Cover of South Florida Market Report

The May issue of The Real Deal includes a free copy of the South Florida Market Report, which provides a behind-the-scenes look at the most important real estate markets in the Sunshine State. Inside you’ll find out who the top condominium developers are in South Florida, as well as the latest on commercial, residential and retail markets. And don’t miss our one-on-ones with Kevin Maloney of the Manhattan-based Property Markets Group and Vanessa Grout, who heads up Douglas Elliman’s South Florida operation. Finally, get up close with the Related Companies’ man in South Florida, Jorge Pérez, and find out his takeaway from the housing crisis.

860 Washington rendering

A theater production company has taken 10,000-square-foot digs at 860 Washington Street and will use the temporary space to host their latest musical, the New York Observer reported.

Howard and Janet Kagan will bring their production “Natasha, Pierre and the Great Comet of 1812″ – a rock opera spin on “War and Peace” – to the space, located at West 13th Street just off the High Line on Washington Street. [more]

A previous rendering of the tower

A partnership led by Michael Stern’s JDS Development and Property Markets Group is considering increasing the height of its planned hotel and condominium tower on West 57th Street to up to 900 feet, following the acquisition of the adjacent Steinway building, a principal at PMG told The Real Deal.

The partnership paid $46 million for a stake in the 247,000-square foot building at 109 West 57th Street belonging to Steinway Musical Instruments, the manufacturer of the classic pianos, in partnership with Atlantic Investors earlier this month. The purchase likely allows the developers to ramp up their plans for an adjacent site they bought last spring with Starwood Capital, Kevin Maloney of PMG told The Real Deal last month. [more]

Echo Aventura. Inset: Kevin Maloney

From the South Florida site: Young women in flowing pastel chiffon, Cirque du Soleil acrobats shimmying down silken ropes to pour champagne, a violin-and-drum duet, ceviche de Peru, seaweed salad, California rolls, crab cake sliders, ice cream sundaes and cocktails galore — all to entertain the crowd of smartly dressed party-goers who gathered in a see-through tent at the site for Echo Aventura, a $160 million luxury condominium going up on Biscayne Bay just outside of Miami. [more]

A rendering of 860 Washington Street

One of the more striking transformations of the Meatpacking District will soon be rising at the intersection of 13th and Washington streets. The project — known both as 860 Washington and 437 West 13th Street — was conceived by James Carpenter Design Associates, better known for tactically intervening in the works of other, more full-fledged architects than for creating its own structures from scratch. [more]

The former Verizon building at 435 West 50th Street

JDS Development Group and Property Markets Group have secured $45 million in financing for their luxury condominium development in the former Verizon building in Hell’s Kitchen, indicating that banks are becoming more receptive to condo projects, the Wall Street Journal reported. The partnership, which acquired the upper floors of the Ralph Thomas Walker-designed telephone building at 435 West 50th Street for over $25 million in 2011, aims to convert the upper floors into 71 luxury condos, as The Real Deal previously reported. Starwood Capital will supply additional equity…. [more]

Kevin Maloney and 23-10 Queens Plaza South

Property Markets Group is planning to construct a 410-unit rental building on two lots in the Hunter’s Point area of Long Island City, the company told The Real Deal today. The developer paid $37 million for a 14,920 square-foot-lot at 23-01 42nd Road and a 27,200 square-foot lot at 23-10 Queens Plaza South from the Kraupner Group late last month, property records show. PMG partnered with Howard Lorber’s Vector Group and the Hakim Organization to purchase the property. PMG founder Kevin Maloney confirmed that Douglas Elliman, where Lorber is chairman, would market the residential part of the development…. [more]

PMG head Kevin Maloney and 318 Nevins Street

Property Markets Group, a developer known for luxury residential buildings, has picked up a Gowanus warehouse in a $14 million deal, DNAinfo reported. The real estate group purchased the 25,000 square-foot building at 318 Nevins Street last month, but a new luxury development isn’t set to rise on the site as of yet. The firm plans to lease out the site for the time being, PMG’s Richard Lam, said. [more]

Renderings of 202 8th Street (inset: Michael Stern)

A 51-unit rental building is rapidly taking shape at 202 8th Street, an L-shaped lot in Gowanus that was originally slated for condominiums when developers JDS Development Group and Property Markets Group acquired the site in 2008.

Construction crews completed the 12-story superstructure this week, and the developers have scheduled a small “topping off” ceremony for next Friday, Michael Stern, the managing partner of JDS, said. While superstitious builders may have shied away from the inauspicious date, Stern embraced it. “You can’t forget Friday the 13th,” he said. [more]

Emily Beare (top), Vickey Barron and 210 West 18th Street

JDS Development’s conversion of the Verizon building in Chelsea will yield 53 condominium units priced between $3,000 and $10,000 per square foot, the New York Times reported.

As The Real Deal previously reported, the project is a joint venture between JDS Development and Property Markets Group and obtained equity from Barry Sternlicht’s Starwood Capital. It is set to hit the market in this spring under Core, which told The Real Deal yesterday that it selected Vickey Barron and Emily Beare to head the marketing effort. [more]