Mar 13, 2015 - 0 Comments - Top Stories -

3/13/15 Miami Commercial Real Estate News

IMG_2921Lots o’ slots: The Seminole Tribe of Florida…

The Seminole Tribe of Florida has announced they intend to add a 1,000 room guitar-shaped hotel to the Seminole Hard Rock Hotel & Casino in Hollywood if, and only if, their current compact with the state (in which they have exclusive rights to blackjack and other table games) is renewed. We have…

Awards: The Pritzker Prize, Architecture’s Oscars, Comes to Miami

Architect Frei Otto, known for his membranous, lightweight, tensile structures, was announced as the winner of the Pritzker Architecture Prize, the most prestigious award in architecture, a day after the architect’s death. Frei, who died on Monday, was…

Land Ho!: A large Biscayne Bay-fronting tract…

A large Biscayne Bay-fronting tract of land between the Jockey Club and the Cricket Club (both of which were swinging hotspots in their day, but are now just rather crusty condominiums) will hit the auction block with a starting bid of $19.9 million. The land stretches from the bay all the way to…

Zillow and Truila Finally Merge, Form Zillow Group

After a exhaustive seven-month anti-trust review by regulators, the Zillow-Truila merger was finalized on February 17.   Zillow negotiated a $2.5 billion stock/swap merger and formed the Zillow Group that now includes Zillow, Truila, StreetEasy and HotPads. …

NAI Miami Negotiates $6,600,000 Sale Of Operating CVS

NAI Miami’s Edward Schmidt, CCIM and Mandy Bertematti represented the buyer in the sale of the 14,129 square foot building in Lake Worth…

Building in downtown West Palm Beach sells for $10M

A mixed-use building on the trendy Clematis Street in downtown West Palm Beach recently sold for $10 million to a New York-based Investor.  Located at 222 through 230 Clematis Street, the building is home to Starbuck’s and Rocco’s Tacos, which is a M…

New co-working space in Little Haiti opening soon, geared to creative types

Imagine after a long day of work, walking down the hall to shoot some pool, grab a beer or take a painting class — all without stepping outside.  A new co-working space opening soon in Miami’s Little Haiti, called…

Developer pays $28M for three Miami Beach hotels

A Miami-based developer purchased three hotels in North Beach this week, Miami-Dade County records show.
Megapolis Corp. sold three 7,500-square foot lots on Ocean Terrace, all of which face the ocean, to an affiliate of Claro Development for a…

Foreclosure king David J. Stern hit with $2M lawsuit

Florida’s “foreclosure king” David J. Stern has been hit with another lawsuit, this time over $2 million in payments the disbarred attorney allegedly owes to a Miami-based process serving company.
The suit was filed by Gissen & Zawyer Process Service, which partn…

Treasury Department pushed to scrutinize foreign buyers

From the New York website: Seventeen nonprofits are urging the U.S. Treasury Department to require more scrutiny of foreign buyers of real estate by verifying their…

All Aboard Florida taps local builder for Fort Lauderdale event space

All Aboard Florida — the proposed Miami to Orlando railway service — said it has hired a construction company to relocate an event center in Fort Lauderdale.  D. Stephenson Construction, which is based in Fort Lauderdale…

Seminole Tribe announces plans for second Hollywood hotel

The Seminole Tribe of Florida announced plans for its second Hollywood hotel — and at the same time, it is lobbying to renew its existing gambling agreement with the state, which expires soon.  If renewed, the Seminoles will develop a 1,000-room, guitar-shaped…

South Florida by the numbers: Focus on Little Havana edition

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.  For more than 30 years, the Kiwanis Club of Little Havana has hosted the massive Calle Ocho street festival, one of Miami’s signature events. Originally…

NY developer pays $33M for Coconut Creek apartments

A New York-based developer closed on an apartment community in Broward.  Abacus Capital Group paid $33.2 million for Fisherman’s Landing, a 268-unit complex at 4854 Fishermans Drive in Coconut Creek.  Homebuilder Fairfield Residential was the seller…

Photos: On the scene at Park Grove’s retail roundtable

Park Grove, a collaboration between Related Group and Terra Group, hosted a roundtable discussion with Coconut Grove retailers that covered the area’s regrowth. Related’s Carlos Rosso and Terra…

Ian Schrager Casts Lifestyle Hotels Vision

Miami – “We’re an opportunistic business. There was an opportunity in Miami Beach and we seized the opportunity,” says Ian Schrager…

Miami Retail Booming, Some Investors Head North

“The cost of capital is very competitive and retail rents are on the rise in South Florida creating ideal conditions for trading activity.”…

Flashback Friday Photos: Miami Beach Street Scenes

Old photos from Miami Beach are featured.