Variance Requested For Citadel HQ Brickell Supertall Rooftop Crown
A variance is being requested from Miami-Dade in order to build a supertall rooftop crown at the Citadel HQ tower proposed in Brickell. Plans for the large crown were submitted to county planners in March, in a revision from earlier plans for the tower submitted in October. Miami-Dade’s Rapid Transit Zone Metromover Subzone regulations includes visual corridor requirements…
Revised Plans Filed For Citadel’s Brickell Supertall Tower
Revised plans have been for the supertall office and hotel tower planned by Citadel on the waterfront in Brickell. Plans for the tower were first submitted to Miami-Dade County for site plan review in October 2024, and the revisions were submitted in late March (multiple revisions of development plans are typical during the county review process). The height of the building…
$51.5M Refinancing Arranged for Dadeland Centre Office Buildings in Metro Miami
JLL has arranged $51.5 million for the refinancing of Dadeland Centre I and II, two office buildings within the Dadeland Centre complex in metro Miami. Paul Stasaitis led the JLL team in arranging the 10-year, fixed-rate loan through Goldman Sachs on behalf of the borrowers, The Green Cos. and an entity doing business as Dadeland Centre. Built in 2003 and 2008 by The Green Cos…
$8.6M Sale of Retail Center in Miami’s Little Havana Neighborhood Brokered
Marcus & Millichap has brokered the $8.6 million sale of Village Shoppes, a 26,648-square-foot retail center located in the Little Havana neighborhood of Miami. Situated at 503–533 SW 12th Avenue, the center comprises two parcels with multiple stores, 30 parking spaces and more than 325 feet of retail frontage. The property also allows for 40,000 square feet of future development…
Developer proposes 166-unit Live Local Act tower in Miami’s Little Havana
A developer proposes a 166-unit Live Local Act project in Miami’s Little Havana neighborhood, marking a continuing flurry of project applications under the state’s affordable housing law. An entity led by Khashayar Khazai and Shane Shapiro of Sunny Isles Beach wants to build a 23-story tower with 400 square feet of commercial space on a half-acre site at 521 and 531 SW 7th St…
41-Story Live Local Tower Planned In Wynwood Norte
Miami’s Urban Development Review Board is scheduled to meet today to discuss a proposal to build a 41-story tower in Wynwood Norte. The development is proposed under Florida’s Live Local Act, allowing certain zoning rules to be bypassed by committing a percentage of units to be income restricted. The tower is proposed to include: 234 residential units ground floor retail…
Blackstone boosts South Florida portfolio with $116M multifamily buy
Blackstone is wheeling and dealing in South Florida, picking up a fairly new Miami Lakes multifamily project for $115.9 million, about the same time the global investment firm sold a Hialeah office building. An affiliate of New York-based Blackstone, led by Stephen Schwarzman, acquired Solea at Miami Lakes at 17405 Northwest 94th Court, records and real estate database Vizzda show.
800-Room Miami Beach Grand Hyatt Gets $392M Construction Financing, Completion 2027
Two of Miami’s biggest developers have secured construction financing for the massive Grand Hyatt convention center hotel in Miami Beach. The development team led by David Martin’s Terra and Jackie Soffer’s Turnberry obtained $392 million in construction financing from TYKO Capital. It is the largest standalone hotel loan issued in Miami in over a decade.
Miami Beach moves forward with Meruelos’, Terra’s controversial Deauville project
Tensions ran high during a Miami Beach commission meeting on Wednesday over the Meruelo family and David Martin’s proposed redevelopment of the Deauville Beach Resort. The Meruelo family and Terra plan a 120-unit condo and 150-room hotel project on the 3.8-acre oceanfront site at 6701 Collins Avenue. The project, with two condo buildings and the hotel…
South Florida became a magnet for out-of-state companies in recent years, prompting giddiness over the tri-county region’s office market. Even as headwinds emerged, developers pushed new projects through approvals. But now, many of the planned offices remain concepts on paper. Office construction starts in Miami-Dade County –– an epicenter of recent years’ bonanza…
Photo: Construction Progress On Double Deck Highway
A photo shows construction progress on a double deck highway, part of the Downtown Miami Signature Bridge and highway reconstruction project. Completion of the project is still scheduled for late 2027, with a budget of $840 million, according to the project website. The estimated completion date has remained the same for around two years now…
Miami Office Campus Dadeland I and II Lands $52M Refi
Now 93 percent leased, Dadeland Centre I and II were delivered in phases, in 2003 and 2008. Image courtesy of JLL The Green Cos. has secured a 10-year, fixed-rate loan from Goldman Sachs for Dadeland Centre I and II, two office buildings located in Dadeland, Fla. JLL Capital Markets arranged the $51.5 million in leasehold financing. “The lender keenly focused…”
Total Demolition Permit Approved For One Brickell City Centre Property
A total demolition permit for a building at the One Brickell City Centre site has finally been approved. Approval for the permit was issued this morning. It was first applied for in April 2023. Demolition of another building at the One Brickell City Centre site was approved under a separate permit in 2023. That demolition is now complete, but it was delayed after debris fell…
Empira Breaks Ground On ENSO In The Roads
Switzerland-headquartered investment manager Empira Group celebrated the start of construction for ENSO in The Roads. ENSO will include 85 Class A rental units, in a building designed by Revuelta Architecture. Units will range from one to three bedrooms. Ten of the units will be premium apartments, with private terraces spanning 700 to 1,000 square feet.
233-Unit Luxury Condo Planned In Wynwood, Units Can Be Listed On Airbnb
Plans have been announced for a luxury 8-story condo building in Wynwood. The building will be known as Twenty Sixth & 2nd Wynwood Residences. Twenty Sixth & 2nd Wynwood Residences will be the first luxury condo building with deeded office suites partnered with Airbnb. It will include 233 residential units, which can be hosted along with the office suites…
Joe Carollo won’t face criminal charges for harassing Little Havana developer Bill Fuller
Miami City Commissioner Joe Carollo won’t face jail time for allegedly stalking Little Havana developer Bill Fuller. On Tuesday, the Broward State Attorney’s public corruption unit closed a criminal investigation into allegations that Carollo stalked Fuller, as well as falsely accusing establishments he owns of committing crimes. Investigators also probed accusations…
Coral Gables Centennial: Biltmore helped battle early competitors
The developer of Coral Gables, George Merrick, had grand plans that included keeping an eye on competitors who were developing their own big projects nearby. Two days after the first flurry of advertisements announcing the Miami Shores development, Mr. Merrick announced his great hotel, holding a dinner for 200 dignitaries at the Coral Gables County Club…
Lyle Stern, Kerry Newman propose 400-unit Live Local Act project in Miami’s Allapattah
Commercial real estate brokers Lyle Stern and Kerry Newman propose a 400-unit Live Local Act project in Miami’s Allapattah. Stern and Newman, of Miami Beach-based Vertical Real Estate, propose a 24-story building on a 1.2-acre site at 2186 Northwest 13th Avenue and 1330-1342 Northwest 22nd Street in Miami, according to their filing included in a city board meeting’s…
Vast Braman Motors Edgewater remake to add two 60-story towers
Braman Motors, a long successful and foundational business venture in the City of Miami, is about to expand dramatically with a growth spurt of sweeping proportions that would include two new 60-story residential towers. The Braman company, utilizing special development options in the Miami 21 zoning code, plans to start construction on a phased redevelopment…
Hialeah to consider affordable housing density bonuses
Developers could add more density to mixed-income multifamily projects in Hialeah, if they set aside units for low-income residents. On Wednesday, the Hialeah City Council will hold a first reading vote on an ordinance that would boost development sites, by allowing 100 units per acre instead of the current 70 units per acre. The catch? Developers would have to set aside…
$87.7M Financing Secured For Seagis Miami-Dade County Industrial Portfolio
JLL Capital Markets worked on behalf of the borrower, Seagis Property Group, to secure an $87.7 million loan for the Miami-Dade County portfolio through a life insurance company. The Miami-Dade County portfolio consists of seven fully leased industrial properties totalling 787,728 square feet. The assets are strategically located in highly sought-after industrial submarkets…
Seagis nabs $88M refi for Miami-Dade industrial portfolio
Seagis Property Group landed an $87.7 million refinancing for an industrial portfolio in Miami-Dade County. State Farm Life Insurance Company provided the loan to Conshohocken, Pennsylvania-based Seagis, led by John Begier, records show. A JLL team led by Jim Cadranell and Gregory Nalbandian arranged the financing on behalf of Seagis, a press release states.
Here’s how South Florida condo developers are prepping for tariffs
The sudden panic resulting from President Donald Trump’s tariffs has subsided, and despite his 90-day pause on country-specific duties, fees on steel, aluminum, lumber and other materials remain in effect. That includes a universal 10 percent tariff on all goods coming into the U.S. Since Trump’s announcement on April 2 and the pause just one week later, developers, contractors…
$16M Sale of North Miami Shopping Center Arranged
Avison Young has arranged the $16 million sale of Sans Souci Plaza, a 47,350-square-foot retail property located at 2104 and 2222 NE 123rd Street in North Miami. This acquisition marks the first time the center has been sold. The property — which is anchored by Zaika Indian Cuisine and Catch Specialty Fish Market — comprises two buildings constructed in 1974 and 1976.
$155 Million in Financing Secured For 40-Story Flow House at Miami Worldcenter
Invictus Real Estate Partners and Integritas Capital have closed on a $155 million construction completion and condominium inventory loan for Flow House, a 40-story residential tower located at 697 North Miami Avenue within Miami Worldcenter. The financing supports the project’s transition from a rental development to a condominium offering, which has become…
Developers Propose ‘Black Creek Apartments’ in Miami’s Goulds Neighborhood
Developers have proposed a multi-family housing development for Miami’s Goulds neighborhood. Black Creek Apartments would measure seven stories above grade and feature 252 apartments. Residences would include one-bedroom and two-bedroom floorplans, occupying a vacant 5.28-acre site. Communal amenities would include a ground-floor swimming pool…
Braman Miami Campus Expansion Proposed
Miami’s Urban Development Review Board is scheduled to have a hearing on an expansion of the Braman Miami Campus. Plans show a new 11-story automotive building, including sales and service uses. A woonerf is proposed to be built as part of a focus on pedestrian-level improvements in the area, with a new public park. A gas station on the campus would be “reimagined” with…
Miami Worldcenter Plans Grand Opening Party
Miami Worldcenter is planning a grand opening celebration for the new “city within a city” next month. The event will include performances by Flo Rida, Nicky Jam, and Shaggy, with a special guest performance by Lee Greenwood and a block party stage featuring Alesso. A fireworks display is planned. Miami Worldcenter is a 27-acre, 10-block development with a total…
Three Cranes Installed To Build $185M Complex Next To Wynwood
Three tower cranes have been installed at the Rainbow Village construction site adjacent to Wynwood. The $185m mixed-use development is being built on county-owned land at the border of Wynwood in Overtown. Rainbow Village is planned to include: 310 affordable housing units around 12,000 square feet of retail more than 50,000 square feet of amenity space 442 parking spaces…
PMG, Lndmrk plan short-term rental-friendly condos in Miami’s Wynwood
PMG and Lndmrk Development are teaming up to build a short-term rental-friendly condo project in Miami’s Wynwood neighborhood. The developers are planning the eight-story, 233-unit Twenty Sixth & 2nd Wynwood Residences at 2600 Northwest Second Avenue in Miami, according to a press release. They are buying the development site for an undisclosed…
465-Unit Magnus Brickell Reaches Completion
Get ready for hundred more residents to move into Brickell. A grand opening celebration took place last week for the 29-story Magnus Brickell tower (it was formerly known as The Gallery at West Brickell). Magnus Brickell is a Class A apartment development that includes 465 residential rental units. The unit breakdown includes: 302 market-rate units 93 units for households…
$27M Refinancing Secured for Midtown Miami High-Rise Development at 3452-3470 North Miami Avenue
South Florida-based Cymbal DLT Companies has secured a $27 million refinancing loan for 3452-3470 North Miami Avenue, a 25,000-square-foot existing mixed-use retail and office building located in Midtown Miami. Linkvest Capital provided the refinancing through its lending affiliate LV Lending, a Miami-based private lender specializing in bridge financing…
Demolition is steadily progressing at 1401 Brickell Avenue, where a 14-story, 236,877-square-foot office building is being cleared to make way for Santander Tower—a forthcoming 41-story Class A office development in the heart of Miami’s Financial District. Demolition is being carried out by The BG Group LLC. Aerial imagery captured in mid-March reveals the existing structure…
Brickell 2035: The Future of Real Estate Development in the Heart of Miami
In this article we want to take you on a journey into the future… specifically, to the year 2035, where the Brickell skyline, Miami’s financial heart, will be unrecognizable compared to today. This article is designed for those who look beyond the present and seek investment opportunities with a long-term vision. Because if there’s a city in the United States with impressive…
Nicklaus Children’s Hospital signed a lease for space at Columbus Center in Coral Gables. The hospital leased 67,700 square feet at 1 Alhambra Plaza, according to Cushman & Wakefield’s first quarter office report for Miami-Dade County. Columbus Center, consisting of a 14-story building and an eight-story building, faced debt woes for much of the past year. Last month…
Chicago-based 2455 Polk LLC has proposed a low-rise housing development in Broward County. Current plans call for a four-story development with 30 units, including one-bedroom and two-bedroom floorplans. The average residence will measure 735 square feet. They will likely be at-rate units. RentCafé reports that the average cost of an 890-square-foot apartment…
A company led by Mark S. Gold, founder of The Ticket Clinic, advanced plans to build a condo-style storage facility in Pembroke Pines for collectors of expensive cars. The Pembroke Pines City Commission voted Wednesday to rezone the development site of the unnamed car-storage condominium on Pines Boulevard west of I-75. The development would have 44,000 square feet…
$260M CMBS loan heads to special servicer; debt secured by struggling Pembroke Lakes Mall
Brookfield Asset Management still hasn’t figured out what to do about a maturing $260 million commercial mortgage-backed securities loan secured by a struggling South Florida mall. And now the Toronto-based global investment firm is a step closer to facing foreclosure on the debt. The CMBS loan has been transferred to a special servicer for maturity default, according…
120-Unit Affordable Housing Venture Proposed for Sunrise
Yesterday, Florida YIMBY reported on The Powerline Apartments, of which could be Oakland Park’s first community under the Live Local Act. Now, we have learned of another project that will be its city’s first venture under the Act. Pine Island Park, located in Sunrise, would comprise 120 homes. For a project to be considered under the Live Local Act, at least 40 percent…
Construction is officially underway on the Waldorf Astoria Residences Pompano Beach (The Residences), a 28-story luxury condominium tower set to rise on a two-acre oceanfront site at 1350 South Ocean Boulevard in Pompano Beach, Florida. Developed by Related Group and Merrimac Ventures in collaboration with Hilton, the project marks the debut of Waldorf Astoria’s standalone…
BlueWater buys Boathouse Marine Center in Pompano Beach for $16M
BlueWater Marinas beefed up its portfolio with the Boathouse Marine Center in Pompano Beach. The Charleston, South Carolina-based firm bought the 36,000-square-foot building at 599 South Federal Highway for $16.1 million from Fort Lauderdale-based Roschman Enterprises, according to records and real estate database Vizzda. BlueWater also purchased fixtures…
Developer Proposes ‘Powerline Apartments’ for 917 N.W. 36th Street in Oakland Park
Two developers have proposed what could be the first Live Local community in Oakland Park. The Powerline Apartments would measure nine stories and require 325,761 square feet of new construction, occupying a vacant 2.4-acre site. The community would feature 257 homes, with square footage ranging from 455 to 1,121 square feet. Layout plans include studio to two-bedroom units…
Waypoint wins approvals for 286-unit Oakland Park development
Waypoint Residential advanced plans for Cypress Crossing, a mixed-use development with 286 apartments that would replace parking lots in the Cypress Creek area of Oakland Park next to I-95. The Oakland Park City Commission voted Wednesday on second reading to approve a master plan of development and six zoning waivers for Cypress Crossing, which would have more…
Canadian investor pays $21M for Boca Raton office building
A Canadian investment firm bought an office building in Boca Raton for $20.6 million. Ontario-based Axia GeoCapital, led by Nickolas Georghiades, bought the seven-story One Park Place office building at 621 Northwest 53rd Street and adjacent garage at 601 Northwest 53rd Street at the Park at Broken Sound, according to records. The buyer borrowed $16.3 million for the purchase…
Newly released photography reveals the completed exterior of Lumaire, a 23-story high-rise luxury rental tower situated at 201 Clearwater Drive, along the Clear Lake waterfront in Downtown West Palm Beach. Designed by Carl Levin Architecture + Design (CLA+D) and developed by Hyperion Group, the 457-unit tower contributes a distinctive formal…
Blackstone and Link Logistics unloaded another set of South Florida warehouses. Affiliates of Blackstone, a New York-based investment giant led by Stephen Schwarzman, and its Link subsidiary sold three industrial sites in Dania Beach and Miramar for a combined $120.5 million to Ares Management, records and real estate database Vizzda show. Link, also based in New York…
Commercial real estate is a complex and dynamic sector that requires a sharp understanding of economic, demographic, and cultural trends. In a recent episode of America’s Commercial Real Estate Show, the host spoke with Phil McAllister, head of research with Inland, about these trends and how they might impact decision-making in the real estate industry.
Measuring uncertainty : FRED has several series to help you gauge economic and financial uncertainty
How certain are you of what’s going to happen over the next few months? People’s confidence in anticipating the future dwindles during periods of major economic change. Economists and analysts try to gauge the level of uncertainty about economic conditions because it can affect economic decisions (saving, spending, investing, switching jobs…), which can affect aggregate…
Florida lawmakers consider bill that would eliminate real estate’s regulatory board
The future of the Florida Real Estate Commission is in the hands of lawmakers. FREC, which oversees real estate agents, brokers and brokerages, could be eliminated under proposed legislation aimed at de-regulating industries such as real estate. House Bill 1461 calls for the repeal of FREC, among other boards and commissions that fall under the Department…
$3 Billion In Self Storage Sales In 2024 Pave The Way For A Strong 2025
The self storage industry had a big year in 2024, with 822 properties sold for a total of $3 billion. More than 51 million square feet of storage space changed hands, making up 2% of the country’s total inventory. Investor demand stayed strong, fueled by the sector’s steady cash flow and ability to perform well in diverse market conditions. The average sale price settled at $108 per square foot…
Beige Book Reports Growth but also Uncertainty
The Federal Reserve Bank of Atlanta’s new Beige Book reports mostly neutral to negative feedback from business contacts, even as the Southeast’s economy grew slightly from the middle of February through March. For example, many firms reported reasonably stable demand for workers and mostly unchanged staffing levels. Yet a small but growing share of contacts…
Is It Time to Play the Contrarian Card?
The real estate development boom of 2021–2023 feels like a distant memory compared to the current challenges of ground-up development today. Back then, nearly every project a developer considered seemed viable. Multifamily rents were climbing by 10% annually, demand surged due to pandemic-driven relocations, cap rates hit historic lows, and developers could secure debt…
Economic Uncertainty Grows, But Apartment Demand Nationally Prevails
Despite softer economic fundamentals, multifamily demand remains strong. Over 138,000 apartment units were absorbed in 1st quarter 2025, a record high for the first three months of the year. Atlanta led all major markets in 1st quarter absorption, followed by Phoenix and Dallas. Anaheim was the only major market to record net move-outs during the quarter.
In a recent episode of America’s Commercial Real Estate Show, the host welcomed James O’Brien, a partner with Seyfarth Shaw, a prominent law firm with a significant commercial real estate group. The discussion focused on Seyfarth Shaw’s annual survey of their clients, which provides insights into the thinking and strategies of major players in the commercial real estate…