Scott Robins’ new building off Lincoln Road for sale: $30M
A newly constructed building off Lincoln Road, developed by Scott Robins and Miami Beach Mayor Philip Levine, has just been up for sale for $30 million, The Real Deal has learned. The 18,000-square-foot, glass-enclosed building at 1000 17th Street in Miami Beach is the new site for Suitsupply, a European men’s brand that opened last month.
Big-name developers competing for $74M Miami-Dade affordable housing project
Some of South Florida’s biggest builders are among the six developers competing to redevelop Liberty Square in Miami as part of the county’s $74 million affordable housing project. The Liberty Square Rising project would create a new income-restricted community on the Lincoln Gardens site at 4750 N.W. 24th Court, and relocate…
Developers: Broward is hot competitor to Miami-Dade
Three active developers in Broward County said the area is a hot spot for condo and retail projects and is competing well with Miami-Dade County for development dollars. “We’ve never seen Broward more vibrant, so interesting …. Right now is the time to jump in,” said Harvey Hernandez, chairman and CEO of Miami-based Newgard Group…
Too Big And Intense: One Brickell May Need To Be Redesigned After Neighbor Complains
One Brickell’s approval by the city’s Planning Department is being appealed by a neighbor. A lawyer representing 500 Brickell’s condo association filed the appeal last month. In a letter, he wrote that that the project is “too big and intense” for the property on which it is proposed at 444 Brickell Avenue. As part of the approval, the Planning…
Technology Company Magic Leap To Move Into 340,000 SF Facility
The secretive company is consolidating the majority of its Florida workforce.
U.S. Customs Brokerage Firm Inks 14,000 SF Lease Deal
NAI Miami’s Lucia Custer and Gabriel Garcia-Menocal, SIOR negotiated the 5-year deal.
Judge Rules for Business Partner in Disputed Lot Sales
A judge rejects a breach of fiduciary duty claim in a dispute between two business partner over the $2.5 million bulk sale of 279 lots.
Lennar Forms $1.1 Billion Equity Fund for Multifamily Development
Homebuilder Lennar Corp. has formed an equity fund between Lennar Multifamily Communities and global sovereign and institutional investors with $1.1 billion in equity commitments, including a $504 million co-investment commitment by Lennar. The new fund, Lennar Multifamily Venture, will seek to…
Miami Design District Bldg Sold for $24M
The Comras Company, Inc. sold the retail building at 17-27 NE 39th St. in Miami, FL for $24 million, or approximately $2,900 per square foot, to a joint-venture between RedSky Capital LLC and London-based JZ Capital Management. Delivered in 1972, the 8,300-square-foot, multi-tenant retail strip…
Apple Hospitality REIT Pays $23M for Hampton Inn Fort Lauderdale
Apple Hospitality REIT, Inc. acquired the 156-room Hampton Inn Fort Lauderdale at 250 N. Andrews Ave. in Fort Lauderdale, FL for $23 million, or about $147,000 per door, from Hospitality Opertaions, Inc. Built in 2002, the 11-story, 136,609-square-foot hotel sits on eight-tenths of an acre in the…
Melo Group’s Aria on the Bay Breaks Ground Early
The Melo Group has broken ground on its luxury condominium project, Aria on the Bay, at 1770 N. Bayshore Dr. in Miami, FL. Aria is located near Biscayne Bay, which is situated in the heart of Miami’s Arts & Entertainment District and within walking distance to the Adrienne Arsht Center’s…
Shore Club project demolition approved for Cromwell Hotel
After four hearings before the Miami Beach Historic Preservation Board, New York-based HFZ Capital Group received approval to carry out the “near total demolition” of the Cromwell Hotel, a structure that will be part of an eventual luxury condo-hotel complex anchored by the iconic Shore Club hotel at 1901 Collins Avenue. Saying…
Mindboggling Reveals: Miami River Jose Marti Park Could Get Big Revamp & Big Art
On Monday, the Miami River Commission reviewed plans submitted by the Chetrit Group to redo Jose Marti Park to plans by landscape architect Raymond Jungles, connecting it by river walk to their neighboring project and adding a massive hanging sculpture to the highway above. This is basically how…
All Aboard Florida, the passenger rail line that the Florida East Coast Railway is constructing between Miami and Orlando, is making fast progress on all three of its South Florida stations, and they want the world to know it. They put together three videos on the construction of the biggest stations…
Eco-Village Looks To Expand Miami-Dade Development Boundary
A new development project, Green City, just released its plans to build a 860 acre eco-friendly village in west Miami-Dade County. The ambitious project is slated to be built over the next two decades and calls for the inclusion of, among other things, 1.36 million square feet of retail, 11,401 new homes (a portion of which will be set aside…
Aldi to Open on Biscayne July 23rd
Aldi, the king of discount grocers, opens its newest location at 1290 NE 108th St. next week. The chain, along with Trader Joe’s, is owned by Germany’s Albrecht family — Trader Joe’s is operated by Aldi Nord and Aldi is operated by Aldi Sud. It is modeled after sensible German grocery stores, where shoppers prefer a no-frills experience…
Design Firm PlusUrbia Proposes to Transform ‘Highway Ocho’ into a Main Street Again
The Florida Department of Transportation is currently studying Little Havana’s main street, SW 8th Street, also known as Calle Ocho, along with the accompanying SW 7th, going from I-95 as far west as SW 27th Avenue, as part of all the new West Brickell development. Both SW 7th and 8th Streets are…
Real Estate Spinoffs, Monetization and High-Yield Investments
Some of the most active areas in real estate today are being driven by operating companies and investors eager to monetize the value trapped in their real estate holdings. Both can benefit via such methods as non-recourse financing, sale-leaseback transactions and, increasingly, REIT conversions and…
This Downtown Street Seeing Triple-Digit Appreciation
It took Miami Beach’s Lincoln Road decades to experience that kind of appreciation. What’s going on?…
Why Flagler Street is Suddenly En Vogue
Investors are pouring millions of dollars to buy old office and retail properties in an area public and private investment has largely ignored for decades.
South Florida 6th-worst for foreclosures in first half 2015, RealtyTrac says
Foreclosure filings dropped significantly in South Florida during the first half of 2015, but the region still had the sixth-highest foreclosure rate, according to RealtyTrac. There were 28,409 foreclosure filings in the tri-county area during the six-month period, a 30 percent drop from the same time a year ago. RealtyTrac counted new…