The Real Deal Miami

  • CRA hiring demands newest roadblock for Miami Worldcenter

    Developer pushing aggressively for approval of first phase
    December 18, 2014 02:15PM
    Miami Worldcenter first phase rendering

    Miami Worldcenter first phase rendering

    The mixed-use Miami Worldcenter project has reportedly met with some serious setbacks as of late.

    The project was hit with a surprise roadblock when officials made a demand on increased minority hiring a condition in negotiating a property tax rebate, according to a published report. [more]

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  • Two Coral Gables apartment buildings sold for $6M

    Properties sold for $232 per square foot
    December 18, 2014 01:30PM
    CBRE arranged the sale.

    CBRE arranged the sale.

    Two Coral Gables apartment buildings sold for $6 million.

    CBRE arranged the sale of both buildings, which had a combined 36 units. Sidonia LLC/Truenorth Santillane LLC by Fipro Holding LLC sold the properties for $166,667 per unit or $232 per square foot.

    Sidonia, located at 1206 Douglas Road, has 20 units. Santillane, located at 3, 11 and 15 Santillane Avenue and 910 Douglas Road, features 16 units, according to a news release. [more]

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  • Owner of Pompano Beach medical office building files for bankruptcy

    Estimated value of office building is $4.8M
    December 18, 2014 12:45PM
    Andrews Square Medical and Professional Building in Pompano Beach

    Andrews Square Medical and Professional Building in Pompano Beach

    The owner of a Pompano Beach medical office building filed for Chapter 11 on Dec. 10 to stop a foreclosure action.

    A foreclosure lawsuit was filed by 150 S. Andrews Acquisitions Group against Andrews Square Associates and Spectrum Health Solutions on Oct. 31, according to published reports. The company has $2.7 million in two mortgages with the lender, S. Andrews Acquisitions Group. [more]

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  • Dania Beach office park sold for $29M

    Buyer also purchased nearly 25 acres of commercial land nearby
    December 18, 2014 12:00PM By Katherine Kallergis
    5100 Northwest First Street, Dania Beach

    5100 Northwest First Street, Dania Beach

    Realty Income Corp. sold 41.7 acres in Dania Beach for $29 million on Dec. 11 to a company tied to New York-based Kimco Realty Corp., according to county records.

    The South Florida Business Journal reported that the site was part of a larger amusement park, but the roller coaster has been long shut down. [more]

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  • Inside therealdeal.com

  • No new stadium plans after officials won’t bend for Beckham

    Fails to score on three proposals
    December 18, 2014 11:15AM
    PortMiami and David Beckham

    PortMiami and David Beckham

    It appears David Beckham’s plans to bring a Major League Soccer franchise to Miami are on hold after several potential stadium sites were rejected by officials.

    The former Manchester United Star misfired on two sites when Miami-Dade commissioners refused to relocate a PortMiami fuel-spill facility in favor of a stadium, according to a published report. [more]

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  • Cuba-U.S. policy change could benefit Miami developers, builders

    South Florida economy will likely see lift in many sectors
    December 18, 2014 11:05AM
    obama-featured

    President Barack Obama

    The South Florida economy could benefit from the normalization of the relationship between the U.S. and Cuba that President Barack Obama announced this week.

    Industries that could — eventually — see an upside thanks to the newly established diplomatic relations between the countries include banking, shipping, trade, travel and real estate.
    [more]

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  • 3 Boca developments propose residential, commercial changes

    SBA Communications Corp., Peninsula Corporate Center, 950 Northwest Broken Sound Parkway
    December 18, 2014 09:45AM
    Peninsula Corporate Center in Boca Raton

    Peninsula Corporate Center in Boca Raton

    Three big Boca Raton developments — two residential and one commercial — have  been proposed so far this month.

    SBA Communications Corp., a public company, plans to expand its headquarters at 8051 Congress Avenue. The company bought the building for $22.7 million in 2013, according to published reports. [more]

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  • Most popular on The Real Deal

    December 18, 2014 09:00AM

    Current reader favorites:

    1. Miami Beach’s Deauville Condo-Hotel units to be terminated and sold
    2. WeWork now valued at $5B
    3. Starlite Motel near Brickell City Centre sells for $25M
    4. Matt Damon’s Miami Beach manse sold by “The Jills”
    5. Melo Group hits milestones on two downtown Miami towers 

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    Florida leads nation in mortgage fraud.

    Florida leads nation in mortgage fraud. Carnival Corp. names first woman president of Carnival Cruise Line. And mid-rise condos target historic block. Read those stories and more after the jump. [more]

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  • Matt Damon’s Miami Beach manse sold by “The Jills”

    Bought home in 2005 for $14.5M
    December 17, 2014 04:31PM
    6020 North Bay Road. Inset: Mat Damon

    6020 North Bay Road. Inset: Matt Damon

    Oscar-winner Matt Damon has finally sold his North Bay Road estate, which he listed for $19 million in 2013. [more]

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