serfer, Blackbrick’s Richard Hales, Panther Coffee, Azucar…
Multifamily Loan Delinquencies Fall as Eager Lenders Provide Plenty of Capital
It’s relatively easy to find an apartment loan today. “For almost any apartment deal today, you can find a lender, you usually can find a couple of them,” says Mike Riccio, co-director of national production for CBRE Capital Markets. That’s partly because so few apartment loans are in trouble. Very, very few apartment loans were late in the…
Middle East Outbound Global Property Investment at Historic High in 2015
According to CBRE, during the first half of 2015, $11.5 billion of capital flowed out of the Middle East into direct real estate globally–surpassing the previous half-yearly high of $9.6 billion recorded in H1 2007. Total Middle East outbound investment during 2014 stood at $13.8 billion. The amount of the region’s foreign investment…