Chinese investors are spending more on U.S. real estate than any other foreign country. Alarms are sounding at the headquarters of Sports Authority, which is closing all of its stores — including more than a dozen in South Florida — amid a bankruptcy auction. And apartment builder ZOM is looking for county approvals to build yet another rental tower in Brickell. Read these stories and more after the jump. … [more]
The Wrap: Chinese investors are pouring money into U.S. property, Sports Authority to close all stores including these SoFla locations…and moreMay 24, 2016 06:10PMA 2011 photo of downtown Miami’s skyline (Credit: Lonny Paul) and the Chinese flag (Credit: Daderot)
Federal appeals court throws out 2013 verdict on sale of toxic mortgages to Fannie and FreddieMay 24, 2016 05:00PM
From the New York website: Bank of America is off the hook for a $1.27 billion fraud penalty for its Countrywide Financial division’s role in selling toxic mortgages to Fannie Mae and Freddie Mac in the buildup to the 2008 financial crisis.
On Monday, a Manhattan federal appeals court overturned a 2013 jury verdict that found Countrywide, which Bank of America acquired in 2008, fraudulently dumped the shoddy mortgages on the government-sponsored entities despite having promised to sell only investment-quality loans. [more]
Previous record was set by $2.35M home, which sold in February 2015May 24, 2016 04:15PM By Katherine Kallergis
The owner of Epicure and his wife have sold their Bay Harbor Islands home for a neighborhood record of $4.85 million.
Jason and Diana Starkman sold the six-bedroom, 6,712-square-foot home at 10031 West Broadview Drive on Tuesday, listing agent Chad Carroll of the Carroll Team told The Real Deal. [more]May 24, 2016 03:30PM
Jackie Soffer responded to allegations that the vice-mayor of Bal Harbour is biased against the proposed expansion of Bal Harbour Shops because of a personal relationship with the Soffer family.
As The Real Deal reported on Tuesday, the owners of Bal Harbour Shops launched a website that makes public more than 10,500 pages of emails and texts messages from vice-mayor Patricia Cohen’s private cellphone and email accounts. The Whitman family, which owns the shops, is suing against Cohen and the village for allegedly violating Florida’s public records law.
Read more here.
Inside therealdeal.comRetail will be anchored by Cinemex, Saks Fifth Avenue and an Italian food hallMay 24, 2016 03:00PM
Brickell City Centre officially released the opening date for the retail component of the project along with a list of 11 new tenants, including Sephora, Hugo Boss and Tommy Bahama. [more]Developer expects to finish project by January 2018May 24, 2016 02:15PM
With site work well underway at Morgan Group’s Pearl Midtown 29 rental tower, the developer’s architect just released new renderings of the project that are a big step up from what’s previously been circulated. [more]464-unit apartment tower will offer 60,000 square feet of common amenitiesMay 24, 2016 01:30PM By Katherine Kallergis
New York-based Property Markets Group is about to break ground on its rental tower in downtown Miami as it works on securing $110 million in financing for the amenities-laden, luxury apartment tower, principal Ryan Shear told The Real Deal. [more]Top deal was for oceanfront unit at Jade BeachMay 24, 2016 12:45PM By Sean Stewart-MunizUnit 4401 in the Jade Beach tower in Sunny Isles Beach and a map of Miami-Dade’s priciest condo deals last week
Take a look at the most expensive condos that were sold in Miami-Dade County last week, courtesy of The Real Deal and Condo.com. … [more]MDM still needs county approval to extend life of Overtown CRA until 2042May 24, 2016 12:00PM
City of Miami commissioners approved an essential subsidy package on Monday night for the development of a downtown Miami convention center and hotel. [more]Database includes 10,500 pages of emails and texts belonging to the Bal Harbour vice-mayorMay 24, 2016 11:15AM By Francisco Alvarado
In the latest attempt to salvage their original $400 million expansion plan, the owners of Bal Harbour Shops have launched a website targeting their leading opponent, drawing a sharp rebuke from a perceived competitor caught in the crossfire. [more]« Previous Next »
UPDATED: Japanese firm makes major investment play with $220M purchase of Miami Tower April marks fifth month of falling Miami-Dade home sales: report Brazilian businessman buys Miami Beach spec home: $13.6M Moishe Mana’s revised Wynwood project advances Suit filed against Marriott alleges illegal timeshare scheme, seeks class action