Downtown Miami
TotalBank lends $34M to build hotels in west Miami-Dade
TotalBank granted a $34.27 million mortgage to affiliate of Boca Raton-based Procacci Development to build a pair of hotels near the Dolphin Mall in Sweetwater. The Miami-based bank made the mortgage to Procacci Dolphin and Procacci Sweetwater. They started construction in late 2014 on a Hilton Garden Inn and a Homewood Suites…
Developer Of Twin Miami River Towers Spending $6.2 Million To Add Density
Kar Properties will pay $6.2 million to purchase additional development rights for their proposed 60-story twin tower project on the Miami River, a representative of the developer told a review board last month. The purchase will allow for an additional 480,000 square feet to be built on the top 24 floors of the towers.
Grow America Act could fuel highways
By all accounts, the economic success of South Florida depends in large part on the efficiency of its transportation infrastructure and needs adequate funding for maintenance as well as new projects, which the proposed Grow America Act promises to ensure through steady funding.
Related Group hands Miami a park for free
As developer The Related Group is busy putting finishing touches on its waterfront condo tower Icon Bay, work in also progressing on a new adjoining park – a public park. The developer dedicated a portion of land as a park, and gave it to the City of Miami. City commissioners recently accepted the land and approved a new plat…
Repossessed Plantation Crossroads sold at 51% discount
The Plantation Crossroads office and retail center sold at a 51 percent discount to its foreclosed mortgage.
An affiliate of a commercial mortgage-backed securities (CMBS) called JPMCC 2004-CIBC10 Plantation Complex seized the property at 1802 through 1876 N. University Drive, and 7811 West Sunrive Blvd. in Plantation…
Five significant developments proposed in Miami Beach
Five significant renovation and expansion projects are slated to go before the Miami Beach Historic Preservation Board, including big changes at two longstanding hotels and a museum. These items are on the board’s May 12 agenda to consider their impact on historical structures. If approved, they would need other city boards…
Fond Farewells: This Saturday, the venerable Art Gallery at 800 Lincoln Road…
This Saturday, the venerable Art Center South Florida had the last opening ever at its 800 Lincoln Road location. The art center was a big part of South Beach’s resurgence in the 1980s and 90s. The building was originally Burdines Department Store’s first Lincoln Road location, and will be converted…
Miami Museums building new facilities
Miami’s reputation as an emerging world-class cultural hub is gaining strength as museums and galleries work on new facilities for even better display of their collections. On the horizon is the Cuban Museum, scheduled to open Nov. 20 at 1200 Coral Way with an inaugural exhibit once the complete overhaul of its building is done.
Preservation Watch: Lincoln Road Church Development Lawsuit Thrown Out
The lawsuit filed by historic preservationists to stop developer David Edelstein from building a multi-level retail building in the courtyard of the Miami Beach Community Church has just been dismissed by the judge, and the developer hopes to start construction in 16 weeks. The courtyard is not…
Reasons Why One JV Paid $88M For CocoWalk
Surrounded by new residential towers, hotels, offices, schools, parks and marinas, CocoWalk’s tenants serve more than 150,000 Coconut Grove residents and millions of visitors each year.
Back to the drawing board for Crescent Heights’ SoBe project
Members of the Miami Beach Design Review Board on Tuesday rejected new proposals submitted by mega-developer Russell Galbut and called for design changes to be made to a mammoth, planned South Beach condo project…
Report: Miami home prices keep going up
March marked yet another month that home prices in Miami rose, according to a report from CoreLogic released Tuesday. The report stated that the city’s home prices jumped 7.1 percent when compared to March of 2014. Prices also grew 1.1 percent…
Proposed legislation could alienate bulk condo buyers
A new law designed to protect property owners being squeezed out of their homes could scare away bulk condo investors from Florida, some prominent Miami-based real estate attorneys told The Real Deal. Last week, the state Senate and House approved legislation that tightens the screws…
TRD insider interview video: Why Fort Lauderdale?
Following a lively panel discussion, at The Real Deal‘s Broward Real Estate Forum & Showcase, TRD South Florida‘s Managing Editor Ina Cordle sat down with Bradley Deckelbaum of Premier Developers to weigh in on the amenities that Broward, and specifically Fort Lauderdale…
How Key Biscayne is Dealing With Rising Sea Levels
Why One JV Paid $88M for CocoWalk
Coconut Grove posts some of the strongest year-round income demographics in South Florida. That’s just one of the reasons a three-way joint venture grabbed an 80% stake in the asset….
Why Greater Miami Needs Key Biscayne
“There are few major cities with an island destination like Key Biscayne so close to a growing urban core.”