Brickell’s Mandarin Oriental Closing Soon To Make Way For 850-Foot Tower
Brickell’s Mandarin Oriental hotel will close next month to make way for two new towers, according to the SFBJ. The closing date is May 31, according to an employment notice filed with the State of Florida. Two new towers are planned to be built on the property, following demolition of the existing hotel. One tower will rise 66 stories, or 850 feet, while the second tower…
City National Bank of Florida Signs Record Miami Lease
Completed in 2008, the Coral Gables office building rises 15 stories at 2701 S. Le Jeune Road. Image courtesy of CommercialEdge City National Bank of Florida is consolidating its growing Miami-Dade County workforce at 2701 S. Le Jeune Road, a 15-story office building in Coral Gables, Fla. The state’s second-largest bank will occupy 144,878 square feet at the property…
City National Bank of Florida opening new HQ in Coral Gables, marking year’s biggest office lease
City National Bank of Florida will open a new 145,000-square-foot headquarters in Coral Gables, marking the biggest office lease in South Florida so far this year. The bank leased at 2701 South Le Jeune Road, a 16-story building owned by Spanish billionaire Amancio Ortega’s investment firm Ponte Gadea, according to the tenant’s news release. More than 800 employees…
Three Office Leases Brokered to Bring Plaza Coral Gables in South Florida to Full Occupancy
A broker has negotiated three office leases at The Plaza Coral Gables, a mixed-use development in the Miami suburb of Coral Gables that includes two Class A office towers exceeding 450,000 square feet. The latest round of leases brings the property’s office component to full occupancy. These deals include Baycrest Partners (1,800 square feet), ALTI (6,000 square feet) and…
Rent reprieve: Miami rates drop nearly 8% y-o-y, amid supply overhang
After leading the nation in apartment rent hikes in recent years, South Florida is getting a reprieve. In Miami, monthly rents for two-bedroom units averaged at $3,350 in March, down 7.7 percent, year-over-year, according to a Zumper report. One-bedroom units averaged $2,550, or a 5.9 percent drop compared to March of last year.
Adam Neumann lands $155M loan for Miami Flow House condos
Adam Neumann scored a $155 million loan for his under-construction Flow House condos in downtown Miami. Invictus Real Estate Partners and Integritas Capital, both based in New York, are providing the $155 million construction and inventory loan to Neumann’s Flow, according to a press release. The WeWork founder is planning the 40-story, 466-unit Flow…
Views of Residential Towers Along Biscayne Boulevard Across from Museum Park in Downtown Miami
Aerial views of the stretch along Biscayne Boulevard between Northeast 8th Street and Northeast 11th Terrace highlights a striking collection of high-rise residential towers directly across from Museum Park in Downtown Miami, each reflecting varied architectural approaches and development timelines. The buildings include Marina Blue, 900 Biscayne Bay…
Vertical Construction Underway At 38-Story Luxury Edgewater Tower
In Edgewater, a 38-story luxury apartment tower is now going vertical. Apartment operator Aimco is partnering with a leading global investment firm on the development, and will have a 44% ownership stake. The new $240m tower will have just 114 luxury apartments, with 291,000 rentable square feet. That equates to an average apartment size of over 2,500 square feet.
47-Story House Of Wellness In Brickell Submitted To FAA For Review
A proposal for a 47-story Brickell tower called House Of Wellness have been submitted to the Federal Aviation Administration for review. The agency received the application on April 7. The tower is proposed to rise 467 feet above ground, or 477 feet above sea level, according to the filing. A construction crane is estimated to be installed in January 2026. It is proposed to rise 530 feet…
Brickell’s 67-Story Mercedes Benz Places Rises Above Ground Level (Photo)
The 67-Story Mercedes-Benz Places in Brickell is now rising above ground level. The development will include two towers, with 800 apartments. There will also be 130,000 square feet of amenity and hospitality space, 250,000 square feet of office space, a 174-key hotel, a fire station, and over 800 parking spaces. Occupancy is estimated to be in 2027.
Here’s How Many Ride Tri-Rail’s New Express Train To Downtown Miami
Tri-Rail has released ridership information for its new one seat ride into downtown Miami. The service launched in July 2024, with a weekday southbound morning train and a northbound evening train. Passengers can remain on the same train out of downtown Miami, with limited stops on the ride to West Palm Beach. Ridership on the express service is now…
Residential tower enters deal to sell county courthouse
The sole bidder to acquire the historic Miami-Dade County Courthouse downtown is proposing to build a residential tower on the north side of the parcel including condominiums and apartments, though the county has not yet struck a deal to sell him the land. GFO Investments, led by local developer Russell Galbut, issued a press release last week sketching plans to turn…
Miami Office Leasing Surges in Q1 with Smaller Spaces Leading Demand
Activity is off to a hot start in Miami’s office sector this year as tenants look for smaller spaces in the post-pandemic world. A first-quarter report from Avison Young shows that one million square feet of leases were signed, up 26.5 percent from the same three-month period a year ago. Leasing activity rebounded in the first quarter of 2025 “after a sluggish 2024,” Avison Young noted.
Russell Galbut makes another play for historic Miami-Dade courthouse
For the second time in eight years, Russell Galbut is seeking to make a deal with Miami-Dade County for control of the historic Flagler Street courthouse, among the most iconic buildings in downtown Miami. This time around, Galbut is showing confidence he will come out on top. Recently, Miami-based GFO Investments, a development firm led by Galbut and his daughter…
World Trade Center sees Miami well positioned in tariff war
As the global market scrambles to adjust to effects of sweeping tariffs imposed by the Trump administration, Miami is in a unique position to mitigate and withstand the effects, owing to its long-standing reputation and experience as a global trading hub, one observer says. Alice Ancona, chief operating officer of the World Trade Center Miami, says Miami, with its long history…
First Crane Installed At 56-Story Construction Site In Edgewater
The 56-story Villa Miami Residences now has its first construction crane in place. Villa is planned as an ultra-luxury, cooper-clad tower that will top off at 650 feet. It will have just 70 condo units. Residents will have access to a 3-story amenity space called The Copper Club. There will also be a rooftop helipad, and a waterfront restaurant. Groundbreaking took place in December.
Report: Glass Tower Planned Next To Historic Miami-Dade Courthouse
A developer is planning a mixed-use tower next to the historic Miami-Dade Courthouse, according to Commercial Observer. The 1928 courthouse building would be renovated and restored, with the space converted to be used for housing, office, retail and hospitality. A rendering shows the new tower next to the historic building would have a glassy façade.
Utilities Deal Completed For 800 Residential Units at Earlington Heights Metrorail Station
A developer completed a deal with Miami Dade’s Water & Sewer Department to service a large new residential complex planned at the Earlington Heights Metrorail station. The developer is Developer Earlington Metro, LLC. According to the agreement, a total of 856 new apartments will be built, along with 36,724 square feet of retail. The development has been…
560 Apartments Reach Completion Near Metrorail Station
The first phase of the Metro Center transit-oriented development in Hialeah has obtained a TCO, according to Modis Architects. Metro Parc is being built a short walk away from the Metrorail and Tri-Rail Transfer Station. The newly completed apartment building has 559 apartments. In February, developer Baron Property Group broke ground on Metro Parc North next door…
Data Center Developer Acquires 4.05 Acres Of Developable Land In Miami’s Airport West Submarket
Metrobloks plans to develop a 15.2 MW state-of-the-art data center facility at the site, which is strategically located at the intersection of NW 6th Street and 137th Avenue. The new AI-ready, multi-tenant facility is designed to meet high-density computing demands and is scheduled to commence operations by the end of 2026. “In Miami-Dade’s competitive industrial market, securing a prime…”
Metrobloks Buys Land in Miami, Plans to Develop New AI-Ready Data Center
Los Angeles-based Metrobloks has purchased four acres at 500 N.W. 137th Ave. in Miami’s Airport West submarket. The firm plans to develop a 15.2-megawatt data center at the site, which is situated at the intersection of Northwest 6th Street and 137th Avenue. Matthew Bittel and Stuart Gordon of Cushman & Wakefield represented Metrobloks in the land sale.
For some Brickell residents, a planned 80-story condo tower behind First Miami Presbyterian Church is far from a blessing. Since at least 2021, Arnaud Karsenti’s 13th Floor Investments and the Ardid family’s Key International have wanted to develop the project on a site immediately east of the church at 609 Brickell Avenue. The site now consists of a parking lot…
Masaveu expands West Brickell dev site by acquiring adjacent commercial building for $16M
Masaveu Real Estate US beefed up a West Brickell development site after purchasing an adjacent property for $15.5 million. An affiliate of Masaveu, the American arm of Spanish conglomerate Corporacion Masaveu, led by Chairman Fernando Masaveu Herrero, acquired a 0.3-acre parcel with a three-story commercial building at 268 Southwest Eighth Street in Miami…
57-Story Edge House Miami Breaks Ground at 1837 NE 4th Avenue in Edgewater
Grupo T&C has officially broken ground on Edge House Miami, a 57-story residential building located at 1837 NE 4th Avenue in the Edgewater neighborhood of Miami. Designed by Kobi Karp Architecture & Interior Design, with interiors by Adriana Hoyos Design Studio and landscape architecture by Witkin Hults + Partners, the tower will rise 637 feet and yield…
Report: Messi Buying Condos At 80-Story Brickell Tower
Lionel Messi is buying four condo units at the Cipriani Residences tower that is under construction in Brickell, according to the WSJ. One of the units is said to be valued at $7.5M. The value of the other three units is not known. The Cipriani tower is planned to reach a near-supertall height of 940 feet above ground, and 950 feet feet above sea level, which is taller than…
Demolition Progresses at One Bayfront Plaza Site in Downtown Miami
Demolition work continues at 100 South Biscayne Boulevard, the former site of the 19-story One Bayfront Plaza tower in Downtown Miami. The clearing of the steel-framed office building marks the first significant step toward developing a long-anticipated supertall skyscraper on the prominent waterfront parcel, a project led by Florida East Coast Realty (FECR). According to permits…
Exterior Work Nears Completion on 37-story District 225 in Downtown Miami
Exterior work is nearing completion at District 225, a 37-story residential tower at 225 North Miami Avenue in Downtown Miami. Designed by Sieger Suarez Architects, with interiors by Meshberg Group, and developed by Related Group in partnership with ROVR Development and BH Group, the 394-foot-tall tower is approaching the final construction phases ahead of its anticipated…
The first phase of a transformative $2 billion mixed-use development has been announced in Miami-Dade County. Midtown Park Residences by Proper will be the first of six buildings (four residential towers, two office buildings), occupying a five-acre site that was previously slated to host a Walmart. The 28-story branded tower will feature 288 condos…
Proper Hospitality Unveils Plans for Miami Condo Tower
Proper Hospitality, Rosso Development and Midtown Development are planning to develop Midtown Park Residences by Proper, a luxury condominium tower in downtown Miami. The project will rise 28 stories and will include 288 residences and penthouses. Completion is scheduled for 2028. The project is Proper Hospitality’s second residential development after Austin…
Cipriani Reaches Level 9, Using Self-Climbing ‘Slip Form’ System
Brickell’s under-construction Cipriani Residences Tower has reached its first residential level, and will be using a new self-climbing system moving forward. The milestone means that Cipriani is on schedule with construction, with contractors recently working on levels 7 and 8, the first amenity and residential floors. Beginning at level 9 until top off, contractor Moss Construction…
Commission To Vote On Funding For Edgewater Baywalk Extension
The baywalk in the Edgewater neighborhood currently only exists in small fragments, but a small extension could soon become a reality. Miami commissioners are scheduled to vote next week on possible funding for the extension, which is known as Edgewater – Phase 1 Project. The new baywalk would be built behind a 10-story building dating to 1980. The extension would…
Photos: Color-Changing Lighting System At New 62-Story Aria Reserve
Edgewater’s new 62-story Aria Reserve south tower turned on its new lighting system recently, altering the Miami skyline. The s-shaped lighting system changes colors, and extends to both the western and eastern facades of the building. Aria Reserve will include two 62-story, 649-foot towers, said to be the tallest waterfront dual residential towers in the United States.
32-Story Continuum Club & Residences Breaks Ground In North Bay Village
Developers have broken groundon Continuum Club & Residences, a 32-story residential tower at 1755 John F. Kennedy Causeway in North Bay Village. Developed by the Continuum Company in partnership with Aksoy Holdings, the 340-foot-tall building is set to deliver 198 condominium residences and penthouses with waterfront views of Biscayne Bay and the Atlantic Ocean.
Studio Three gym leases at Doronin, Cain’s 830 Brickell tower
Studio Three will open a gym at the 830 Brickell tower in Miami. The fitness studio leased 5,800 square feet at the 57-story office tower developed by Cain International and Vlad Doronin’s OKO Group, according to a news release from the landlords’ broker. Studio Three will open in the first quarter of next year in 800 square feet on the ground floor and 5,000 square feet…
Cryptocurrency exchange platform Gemini will open its first South Florida office in Miami’s Wynwood. The New York-based firm leased 8,800 square feet at the 545Wyn building at 545 Northwest 26th Street, according to a news release from the landlord’s broker. Gemini is expected to move in by May. Juan Ruiz and Andres del Corral of Blanca Commercial Real Estate…
700 condo buildings in South Florida on secret mortgage blacklist
The number of South Florida condo buildings on a Fannie Mae blacklist has more than doubled in the past two years, as the financial strain on condo associations worsens. Nearly 700 condo communities in Miami-Dade, Broward and Palm Beach counties are on the list, marking almost half of the 1,438 buildings that the federally chartered mortgage finance corporation lists…
Photo: Eataly Opening Soon At Aventura Mall
Aventura Mall’s new Eataly will be opening in spring 2025, according to signage in the mall. The new Eataly Aventura will include around 30,000 square feet, spread over two levels. It will include two restaurants, a grocery market, and an educational area. Eataly also recently announced plans to build a new location in West Palm Beach.
Construction Starts on ‘Wesley at Fillmore’ at 2236 Pierce Street in Hollywood
Florida YIMBY has an update regarding a multi-family housing development we shared more than two years ago. In 2022, county officials approved Wesley at Fillmore, a low-rise apartment complex in Hollywood. Construction has now officially begun, thanks to the acquisition of a $13.7 million loan from National Bank of Florida. Upon completion, the four-story endeavor…
Welltower buys assisted living complex in Davie for $34M
Welltower bought a 220-bed assisted and independent living complex in Davie for $34.3 million, marking continued investment in South Florida senior care facilities. Royal Senior Care and MG3 Group sold Oakmonte Village of Davie at 8201 Stirling Road to Welltower, a publicly traded real estate investment trust, according to records and real estate database Vizzda.
Midtown Miami developer Jon Samuel sells Sunrise retail plaza for $30M
Jon Samuel, one of the original developers of Midtown Miami, sold a retail plaza in Sunrise for $30 million. New York-based SK Realty Management, led by principals Sam Kirschenbaum and Benjamin Rubin, bought Sawgrass Landing, a fully-leased shopping center spanning 64,510 square feet at 13713, 13775, and 13999 West Sunrise Boulevard, Lena Zubkova…
Related, Pebb and BH plan Live Local project along Fort Lauderdale waterfront
Another Live Local Act project involving Related Group is in the works along Fort Lauderdale’s waterfront. Coconut Grove-based Related, led by Jorge, Jon Paul and Nicholas Pérez, is partnering with Aventura-based BH Group, led by Liat and Isaac Toledano, and Boca Raton-based Pebb Enterprises, led by Ian Weiner, on the planned redevelopment of The Quay at 17th Street…
The VDG Land Co. LLC has plans to construct a development that would offer workforce housing for the employees of the nearby Breakers Palm Beach resort. The venture would occupy a 2.46-acre lot, about half of which is still owned by the city. VDG Land Co. LLC owns the remaining 1.3 acres. The proposed build site is mostly vacant. Plans currently call for an eight-story…
Steve Ross commits $50M to Vanderbilt’s West Palm Beach campus
Steve Ross committed a $50 million donation to Vanderbilt University for its planned West Palm Beach graduate school campus, an expansion the billionaire developer has championed since its inception. Including his donation, the school has raised a total of $77 million toward its $300 million fundraising goal for the project, a spokesperson confirmed. Ross isn’t the only…
Vlad Doronin’s OKO and Cain propose three-building Palm Beach condo complex
OKO Group and Cain International are proposing a three-building condo complex in Palm Beach, the island’s first new condo proposal in nearly 20 years. The development would involve demolishing two existing condo buildings, the Ambassador Palm Beach Hotel & Residences at 2730 South Ocean Boulevard, and Edgewater at 2720 South Ocean Boulevard.
Receiver for firm accused of $40M fraud plans sale of South Florida resi, office properties
The receiver for an embattled West Palm Beach firm accused of a massive real estate and securities fraud plans to sell six of its residential properties and several office condos in South Florida. Married couple Janalie Bingham and Jean Joseph, as well as Wells Real Estate Investment, which Bingham led as CEO, allegedly siphoned off more than $40 million they raised…
Video: LeaseLock’s Greg Willett, Andrew Bowen Discuss Multifamily Performance & Transaction Volume
Multifamily Market Insights: Navigating 2025 with Optimism and Strategy On a recent episode of America’s Commercial Real Estate Show, the host welcomed Greg Willett, Chief Economist, and Andrew Bowen, SVP of Strategic Partnerships—both from LeaseLock—to unpack the state of the multifamily market. Their in-depth discussion illuminated the current challenges…
Survey Reveals How Contractors Are Bracing for What’s Next
It feels like déjà vu for real estate developers—reminiscent of 2020, or even the uncertainty of 2008. The typically stable world of commercial real estate has been completely upended, and we’re now grappling with a host of complex and impactful variables: Tariffs driving up hard costs; The possibility of a recession, potentially lowering interest rates…
Grant Cardone raises $88M for crypto and multifamily deals; plays coy about California governor run
Grant Cardone raised $88.1 million in recent months for a fund that bought $15 million in Bitcoin and paid $73 million for a Central Florida apartment project. At the same time, the crowdfunding multifamily syndicator has toyed with the notion of running for governor of California, where Cardone owns a beachfront home in Malibu damaged during the devastating…
Future-Proofing Buildings: The Impact of Amazon Key on Multifamily Living
Amazon has redefined convenience in shopping, but for residents in multifamily properties, receiving packages can be a challenge due to traditional methods of access. Amazon Key provides streamlined, verified access, transforming the landscape for property developers and managers by ensuring fast and convenient delivery to multifamily properties. We uncover the transformative…
Real GDP growth by state: Fourth quarter 2024
On March 28, 2025, the Bureau of Economic Analysis released real GDP data for all US states for the fourth quarter of 2024. The FRED map above shows the year-over-year growth rates: Red denotes contraction, light green denotes some growth, and dark green denotes faster growth. Highlights 48 of 50 state economies expanded in 2024, with a national average of 2.8% growth.