The chart above displays the trailing two years ending December 2020 of closed sales of Miami-Dade commercial properties, including improved commercial property and vacant commercial land, recorded in the Miami MLS. After a bit of a pullback in November, sales rebounded to closed out the year fairly strong, registering the sixth strongest month of the […]
This property is under contract, to close on or before May 31. We are accepting backup offers. Contact James Hawkins for details. Related Destinations: Listing at LoopNet Zoning Map Zoning Code Excerpt: Increased density of up to 100 units per acre is permitted for affordable housing developments as defined by Section 420.0004, Florida Statutes. 2030 […]
As has been reported extensively in the press, a number of Metronomic properties are being auctioned. Stalking horse bids are now due by February 24, 2021. The properties being auctioned are available for purchase individually or in any combination, or one can bid on the entire package of properties. As can be seen, these are […]
The metropolitan statistical area (MSA) of Miami is among the 10 largest MSAs in the United States, with a population that is today estimated at in excess of 6 million. 100 years ago, however, Miami was a much smaller city, and its skyline was but a few low buildings on or near Flagler Street. Today, […]
As readers can see in the chart above of the trailing two years of closed sales of Miami-Dade commercial property, both improved commercial property (with buildings) and vacant commercial land, recorded in the Miami MLS. November 2020 pulled back a bit from prior strong months to around an average for the year. The Miami Multiple […]
This Wednesday, December 9th, at 6:30 PM the Miami-Dade County Department of Transportation and Public Works (DTPW) will soon be hosting a virtual public meeting seeking input on the preliminary design of the second phase of The Underline, a 10-mile linear park and urban trail under construction that will transform the land below Miami’s Metrorail. […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate within Miami-Dade County from $1 million to $10 million edged up in November to 93%, the highest level since the 94.5% ration in March of the same year. after a dip in September. This puts this ratio in […]
Downtown America is Becoming an Open Sewer as Dog Populations Multiply in Multifamily Towers As Americans have been moving back to the central business districts of its cities, a situation has been developing that has gone largely unnoticed except by those affected; downtown America is becoming an open sewer. In downtown areas it has become […]
As can be seen in the chart above of the unemployment rate in Miami-Dade for the year ending September 1, 2020, the unemployment rate as of September 1 went back up to 13.0%, not so far from its peak of 14.5% reached two months prior. This followed a welcome decline in the month between to […]
The sales to list price ratio as reported by the Miami MLS for improved commercial real estate within Miami-Dade County from $1 million to $10 million firmed back up in October to just over 90% after a dip in September. This put the ratio within but in the lower end of a 5% band it […]
As can be seen in the chart above of the trailing two years of closed sales of Miami-Dade commercial property, both improved commercial property (with buildings) and vacant commercial land, recorded in the Miami MLS. October 2020 was again a strong month in line with recent, also strong, months. The Miami Multiple Listing Service (MLS) […]
I regularly am in situations where a buyer is interested in some commercial property that is already under contract. It is the exception where I don’t recommend submitting a backup offer. There are two principal advantages to a buyer of submitting a backup offer in an effort to put a backup contract in place. Both […]
Stephen Ross, the chairman and majority owner of The Related Companies, a global real estate development firm he founded in 1972 that has been and continues to be very active in Miami, and owner of the Miami Dolphins, discusses reopening and the state of commercial real estate projects like Hudson Yards in New York in […]
In this video from Yahoo Finance, Doubleline Capital Portfolio Manager Morris Chen joins Julia La Roche and Zack Guzman of Yahoo Finance to discuss in some detail the latest commercial real estate outlook amid COVID-19. They talk about the variance in pain among various commercial real estate sectors as well as the offsetting positives of […]
Yields on 5-year U.S. Treasury Notes continue to remain at lows reached as we began the era of COVID. As can be seen in the chart above, these rates, most closely tracked for commercial real estate financing cost, plummeted from what were already considered low levels to under 50 basis points (0.5%), barely hovering over […]
From its peak of 14.5% reached in only the prior month, the unemployment rate in Miami-Dade county plummeted in August (8/1) to 8.1%, the lowest level since March when unemployment had jsut started to creep up but was still in low single digits (3.7%). The continuing effects of COVID-19 on employment, and thus the economy, […]
