Marquis Residences, Downtown Miami's newest and most elevated address.
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Ian and Ingrid have a combined real estate experience of 20 years and are experts in their field. Both have lived in Miami since 1990 are very familiar with all neighborhoods in the city. Whether you are looking for a waterfront home on one of our many islands, a beach-front condo, an art deco studio, or investment property, we pride ourselves in connecting you with your own piece of paradise.

We love what we do and it shows in our longevity and consistent results. We are honest, trustworthy, and reliable. We are expert negotiators and versed in all aspects of the real estate deal. How can we help you?
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The Real Deal Miami


Miami Beach to host town hall on Beckham stadium, Miami-Dade slot revenue less than expected … and more
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PortMiami and David Beckham
Miami Beach to host town hall on Beckham stadium. Miami-Dade slot revenue less than expected. First mixed-income tower under construction near Brickell. Read those stories and more after the jump.
Greater Downtown Miami condo rents surge
Greater Downtown Miami enjoyed a surge in rental rates over the last five years, but the market is starting to level off. Increased employment is helping downtown condo owners fill up their units with renters. CBRE senior vice president Gerard Yetming told Miami Today condo rents are up 32 percent from 2009 levels. He cited the Multiple Listing Service and Miami Downtown Development Authority as sources for the rental data. “The demand will continue to […] [more]
Palm Beach County apartments sell for $18.1M
The Village Club Apartments in Palm Springs changed hands for $18.1 million, The Real Deal has learned. A company tied to Tampa multifamily investor Avesta Communities acquired the 314-unit apartment complex at 555 Kirk Road on April 10, according to Palm Beach County records. The county recorded the purchase on Tuesday. Avesta added the complex to a $45 million revolving credit facility from a group of lenders managed by KeyBank. Riverfront Capital III sold the […] [more]
Downtown’s growth key to drawing auto race to Miami
A new auto racing series wants to hold one of its annual events in downtown Miami, where last month’s injury and arrest-filled Ultra Music Festival has city politicians fuming, The Real Deal has learned. Downtown’s recent growth, fueled largely by residential development, is a pivotal reason for London-based motorsports company Formula E Holdings’ interest in the area. But large-scale events that close off downtown streets are a sore subject in the city at the moment. […] [more]
Thor, Edelstein make Design District buys
Thor Equities continued building its portfolio in Miami’s Design District with a $9.6 million acquisition, while developer David Edelstein picked up two properties in the district for $10.6 million, The Real Deal has learned. Both transactions closed within the past week. New York-based Thor completed the $9.6 million purchase of the NEST building at 120 Northeast 39th Street on April 9, according to Miami-Dade County records. NEST is a European furnishings retailer run by Sara […] [more]
Judge signs Miami-Dade sewer system deal
A federal judge in Miami signed a legal agreement forcing Miami-Dade County to make $1.6 billion in sewer system repairs over the next 15 years. U.S. District Judge Federico Moreno made the consent decree between the county, U.S. Environmental Protection Agency and Florida Department of Environmental Protection official last week, the Miami Herald reported. The deal was in the works for more than two years, following federal and state complaints over the county’s alleged violations […] [more]
Ray Lewis takes loss on Highland Beach sale
Retired football star Ray Lewis sold his oceanfront Highland Beach estate for nearly $4.8 million. The former Miami Hurricanes and Baltimore Ravens linebacker took a $400,000 loss on the April 7 sale of the 3573 South Ocean Boulevard home, according to Palm Beach County records. Lewis paid more than $5.2 million for the 6,788-square-foot residence in March 2004. The county recorded the sale on Tuesday. Lewis, who retired after the Ravens won the Super Bowl […] [more]
Top stories
Top stories yesterday on The Real Deal: 1. Jeffrey Soffer’s Turnberry plans Sunny Isles project 2. Lehman subsidiary sells Miami Beach land 3. Tommy Hilfiger completes Raleigh Hotel purchase [more]
Miami housing costs soar past affordability threshold
Miami rents have climbed high enough to consume 43 percent of the typical household income, according to a new analysis by real estate website Zillow. That’s up from a historical average of just over 25 percent of household income for the area, the New York Times reported. The high cost of rent and utilities is putting the squeeze on middle-class city-dwellers, according to the article — especially considering the industry rule-of-thumb that says spending more […] [more]
Short sales plummet in Palm Beach County
Once a life boat for struggling homeowners in a sinking housing market, short sales are now on the decline, according to a new report. An analysis conducted by CoreLogic showed that Palm Beach County had only 83 short sales in February, down 52 percent over the same period in 2013, indicating such transactions may become much more unusual. The report chalks up the drop to rising home equity — an estimated 26 percent of county […] [more]
Dania Beach implements “Ocean Park” plan
Dania Beach is hoping to position its waterfront as “Ocean Park” to entice South Floridians looking for a quieter alternative to the bustling beach areas dominated by condo towers throughout the region. EDSA Inc. was recently hired by Dania to oversee a $28 million plan to create a more “natural” beach environment in the city, the Sun-Sentinel reported. Dania’s 120-slip marina is in the midst of a $7.5 million revamp slated for completion in June. […] [more]
Alex Rodriguez sells Miami Beach condo
Alex Rodriguez netted a profit of nearly $500,000 on the sale of his Miami Beach condo. The embattled New York Yankees slugger sold the Mei unit for about $2.6 million after paying $2.1 million for the 5875 Collins Avenue condo a year ago, the Wall Street Journal reported. He originally listed the 11th-floor unit with an asking price of $3.2 million in December 2013. A-Rod’s sister, One Sotheby’s International Realty broker Arlene Susy Dunand, handled […] [more]
Meet the buyer of 30 Star Island, Shorecrest Club construction progresses … and more
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30 Star Island Drive (via The Jills, Coldwell Banker Real Estate)
Meet the buyer of 30 Star Island. Shorecrest Club construction progresses. Venetian Causeway bus service halted after hole incident. Read those stories and more after the jump.
Former owner buys most of Mayfair Hotel
The Schlesinger family acquired most of Coconut Grove’s Mayfair Hotel and Spa only two years after losing it through foreclosure. Mayfair CLTG Holdings, which is managed by Robert and Adam Schlesinger of West Palm Beach and Dallas-based TriGate Capital, paid $27.6 million for 132 units and the common areas in the 300 Florida Avenue condo-hotel, South Florida Business Journal reported. The seller, an affiliate of Resource Real Estate Funding, seized the units and common areas […] [more]
Royal Caribbean forms alliance to fight Beckham stadium
Royal Caribbean Cruises formed a coalition to fight David Beckham’s proposed Major League Soccer stadium at PortMiami. The cruise line and numerous allies created the Miami Seaport Alliance to campaign against a 25,000-seat stadium on the southwest corner of the port, the Miami Herald reported. Miami Seaport bought a full-page ad in Monday’s Herald titled “Here We Go Again.” A second cruise company is part of the alliance, but leader John Fox declined to disclose […] [more]
Soffer tower is 25th proposed in Northeast Miami-Dade
A 25th new condo tower was proposed for the Aventura and Sunny Isles Beach market in Northeast Miami-Dade County, increasing the total number of planned units for this market to more than 3,525 during the latest cycle. The latest developer to get into the mix in Sunny Isles is Jeffrey Soffer, who announced plans on Monday to build a 52-story tower with 154 units on a 2.3-acre site, according to the Miami Herald. Soffer’s company, […] [more]
Lehman subsidiary sells Miami Beach land
A Lehman Brothers subsidiary sold the former Golden Sands development site in Miami Beach to a joint venture that plans to develop a boutique residential tower on the property. SMG/Shamrock and W Capital Group teamed up to acquire the vacant one-acre parcel adjacent to the Canyon Ranch Hotel & Spa, according to a written announcement released Tuesday by CBRE Hotels, which arranged the sale. The venture intends to build a luxury 20-story tower with only […] [more]
Anthony Lomangino sells another PB Gardens home
Recycling mogul Anthony Lomangino completed his second sale of a Palm Beach Gardens residence in less than two months, The Real Deal has learned. Lomangino and his wife Lynda sold a 6,044-square-foot home at 11743 Belladonna Court for about $2.3 million, according to Palm Beach County records. The sale closed on April 1 and was recorded by the county on Thursday. The couple paid $2.4 million for the four-bedroom residence in November 2006, around the […] [more]
SoFla active listings rise for the week
Active listings for housing inventory in the South Florida region rose last week to 41,855, according to weekly data from Condo Vultures. For the seven-day period ending Monday, pending sales increased from 22,023 to 22,183 week-over-week. Over the past four weeks, pending sales have slightly dipped. South Florida — including Broward, Miami-Dade and Palm Beach counties — saw 41,747 active listings during the week ending April 7. — Eric Kalis [more]
Top stories
Top stories yesterday on The Real Deal: 1. Jeffrey Soffer’s Turnberry plans Sunny Isles project 2. Waterfront downtown Miami property up for sale 3. “Million Dollar Listing Miami” cast unveiled [more]
Palm Beach County firm creates shippable homes
A Palm Beach County company is hoping its shippable manufactured homes gain traction with developing countries – and even high-end homebuyers in isolated areas. Mesocore of Riviera Beach designed 1,000-square-foot homes that can be shipped in 20-foot long containers, the Palm Beach Post reported. Company CEO Joe Esposito, an architect, says the concept is similar to the mail order Sears homes that used to be transported by rail and constructed on site. The homes are […] [more]
Related in no rush to demolish 444 Brickell
The demolition of the 444 Brickell office building to make way for the Related Group’s One Brickell development is a long way from happening, if it happens at all. Related is offering leases for up to seven years at the 11-story office building, which is home to Capital Grille, exMiami reported. The company paid $104 million for the 444 Brickell Avenue site in December 2013. It plans to build 1,200 residential units, a five-star hotel […] [more]
Developer Frank Sciame expands to Palm Beach
Prominent New York developer Frank Sciame launched a Palm Beach-based homebuilding venture. The family-owned Sciame Homes is affiliated with the Northeast construction and development firms bearing the Sciame name for nearly 40 years, Palm Beach Daily News reported. Some of the family’s most notable projects include the luxury Mark Hotel on the Upper East Side and the exterior restoration of the Guggenheim Museum. Sciame’s Palm Beach projects are smaller in scale thus far. The company […] [more]
Christ Fellowship opens at Boynton Beach Mall
The Boynton Beach Mall has an unconventional new anchor tenant: Christ Fellowship. The church, which is the nation’s 15th largest in terms of membership size, opened its new location at the mall on Sunday, the Sun-Sentinel reported. Christ Fellowship takes over an anchor space previously occupied by department store Dillard’s. It already has South Florida locations in Palm Beach Gardens, Royal Palm Beach and West Palm Beach. Church officials hope the Boynton location boosts membership […] [more]
Related Group project brings “critical element” to Fort Lauderdale, a look at South Florida’s auto industry … and more
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New River Yacht Club construction
Related Group project brings “critical element” to Fort Lauderdale. A look at South Florida’s auto industry. Unusual coffee shop thrives in Fort Lauderdale. Read those stories and more after the jump.
Tommy Hilfiger completes Raleigh Hotel purchase
Fashion icon Tommy Hilfiger officially purchased the Raleigh Hotel in Miami Beach for an undisclosed price. Hilfiger closed on the acquisition of the 105-room hotel at 1775 Collins Avenue on Friday, the Miami Herald reported, citing an announcement from real estate firm HFF. The seller, a partnership between W South Beach developer David Edelstein and sbe founder, chairman and CEO Sam Nazarian, paid $55 million for the property in December 2012. Miami-Dade County has not […] [more]
Palm Beach property taxes highest in state
Palm Beach County homeowners have the most expensive property tax bills in Florida, but they still enjoy a deep discount from what many New Yorkers pay. With an average 2012 property tax bill of $4,949, Palm Beach County topped Seattle-based Zillow’s statewide rankings released last week, the Palm Beach Post reported. The county ranked 81st on the national list, however. Miami-Dade County came in fifth for Florida counties, with a $4,672 average tax bill. Four […] [more]
Pinecrest takes on McMansions
Council members in Pinecrest are considering rule changes that could limit future construction of McMansions in the village. The council wants to get input from contractors and Pinecrest residents before approving any new rules, according to the Miami Herald. Several contractors argued against the proposed changes during a meeting held last week. While the average size of homes built in recent months in Pinecrest is 8,500 square feet, numerous residences constructed over the last few […] [more]
Development blueprint created in West Palm Beach
The new head of West Palm Beach’s Community Redevelopment Agency plans to pitch commissioners on a development blueprint for portions of the city with unrealized potential. Jon Ward is slated to present the proposal to the commission when it meets Tuesday as the CRA board, the Palm Beach Post reported. Ward’s plan would require substantial zoning changes in certain neighborhoods on the north side of West Palm. The proposal includes filling the area around the […] [more]
Fort Lauderdale offices headed to auction block
Two Fort Lauderdale office properties are set to be auctioned off following a nearly $23 million foreclosure judgment. A commercial mortgage-backed securities lender was awarded the judgment against an affiliate of Boston-based Cabot Investment Properties, South Florida Business Journal reported. The judgment related to a $19.7 million mortgage secured by the properties. Cabot paid a combined $25.5 million for the buildings in 2005. The foreclosure auction of the 110,010-square-foot complex at 5300 Northwest 33rd Avenue […] [more]
Jeffrey Soffer’s Turnberry plans Sunny Isles project
The Jeffrey Soffer-led Turnberry Associates revealed its plan to develop a 52-story condo tower in Sunny Isles Beach, one of the busiest South Florida markets for luxury residential construction. Turnberry Ocean Club would be the company’s 13th residential development, according to the Miami Herald, which spoke to both Jeffrey Soffer and his sister Jackie about the state of the company after the economic downturn and Fontainebleau Las Vegas bankruptcy. Carlos Zapata designed the 150-unit unit […] [more]
Top stories
Top stories over the weekend on The Real Deal: 1. “Million Dollar Listing Miami” cast unveiled 2. Waterfront downtown Miami property up for sale 3. Hotel developer acquires Bay Harbor property [more]
Planning board halts Minto West project in Palm Beach
An advisory board reportedly halted plans for Minto West, Minto Communities’ megadevelopment in West Palm Beach. The Planning Commission voted unanimously to reject a recommendation from county officials to press on with a review of the 6,500-home project, according to the Palm Beach Post. The development is slated to cover 3,800 acres on the old Callery-Judge Grove site in the largely single-family Acreage neighborhood. The project, if approved after public hearings by the commission and […] [more]
Clinton Portis avoids foreclosure, sells condo
Former Redskins and Broncos running back Clinton Portis dodged foreclosure by selling his distressed Miami pad for $900,000 — enough to cover the loan and then some. Portis’ condominium in Bristol Tower at 2127 Brickell Avenue, which he reportedly nabbed for $665,000 in 2004, recently sold to 2127 Brickell Property, a company managed by Paulo Diaz. The property was slated for foreclosure by JPMorgan and Chase, according to a lawsuit against Portis and his mother […] [more]
KFC franchisee adds 14 PB County locations
A longtime KFC franchisee acquired 14 Palm Beach County locations occupied by the fast food chain for $9 million. JAHA Chicken now owns all KFC’s in eastern Palm Beach County, according to South Florida Business Journal. Led by Juan Gavilan and his son Juan Carlos, JAHA’s KFC acquisitions date back to the 1980s. Of the 14 recent purchases, six included the underlying real estate. Pompano Beach-based Stonegate Bank gave JAHA $8.3 million in financing through […] [more]
Lawsuits filed over Perez Art Museum beam collapse
Downtown’s Perez Art Museum Miami is a co-defendant in a lawsuit that accuses two of its contractors of failing to prevent several concrete beams from collapsing during the museum’s construction. Arup USA filed the suit in Miami-Dade Circuit Court earlier this week, the Miami Herald reported. The engineering firm names the museum and contractors Moriarty & Associates and Gate Precast Co. in the complaint. It seeks nearly $7 million allegedly owed to Arup from the […] [more]
Miami Ad School to move from Beach to Wynwood, Porsche Design Tower foundation poured … and more
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Porsche Design Tower robotic lift rendering
Miami Ad School to move from Beach to Wynwood. Porsche Design Tower’s foundation poured in Sunny Isles. Florida environmental agency’s West Palm lease deal hits snag. Read those stories and more after the jump.
All Aboard Florida talks to county about downtown land
All Aboard Florida is in talks with Miami-Dade County officials about picking up an additional 2.7 acres in downtown Miami for its proposed version of New York’s Grand Central Station. The property is home to a day care facility, parking lot and small park. All Aboard Florida would use the land to construct a parking structure for the downtown station, exMiami reported. It already owns about nine acres in the area. A deal with the […] [more]
Testa family wants to raze Palm Beach buildings
The Testa family of Palm Beach wants to raze their historic restaurant and Via Testa retail building on Royal Poinciana Way. An application to demolish the buildings was filed with the town on Tuesday, Palm Beach Daily News reported. The Testas’ ownership company, T3 Family Investments, made the request. The town’s Architectural Commission is expected to consider the application during its May 28 meeting. Palm Beach planning, zoning and building director John Page said the […] [more]
Mast Capital on hunt for South Florida property
Mast Capital’s $29.5 million purchase of a Coconut Grove office building earlier this week could be a precursor to a flurry of acquisitions by the Miami Beach-based company. Camilo Miguel, Mast’s CEO, told Daily Business Review the private equity fund is on the hunt for numerous South Florida properties. Mast partnered with Miami-based 13th Floor Investments and Greenwich, Conn.-based Wexford Capital for Monday’s acquisition of the 2699 South Bayshore Drive property. Miguel said he is […] [more]
Developer plans Hilton hotels near Dolphin Mall
A two-tower hotel project with a pair of Hilton brands is proposed for a Sweetwater site located across from the Dolphin Mall. Procacci Development Corp. wants to develop a hotel complex that includes a 100-room Homewood Suites and 132-room Hilton Gardens at the southeast corner of Northwest 17th Street and 111th Avenue, the Miami Herald reported. The buildings would be 11 stories tall. Construction of the hotel buildings is slated to begin in September. Procacci […] [more]
Tishman Speyer sells Brickell Key office complex
An Orlando investor announced its acquisition of the Courvoisier Centre office complex in Miami’s Brickell Key. Parkway Properties released a statement on Wednesday revealing it paid about $146 million, or $422 per square foot, for the two-building complex at 501 Brickell Key Drive. New York-based Tishman Speyer sold the Class A buildings to Parkway. The transaction has not been recorded by Miami-Dade County. The transaction was first reported locally by South Florida Business Journal. JLL […] [more]
Crescent, Related Group to hold off on condo tower
Crescent Heights and the Related Group’s proposal to develop the tallest building in Miami Beach is on hold. Russell Galbut, Crescent’s managing principal, told the Miami Herald the partnership is reconsidering plans for a 50-story condo tower next to the Alton Road flyover at the end of the MacArthur Causeway. Galbut cited the city’s desire to create a master plan for Alton Road as a primary reason for the decision. “Due to the possibility of […] [more]
Top stories
Top stories yesterday on The Real Deal: 1. Waterfront downtown Miami property up for sale 2. “Million Dollar Listing Miami” cast unveiled 3. Hotel developer acquires Bay Harbor property [more]
Blanca CRE taps new marketing chief
Tere Blanca’s Miami-based firm, Blanca Commercial Real Estate, hired Diana Pubchara for its first chief marketing officer position. Pubchara comes to Blanca having worked for more than a decade in commercial real estate, Globe St. reported. She was also once the CMO of the Greater Miami Chamber of Commerce, according to the article. The Miami native will manage all marketing and communications for the company. The expansion marks the growth of the market in Miami, […] [more]
Homeowners’ groups stave off regulation again
A proposal to give the state the power to oversee homeowners’ associations died after failing to gain legislative support. The bill, sponsored by Senator Alan Hays, would have placed HOAs under the same kind of regulatory regimen that condominium boards are subject to, the Palm Beach Post reported. Under that setup, the state would be able to review complaints from residents, assign fines and recount board members, if necessary, according to the paper. Currently, the […] [more]
Comerica Tower sells for $32.5M
A Massachusetts investor bought Comerica Tower in downtown Fort Lauderdale for $32.5 million. Brookwood Financial Partners paid $196 per square foot for the Class A office building at 100 Northeast Third Avenue, according to CBRE, which represented seller Beacon Investment Properties of Hallandale Beach. Broward County has not recorded the transaction. The 11-story, 166,098-square-foot building was 82 percent leased when the sale to Brookwood was completed. It was only 69 percent occupied when Beacon acquired […] [more]
NoBe House construction underway in Miami Beach
Construction of NoBe House, a boutique residential building in the North Beach section of Miami Beach, is underway. Developer Tzadik Management held a groundbreaking ceremony for the 24-unit project at 8505 Harding Avenue on Tuesday, according to a written statement from a project spokesperson. Plans call for a mix of apartments and townhomes. Tzadik is partnering with Tui Lifestyle to offer buyers customized furniture for their units “We have had the vision of creating a […] [more]
Office tenants flock to top downtown and Brickell buildings, gambling reform off the table in Tallahassee … and more
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Downtown Miami
Office tenants flock to top downtown and Brickell buildings. Gambling reform off the table in Tallahassee. Riviera Beach marina construction begins. Read those stories and more after the jump.
Miami’s foreclosure activity still leads nation
Miami-Dade and Broward counties still lead the nation in foreclosures despite a 25 percent year-over-year drop in foreclosure activity during the first quarter of 2014. The Greater Miami area, which includes Fort Lauderdale and Pompano Beach, had the highest foreclosure rate of the nation’s 20 largest metropolitan areas during the quarter, the Miami Herald reported, citing RealtyTrac data. One in every 106 homes in Greater Miami was in some stage of foreclosure during the quarter. […] [more]
Hotel developer acquires Bay Harbor property
A company with ties to hotel developer the Murray Group acquired a Bay Harbor Islands property for $12 million, The Real Deal has learned. Bay Harbor Hotel, which is managed by Murray Group head Jacques G. Murray, purchased the 9601 East Bay Harbor Drive parcel from nonprofit the Church by the Sea on April 1, according to Miami-Dade County records. The county recorded the transaction Tuesday. The nearly 34,000-square-foot property is currently zoned for small […] [more]
Edgewater properties trade for $19M
An office building, retail building and parking lot in Miami’s Edgewater neighborhood changed hands for $19 million, The Real Deal has learned. A Miami company called 2937 Ferrari sold the 2919 and 2935 Biscayne Boulevard buildings and 330 Northeast 30th Street parking lot last Friday, according to Miami-Dade County records. The county recorded the transaction Tuesday. Nancy Karp, wife of prominent architect Kobi Karp, is the manager of 2937 Ferrari. Biscayne Acquisitions is the buyer. […] [more]
Historic Miami Beach building to get makeover
A 63-year-old Miami Beach building is about to get a substantial makeover. Architect Kobi Karp is overseeing the renovation of the Bhojwani Tower, exMiami reported. The building is located on the northeast corner of Lincoln Road and Washington Avenue. Designed by Albert Anis, Bhojwani was originally constructed in 1951. Karp plans to bring back certain aspects of the tower’s original design. One element that helped win over Miami Beach planners is the use of glazing […] [more]
Developer starts construction of Fort Lauderdale condos
A developer with a strong track record in Panama and Venezuela is making its first foray into the U.S. with a boutique waterfront condo project in Fort Lauderdale. Grupo Alco is constructing Adagio on the Bay, a 12-unit project at 1100 Seminole Drive, the Sun-Sentinel reported. Unit prices range from $1.5 million to $1.7 million. Four of the condos are under contract. All 12 units are about 3,000 square feet. Project amenities include floor-to-ceiling windows, […] [more]
Architect chosen for convention center renovation
Miami Beach commissioners awarded a contract to design the $500 million renovation of the city’s convention center to Denver-based Fentress Architects. Commissioners selected Fentress from a field of eight firms bidding for the $11 million contract on Wednesday, the Miami Herald reported. A selection committee previously ranked Fentress first out of the eight proposals, and City Manager Jimmy Morales suggested last week that commissioners should stick with the committee’s rankings. Fentress is now tasked with […] [more]
The Real Deal’s April 10 panel on Downtown Miami postponed
A panel scheduled to provide an in-depth look at the development boom in Greater Downtown Miami on April 10 has been indefinitely postponed. The roundtable and party were set to take place at Brickell Heights, a new condo project at Southwest 9th Street and South Miami Avenue being developed by the Related Group. Related canceled the event due to scheduling and logistical issues on their behalf. The discussion was to have focused on what’s next […] [more]
Top stories
Top stories yesterday on The Real Deal: 1. “Million Dollar Listing Miami” cast unveiled 2. Waterfront downtown Miami property up for sale 3. City Centre condo launch could recalibrate pricing [more]
New details about Edgewater tower revealed
More details have emerged regarding the Melo Group’s Aria on the Beach project. The tower is now set to rise 50 stories and will have 647 units. Previously, a different project, dubbed On the Park, was approved for the site at 1770 North Bayshore Drive. That building was designed by Arquitectonica. The same architect will handle the new Aria project, according to exMiami. The project will also include 40,000 square feet of commercial space and […] [more]
West Palm Beach to pay out $100,000 for water damages
Five years after a water main break did $400,000 worth of damage to their home, Sally Ricca and her husband, Brooks, will likely receive $100,000 from the West Palm Beach City Commission. The commission will vote next week on whether to hand over the cash after a faulty pipe did considerable damage to the 5,200-square-foot home off the Intracoastal Waterway in Palm Beach. The home was valued in 2013 at $4.5 million, according to the Palm […] [more]
City to narrow two streets to preserve historic buildings
To help preserve historic structures in downtown Miami, the city is shrinking two streets. City commissioners have approved an ordinance amendment to reduce the zoned street right-of-way width of Southeast First and Second avenues, which were set at to 75 feet wide and 70 feet wide, respectively, according to Miami Today. However, historic buildings, including City National Bank, Royalton, Olympia, Ingraham and Walgreen Drug were all built when street widths were set at 50 feet. […] [more]
West Palm Beach officials push for development
A City Commission workshop produced an economic development plan with hopes of creating jobs, growing the tax base, attracting business to West Palm Beach and promoting real estate development. “Real estate is going to play a big part in it,” Kevin Crowder, economic development director of Redevelopment Management Associates, the contractor running the city’s community redevelopment agency, told Daily Business Review. “Real estate is one those themes that drives everything else.” Last year, the value […] [more]
Mansions at Acqualina tops off, momentum builds for downtown-to-beach rail system … and more
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Renderings of Mansions at Acqualina exterior and pool and amenities
Mansions at Acqualina tops off. Momentum builds for downtown-to-beach rail system. Mixed-use building to be constructed in Sunset Harbour. Read those stories and more after the jump.
Miami Springs voters reject property sale
Miami Springs voters decided not to let the City Council sell a parking lot next to a golf course to a hotel developer. The referendum on the proposed $115,000 sale of the 10,299-square-foot property was rejected on Tuesday, the Miami Herald reported, citing the River Cities Gazette. A total of 1,039 Miami Springs residents voted against the sale, while 908 were in favor of it. The city has a total population of about 14,000, with […] [more]
Palm Beach County medical offices trade for $10.1M
A Scottsdale, Ariz.-based investor picked up a pair of medical office facilities in Palm Beach County for $10.1 million. STORE Master Funding VI, which is managed by single-tenant real estate specialist STORE Capital, acquired the properties on March 31, according to Palm Beach County records. The county recorded the transaction on Monday. No financing was recorded. International Real Estate Acquisitions of Wellington sold the buildings to STORE. Rajiv Patel is the managing director of the […] [more]
Waterfront downtown Miami property up for sale
A company tied to EPIC Hotel & Residences developers Ugo Colombo and Diego Lowenstein plans to sell a waterfront property adjacent to the luxury downtown Miami condo-hotel, The Real Deal has learned. CBRE is marketing the 1.25-acre parcel at 300 Biscayne Boulevard Way to potential buyers. D&P Property Holding owns the site, which was originally set for development as EPIC’s second phase. State corporate records identify Colombo and Lowenstein, the CEO of Lionstone Development, as […] [more]
Broward Health grabs Lauderdale offices for $13.5M
Broward Health acquired Spectrum Office Park in Fort Lauderdale for $13.5 million, The Real Deal has learned. Formerly known as the North Broward Hospital District, Broward Health purchased the two-building complex at 1700 and 1800 Northwest 49th Street on Tuesday, according to Broward County records. No financing was recorded. The seller, Chicago-based Sawgrass & Spectrum SDCO, paid $13.1 million for the nearly 8.4-acre properties in May 2001. Constructed in 2000, the buildings have a combined […] [more]
Brickell office building owners get $47M loan
The owners of Brickell City Tower in Miami obtained a $47 million bridge loan shortly after selling a portion of their site to multifamily developer ZOM. A joint venture between Banyan Street Capital, Crocker Partners, Independencia and Silverpeak Real Estate Partners received the mortgage from Chicago-based Ares, according to Tuesday’s written announcement from CBRE, which arranged the transaction. The venture, which operates at 80 SW 8th Street LLC, sought the financing to release substantial equity […] [more]
Receiver takes over Thomas Kramer’s Star Island homes
The Star Island mansions owned by bad-boy German developer Thomas Kramer are now in the control of a court-appointed receiver. Miami-Dade Circuit Judge Daryl E. Trawick signed an order designating Meland Russin & Budwick partner Mark Meland as the receiver of the 4 and 5 Star Island Drive homes on Tuesday, the Miami Herald reported. Meland now takes custody of the property and oversees any rent or other income collected. He also must make sure […] [more]
Top stories
Top stories yesterday on The Real Deal: 1. “Million Dollar Listing Miami” cast unveiled 2. City Centre condo launch could recalibrate pricing 3. Star Island mansion sells for $29M [more]
Investor nabs non-distressed property on Auction.com
A commercial property in Pompano Beach was picked up on Auction.com by a private investor recently — a move that the real estate website’s management says highlights the site’s expanding share of non-distressed property sales. The Pompano Merchandise Mart at 2099 and 2101 West Atlantic Boulevard sold for $9 million after three days on the site. The 7.5-acre property consists of a four-building, 118,242-square-foot commercial center. Sales of non-distressed assets on Auction.com are becoming more common […] [more]
Hollywood print shop to give way to charter school
The City of Hollywood reportedly gave a development firm the green light to convert a deserted print shop into a charter school — after the developer sought approval for the project for 10 months. MG3 Dixie LLC will build the Renaissance Charter School on a 10.2-acre plot at 2025 McKinley Street, bordered by the North Dixie Highway, North 20th Avenue and North Taft Street, the Daily Business Review reported. Neighborhood associations also approved the 240,000-square-foot […] [more]
“Million Dollar Listing Miami” cast unveiled
After months of speculation, Bravo finally revealed the cast of “Million Dollar Listing Miami.” The network announced on Tuesday that Samantha DeBianchi and Douglas Elliman Real Estate’s Chad Carroll and Chris Leavitt are the three brokers to be featured on the new show, which premiers in June. World of Wonder Productions is the producer of the Miami edition of “Million Dollar Listing.” Bravo is counting on the Miami series to emulate the successful New York […] [more]
Regional, state boards approve large West Palm project
Another round of approvals came in for the West Palm Beach condo complex proposed by the Related Group and Huizenga family. Both regional and state boards that reviewed the proposal for six condo towers at Rybovich Marina had no major issues with the project, according to the Palm Beach Post. West Palm Beach commissioners gave an initial approval of the 14-acre development in February. A final vote is expected during the commission’s April 28 meeting. […] [more]
PortMiami’s debt request could impact Beckham’s stadium plan, Swire sued by Brickell City Centre neighbor … and more
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PortMiami and David Beckham
PortMiami’s debt request could impact Beckham’s stadium plan. Swire sued by Brickell City Centre neighbor. Lennar subsidiary buys Pinnacle Mortgage Group. Read those stories and more after the jump.
Aventura development gets commissioner approval
Aventura commissioners approved a mixed-use development with a 230-room hotel, medical office building and assisted living facility. Developer Aventura Land Ventures received the go-ahead for the complex last week, the Miami Herald reported. The company plans to construct the project on 7.4 vacant acres at Northeast 207th Street between 29th and 30th avenues. The project also includes a seven-story office building and 134-unit residential building. Plans for each building – except the assisted living facility […] [more]
Medium-priced home sales surge in Miami-Dade, Broward
Owners of medium-priced homes in Miami-Dade and Broward counties were the big winners in 2013, according to a new report from One Sotheby’s International Realty. Homes priced between $250,000 and $500,000 in Miami-Dade and Broward enjoyed a 35 percent jump in sales from 2012 to 2013, the firm’s “TRENDS 2014 Market Report” shows. One Sotheby’s expects prices to flatten during 2014, however, as more inventory is added to both counties. Miami-Dade’s residential market totaled 31,909 […] [more]
City Centre condo launch could recalibrate pricing
Preconstruction condo pricing in Greater Downtown Miami is expected to recalibrate in the next 30 days in response to this month’s soft launch of presales at a minimum of $650 per square foot for the first residential phase of the mixed-use Brickell City Centre project. Sales representatives for the project’s developer, Hong Kong’s Swire Properties, began making private presentations detailing the first two condo towers with a combined 820 units at Brickell City Centre to […] [more]
Rudy Gay buys Southwest Ranches manse
Basketball star Rudy Gay purchased a Southwest Ranches mansion for more than $2.1 million, The Real Deal has learned. The Sacramento Kings forward and his wife Ecko acquired the seven-bedroom, 10,373-square-foot home in an all-cash transaction, according to Broward County records. Angelo and Yolanda Thrower sold the 16875 Berkshire Court manse to the couple. The county recorded the transaction Monday. Constructed in 2004 on nearly 2.4 acres, the mansion has seven full bathrooms and one […] [more]
Prime Coconut Grove site acquired for nearly $30M
A group of investors paid nearly $30 million for a bayfront Coconut Grove office building on a site zoned for condo or mixed-use development. The buying group includes Camilo Miguel, CEO of Miami Beach-based Mast Capital, Miami-based 13th Floor Investments and Greenwich, Conn.-based Wexford Capital, the Miami Herald reported. The all-cash, off-market transaction closed Monday. A nine-story office building is currently located on the 2699 South Bayshore Drive property. A Chilean investor sold the property […] [more]
Related’s Icon Las Olas finally moves forward
The Related Group is confident its 15-year battle with the City of Fort Lauderdale and historic Stranahan House over the 42-story Icon Las Olas project is in the past. Related vice president Patrick Campbell told the Sun-Sentinel the company expects to advance the 272-unit, $250 million complex this year. The project in the 500 block of East Las Olas Boulevard would include a public plaza connecting the Las Olas entertainment district with the Riverwalk along […] [more]
Top stories
Top stories yesterday on The Real Deal: 1. Star Island mansion sells for $29M 2. Mansions at Acqualina penthouse under contract 3. ZOM reveals Brickell, downtown Miami rental projects [more]
Brazil consulate finds bigger space in Coral Gables
Amid a surge of Brazilian tourism and real estate investment in Miami, the Consulate General of Brazil is relocating from its office in Brickell to a bigger space in Coral Gables to accommodate the agency’s growth. Steve and Eric Gaunt of real estate advisory firm Cresa South Florida represented the consulate in the lease for 24,518 square feet at 3150 Miami Green Way, Globe St. reported. The agency currently leases space at 80 Southwest Eighth […] [more]
Related Urban postpones Gateway Tower
Related Companies’ mixed-use development arm, Related Urban, shelved plans to build Gateway Tower at CityPlace in West Palm Beach due to a shortfall of interested tenants. The tower was slated to be built in the median of Okeechobee Boulevard between Florida and Alabama avenues. Potential tenants, including Bank of America/Merrill Lynch and two law firms, reportedly backed out because they needed the space in less than 18 months. Related would have needed at least two years […] [more]
Jeff Greene criticizes Royal Poinciana vote
Billionaire developer Jeff Greene weighed in on the controversial zoning plan for Royal Poinciana Way in the Town of Palm Beach, where he is amassing a large real estate portfolio. Greene told the Palm Beach Daily News he was flummoxed by the outcome of last month’s referendum on a proposed zoning ordinance called PUD-5. Voters defeated the ordinance, which would have allowed more redevelopment on Royal Poinciana Way. “It’s so bizarre,” Greene said. “I think […] [more]
Housing affordability an issue in South Florida
South Florida homes are affordable when compared to historical prices, but many properties are too expensive for today’s buyers, the latest report from Zillow.com shows. Buyers in Miami-Dade, Broward and Palm Beach counties spend $722 of their monthly income on mortgage principal and interest. That is 12 percent below what was spent during the pre-bubble period between 1985 and 2000. About 62 percent of homes up for sale now in the tri-county area are not […] [more]
Exploring the impact of rising sea levels, Trader Joe’s a huge boost for South Florida’s retail sector … and more
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Trader Joe's
Exploring the impact of rising sea levels. Trader Joe’s a huge boost for South Florida’s retail sector. Wal-Mart to hire 300 workers at Miami-Dade store. Read those stories and more after the jump.
Avenir discussion scheduled tonight in PB Gardens
The first in a series of public workshops on Palm Beach Gardens’ largest proposed development will be held tonight. City residents have the chance to discuss the 7,600-home Avenir project with the Coral Gables-based developer during tonight’s workshop. The event is scheduled for 6:30 p.m. inside the Doubletree Hotel at 4431 PGA Boulevard. It is the first of three workshops planned over the next two months. Avenir Holdings wants to build the 7,600 residences on […] [more]
ZOM reveals Brickell, downtown Miami rental projects
Multifamily developer ZOM revealed its plans for two rental projects in the Brickell area and downtown Miami. Orlando-based ZOM released a pair of written statements detailing the company’s unnamed Brickell high-rise and Montage at Met 3 tower on Monday. ZOM closed on the $16.8 million purchase of the 80 Southwest Eighth Street property, which is located near Brickell City Centre and Mary Brickell Village, last month. It formed a joint venture with AIG Global Real […] [more]
Large lease signed at Flagler Station
International freight forwarding company Krystal Logistics is set to nearly double the size of its industrial occupancy at Flagler Station in Medley. Krystal signed a 78,000-square-foot lease at the future Building 36 in the business park, according to Monday’s written announcement from CBRE, which represented the tenant. The company is currently in a 46,000-square-foot facility at Flagler Station. It is scheduled to move to a new distribution facility under construction at Northwest 91st Street and […] [more]
Equity One hires new CEO
North Miami Beach real estate investment trust Equity One already found a replacement for its departing CEO. Equity One is bringing in longtime retail executive David Lukes to take over for CEO Jeffrey Olson later this year, according to the company’s written announcement released on Monday. Lukes is currently president and CEO of Sears Holdings Corp. affiliate Seritage Realty Trust. He previously worked as an executive at private New York real estate firm Mall Properties […] [more]
Star Island mansion sells for $29M
A Star Island mansion that had been on the market for more than 260 days finally sold for $29 million. The sale of 30 Star Island Drive closed on Friday, luxury residential broker Jill Eber told the Miami Herald. Eber and partner Jill Hertzberg at Coldwell Banker listed the manse for developers Todd Glaser and the Posner Group. The home was originally listed for $35 million. A 16,000-square-foot bayfront estate, 30 Star Island has 11 […] [more]
Mansions at Acqualina penthouse under contract
Mansions at Acqualina developer the Trump Group recently found a buyer for the penthouse unit at the luxury Sunny Isles Beach tower. The 47th-floor condo at the building is under contract to an undisclosed buyer, the Wall Street Journal reported. Trump originally marketed the unit as the top half of the “Palazzo D’Oro” duplex at an asking price of $55 million. Now, the developer has reconfigured the 46th floor and combined it with the 45th […] [more]
Top stories
Top stories over the weekend on The Real Deal: 1. Investors swarm Miami’s Design District 2. Celine Dion chops asking price on Jupiter home 3. Sergio Rok company sells two downtown buildings [more]
Dolphins defensive tackle nabs Davie home
Miami Dolphins defensive tackle Randy Starks recently signed a new contract with the team. Now, the athlete has put pen to paper on another contract: a home purchase in Davie for $1.9 million. The 9,631-square-foot house, which is located at 12723 Grand Oaks Drive, was sold by Debra Attonito and Joseph Attonito, who paid $497,500 for the lot in 2005, according to the South Florida Business Journal. Starks paid cash for the six-bedroom, seven-bathroom home. […] [more]
South Florida property industry targets tech outfits
Miami’s commercial real estate sector is looking to the tech industry for future expansion. Many in the real estate business are hoping that the upcoming eMerge Americas Techweek conference, which brings together civic leaders, industry bigwigs and entrepreneurs with the purpose of establishing a technology corridor for the Americas, will spark growth in the office market. “Like the South by Southwest conference, which draws 250,000 people to Austin every year, eMerge Americas Techweek has the […] [more]
Jon Stryker’s Palm Beach estate in contract for $47.8M
Just six months after it hit the market at $47.8 million, billionaire Jon Stryker’s Palm Beach estate is under contract. With 300 feet of sea front, the 2.6-acre estate has three addresses and two vintage houses, including 540 South Ocean Boulevard, which was once owned by singer Jimmy Buffett. The property’s other addresses are 530 South Ocean Boulevard and 61 Middle Road, which is landmarked. Corcoran Group’s Team Koch – Paulette Koch and her son […] [more]
South Florida listings site to partner with hedge fund
Miami-based Houses.com, a real estate classifieds site and online brokerage, has entered a “definitive joint venture agreement” with Coral Gables-based Bayview Asset Management. Bayview is one of Miami’s largest hedge funds, with $4.3 billion in assets, according to the Daily Business Review. The partnership will involve investments in Houses.com by Bayview and allow Bayview to list some of its property inventory online, according to Houses.com CEO Richard Swerdlow. “As a significant financial institution, they have […] [more]
Former Scott Rothstein partner pleads guilty, $300M venture gambles on Sunrise office complex … and more
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Former Wyndham Garden Inn in Miami Beach (via South Florida Business Journal)
Former Scott Rothstein partner pleads guilty. $300M venture gambles on Sunrise office complex. South Beach hotel to get $10M makeover. Read those stories and more after the jump.
Miami Beach home sells for $10.5M
A North Bay Road home in Miami Beach traded for $10.5 million. Kristopher B. Hinson sold the 4750 North Bay Road residence to Miami-based Virginia Bright LLC on Monday, according to Miami-Dade County records. Hinson paid $5.6 million for the 6,837-square-foot home in May 2004. Virginia Bright obtained a $7 million mortgage from New York-based RN Security Lending for the purchase. State corporate records identify Ronald Isriel as president of the buying company. The six-story, […] [more]
Florida borrowers helped through Hardest Hit program
Early returns are coming in for the state’s mortgage reduction program. The average Florida homeowner approved for the program is receiving $41,950 to pay down a home loan, according to the Palm Beach Post. But thousands of applicants are still in limbo six months after the initiative was announced. A total of $350 million was set aside for the principal reduction program, one of five that fall under the state’s $1 billion Hardest Hit housing […] [more]