NP International pays $60M for Gables Station development site
Berkowitz Development Group has sold the Gables Station development site to NP International for $60.25 million. Developer Jeff Berkowitz previously planned to build a big-box retail building on the site 251 South Dixie Highway. Records show Gables Station LLC, an entity…
Assemblage near Beckham’s soccer stadium sells for $6M
A group of properties near the site of David Beckham’s planned MLS stadium in Overtown traded hands for $6 million, or $88 per square foot. Miami-Dade County property records show Tayyab Zaidi sold two apartment buildings and vacant land at 1150 Northwest Eight Street Road and 1000 Spring Garden Road. The buyer is 1000 Spring Garden LLC, an entity controlled by a local attorney and tied to broker…
Improper renovations halted at Stanton Marriot historic South Beach hotel
A historic South Beach hotel is being renovated without proper permits, angering neighbors and prompting the city to stop the work Wednesday morning. The Starbucks on the first floor of the Stanton Marriott at 161 Ocean Drive is closed and obscured by a wooden fence, where a city planning manager confirmed this week that the interior is being demolished beyond what is allowed by a building permit.
How Miami’s real estate market is coping with Treasury’s shell company crackdown: panel
For those in Miami’s real estate market waiting for the Treasury Department to stop tracking shell companies that buy luxury homes, don’t hold your breath. A panel of industry experts, gathered Wednesday morning at the downtown Miami Hilton hotel…
Seller of $26M Venetian Islands manse sues over broken sale
The seller of a new, multimillion-dollar mansion on Di Lido Island in Miami Beach is suing the buyer over the 10 percent deposit for the now broken $26 million sale. Dilido 212 LLC, an entity controlled by Ahmad Lee Khamsi, filed a lawsuit in Miami-Dade County…
Miami Industrial Real Estate Market Report Third Quarter 2016
In this 3rd quarter of 2016, Miami’s industrial real estate market experienced another increase of average lease rates to $9.41 per sq. ft. and a decrease in the average vacancy rate to 3.9%. Nearly one million square feet of warehouse space was absorbed mostly by larger, national companies. …
Which Miami Neighborhood Will Be The Next Neighborhood To Be ‘Art-Washed’?
A recent gathering of 350 nonprofit arts groups, organizers and artists from across the country met at the Little Haiti Cultural Center to wrestle with, among other things, the issue of gentrification.