The Real Deal Miami

Posts Tagged ‘Miami’

  • Miami housing costs soar past affordability threshold

    Costs now consume 43 percent of a typical household's income
    April 15, 2014 05:15PM
    From left: Spencer Rascoff, chief executive of Zillow and downtown Miami (Credit: Shutterstock)

    From left: Spencer Rascoff, chief executive of Zillow and Downtown Miami (Credit: Shutterstock)

    Miami rents have climbed high enough to consume 43 percent of the typical household income, according to a new analysis by real estate website Zillow. [more]

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  • Clinton Portis avoids foreclosure, sells condo

    Former NFL star unloads Miami apartment at 35 percent profit
    April 11, 2014 04:30PM
    From left: Clinton Portis 1227 Brickell Avenue

    From left: Clinton Portis and 1227 Brickell Avenue

    Former Redskins and Broncos running back Clinton Portis dodged foreclosure by selling his distressed Miami pad for $900,000 — enough to cover the loan and then some.

    Portis’ condominium in Bristol Tower at 2127 Brickell Avenue, which he reportedly nabbed for $665,000 in 2004, recently sold to 2127 Brickell Property, a company managed by Paulo Diaz. [more]

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  • Miami multifamily owner gets $31M refinancing

    California lender provides 10-year loan for River Oaks Apartments
    March 14, 2014 09:45AM
    River Oaks Apartments (via CBRE)

    River Oaks Apartments (via CBRE)

    The owner of the River Oaks Apartments in Miami has obtained a $31 million refinancing that allowed it to pay off its existing debt. [more]

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  • Best cities for startups? Miami makes the grade

    Four South Florida cities made it on WalletHub’s list
    March 13, 2014 01:00PM
    The Miami skyline

    The Miami skyline

    With more businesses relocating to Miami in search of tax breaks and a growing international economy, WalletHub has listed four South Florida cities on its 2014 list of best cities to start a business. [more]

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  • JPMorgan Chase settles insurance suit

    Lender agrees to $300M deal over forced-place claims
    March 03, 2014 12:45PM

    Gavel-new315-304A federal judge in Miami has approved a $300 million deal between JPMorgan Chase and 1.3 million homeowners to resolve claims of overcharging for forced-place insurance.

    Chief U.S. District Judge Federico Moreno authorized the settlement on Friday, Daily Business Review reported. The deal includes an additional $650 million of injunctive relief through policy changes to eliminate the forced-placed practice. The homeowners claimed Chase placed more than $2.3 billion in coverage between 2008 and the present. [more]

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  • Stalled Miami office project site sold to developer

    Buyer plans to reposition property as 153-unit residential tower
    February 20, 2014 12:00PM
    Rendering of Logik in Overtown

    Rendering of Logik in Overtown

    The site of a stalled office development near Miami’s Overtown area has been sold to a group that plans to reposition the property as residential. [more]

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  • Construction of Swerdlow’s retail project begins

    Work underway at Shoppes at Civica in Miami's Health District
    February 12, 2014 10:30AM
    Rendering of the Shoppes at Civica

    Rendering of the Shoppes at Civica

    Construction of the Swerdlow Group’s Shoppes at Civica in Miami’s Health District is underway. [more]

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  • Miami industrial complex sells for $38.5M

    Dallas partnership acquires sprawling property near Doral
    February 12, 2014 09:45AM
    8901 Northwest 33rd Street in Miami

    8901 Northwest 33rd Street in Miami

    A Miami industrial complex has changed hands for $38.5 million, The Real Deal has learned.

    Westpointe Operating Co., managed by Des Moines, Iowa-based Principal Real Estate Investors, sold the 8901 Northwest 33rd Street property last Friday, according to Miami-Dade County records. The county recorded the transaction Monday. [more]

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  • Developer hopes to expand boom to Little Havana

    Astor plans InTown condo project in Miami neighborhood
    January 27, 2014 01:30PM
    Peter Torres and rendering of InTown in Little Havana

    Peter Torres and rendering of InTown in Little Havana

    The Astor Cos. is hoping to lure young professionals priced out of trendier locales to Little Havana, a Miami neighborhood where other developers could not gain traction during the real estate bust. [more]

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  • SoFla rail project shuns public funding: OPINION

    Privately-funded train service would be nation's first in 43 years
    January 20, 2014 01:30PM
    Rendering of an All Aboard Florida train arriving into the station

    Rendering of an All Aboard Florida train arriving into the station

    All Aboard Florida’s high-speed train is still afloat, largely due to the fact that it is not reliant on government funding, columnist Holman Jenkins wrote in a Wall Street Journal op-ed. [more]

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