David Martin’s $1.2B downtown Miami buy could rally the market
Martin and his Coconut Grove-based firm, Terra, lead SmartCity Miami, a group of undisclosed investors buying the 15.5-acre assemblage Genting Group officially listed for sale late last year. The bayfront property, in Miami’s Arts & Entertainment District, is expected to mark the priciest urban land sale in Florida and one of the most expensive in the country when it closes later this year…
Swire Properties Inc. and Related Companies have started the demolition process for the future site of One Brickell City Centre, soon to be the tallest commercial building in Florida. A special ceremony was held yesterday at 700 Brickell Avenue to mark the occasion, with Miami Mayor Francis Suarez, Swire Properties Inc. President Henry Bott, and Related Companies Chairman…
Brickell City Center record-setting office tower nearing
Demolition crews are hard at work in the heart of Miami’s business district at the site of what will be the most spacious and tallest commercial skyscraper in the southeastern United States. On May 4, excavation equipment smashed through the windows of the former Eastern National Bank at 799 Brickell Plaza while a crowd gathered to celebrate another step toward construction…
Demolition Crews Arrive At One Brickell City Centre Supertall Site
Demolition equipment and crews have arrived at the site where the One Brickell City Centre Supertall tower is planned, according to a tweet by Brian Bandell. A full demolition permit and a tree permit are both still in review, Building Department records show. A partial electrical demolition permit was recently approved, as was a permit to install temporary toilets typically used…
Brightline And SpaceX Team Up For Enhanced Rail Travel Experience In Florida
Brightline announced it is the first passenger rail service in the world to offer Starlink’s high-speed, low-latency broadband service. The implementation of Starlink on board its trains is part of Brightline’s digital transformation, which focuses on a guest-first experience to elevate each traveler’s unique journey. Brightline chose to partner with Starlink, which is engineered…
GID buys multifamily complex near North Miami for $56M
GID bought the Windsor Biscayne Shores multifamily complex near North Miami for $56 million. Advenir sold the 240-unit garden-style apartment community that spans 9.6 acres at 12010 Northeast 16th Avenue in the Biscayne Shores neighborhood of unincorporated Miami-Dade County, according to records and real estate database Vizzda. GID assumed the seller’s $38.7 million loan…
Pantzer drops $98M for apartment building in Miami
Pantzer Properties scooped up the Milagro apartment building in Miami for $97.5 million, marking the firm’s second multifamily purchase in the city in six months. New York-based Pantzer bought the six-story building at 2263 Southwest 37th Avenue from Wafra, according to records and real estate database Vizzda. Pantzer took out a $58.5 million loan from JLL Real Estate Capital.
THE WELL Bay Harbor Islands Planned for 1160 Kane Concourse on Bay Harbor Island
THE WELL Bay Harbor Islands is slated for a 2026 delivery in Miami-Dade County. The nine-story high-rise will comprise 54 condos, ranging from one-bedroom to four-bedroom layout plans. Per Miami Condo Investments, homes measure about 924 square feet to 3,637 square feet each. All residences are west-facing and start at $1.2 million. The homes’ goal is to create a place…
New Rendering Of MIA South Terminal Expansion, With 6 Domestic Gates
Miami-Dade has released a new rendering of the South Terminal expansion project. The South Terminal has been dominated by international airlines such as Latam, Lufthansa, Air France, and Turkish since it opened in 2007, but the expansion appears domestic focused. Spirit Airlines opened a check-in area on the ground floor of the terminal in 2021. According to documents…
Electra America, BH score approval for first phase of $1B Southland Mall redevelopment
Electra America and BH Group are launching the first phase of the joint venture’s proposed Southland Mall redevelopment with an eight-story apartment building. Town of Cutler Bay officials on Wednesday administratively approved the site plan for the project, which will entail 470 rental units, 14,000 square feet of retail and a parking garage, Town Manager Rafael Casals confirmed.
Phased Permit Now Pending At 42-Story Miami Station Tower
A phased construction permit now appears to be pending for the 42-story Miami Station tower. Building Department records show an application for a Phased Class I Full Vertical permit was created on April 26. Coastal Construction is listed as the contractor. The main construction permit for the tower was first created in December 2021, and also lists Coastal as the contractor.
Ken Griffin Dines With Jeff Bezos In Miami
Billionaire Ken Griffin was seen in photos talking with Amazon’s billionaire founder Jeff Bezos at an event in Miami Beach this weekend. The two were attending Carbone Beach, which took place in South Beach during Formula 1 weekend, according to the Observer. Griffin recently moved his company and his home to Miami, and is planning to build a supertall office tower in Brickell.
Brookfield drops $16M for Doral warehouse
Brookfield Properties bought a Doral warehouse used as the headquarters for a flower distributor and importer for $16 million. Brookfield purchased the facility at 1500 Northwest 95th Avenue from an affiliate of The USA Bouquet Company, according to records and the seller’s website. The 115,000-square-foot facility was constructed in 1988 on 6.5 acres, property records show.
New York investor QRST Properties picks up warehouse in Miami’s Liberty City for $12M
A New York investor picked up a vacant Miami warehouse for $11.5 million. QRST Properties, managed by Morty Yashar in Brooklyn, acquired the 72,477-square-foot industrial building at 3400 Northwest 67th Street, according to the buyer’s broker, Raul Pino with Wynwood-based The Hype Real Estate Group. The property is in Miami’s Liberty City neighborhood…
New Downtown Miami Courthouse Tower Tops Off
Miami-Dade’s new civil courthouse appears to have topped off. The courthouse tower was expected to rise 25 stories, or 474 feet above ground. A private developer is building the courthouse in exchange for payment from the county. HOK is the architect. This post has a number of photos including some showing the property under construction and also renderings…
Developers plan multifamily mixed-use project in Opa-locka
A pair of development firms are partnering on a 45-unit mixed-use apartment project in Opa-locka, The Real Deal has learned. HBJ Development, led by Harry Joseph, and Q Realty Development, led by Ari Hertz, plan a six-story building that will include 1,700 square feet of retail on the northwest corner of Ali Baba Avenue and Sesame Street, Joseph told The Real Deal.
Game-changing grant bringing Tri-Rail one-third new locomotives, cars
Fueled by a new federal grant, Tri-Rail is on track to replace nearly a third of its engines and passenger cars with brand-new equipment. “I don’t use the word gamechanger often, but this is a gamechanger,” said David Dech, the veteran railroad executive who last year became executive director of Tri-Rail’s parent, the South Florida Regional Transportation Authority. The federal government…
Jeffrey Soffer-Stephen Ross joint airport hotel contract on runway
A county committee this week is to dig into a contract to build and run a new Miami International Airport four-star hotel with two national giants of the real estate business who are well known in Miami, the owners of the Miami Dolphins and the Fontainebleau Miami Beach. Reversing a firm stance she took in December, Mayor Daniella Levine Cava is now bringing the proposal to…
Residential project proposed due south of Miami International Airport
A developer has plans for a new residential project south of Miami International Airport, in the Flagami area of Miami. The Richman Group and its affiliates have proposed Parkview, a nine-story building offering 120 dwelling units, rooftop pool and amenity deck, and parking for about 194 vehicles, at 5645 Southwest Eighth St. The city’s Urban Development Review Board recommended,,,
University of Miami plans major developments
Several new developments on the University of Miami’s Coral Gables campus are to open this year and in the upcoming years, all aimed at transforming education, research, and innovation as the university is approaching its centennial anniversary. The Centennial Village at UM, which is to be the campus housing complex hallmark of the Coral Gables campus, began its second phase…
99-year Miami Riverbridge hotel lease faces city vote
Lease negotiations for the Hyatt hotel in downtown Miami are expected to be final this week, clearing the way for construction of new high-end accommodations and a reimagined riverfront. Today (5/11), the Miami City Commission is to vote on whether to amend the ground lease for the existing Hyatt Regency Hotel at 400 SE Second Ave., allowing for the proposed Miami Riverbridge…
Miami-Dade Industrial Developers: What Softening Market?
To say that the industrial market in Miami-Dade County is going gangbusters is almost an understatement. Even though the industrial sector in many parts of the country is one of the healthier components of the CRE ecosystem, some fear signs of softening. Developers in Miami-Dade, however, appear to have no such concerns. “A live poll taken during the Colliers South Florida Industrial…
The Related Group Partners With Airbnb on Project at 225 N. Miami Avenue
The Related Group of Florida has partnered with Airbnb on a 37-story venture in Miami-Dade County. District 225 will comprise 347 short-term rentals, ranging from studios to two-bedroom accommodations. Per Miami Residential, residences come with built-in smart home technology, washers and dryers, and Italian cabinetry. Floorplans range from 458 square feet to 884 square feet…
Billionaires Propose Arquitectonica-Designed Hotel At MIA’s North Terminal
A proposal has been submitted to build a luxury hotel at Miami International Airport’s North Terminal. FDR Miami Hotel, LLC submitted the proposal to the county, and is recommended as the winning bid over two other proposals. The LLC is a joint venture between Jeff Soffer’s Fontainebleau Development, LLC and Stephen Ross’ Related Companies. The hotel would be designed…
Elon Musk Recommends Miami As A Place To Live
Elon Musk is recommending Miami as a place to move to. The billionaire made his recommendation in a tweet yesterday to a Texas resident who was looking to relocate. Musk was seen in Miami over the weekend, attending the Formula One race. Billionaire Amazon founder Jeff Bezos was also in attendance. It was at least the second time in the past few weeks that Musk…
Flagler Oasis Finishes First Phase, Miami Officials to Consider Second and Third Phases
The first phase of Flagler Oasis, a 100-unit eight-story apartment complex, has finished construction in Miami-Dade County. Prior to constructing Flagler Oasis’s first phase, some already-existing structures required demolition. Now, developers hope to get approval for the community’s second and third phases, which would feature 248 homes, 70,400 square feet of office space…
Five New Tenants Join Shops at Merrick Park in Metro Miami
Five new tenants will join Shops at Merrick Park, an open-air retail center located in Coral Gables, roughly five miles outside downtown Miami. Home furnishing store Arhaus, Coco Cigars and Miami Royal Ballet Dance School will open on the property’s first level. Beverage shop Boisson and women’s, children’s, home and sleepwear retailer Splendid will also join the property on the second…
Tibor and Sheila Hollo celebrated the coveted 35,500 square foot park that so many urban Miamians have grown to love and enjoy with their families. Dignitaries from the City of Miami and Miami-Dade County officially honored Tibor and Sheila Hollo as another example of the vast amount of time and… The post Ceremony Honored Family Who Made “Tibor and Sheila Hollo Park…”
12-Story Mixed-Use Development Submitted For Review At 2100 N. Miami Avenue In Wynwood
Plans have been filed for 2100 North Miami Avenue, a proposed 12-story mixed-use development in Miami’s Wynwood neighborhood. Designed by Arquitectonica with landscape architecture by Urban Robot Associates and developed by Houston-based Bazbaz Development under the Wynwood Owner, LLC, the project encompasses approximately 503,000 square feet…
The Shore Club Residences Planned for 1901 Collins Avenue in Miami Beach
The Shore Club Private Collection is a luxury, high-end venture slated for Miami Beach, Florida. The multi-million-dollar venture will comprise 49 homes, measuring 1,900 square feet to 10,000 square feet each, according to Miami Luxury Homes. They will range from two-bedroom to six-bedroom homes, starting at $6 million. Condos come with waterfront views, floor-to-ceiling…
The Calta Group Acquires Site At 915 Palermo Avenue In Coral Gables For Residential Redevelopment
The Calta Group, a real estate powerhouse led by brothers Ignazio and Gaetano Caltagirone and Igor Blatnik, recently announced the acquisition of a Coral Gables multifamily development for an impressive $12 million. The 32-unit rental property at 915 Palermo Avenue enjoys a prime location near the iconic Venetian Pool and the historic Biltmore Hotel—two of Coral Gables…
2100 North Miami Avenue: Developer Proposes 339-Unit Residential Project In Wynwood
Plans for another major residential project have just been filed in Wynwood. The project name is listed on architectural plans as 2100 North Miami Avenue. It is proposed to include: 339 residential units (totaling 272,087 square feet) 25,653 square feet of retail 18,713 square feet of amenities 407 on-site parking spaces over 7 levels The gross building size is proposed at 513,390…
Related, Merrimac score $94M construction loan for Miami Worldcenter project
Related Group and Merrimac Ventures landed $94 million in construction financing for a planned 33-story condominium at Miami Worldcenter. Arkansas-based Bank OZK provided the loan for The Crosby, which will have 450 units, according to records. The joint venture acquired the development site at 601 North Miami Avenue in Miami in 2021 for $12 million.
Tri-Rail Train Service To Downtown Miami Expected To Begin In November
Tri-Rail train service to downtown Miami is expected to begin in November 2023, according to Miami Today. The estimate was made this week by David Dech, the Executive Director of the South Florida Regional Transportation Authority, which operates the train service. Ticket machines and signage for Tri-Rail are now being installed at MiamiCentral. In April, Dech told Miami-Dade’s…
Billionaire Tech Investor: Miami’s High Housing Prices Make It Tough To Relocate
Billionaire tech investor Peter Thiel says high housing prices in Miami are making it tough to relocate his companies here. Thiel made his comments on the Honestly with Bari Weiss podcast (at the 19:30 mark). The podcast was recorded at Thiel’s home in Miami, Weiss said. “I’ve though some about moving our offices from California to Florida,” Thiel said. “It’s a tough thing to do at…”
St. Regis Sunny Isles Converts To Contract, Will Have Photovoltaic Glass
The St. Regis Residences, Sunny Isles Beach is now converting reservations into contracts, developers announced in a press release last month. The twin-tower development has taken in nearly $750 million in reservations in less than six months, the release said. There will be two 62-story towers, with each rising 750 feet, making them the tallest in Sunny Isles. A total of 336 residential…
FAA Approves 44-Story West Eleventh Residences At 482 Feet
The Federal Aviation Administration has approved the height proposed for West Eleventh Residences in Park West. The 44-story tower is approved to rise 482 feet above ground, or 493 feet above sea level, the FAA approval letter states. The application was submitted on March 6, and approved on May 9. West Eleventh Residences is planned to include 639 residential condo units…
Restaurateurs plan condos, hotel, eateries on Fort Lauderdale beachfront
Fort Lauderdale restaurateurs Aiton “AJ” Yaari and Lior Avidor want to develop a mixed-use project on a 5-acre oceanfront site in Fort Lauderdale. Yaari and Avidor plan a condominium, hotel, retail and restaurants on their assemblage spanning nearly two full blocks from Poinsettia Street south to East Las Olas Boulevard, and from A1A east to the beach, Yaari told The Real Deal.
ROI Capital lands $52M for Fort Lauderdale Asset
The Village at Eastpointe Apartments. Image courtesy of Yardi Matrix ROI Capital has secured $51.5 million in debt and equity recapitalization for The Village at Eastpointe Apartments, a 296-unit multifamily community in Fort Lauderdale, Fla. The debt represents a $42.5 million five-year Freddie Mac loan with a fixed rate and two years of interest-only payments. RCG Longview…
Integra Investments Files Plans For The Mile Hotel West In Fort Lauderdale’s Galt Mile Neighborhood
Integra Investments has filed plans for The Mile Hotel West, a new development for a multi-site hotel project in Fort Lauderdale’s Galt Mile neighborhood. Located at 3115 Northeast 32nd Avenue, the West Tower will replace the current Bokamper’s Sports Bar and Restaurant. Designed by Nichols Architects, with landscape architecture and civil engineering by Craven Thompson…
Denver-based real estate firm Aimco is making significant strides in Fort Lauderdale by submitting a site plan amendment application for 901 North, a proposed three-towered mixed-use development at 901 North Federal Highway in the trendy Flagler Village neighborhood. The developer aims to modify the initial approvals for the 5.64-acre property in accordance with the City…
Cordish, Caesars Reveal Plans for 223-Acre Mixed-Use Project in Pompano Beach, Florida
The Cordish Cos. and Caesars Entertainment Inc. (NASDAQ: CZR) are co-developing The Pomp, a 223-acre mixed-use development in Pompano Beach. The property’s name pays homage to the former Pompano Park racetrack on the project site, which is located 35 miles north of Miami and 10 miles north of Fort Lauderdale. Upon completion, The Pomp will feature 1.3 million square feet…
Cordish, Caesars Unveil Details of $2B Pompano Beach Mixed-Use
Rendering of Live! at The Pomp. All images courtesy of The Cordish Cos.Sports & SocialPBR Cowboy Bar The Cordish Cos., in partnership with Caesars Entertainment, has unveiled details of The Pomp, a $2 billion mixed-use development currently under construction in Pompano Beach, Fla. The Cordish Cos. first announced the 223-acre project back in 2018, and the ground breaking…
Ritz-Carlton Palm Beach Gardens developer scores $340M construction loan
The developer of the Ritz-Carlton Residences, Palm Beach Gardens, scored $340 million in construction financing for the project, marking the largest such loan to close this year statewide. Dan Catalfumo’s Catalfumo Companies secured the financing from New York-based Madison Realty Capital, according to a press release. Construction on the condominium development could begin…
Video: Industrial Investment & Development Today
Neal Moskowitz, Senior Vice President and Principal at Atlanta based real estate developer Stonemont Financial Group joins Americas Commercial Real Estate Show to to discuss industrial property demand, rents, capitalization rates (cap rates), construction costs, financing, and opportunities. The first video discusses the state of industrial investment and development today, while the second,,,
The Fed: Where Might Inflation Head?
In my previous post, I outlined why the current episode of high inflation has been persistent and widespread. In this post, I examine the impact of fiscal and monetary policies during this episode and provide a plausible outlook for the near future. Monetary Policy. At the onset of the pandemic, the Federal Reserve adopted an accommodative policy stance to support the…
Florida Bans Chinese Nationals, Companies From Buying Certain Real Estate
Florida Gov. Ron DeSantis signed legislation banning Chinese nationals, and those from six other countries, from owning certain types of real estate in the state. At a bill signing ceremony on Monday, DeSantis described the legislation as a “crackdown on Communist China.” When it goes into effect on July 1, the bill will prohibit citizens from China, Russia, Iran, North Korea, Cuba…