WeDevelop: Here are Adam Neumann’s plans at Miami Worldcenter
Flow, the apartment startup founded by billionaire Adam Neumann and backed by venture capital firm Andreessen Horowitz, has three projects in various stages of development at Miami Worldcenter. The buildings are valued at about $450 million, according to a source. Neumann’s purchases at Miami Worldcenter date back to at least 2021, but additional details about his projects…
Adam Neumann’s Flow Expands Miami Holdings Despite Brand’s Delayed Launch
Adam Neumann’s startup Flow is investing heavily in projects at Miami Worldcenter as it expands its South Florida holdings. The real estate firm started by WeWork’s co-founder is building a 41-story second phase of the Caoba apartments, a 44-story tower it purchased in 2021. Flow also has plans for office and retail space across the street, according to a municipal bond offering…
Fisher Brothers And Suffolk Construction Top Off ‘Wynhouse Miami’ At 2200 NW 1st Avenue In Wynwood
Fisher Brothers has topped off construction on Wynhouse Miami, an 8-story mixed-use development located at 2200 Northwest 1st Avenue in the heart of Miami’s Wynwood neighborhood. This construction milestone, achieved by national contractor Suffolk Construction, brings the project closer to opening its doors in Q1 2025. Designed by Nichols Architects…
Falcone proposes 53-story condo-hotel at Miami Worldcenter
Falcone Group wants to build a 53-story condo-hotel at Miami Worldcenter, marking the latest planned addition to the 27-acre mixed-use complex. The Boca Raton-based firm, led by Art Falcone, proposes a tower with 280 hotel keys, 351 condos, 3,500 square feet of retail and an 8,000-square-foot restaurant on a 0.7-acre site at 155 Northeast 10th Street in Miami, according to a proposal…
Appeals court ruling upending an Edgewater condo termination could put buyouts statewide in limbo
An appeals court ruling this week upending a condo termination in Miami is causing shockwaves among developers, as it will likely put buyouts in legal limbo. The court’s opinion regarding Biscayne 21 in Miami’s Edgewater marks a major win for the condo owners who fought to block the termination of their association. Furthermore, it has huge implications for developers…
‘We Call It Herding Cats’: Sellers Are Slowing The Expected Wave Of Condo Buyouts
Unit owners at the Four Winds condos in Surfside were busy evaluating bids from contractors for repairs to secure the building’s 50-year occupancy recertification in early 2023 when two developers appeared with unsolicited offers to buy the property. Naftali Group sent a letter last January saying it would pay $115M for the 12-story, 144-unit building, a price it said was a 56% premium…
Design Refinements Submitted For 800-Room Grand Hyatt Miami Beach
Developers planning the Grand Hyatt Convention Center hotel in Miami Beach have submitted design refinements to a city board for review. The Miami Beach Design Review Board had requested the changes at a previous meeting, and also requested that the updated designs be submitted for review once they had been made. The developer is additionally requesting the board,,,
Transit-Oriented Luxury Condo Planned Next To Wynwood’s Upcoming Train station
Developer Rilea Group has announced plans to build The Rider at Wynwood, a transit-oriented development. The luxury condominium will have a rock-n-roll theme, and will be built next to Wynwood’s upcoming train station along the Brightline tracks. “The upcoming Brightline station, situated just 85 yards from The Rider at Wynwood site, symbolizes the exciting future ahead…
Miller Construction Completes Medley Industrial Project
Miller Construction Company, a statewide, privately-held construction firm, has delivered the 143,571-square-foot industrial project for Woods Grove Capital in Medley. The Class A warehouse in Medley, Florida, is situated at 7290 NW 77th Court near major highways with easy access to Miami International Airport and Port of Miami, the region’s busiest import-export centers.
PMG Announces 34-Story ‘One Twenty Brickell Residences’ At 120 SW 8th Street In Brickell District
Property Markets Group (PMG) has announced One Twenty Brickell Residences, a 34-story residential tower set to rise in the heart of Brickell, designed by internationally renowned architecture firm Sieger Suarez Architects, with interiors by Cotofana Designs. Located at 120 Southwest 8th Street, One Twenty Brickell Residences will consist of 240 fully finished and furnished residences…
‘301-341 Madeira’ Planned for 301 to 335 Madeira Avenue in Coral Gables
Urban 301 Madeira LLC, an Aventura-based firm, recently secured a $59 million loan for a residential project. Dubbed “301-341 Madeira” by Coral Gables city records, the complex would measure nine stories above grade and offer 145 apartments. The Commercial Observer reports that of those 145 apartments, nine would be ground-floor, live/work units. The 100-foot-tall building,,,
900-Foot Cranes Submitted To FAA For Baccarat Construction Site on Brickell
Plans for two new construction cranes have been submitted to the Federal Aviation Administration for the Baccarat Residences site in Brickell. The filing was made on March 15. One of the cranes is planned to reach a top height of 887 feet above ground and 889 feet above sea level, the filing states. The second crane is planned to reach a top height of 906 feet above ground and 908…
Signage & Crane Installed At 67-Story Mercedes-Benz Tower Construction Site
Signage and a crane have been installed at the Brickell site where a 67-story Mercedes-Benz branded tower is under construction. Construction on the tower has actually been underway for some time, but the Mercedes-Benz branding and technical silver color scheme was only unveiled last month. A total of 791 Mercedes-Benz residences are planned. In addition to the residences…
PMG Announces 34-Story One Twenty Brickell Residences
Developer PMG has announced plans for a 34-story tower called One Twenty Brickell Residences near Brickell City Centre. The project will include 240 condos, delivered fully finished and furnished. Over 60,000 square feet of residential amenities are planned, including a Wellness & Fitness center, pickleball court, kid’s club and gym, sky bar and lounge, and a cafe and juice bar.
Subsidies push stalls for long-awaited American Dream Mall
A legislative bid to potentially offer Miami-Dade County subsidies to get a long-stalled, multi-billion mega-project, the American Dream Mall, under way in Northwest Miami-Dade was swiftly sidetracked by a county committee last week. The legislation aims to remove the county’s self-imposed prohibition on subsidies for design or construction of the project, whose movement has…
Coral Gables Office Park Trades For $76M, A 25% Discount From Last Sale
A Coral Gables office park traded for a nearly 25% discount despite the market’s recent rise as a popular destination for businesses looking for space outside Miami’s urban core. Colonnade Properties paid $76M for the five-building Douglas Entrance office park in the northeast corner of Coral Gables, deed records compiled by property intelligence platform Vizzda confirm.The 475K SF…
Miami-Dade wins vast former Job Corps property near Homestead
Miami-Dade County is in the process of acquiring a former 42-acre Job Corps site near Homestead after winning a federal bid for the land. As Miami Today reported in September, after the US declared it surplus, the county expressed interest in the land to use for an emergency management response center or a park. “There was a surplus process run by the federal government…
Miami hits federal funding jackpot for Underdeck with $60M transportation grant
After the city commission passed a resolution in January urging local, state and federal entities to make funding available to support the Underdeck, Miami has been awarded a $60 million transportation grant for the project. The March 14 commission meeting started with Chairwoman Christine King and Mayor Francis Suarez announcing the massive influx of federal funding for…
Despite opposition, Miami-Dade greenlights an agritourism district in rural Redland
After two failed efforts, Miami-Dade commissioners created a new tourism district that expands amusement operations in the county’s rural Redland farming area despite opposition from residents and agriculture officials. The proposal, passed 10-2 without taking public comment on Tuesday, will allow more buildings and parking — which residents fear will dramatically change…
Michael Lewis: Everybody wants to live in Florida – anywhere but Miami
If we believe our own publicity, Miami-Dade is booming as people from across the nation rush to live here and our population soars. Fortunately or unfortunately, depending on your views, it just ain’t so. The fact is, the county’s population is nearly 15,000 people smaller – yes, smaller – than it was just after the start of the pandemic four years ago. That’s what US census numbers…
Onyx Housing Group Closes On Land For 159-Unit Multifamily ‘Regatta Point’ In Homestead
Today Onyx Housing Group, a multifaceted real estate development firm based in South Florida, announced the closing of six land parcels at 16300 Southwest 296th Street in Homestead, Florida. The 150,201 square foot, 3.45 acre-lot was asking $4.95 million and will be the future home of Regatta Point, a $46.5 million-dollar multi-family project. Current Real Estate Advisors…
Mixed-Use ‘Giller Tower’ Proposed for 976 W. 41st Street on Miami Beach
The Miami Beach Planning Board is scheduled to hear a proposal for a mixed-use project on March 26. Giller Tower would measure seven stories above grade, measuring more than 102,000 square feet. The South Florida Business Journal reports that of that square footage, 25,869 would be office space, 6,681 would be retail, and 4,056 would be restaurants. Sources indicate that…
308-Unit Wynhouse Holds Top-Off Ceremony
Wynhouse Miami has topped off at 8 stories. A ceremony to mark topping off was held on Friday. The project is being built with a $117.5 million construction loan provided by JP Morgan Chase and affiliates of Canyon Partners. Wynhouse is planned to include: 308 rental residences approximately 26,000 square feet of ground floor retail nearly 25,000 square feet of indoor and…
Census: Miami Ranked #1 For International Population Growth In 2023
Miami-Dade’s net international population growth surged in 2023, and was the highest of any county in the U.S., according to new Census data. The number of new Miami-Dade residents coming from outside the U.S. rise almost 40% last year, to 54,457. No other county added as many new international residents. When counting total population growth, including from domestic sources…
Oak Row Equities has closed on a $181M construction loan from Bank OZK for 2600 Biscayne Boulevard, a 41-story Class AAA office and multifamily tower in Miami’s rapidly-maturing Edgewater submarket. This transaction is one of the largest mixed-used construction loans to close in South Florida in the past year. Newmark’s Dustin Stolly, Jordan Roeschlaub, Chris Kramer…
Construction Progresses On CMC Group’s ‘Vita at Grove Isle’ Condominium In Coconut Grove
Miami’s CMC Group, under the leadership of Ugo Colombo, has reached a significant milestone, advancing past the halfway mark in the construction of Vita at Grove Isle. This seven-story boutique luxury condominium is emerging on Grove Isle, a secluded 20-acre island just off the coast of Miami’s Coconut Grove neighborhood. Located at 5 Grove Isle Drive, the development features…
Developer Proposes 396-Foot-Tall ‘3200 Biscayne’ in Miami
Miami-based Green Circle Development LLC, an affiliate of Urbanica Hotels, has proposed a 35-story mixed-use high-rise in Miami’s Edgewater neighborhood. 3200 Biscayne would comprise 677,813 square feet of new construction, offering both hotels and residences. Arquitectonica designed the 396-foot-tall structure. The South Florida Business Journal reports that plans call…
Privee Capital scores $59M construction loan for 144-unit apartment project in Coral Gables
Privee Capital scored a $59 million construction loan for a 144-unit apartment project in Coral Gables. The Miami Beach-based development firm plans a nine-story building on a 1.4-acre site at 301-341 Madeira Avenue, said Privee’s managing partner Jonatan Sredni. City National Bank of Florida is the lender for the floating-rate debt, according to records and Sredni.
Nichols Architects Reveals Design For 53-Story Mixed-Use Tower In Miami Worldcenter’s Block C, East
The Falcone Group, led by Founder and CEO Art Falcone and in collaboration with Nichols Architects, has unveiled the design for a new 53-story mixed-use tower at Block C, East of Miami Worldcenter. This development is poised to significantly impact the luxury living and hospitality sectors of the expansive Miami Worldcenter complex, encompassing ten blocks and 27 acres.
Ares Management Real Estate has provided a $50 million loan via one of its funds for the refinancing of Soleste Spring Gardens, a newly delivered apartment community in Miami’s Spring Garden district. The eight-story community is located at 1033 Spring Garden Road, two blocks from the Culmer Metrorail station. Brian Gaswirth, Chris Drew, Jesse Wright and J.J. Hovenden…
Rok family’s mortgage firm seeks to foreclose on Aventura dev site
A Miami developer’s plan to build a seven-story medical office building in Aventura appears to be in jeopardy. Aventura-based Rok Lending last week filed a foreclosure lawsuit in Miami-Dade Circuit Court against the Gomez Development Group entity that owns the 1.6-acre development site at 21291 Northeast 28th Avenue, court records show. Rok Lending, the mortgage…
‘Landmark’ 53-Story Mixed-Use tower Planned At Miami Worldcenter
Miami Worldcenter is slated for yet another tower, according to newly revealed plans. Falcone Group led by founder & CEO Art Falcone is collaborating with Nichols Architects on the new tower. Previously, the One Worldcenter office tower had been proposed on the site by Hines. The new tower at Worldcenter’s Block C East is planned to rise 53 stories, or 632 feet above sea level…
Revealed: 35-Story Hotel & Residential Tower Planned At 3200 Biscayne
Plans have been filed to build a hotel and residential tower in Edgewater. 3200 Biscayne is planned to rise 396 feet and include: 110 residential units; 160 lodging units; 8,443 square feet of commercial area (ground floor restaurant, bar/coffee space, and retail); 6,531 square foot ballroom and 6,567 pre-function space on level 2; 383 parking spaces on five levels – above the 293 parking…
Codina loses appeal in Doral condominium construction dispute
Codina Partners’ legal bill from fighting Grycon keeps rising, now hitting $12 million after losing an appeal. Coral Gables-based Codina, led by Chairman Armando Codina and CEO Ana-Marie Codina Barlick, had contested a lower court’s $7.8 million verdict in favor of Fort Lauderdale-based Grycon. The Third District Court of Appeals last week affirmed Miami-Dade Circuit Court…
Downtown Miami’s $83M The Underdeck Gets Federal Funding
Miami has been awarded a grant from the U.S. Department of Transportation to build The Underdeck underneath the new Signature Bridge. The federal grant is for $60M – the largest in the City of Miami’s history, according to Mayor Francis Suarez. It was awarded under the DOT’s Neighborhood Access and Equity program initiative, which aims to correct mistakes made…
Mandarin Oriental Residences: New Renderings Released As Preview Lounge Opens
Swire Properties has released new renderings and details of the Mandarin Oriental Residences planned in Brickell and opened a Preview Lounge. Two towers are planned. The South Tower will rise over 800 feet, while the North Tower will stand at approximately 400 feet. A total of 228 two-to-four-bedroom in the taller South Tower. Mandarin Oriental will have its flagship North…
Swire Properties Unveils First Preview Of ‘The Residences at Mandarin Oriental, Miami’
Swire Properties today unveiled the first official preview of The Residences at Mandarin Oriental, Miami, ahead of the official launch of sales scheduled for later this spring. The Residences, an exquisite collection of private homes, is part of an unparalleled residential and hospitality destination set within a secluded island sanctuary, only moments away from Miami’s vibrant urban core.
Ram Realty Services and Pinnacle Communities have filed a pre-application for Aventana, a 16-story residential tower in Miami’s Ojus district. The 354,238-square-foot building would offer 344 apartments––about 34 will be set aside as workforce housing. At least 17 would be designated for those making up to 110 percent of the area median income (AMI). Plans call for a dog…
David and Leila Centner abandon fight for city of Miami park
Fed up with being tied to Miami’s dysfunctional government corruption, David and Leila Centner backed out of their no-bid deal to build a $10 million recreation center at a city-owned park. During public comments at Thursday’s Miami City Commission, David Centner said he and his wife are backing out of a license agreement to develop a youth sports complex with a dome in Biscayne…
Lease roundup: Santander Bank took 4K sf at Miami Worldcenter; more…
Santander Bank leased at Miami Worldcenter. The bank, which is the U.S. subsidiary of Madrid-based Banco Santander, took 4,000 square feet at the Jewel Box at 150 Northeast Eighth Street in Miami, according to a record filed to Miami-Dade County last month. The lease, which is for a 10-year term with two five-year extension options, started on Jan. 31, the record shows…
Condo buildings at sprawling northeast Miami-Dade Jade Winds complex deemed unsafe
Miami-Dade County declared several buildings at a condo complex in Northeast Miami-Dade unsafe, after they failed their 50-year recertification. Residents at buildings in the Jade Winds condominium complex received the notices earlier this week, NBC 6 reported. Jade Winds, at 1720 Northeast 191st Street, was built between the late 1960s and early 1970s. Residents were…
Can a $150 million makeover revive this Miami mall? Shopping is just a part of it
Shopping malls are changing in South Florida. They’re no longer just corridors with store after store. They’re becoming town squares, with fitness centers, residential towers, arcades and amusement centers — alongside the traditional retail. A Northeast Miami-Dade mall, with roots over six decades, is the latest to join the trend in moving from shopping center to lifestyle center.
FundRebel pays $62M for new apartment building in Hollywood
FundRebel completed its first commercial real estate acquisition, purchasing a new apartment building in Hollywood for $62 million. The New York-based crowdfunding real estate start-up bought Nine Hollywood at 809 Jackson Street and 320 South Federal Highway, records show. The 12-story apartment building with 204 units and 7,000 square feet of ground-floor retail…
Ari Pearl advances downsized condo plan for Hollywood golf course
Developer Ari Pearl advanced a downsized plan to redesign and redevelop a Hollywood golf course with 322 condos. Pearl’s company, PPG Development, originally planned to develop 486 rental units, a mix of apartments, townhouses, and villas, along the The Club at Emerald Hills golf course. But rapid home price appreciation in South Florida during the pandemic led Pearl…
Affiliated lands $46M construction loan for 223-unit apartment project in Hollywood
Affiliated Development landed a $45.5 million construction loan for a 223-unit apartment project with a workforce housing component in downtown Hollywood. The Fort Lauderdale-based firm started construction of the 18-story building, called The Tropic, with one-bedroom to three-bedroom apartments at 303 South Federal Highway, according to records and an Affiliated news release.
PMG plans first luxury condo tower in Fort Lauderdale
PMG is moving forward with its first condo tower in Fort Lauderdale that will replace an aging waterfront co-op building on the Intracoastal Waterway. The New York and Miami-based firm is launching Sage Intracoastal Residences, a planned 18-story, 44-unit building at 900 Intracoastal Drive. The luxury project would replace a circa-1957 co-op named…
West Palm Beach Office Project Lands 40K SF HQ Relocation
A boutique office building in Downtown West Palm Beach is now more than 50% pre-leased after a telecommunications firm announced it would relocate its headquarters to the under-construction property. Dycom Industries will relocate from Palm Beach Gardens to 40K SF on the top two floors of 300 Banyan, a 12-story building with 115K SF of offices that is expected to deliver…
Fanjul family scores $56M construction loan for 320-unit rental complex in Royal Palm Beach
The Fanjul family, sugarcane and real estate moguls in Florida, scored a $55.7 million construction loan for a 320-unit apartment complex in Royal Palm Beach. FCI Residential, the Fanjuls’ development company, started building the project with 11 three-story buildings and two two-story townhouse buildings on the 25-acre site on the southeast corner of Acme Road…
Analyst: Eventually Nearshoring Will Impact All Commercial Real Estate
Nearshoring is a significant evolutionary trend driven by geopolitical forces, manufacturing costs, shipping costs, evolving shipping route risks, and logistics trends. For the first time since 2002, the total annual imports from Mexico exceeded the total from China, reiterating the trend toward bringing manufacturing closer to the US. While this trend could significantly affect industrial…
The Fed: Has US-China decoupling energized American manufacturing?
In recent decades, the US has grown increasingly dependent on imports from China to access a vast variety of goods. The FRED graph above shows Chinese import data: From 1990 through 2016, as China became a globally integrated economy, the US import share from China grew steadily, from close to 2% of aggregate US imports in the late 1980s to close to 22% in 2016.
The Conversation: Insights from Jim Costello Regarding Navigating the Real Estate Landscape In the ever-evolving landscape of commercial real estate, understanding the nuances of various property types and market trends is essential for investors, developers, and industry professionals alike. Recently, on America’s Commercial Real Estate Show, show host Michael sat…
Self-Storage Development Hits Pause After Record Year for Spending
Construction spending in the self-storage sector topped $6.9 billion in 2023 as developers moved through a development pipeline that expanded after the COVID-19 pandemic. According to U.S. Census Bureau statistics, last year’s spending marked a 24% increase over 2022, with $5.6 billion spent building or expanding self-storage facilities. The sector spent an average of $4.4 billion…