New York Real Estate Developers Flock to Miami as the Big Apple Struggles New York families are not the only ones migrating to Florida in search of lower taxes, a better quality of life and year-round warm weather. Since the onset of the pandemic, a growing number of New York real estate developers have been […]
Make-A-Wish pays $8M for Overtown dev site The South Florida branch of nonprofit Make-A-Wish paid about $8 million for 1.6 acres of land in Miami’s Overtown neighborhood. Make-A-Wish bought the land at 350 Northwest Sixth Street, according to a press release. The nonprofit plans to build the 30,000-square-foot Finker-Frenkel House for administrative offices, donor events […]
Atlanta Fed: Beige Book Finds Scattered Bright Spots amid Pandemic Economy Economic conditions in the Southeast continue to be shaped by the COVID-19 pandemic, as overall activity expanded modestly and scattered bright spots emerged from mid-November through December, according to the latest Beige Book report of economic conditions from the Federal Reserve Bank of Atlanta. Labor […]
CenterPoint pays $184M for warehouses at Hialeah business park CenterPoint Properties Trust continued its buying spree at a Hialeah business park. The Oakbrook, Illinois-based industrial real estate developer and manager paid $184.4 million for two warehouses and land at and near 4040 West 108th Street, inside Countyline Corporate Park, according to records. The seller is […]
Magellan sells Midtown Miami apartments for $154M Magellan Development Group sold its 400-unit Midtown Miami apartment tower for $154.35 million. The Chicago-based developer sold the 26-story tower, called Midtown Five, near the intersection of First Avenue and 32nd Street at 125 NE 32 Street, according to records. The buyer is an affiliate of Sterling Equities. […]
TA Realty buys back industrial property in Hialeah as part of $52M deal TA Realty bought back pieces of an industrial portfolio in Hialeah in a deal totaling $52 million. Cofe Properties sold the assemblage of more than 40 parcels at and near 2500 West 84th Street, 1604 West 31st Place and 2440 West Eighth […]
Greenstone pays $78M for Miami Gardens apartments A New York real estate investment company paid $78 million for a 491-unit multifamily complex in Miami Gardens. Greenstone Property Group bought the property, called Lake House Apartments, at 2545 Northwest 207th Street, according to a press release. That equates to about $159,000 a unit. Ytech, a Miami-based […]
Royal Palm Buys Parcel at Miami Worldcenter for $33.9M, Plans to Develop Mixed-Use Tower Royal Palm Cos. (RPC) will develop Legacy Hotel & Residences, a 50-story mixed-use building featuring 256 hotel rooms and 274 apartment units, within Miami Worldcenter. The master developer of Miami Worldcenter, Miami World Center Associates, sold the 1.5-acre plot to RPC […]
Banesco USA pays $12 million for new HQ in Doral Banesco USA is moving headquarters but the bank is going very far. The company, which has been based in Coral Gables, paid $11.95 million for a new HQ in Doral. Banesco USA purchased the 59,140-square-foot building at 3155 Northwest 77th Avenue from Windhaven Insurance Company, […]
Michael Stern pays $24M for future site of 62-story Brickell tower Developer Michael Stern closed on an assemblage of properties in Miami’s Brickell neighborhood where he plans to build a 62-story tower, The Real Deal has learned. Stern, who leads New York-based JDS Development Group, paid $9 million for property at 191 Southwest 12th Street. […]
Despite pandemic, PortMiami sets all-time cargo record PortMiami just posted the biggest import-export numbers in its 80-plus-year history, new Miami-Dade County figures show, exceeding its prior record by 1.5% despite the difficulties that come with operating under coronavirus conditions. The port processed 107,088 twenty-foot equivalent units of cargo in October compared to 105,573 in 2019, […]
Melo Group Tops Off Miami Twin Towers Downtown 5th, a downtown Miami mixed-use multifamily property with 1,042 units planned for two 52-story buildings, is moving closer to completion as construction crews have topped off the East Tower and expect to top off the West Tower later this month. Developer Melo Group expects construction to be […]
Miami-Dade’s Retail Market Posts Net Negative Absorption, Rent Declines in Third Quarter Miami-Dade County’s retail market posted 120,934 square feet of negative net absorption in the third quarter, according to research from Colliers International. The decline is a sizable improvement from the second quarter, a period where the market gave back 230,698 square feet of […]
Voters decide South Miami, Surfside and Bal Harbour real estate referendums Voters weighed in on South Miami zoning rules, Surfside public property sales and Bal Harbour building heights, producing mixed results from Tuesday’s election. South Miami A referendum in the city of South Miami failed to pass on Election Day, so zoning vote requirements will […]
Photos Show the Massive $452 Million River Landing Project Now Complete River Landing Shops & Residence, a massive mixed-use complex, is now open on the Miami River. It took nearly a decade to develop the project. Developer Urban-X Group first put the former Mahi Shrine Auditorium property where River Landing is located under contract in […]
South Florida Q3 office rents hit record high, despite higher vacancies Despite record high office vacancies across South Florida, average asking rates hit new highs Despite record office vacancy rates across South Florida, average asking rents hit new highs in the third quarter, according to a newly released report. Miami-Dade had the highest average asking […]
