The Real Deal Miami

Top stories yesterday on The Real Deal:
1. Sales fly at Argentine real estate giant’s U.S. debut
2. Demand draws Related to affordable housing
3. Miami benefits from Latin America’s rising crime

601 Harbor Drive in Key Biscayne

Today’s priciest new listing is a six-bedroom, six-bathroom single-family home asking $3.4 million. [more]

Two developer teams are facing off to win Miami Beach’s biggest public prize in a century, and one of the most buzzed-about urban renewal projects in the U.S. today – the redevelopment of the city’s convention center and a 52-acre parcel of city-owned land. Both projects envision condos, parks, cultural space, retail and a hotel, in addition to upgrading the convention center and adjacent ballroom. The lucky winner is expected to be announced July 17. [more]

From the New York site: Applications to build single-family homes reached a five-year high nationally last month, according to Department of Commerce data cited by Bloomberg News.

The number of applications to build single-family homes rose 1.3 percent to a 622,000 per month annualized rate, the most dramatic month-over-month rise since May 2008. Construction starts on U.S. homes also saw an increase of 6.8 percent to an annual rate of 914,000, the Commerce Department announced. [more]

West Palm Beach

Citibank is lending $11.8 million for the construction of a seven-story West Palm Beach residential building, the South Florida Business Journal reported. [more]

From left: Oceana Key Biscayne renderings and Eduardo Costantini

UPDATED, 5:30 p.m., June 18: Oceana Key Biscayne, the first U.S. development of Argentine real estate mogul and art collector Eduardo Costantini, is more than 90-percent sold-out pre-construction, leaving only 1 penthouse and 6 villas on the market 10 months after sales opened, The Real Deal has learned. [more]

Caracas, Venezuela

South Florida is benefiting from a rise in violent crime in Latin America, WLRN reported.

While the region enjoys one of the world’s fastest rates of economic growth, it is simultaneously burdened with one of the worst waves of violent crime in its history, the public radio station reported. [more]

Lincoln Road

Terranova Corp. and Acadia Realty Trust obtained a $84 million loan from Bank of America for a trio of retail buildings on Lincoln Road in Miami Beach, Daily Business Review reported.

Terranova and Acadia purchased the buildings at 719, 801 and 826 Lincoln Road for $139 million last year. [more]

From left: the La Gorce Island home that Goldstein was looking to seize and rapper Lil Wayne

Rapper Lil Wayne paid off a $3.4 million judgment against him, saving his Miami Beach mansion from seizure, GossipExtra reported, citing paperwork filed to Miami-Dade County. [more]

Top stories yesterday on The Real Deal:
1. Bal Harbour Shops founder takes show to Brickell
2. Demand draws Related to affordable housing
3. Former Al Capone Palm Island estate sells for $7.4M