The Real Deal Miami

Posts Tagged ‘condo vultures’

  • Cheap land no longer attainable in Edgewater – for now

    Peter Zalewski tackles reader questions and opinions about the SoFla market
    September 26, 2014 02:15PM
    Peter Zalewski

    Peter Zalewski

    Question: Developable land in the Edgewater neighborhood of Greater Downtown Miami continues to be traded at significant profits for the sellers. Do you think that market has maxed out in terms of land appreciation, or will it be a while before the pricing of land flattens or even reverses course?

    The days of purchasing cheap land for vertical condo developments in the suddenly hot Edgewater neighborhood located east of Biscayne Boulevard between Northeast 17th Terrace and Northeast 36th Street have passed for the foreseeable future. [more]

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  • Developers propose 24 new condo towers in last month

    Project announcements ramp up in advance of South Florida's busy winter season
    September 23, 2014 11:15AM
    Miami skyline (inset: Peter Zalewski)

    Miami skyline (inset: Peter Zalewski)

    South Florida’s current condo boom is ramping up in preparation for the approaching winter buying season, when visitors from around the world have historically descended upon the tri-county region.

    In the last 30 days, developers have announced plans to build an additional 24 new towers with more than 3,200 units for sites east of I-95 in Miami-Dade, Broward and Palm Beach counties, according to the preconstruction condo projects website CraneSpotters.com. [more]

    5 Comments
  • Tri-county listings, pending sales rise for the week

    South Florida transactions increase by 331 over the past month
    September 23, 2014 10:30AM
    South Florida housing inventory (Credit: Condo Vultures)

    South Florida housing inventory (Credit: Condo Vultures)

    Active listings for housing inventory in the South Florida region increased last week to 42,411, according to weekly data from Condo Vultures. [more]

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  • Future of racino condo projects depends on Gulfstream Park

    Peter Zalewski tackles reader questions and opinions about the SoFla market
    September 19, 2014 12:20PM
    Peter Zalewski

    Peter Zalewski

    Question: What do you think about the viability of “casino-condos” like Stronach Group’s planned condo project at Gulfstream Park? Does the proximity to gambling make a difference with buyers?

    The owners of South Florida’s eight pari-mutuels – or racinos – that offer gambling options for wagering on races, slot machines or poker are constantly searching for ways to utilize their large land holdings in attempt to improve their bottom lines. [more]

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  • Centro is fourth condo tower without parking in Greater Downtown Miami

    Peter Zalewski tackles reader questions and opinions about the SoFla market
    September 12, 2014 11:15AM
    Peter Zalewski

    Peter Zalewski

    Question: Will the planned Centro condo project with more than 350 units and only a handful of parking spaces lead to more residential towers being proposed without adequate parking in Greater Downtown Miami?

    The planned Centro condo tower being constructed by Newgard Development Group in the 100 block of Southeast First Street in the Central Business District of Greater Downtown Miami is not unique. [more]

    5 Comments
  • South Florida listings, pending sales rise for the week

    Tri-county area had decline in transactions over the last month, however
    September 09, 2014 11:15AM
    South Florida housing inventory (Credit: Condo Vultures)

    South Florida housing inventory (Credit: Condo Vultures)

    Active listings for housing inventory in the South Florida region increased last week to 42,089, according to weekly data from Condo Vultures. [more]

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  • Assessing the real estate impact of David Beckham’s proposed soccer stadium

    Peter Zalewski tackles reader questions and opinions about the SoFla market
    September 05, 2014 12:45PM
    Peter Zalewski

    Peter Zalewski

    Question: Marlins Park is having little to no impact on the surrounding neighborhood’s residential real estate market, as you’ve noted before. Is it simply impossible for a sports venue to stimulate a real estate market? I ask with international soccer legend David Beckham’s stadium pursuit in mind.

    Economic redevelopment was a key lobbying point for the Miami Marlins in the lead-up to winning political support to build a new stadium in the economically depressed Little Havana neighborhood using funds primarily provided in the form of financing from Miami-Dade County and the City of Miami. [more]

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  • South Florida has smaller foreclosure decline in August

    But tri-county area's year-to-date drop from 2013 remains significant
    September 02, 2014 10:30AM
    Latest foreclosure report from Condo Vultures

    Latest foreclosure report from Condo Vultures

    South Florida foreclosures continued to decline last month, according to the latest report from Condo Vultures. [more]

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  • Condo construction financing spigot opens in South Florida

    Peter Zalewski tackles reader questions and opinions about the SoFla market
    August 29, 2014 01:30PM
    Peter Zalewski

    Peter Zalewski

    Question: You previously mentioned an increase in preconstruction lending is occurring for high-profile South Florida condo projects like the Surf Club Four Seasons Private Residences in Surfside. Since then, it was reported that the Blackstone Group is also funding the planned Biscayne Beach condo tower with a $120 million loan in the Edgewater area of Greater Downtown Miami. Is this the beginning of a wave of large preconstruction loans for South Florida condo developments?

    Lenders have been expressing privately for months that the condo construction financing spigot for new South Florida towers would begin to open in the second half of this year. [more]

    1 Comment
  • South Florida listings slip, pending sales rise for the week

    Tri-county area had decline in transactions over the last month, however
    August 26, 2014 01:30PM
    South Florida housing inventory (Credit: Condo Vultures)

    South Florida housing inventory (Credit: Condo Vultures)

    Active listings for housing inventory in the South Florida region dipped last week to 42,217, according to weekly data from Condo Vultures. [more]

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