Faena Miami Beach lands $80M construction loan
Alan Faena’s Miami Beach development received an $80 million construction loan, The Real Deal has learned. HSBC granted the mortgage to 3420 Collins Avenue LLC, a company tied to Faena and his Saxony Hotel, according to Miami-Dade County records. Faena Miami Beach spans from 32nd Street to 36th Street. It includes the Faena…
ComReal Miami Industrial Real Estate Market Report First Quarter 2015
The new year has started very strong for the Miami industrial real estate market. The average lease rates have already increased to $8.53 per sq. ft. and the average vacancy rate fell to 5.2%. The net absorption for the 1st quarter was an astounding 1.4M square feet. The largest lease so far this year…
Related Group’s Sonia Figueroa Named 2015 Woman of Influence
After 17 years shaping Miami’s skyline, now as senior vice president of development at The Related Group, and previously in the public sector with Miami-Dade County, Sonia Figueroa isn’t just influencing the city—she’s creating it. Describe your work in the public sector: I started in the planning department. It was…
The Secrets to the Galbut Family’s Success
The Galbut family’s love affair with Miami Beach began in 1931 when Abraham and Bessie Galbut moved to the city, opened Al’s, a shop that was equal parts drugstore, tag agency, notary public, and restaurant, and immersed themselves in the community. Their grandsons, Russell Galbut and Bruce Menin, cofounded with…
Bayfront Park Polluted with Lead and Arsenic; Needs Cleanup Pre Ultra 2016
Comment of the day (re 633 Observation Tower): “This is one of those rare times when…”
“This is one of those rare times when you can say “it’s all a façade” without any irony. I’m not the least bit against architecture for the sake of architecture, but to me this looks like something made to resemble a functional skyscraper but it’s totally empty. So long as you’re making a…
Maison & Objet, world’s top luxury decorative arts trade show, launches in Miami Beach
Design lovers in Miami will be treated to a delectable taste of France in May. Maison & Objet, the must-see event for design cognoscenti around the globe, has stood as the world’s premier luxury decorative arts trade show since it was founded 20 years ago. Serving up a selection of the finest furniture, objects, lighting, tableware, and accents…
Miami: The Next Global Frontier
Miami’s second annual eMerge Americas Conference marks another milestone in the city cementing itself as a hub for tech startups and entrepreneurs. In the last 18 months, Miami has established and cemented many of the key components it will need to continue to mature as a global hub for…
Coconut Grove Office Space: Follows Gables With Big Mo
Last year, I reported about how Coral Gables, FL is gaining office leasing momentum. Now, it seems Miami’s Coconut Grove submarket is following suit with investor interest…