The 80-story Liquid Lofts project just nabbed approval from Miami’s Planning and Zoning Department. Developers are eyeing Miramar for new retail and hotel projects. And check out these renderings of Paramount Miami Worldcenter’s swanky indoor amenities. Read these stories and more after the jump. … [more]
The Wrap: Liquid Lofts gets approval from Miami planning department, Miramar to consider plans for new retail and hotel projects…and moreJuly 28, 2016 06:15PM
The firm, Miami Real Estate Group, will expand its focus, add agents and open a new officeJuly 28, 2016 06:00PM By Ina Cordle
After seven years heading Fortune International Group’s development sales division, Andres Asion is leaving Friday for his own firm, The Real Deal has learned.
And the timing is no accident. [more]
Investors Management Group paid $20M for CityView last JuneJuly 28, 2016 05:15PM By Katherine Kallergis
Dallas investment firm Highland Capital Management picked up the CityView Apartments in West Palm Beach for $22.42 million, or about $103,000 per unit. [more]CVS has 25 years left on leaseJuly 28, 2016 04:30PM By Katherine Kallergis
A CVS in West Miami has sold for nearly $953 a foot, or $12.5 million. [more]
Inside therealdeal.comDelinquency rate also improved significantlyJuly 28, 2016 03:45PM
With floundering sales and ever-growing prices weighing down Miami-Dade County’s housing market, there is at least one undercurrent of strength to be found.
Miami-Dade’s foreclosure rate fell again during May, marking the 16th straight month of drooping rates — minus a hiccup in December. [more]Roughly 63 percent of Americans own homes – down from 69 percent in 2004July 28, 2016 03:00PM
From the New York website: The U.S. homeownership rate dropped to its lowest level since 1965, according to a new report from the Census Bureau.
Nearly 63 percent of U.S. households owned their home in the second quarter of the year – down from 63.5 percent in the previous quarter. The rate reached a peak of 69.2 percent in 2004 but tumbled in the wake of the 2008 financial crisis amid stagnating incomes and rising home prices. [more]Parent company Vector has $475M in cash and plans to increase equity investments: LorberJuly 28, 2016 02:15PM By E.B. Solomont
From the New York website: Bucking the notion that the real estate market is softening like butter on a balmy day, Douglas Elliman sold $6.4 billion worth of real estate nationwide during the second quarter of 2016, up from $5.5 billion a year earlier, the brokerage’s parent company Vector Group reported Thursday.
For the first six months of the year, Elliman closed sales worth $12.1 billion, up from $9.6 billion during 2015’s first half, Vector said. And profits at New York City’s largest brokerage also soared, largely on the back of investments in its development market division, Chairman Howard Lorber said during an investor call. [more]Developers are adjusting their pricing and increasing broker commissions to move unitsJuly 28, 2016 01:30PM By Francisco Alvarado
Slower sales and a glut of inventory has led to a buyers’ market for South Florida luxury properties, according to Miami Beach real estate agent Jill Eber.
“For almost five years we were just on an upward spiral,” Eber, of Coldwell Banker’s the Jills, told a gathering of real estate professionals Wednesday evening. “But, right now, it has adjusted and it has become more of a buyers’ market.” [more]Pennsylvania businessman bought the new oceanfront estateJuly 28, 2016 12:45PM By Katherine Kallergis
A Palm Beach developer and businessman just sold a beachfront spec mansion in Manalapan for $25.2 million, a significant difference from the $38.5 million asking price. [more]Residential sector pulled down the industry last monthJuly 28, 2016 12:00PM
Despite stumbling in June, South Florida’s construction industry is still on track to outpace the $6.3 billion spent on contracts last year. [more]« Previous Next »
Miami-Dade retail market softens, while Broward and Palm Beach thrive Coral Gables approves mixed-use Gables Station along U.S. 1 Moishe Mana says he’ll give $1M to charity if Trump reveals his tax returns Auto magnates Rick and Rita Case sell their Hillsboro Beach estate: $6.5M Moving forward: new retail plans for Miami Worldcenter, Moishe Mana’s apartment tower