The Real Deal Miami

  • Office market still making gains

    Higher rents may justify new construction
    October 24, 2014 05:15PM
    Patrick Duffy

    Patrick Duffy

    Leading indicators for Miami-Dade County’s office sector point to strong gains that could support new construction.

    According to the Daily Business Review, a report from Newmark Grubb Knight Frank shows that the sector has achieved its highest occupancy in five years. [more]

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  • Miami foreclosures on the decline

    Percentage of mortgages turning bad also shrinking
    October 24, 2014 04:30PM

    foreclosureGood news for the Greater Miami area: foreclosures continue to drop.

    For August, the foreclosure rate in the Miami-Miami Beach-Kendall neighborhoods slipped to 5.66 percent of outstanding mortgages, the Miami Herald reported. This is the lowest point seen since the housing crisis — and a drop of 4.82 percentage points from a year ago, according to CoreLogic. [more]

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  • TRD’s Real Estate Showcase draws more than 4,000 industry professionals

    Large group of heavy-hitters attends Thursday's event in Miami's Design District
    October 24, 2014 04:03PM By Eric Kalis
    The scene from the Moore Building's atrium during Thursday's TRD Real Estate Showcase

    The scene from the Design District’s Moore Building’s during Thursday’s TRD Forum & Showcase

    More than 4,000 real estate enthusiasts flocked to the Moore Building in Miami’s Design District on Thursday for The Real Deal’s South Florida Forum and Showcase. [more]

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  • Palm House owner sues former manager

    Front door chained in dispute over hotel condominium
    October 24, 2014 03:45PM
    Palm House

    Palm House

    The saga of the Palm House hotel condominium took another strange twist this week that left the front doors chained and padlocked and the former manager sued by the majority owner. [more]

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  • Inside therealdeal.com

  • Out-of-town condo developers flock to South Florida

    Peter Zalewski tackles reader questions and opinions about the SoFla market
    October 24, 2014 03:30PM By Peter Zalewski
    Peter Zalewski

    Peter Zalewski

    Question: Are we starting to see inexperienced developers coming into the market to try to ride the wave of growth here? That was a big issue last cycle. How can someone new-to-market thrive in South Florida?

    Anyone who has ever lived in or visited South Florida quickly realizes that the tri-county region is a proverbial melting pot where everyone – regardless of their background – has a chance to achieve economic success. [more]

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  • Should a new school be built for Downtown?

    Consultant study says stats don’t reveal sufficient demand
    October 24, 2014 03:00PM
    Booker T. Washington Senior High School

    Booker T. Washington Senior High School

    A proposal for a new school in Downtown Miami is offering up some tricky math and civics lessons. [more]

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  • Construction contracts up 19% in South Florida

    Residential dominates the region with a 30 percent increase
    October 24, 2014 02:15PM

    ConstructionThe latest numbers confirm that a South Florida construction boom is underway.

    According to McGraw Hill Financial, there was a 19 percent increase in construction contracts awarded in South Florida through the first nine months of 2014, the South Florida Business Journal reported. The firm said that there were $6.02 billion in construction contracts handed out in the tri-county region, an increase from $5.06 billion in the year-ago period. [more]

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  • Developer collects parcels for major Broward project

    Multi-use complex would replace abandoned Dania Beach roller coaster
    October 24, 2014 01:30PM
    Bob Shapiro

    Bob Shapiro

    The pieces are coming together for a plan to replace the Dania Beach roller coaster with a $250 million-plus multi-use project, one of the biggest in Broward County.

    Bob Shapiro, president of Aventura-based Master Development, has bought two parcels and expects to complete the other six deals by the end of the year to acquire the eight parcels he needs. That would give him 100 acres for DaniaLive Marketplace, a 1.3 million-square-foot development with big-box retail stores, restaurant, a hotel and residential units. [more]

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  • City to consider lifting tough parking rules

    Miami's planning board will review measure next month
    October 24, 2014 12:45PM
    Miami commissioner Francis Suarez

    Commissioner Francis Suarez

    An initiative to loosen Miami’s restrictive parking requirements advanced to the city’s Planning and Zoning Board.

    The zoning code, which dictates a minimum of 1.5 parking spaces for every residential unit, is seen as restrictive by small developers and urban activists. Amending the code would enable developers to build more small-scale condo projects served by public transportation in the city’s core. [more]

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  • Miami investor spends $81M on apartment portfolio

    Tzadik Management acquires 2,199 units in five Florida markets
    October 24, 2014 12:00PM
    Tzadik founder Adam Hendry

    Tzadik founder Adam Hendry

    Miami-based Tzadik Management acquired 2,199 apartments across Florida for a combined purchase price of $81 million.

    Tzadik obtained financing and bought 13 multi-family communities in Jacksonville, Lakeland, Orlando, Sarasota and Tampa, according to the firm’s written statement released on Friday. Since launching in 2007, the company has amassed an ownership and management portfolio of more than $300 million worth of apartment complexes and luxury condo developments. [more]

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