Miami Design District site sells for $29M
A building in the Miami Design District sold for $29.25 million, nearly 100 times its last sale price, The Real Deal has learned. The 19,436-square-foot building at 1 Northeast 40th Street sold to an affiliate of Brooklyn…
Two 60-story towers due on river
Dual 60-story residential towers with a waterfall are proposed for choice riverfront land in the shadow of Miami Avenue Bridge. During the city’s last building boom, three condo towers rose on a block on the north side of the Miami River in the Central Business District: The Ivy, Wind and Mint.
Retail roster weak as Miami Marlins set to open
The Miami Marlins’ home opener of the 2015 season is Monday, April 6, the start of the fourth season at the 37,000-seat Major League Baseball facility. Meanwhile, the bulk of the Marlins Park garage retail space remains empty.
Florida Apartment Complex Threatens Tenants With $10,000 Fine For Bad Reviews Online
They might be the landlords from hell, but you’re not allowed to complain about them. A Florida apartment complex is under fire after management forced new tenants to sign a “social media addendum” that threatened a fine of $10,000 if they gave the place a bad review online, Ars Technica reports. The addendum…
Crews Demolish 92-Year-Old Building At 2500 Biscayne To Make Way For Apartment Building
A 92-year-old building on Biscayne Boulevard has been partially demolished to make way for a rental building. The demolished building was built in two phases. A 1923 building known as the Wolpert Apartments had a historic designation removed in 2004 after the property owners appealed. A 1927…
In Florida, Big Sugar’s Republican proxies stare down the Angry Bees
At the Governing Board of the South Florida Water Management District today, Republican proxies of Big Sugar — that would be the board appointed by Gov. Rick Scott to fulfill his mission — will be facing the Angry Bees: citizens and activists demanding that the State of Florida buy out the propert…
Cap Rates Remain Flat in Q1 2014 – CBRE’s Retail Valuation Group
CBRE’s National Retail Cap Rate Report was recently released for the first quarter of 2014 and according to the report, average retail capitalization rates did not change significantly this quarter after dropping in the final quarter of 2013…
Broward Schools whistleblower alleges bid rigging
A political committee’s mailer asking voters to approve last November’s $800 million bond measure. Administrators at the Broward County School District “rigged” bidding procedures to ensure that Jacobs Project Management Company wou…
Flashbacks: 27 Old Postcards of Miami & Miami Beach
Whatever the architecture blogs think, Miami did not discover great architecture just in the last ten to twenty years. We may not have always had Rem Koolhaas (although Rem’s been connected to this town longer than you’d think), but we’ve always had beautiful environment…
Here’s Kevin Spacey: The plan to revamp the Coconut Grove Playhouse
Tri-Rail Update: Possible funding sources have advanced…
Possible funding sources have advanced for the Tri-Rail Coastal Link’s portion of the cost of construction of MiamiCentral, which is an essential aspect of expanding mass transit in South Florida. Those funding sources include the voter-approved half cent sales tax increase, which means more of it w…
Development update-o-rama: Two Slim Towers, with Sky Bridge, Coming to Miami River
A developer is proposing two 60-story residential towers with 406 residential units, 30,000 square feet of commercial space, 520 parking spaces, and 20 lodging units (which are?) on an empty Miami River-fronting site where a single tower had been previously planned. The as-yet-unnamed project…
Independent Living Facilities: How They Fit Into The Boom
I was reviewing the various names our industry has used to describe the senior living property sector when I noticed that one appears to be picking up steam: independent living facilities. The definition of independent living refers to more than facility type — it means…
Real Estate Crowdfunding Seen Topping $2.5 Billion in 2015
As more people become comfortable with the investing model, crowfunding for real estate is likely to jump to two and a half times the total in 2014…
Rising Traffic Concerns Could Provide Cash Flow Stability for Miami’s Transportation P3 Solution
With plans to reduce Biscayne Boulevard to fewer lanes to allow for the creation of a promenade and bicycle lanes in Downtown Miami, some are arguing that the need for public transportation options cannot be clearer. The drivers in Miami-Dade are in desperate need of public transportation options th…
Market underestimates value of retail by an “enormous number”: Steve Roth
From the New York website: The most undervalued part of Vornado Realty Trust’s portfolio is the firm’s urban retail, according to Vornado chairman and founder Steven Roth. “This is just one man’s opinion that the market underestimates the value of …
Rents behind AmericanAirlines Arena may rise
Miami-Dade County officials have tentatively approved higher fees for the use of about 4 acres of waterfront land behind AmericanAirlines Arena. Known as Parcel B, the area is owned by the county and generally used for the staging of events held at the arena, whether they be a concert or a circus…
Photos: On the scene at Paramount Miami Worldcenter’s BullFest Ride
Lamborghini drivers took a day-long ride together in South Florida and met up at Paramount Miami Worldcenter’s sales gallery. More than 30 Lamborghinis celebrated the development and BullFest, alo…
Glenn Rufrano named new CEO of American Realty Capital
From the New York site: Former Cushman & Wakefield executive Glenn Rufrano has been named the new chief executive officer of American Realty Capital Properties. Rufrano will start his job as CEO on April 1, according to an ARCP statement cited by…
Huge casinos wouldn’t nourish us, just supersize problems
”No man’s life, liberty, or property are safe while the legislature is in session,” the axiom goes – and a supersized 316-page House bill to supersize Florida gambling by adding mega-casinos proves the point. Florida has shaken off a punishing recession and Miami in particular is booming…
Flagler Station breaks ground on final phase
Construction has started on the last phase of Flagler Station, a massive business park next to Medley in Northwest Miami-Dade County. Hernandez Construction, an affiliate of Stiles Corp., recently began work on the first two buildings of phase three…
Construction marks progress at new Museum of Science
Open spaces and turnkey venues were among the highlights of a hard-hat tour of the new $300 million Patricia and Phillip Frost Museum of Science on Biscayne Boulevard in Miami. The four-acre site will…
Prologis sells Broward and Dade business parks for $77.8M
Prologis sold two business parks in Miami-Dade and Broward for a combined $77.8 million, county records show.
The industrial real estate corporation sold its Countyline Business Center in Miramar for $59.5 million to an affiliate…
Acclaimed Brooklyn Pizzeria Paulie Gee’s Coming To Miami
The icing on today’s delicious cake was the news that @JasonWeisberg has signed a lease on this spot that is soon to be Paulie Gee’s Miami.
Kevin Spacey may star in running Grove Playhouse
When Miami-Dade’s Economic Prosperity Committee meets today (3/12) to discuss a deal with GableStage for a home at the Coconut Grove Playhouse, anything can happen. The plan, recommended by Mayor Carlos Gimenez,