Mar 11, 2015 - 0 Comments - Top Stories -

Miami Area CRE News for March 11, 2015

Z081700 Biscayne, With Approvals For A Three-Tower Project, Is Up For Sale

A prime Biscayne Boulevard development site has been listed for sale.  1700 Biscayne, a 3.04-acre property across from Genting’s Omni, is being marketed by brokers. The asking price is undisclosed.  Fort Lauderdale-based Midgard Group, managed by James Goldstein, began assembling the land…

Developers announce oceanfront condo tower in Pompano Beach

A team of international developers revealed plans for a 72-unit condo tower along the ocean in Pompano Beach.
Fernbrook Florida plans to build the 19-story Sabbia Beach at 730 N. Ocean…

Abu Dhabi-Based Investment Firm Says Miami ‘Most Attractive,’ Looking At Development Opportunity

Abu Dhabi Financial Group, a multi-billion dollar developer and investment firm, is studying a potential residential development project in Miami.  Jassim Alseddiqi, the CEO of the firm, told Bloomberg that he was looking at projects in London, Miami, Los Angeles and New York, but Miami…

Luther Campbell Questions Miami Gardens’ Future

When Miami Gardens incorporated in 2003, it seemed like a great idea. City leaders envisioned a bustling metropolis where African-American professionals could find a home to settle down. That’s how it was in the ’70s and ’80s, when North Dade was known as Carol City — before violence and poverty increased…

Soffer Buys 50% Stake In Biscayne Landing, Plans ‘New Skyline’ With 4,000 Units

Turnberry Associates has purchased a 50% stake in the Biscayne Landing project from Richard LeFrak.  LeFrak sold to Turnberry after buying out Michael Swerdlow and Ezra Katz, who were investors in the project. Terms were not disclosed.  The 183-acre site is located at 15045 Biscayne Boulevar…

Construction Underway At MiamiCentral, Set To Include 800 Residential Units

Construction is now underway at All Aboard Florida’s MiamiCentral, and the company has released more information about the project to the Herald.  The first towers will open in 2017 and include 800 rental apartments in two towers. A 39-story tower will include 450 units, and a 33-story tow…

Largest Mall In America Will Also Include Residential And Hotel Units

American Dream Miami, the mega-mall proposed west of Miami Lakes, will also include a residential and hotel component.  Developer Triple Five, which built the Mall of America in Minnesota, released renderings and plans which show at least two luxury hotel buildings, along with condominiums…

Moishe Mana Spends Another $7.8 Million On Downtown Property

Moishe Mana continues to accumulate land in the Flagler Street area.  Mana Sets Sights South of Flagler Street.  Israeli Businessman Makes $7,800,000 Purchase.  Israeli businessman Moishe Mana has turned his vision south of Downtown Miami’s Flagler Street…

Ridiculous Amenity Alert : Estates at Acqualina Will Have a FlowRider, Ice Rink, Etc.

As the Acqualina Resort gets closer to the completion of its first big expansion, the tall and slim Mansions at Acqualina tower directly to the south, here comes the second: the Estates at Acqualina, on the property’s north side. Here, two ‘mansions’-sized towers of 50 floors each will contain…

Capture the flag: Billionaire Still Wants to ‘Give Back’ to MIA with Huge Flagpole

Mike Fernandez is back, people, with his plans to erect a massive American Flag in Museum Park out of gratitude for all this country and city have done for him, even though the city didn’t seem to show much gratitude back when he first proposed the idea. The ‘Flag of Gratitude’ would be on a 425…

You Got Schooled: Buy an Abandoned Key West School, for $12.5 Million

Key West’s Jeptha Vinning Harris School was “built as one of the first schools in Florida” in 1905. It was dedicated in 1909, and served as Key West’s elementary school until the last class graduated in 1986 (it also served as a high school until 1915, when another school was built). Then it was …

Sleeping Around: The James Hotel brand has…

The James Hotel brand has officially exited from the James Royal Palm Hotel after only about two and a half years of existence, which means Curbed Miami, which is almost three years old, has officially stuck around longer in Miami than it has. Remember how the James was kind of a big deal when it …

Development update-o-rama: 24 Condo Buildings Proposed for Bay Harbor’s East Island

Developers have proposed the 24th new condominium building for Bay Harbor Islands in this boom, a building called the Bay Harbor Gardens on the 1100 block of 93rd Street. Being built on three vacant lots that total half an acre, the eight story…

on the market: Homestead’s Paradise Farms (and B&B) is For Sale

Paradise Farms, once an abandoned avocado grove that has since been turned into South Florida’s premier organic farm, with its small bed & breakfast and celebrated charity dinner series, is for sale. The listing: unlisted. The price: well, it was $2.4 million, but since only being formally on…

The Game Changers in Transforming Miami

On February 25, 2015, Suzanne Amaducci-Adams moderated the first event in the Greater Miami Chamber of Commerce’s three-part series, Transforming Miami: The Game Chan…

Developer Gets $40M Financing For Mayfair In The Grove

New York-based Natixis Real Estate Capital delivered both proceeds and structure that will allow West Palm Beach-based Whalou Properties an ability to achieve their long term investment goals for its mixed-use development…

Photos: On the scene at Three Hundred Collins launch party

New York-based JMH Development recently launched sales for Three Hundred Collins, which is designed by Thomas Juul-Hansen.  JMH founder Jason Halpern, along with architect Thomas Juul-Hansen, hosted…

Florida leads the U.S. — again — with number of foreclosures…and more

Florida leads the U.S. in number of completed foreclosures.  Nationwide, foreclosures were down on a year-over-year basis — with the number of completed foreclosures in Florida down by nearly 3 percent in January of this year, according to a CoreLogic report…

Hines and partner to break ground on 550-unit apartment complex in Doral

International real estate firm Hines and its partner Diversified Real Estate Capital are set to break ground on a $134 million apartment development in Doral.  The project is a joint venture between the two firms, marking their second apartment development in South Florida…

Panelists announced for TRD’s Broward County Real Estate Forum & Showcase

We’re thrilled to announce some of the panelists for The Real Deal South Florida’s Broward County Forum & Showcase, which will take place April 23 at the Design Center of the Americas in Dania Beach.
Panelists for the first of two panels, What’s next for development i…

ADD Inc. tapped for Shore Club renovation

Architecture and design firm ADD Inc., now with Stantec, is the architect for the Shore Club’s renovation, which will include a five-star hotel brand and luxury condos, the firm announced recently.  HFZ Capital Group paid $175.3 million…

24th new condo building proposed for Bay Harbor Islands

Developers have announced a 24th new condo building for the town of Bay Harbor Islands — a community of nearly 5,900 residents — located in the barrier island area of Northeast Miami-Dade County.  The new project — dubbed the…

Q&A with Dan Lebensohn, co-developer of Privé at Island Estates

Developers of Privé at Island Estates in Aventura have been locked in a battle with homeowners who oppose the development and the installation of sidewalks, and the resulting delay by the city in issuing building permits. After months of litigation, the developers last week…

Are Linear Parks The Answer for Miami?

Miami is known for its enviable quality of life, but some forward-thinkers are working to enhance that quality with a strong focus on maximizing the value of public spaces….

Lennar Makes Land Grab in Hot South Florida Market

Homebuilders are scrambling to meet the rising demand even as land becomes more difficult to find in South Florida. Look what Lennar Homes found….

10-Year Relationship Lets Greenberg Attorney Close on Setai

An unshaven Ralph Bekkevold left his family and the damaged Greenberg Traurig offices after Hurricane Wilma to close a deal for a client that ended up being Nakash Holdings. Since then, Bekkevold says the Nakashes have treated him like family…

NextEra/ FPL: World’s most ethical company? That has to be a joke?

I grabbed the following off NextEra’s website:NextEra Energy recognized as a World’s Most Ethical Company® for eighth timeJUNO BEACH, Fla., March 9, 2015 /PRNewswire/ — NextEra Energy, Inc. (NYSE: NEE) has been named a 2015 World’s Most Ethical Company® by the Ethisphere Institute, an indep…

Here is another example of government failing to do its job and breaking its promises to you, because of the overbearing weight of businesses and their profit at the Port of Miami

The difference — and break with the recent past? That there is one county commissioner willing to call out Mayor Carlos Gimenez for failing to stand up for the laws of the land protecting the irreplaceable treasures of Miami-Dade County. That would be Daniella Levine Cava, District 8 County Commiss…

Old Pics: 1937 newspaper ads for Miami Beach nightclubs and restaurants

From the Miami Daily News, Jan. 9, 1937: Mother Kelly’s; Riptide Club.

Commissioner Dennis Moss and Mayor Carlos Gimenez Request Amendment 1 Money From State to Purchase Rock Pineland. 

Letter from the Mayor and Commissioner Moss asking for money to purchase endangered Rock Pineland Parcel of land: I am told the developer Ram is not willing to sell. Is that a ploy for more…

Greater Downtown Miami faces 11-year supply of new condo units

The Miami Downtown Development Authority — a public taxing agency responsible for promoting economic investment in the area — should be applauded for knowingly releasing at this time of year a new 44-page study with a bearish outlook about the future of the local condo market…