The Real Deal Miami

  • Israeli group wants $26M for portfolio of Broward rentals

    Asking price breaks down to $191,176 per home
    September 29, 2016 01:30PM By Sean Stewart-Muniz
    1640 Northwest 26th Terrace, one of the homes in the portfolio, and Calum Weaver

    1640 Northwest 26th Terrace, one of the homes in the portfolio, and Calum Weaver

    It’s no secret that the multifamily market in South Florida has been hot this year, with $4 billion worth of property trades in 2016’s first six months alone. But what about single-family rentals?

    One group of Israeli investors is hoping that the appetite for assets transfers to houses, as they’ve just listed 136 single-family homes in Broward County for $26 million. [more]

  • Number of US homes under contract fell 2.4% in August

    The fall puts pending homes sales at the lowest level since January
    September 29, 2016 12:45PM

    11932676106_930cd3ac17_bFrom the New York websitePending home sales fell 2.4 percent in the month of August and 0.2 percent year-over-year, more evidence that the housing market has lost steam in recent months.

    According to the National Association of Realtors, the pending home sales index dropped to 108.5 after a bounceback in July.

    Pending home sales reflect contracts — not closed sales — on existing homes and can potentially offer early indications of the housing market’s movement. The NAR considers 100 to be a sign of a healthy figure in the market. [more]

  • Mill Basin mansion at 2458 National Drive (credit: Corcoran Group)

    Mill Basin mansion at 2458 National Drive (credit: Corcoran Group)

    It looks like Miami, but its soul is pure Brooklyn. At one time, this “bonkers” estate was the most expensive home in Brooklyn, on sale for $30 million in 2013. [more]

  • Check out new renderings of Hyde Midtown

    77 percent of the project's 410 condo residences are presold
    September 29, 2016 11:15AM By Katherine Kallergis
    Hyde MidtownHyde Midtown, Carlos Rosso and Gil Dezer

    Now that vertical construction of Hyde Midtown has passed the 50 percent mark, developers are unveiling new renderings of the Midtown Miami condo project. … [more]

  • Inside

  • South Florida construction spending takes dive in August

    Rising construction costs are one reason why residential development is slowing
    September 29, 2016 10:30AM
    Construction cranes

    Construction cranes

    Spending on construction contracts in South Florida took a steep dive in August, according to a new report.

    And the cut may be deep enough to jeopardize the industry’s chances of topping 2015. [more]

  • Donald Trump’s fortune takes an $800M hit: Forbes

    His net worth fell to $3.7B, publication claims
    September 29, 2016 09:45AM
    Donald Trump

    Donald Trump

    From the New York website: Donald Trump’s net worth reportedly weighs in at $3.7 billion — $800 million less than the value of his fortune last year, according to Forbes. [more]

  • Sawgrass Mills to get new spots for dining, drinking  

    New tenants include Matchbox, mojitobar, Texas de Brazil and Yardhouse Brew Pub
    September 29, 2016 08:45AM By Mike Seemuth

    Sawgrass Mills and David Gott

    Sawgrass Mills, the mega-mall in Sunrise, is getting a new set of dining and drinking destinations, starting with the first Florida location of the Matchbox American Kitchen restaurant group, which has locations in four other states and in Washington, D.C. [more]

  • Most popular on The Real Deal

    September 29, 2016 07:30AM

    Current reader favorites:

    1. Jorge Pérez: Expect residential development in Miami to slow, not stop
    1. Rick Ross sells waterfront Fort Lauderdale mansion for $6M
    3. Fortune, Château close $212M loan for Ritz-Carlton Sunny Isles
    4. 170 condos at Valencia at Doral offered in bulk sale, could fetch more than $50M
    5. 400 Biscayne hits the market, could sell for north of $60M

  • map Mar-a-Lago and Donald Trump

    Presidential hopeful Donald Trump has unveiled the finances of his flashy Mar-a-Lago club as part of his legal battle with the Palm Beach International Airport. Miami-Dade County just identified the sites in Miami Beach where Zika-positive mosquitos were trapped. And one buyer, through a web of shell companies, just scooped up 13 condos in one of Brickell City Centre’s residential towers. Read these stories and more after the jump. … [more]

  • Ronny Finvarb’s new Miami Beach hotel to be a Kimpton

    Demolition of the Boston Market has begun, with groundbreaking of the hotel expected soon
    September 28, 2016 06:00PM By Ina Cordle

    Rendering of the Kimpton Hotel Palomar South Beach and Ronny Finvarb

    Ronny Finvarb, who is developing a new hotel on the former site of a Boston Market on Alton Road in Miami Beach has snagged Kimpton as the operating company. [more]