Ritz-Carlton Residences Palm Beach

From the South Florida website: With much of the world still in a real estate winter, Miami’s quick-moving
market is making developers and brokerage firms compete for the
residential projects that are left, with a series of incentives. Brokerages and developers are offering everything from increases in
commissions to iPads to luxury vacations to help ramp up sales. With inventory dropping drastically, developers and brokers are doing
what they can to compete for sales. “What happened in our little piece of the world — we’re enjoying
probably an anomaly as related to the rest of the real estate market,”
said Philip Spiegelman, chairman of ISG, which recently joined with
developer Jorge Perez to form a new sales company, Related
ISG. “Things are selling rapidly across the board, principally to
buyers from Latin America.” [more]

Related Companies CEO Stephen Ross and his colleague, Miami condo mogul Jorge Perez, head of the Related Group, had $4 million invested with accused fraudster Scott Rothstein, according to bankruptcy court documents filed Dec. 22, Paul Brinkmann of the South Florida Business Journal reported. Related PR, whose mailing address matches that of a Miami office of the Related Group, appears on a list of investors in the Fort Lauderdale attorney’s former law firm, Rothstein Rosenfeldt Adler, which filed for Chapter 11 bankruptcy after Rothstein’s massive Ponzi scheme was revealed. Perez is director and president of Related PR and Ross is a director, according to state documents. Most of the other investors on the list are from Florida, but a group of New York investors, including Ross and Zack Hampton Bacon III, a hedge fund manager who invested $500,000 with Rothstein, were also scammed. [SFBJ]

From the South Florida Web site: Trump Hollywood officially opened its doors on Friday with all the fanfare that usually accompanies a grand opening bearing the Donald’s surname. Developed by the Related Group, the $355 million, 40-story luxury tower faces the Atlantic Ocean with a glass facade, beachfront pool deck, library, private dining room, club room, screening room and a list of other amenities. Related Group CEO Jorge Perez and Donald Trump Jr. were on hand to host a luncheon and tour of the property, which includes a 4,000-square-foot spa and fitness center, yoga studio and treatment rooms, a wine cellar, cigar room and sunrise bistro. [more]