The jury concluded that Lennar was the victim of defamation and extortion by developer Nicolas Marsch III and Briarwood Capital, Daily Business Review reported. Lennar and Marsch had originally partnered to develop a private golf community in Rancho Sante Fe, Calif. The dispute between the parties began in 2006. [more]
Jury concludes Miami homebuilder victim of extortion, defamationDecember 04, 2013 12:45PM
December 04, 2013 12:00PM
Residents of an island off Aventura have filed a lawsuit against the developer of the planned two-tower Privé project.
The Island Estates residents are suing to prevent Gary Cohen, who also developed their luxury community, and his partners from building Privé, the Miami Herald reported. Plans for Privé call for twin 16-story condo towers with 160 units and about 600 parking spaces. The seven-acre project site is considered the last vacant island with residential development potential in South Florida. [more]
Discount grocer to open new store on Dec. 19December 04, 2013 11:15AM
Aldi is opening a new store in Fort Lauderdale.
The German discount grocery chain is scheduled to open its first Fort Lauderdale grocery at 1707 East Commercial Boulevard on Dec. 19, the Sun-Sentinel reported. Aldi has seven additional locations in Broward and Palm Beach. It first came to South Florida in 2010. [more]Annual event rife with potential residential buyersDecember 04, 2013 10:30AM By Eric Kalis
Art Basel Miami Beach does not officially start until tomorrow, but Zilbert International Realty broker Jeffrey M. Miller is already working the event circuit to generate sales activity. [more]
Inside therealdeal.comEsperante Corporate Center acquired by Crocker, Cornerstone ventureDecember 04, 2013 09:45AM
The $71 million sale of trophy downtown West Palm Beach office building Esperante Corporate Center has closed, The Real Deal has learned.
CREF Esperante acquired the 17-story building at 222 Lakeview Avenue, according to Palm Beach County records. The transaction closed on Nov. 26. It was recorded by the county on Monday.
No financing was recorded. [more]December 04, 2013 09:00AMCondo at Santa Maria features 10-foot glass walls, four parking spotsDecember 03, 2013 05:15PM
Today’s priciest new listing is a five-bedroom, six-bathroom condominium at Santa Maria asking $7.5 million. [more]December 03, 2013 04:30PM
Fortune International Realty’s Edgardo Defortuna is in talks to team up with a broker who represents largely Chinese and Japanese real estate buyers, in an effort to draw them to Miami, Daily Business Review reported.
Asian buyers are “the next wave of potential customers” in the market there, Defortuna said. Also, design and aesthetics, he said, are often key in persuading them to invest. Eddy Martinez of Worldwide Properties recently attended a luxury goods exhibition in Shanghai, while the Miami Association of Realtors traveled to several property shows throughout China. [more]December 03, 2013 03:45PM
From the New York site: A number of the big banks will defy the tighter lending standards that are set to kick in next month, and will offer loans that don’t meet the definition of a qualified mortgage, a new designation intended to show that borrowers can afford their mortgages.
Wells Fargo executives said that the bank would make some loans that don’t meet the qualified mortgage standards. Their statements were echoed by representatives of JPMorgan Chase, Bank of America and Citigroup. [more]December 03, 2013 03:00PM
The Federal Aviation Administration is likely to approve the $110 million Schlitterbahn Waterpark Fort Lauderdale near the airport, the Sun-Sentinel reported.
Fort Lauderdale officials are close to finalizing a rental agreement with the FAA. In October, the city proposed that the park would pay $810,000 in rental fees per year and oversee maintenance of the property. If the FAA signs off, the park can proceed with seeking a final round of local approvals and break ground on the site in the next few years. [more]