The Real Deal Miami

  • mapRendering of the restaurant space at 1428 Brickell Avenue

    Brickell Avenue could be getting a brand new restaurant building with a chic modern look. The owner of Donald Trump’s former Palm Beach mega-mansion is also one of Russia’s wealthiest billionaire bachelors. And Little Haiti has been locked into a battle between developers and historians, each trying to lobby for their vision of the neighborhood. Read these stories and more after the jump. … [more]

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  • Miami-Dade retail market softens, while Broward and Palm Beach thrive

    Retail markets in Broward and Palm Beach continue tightening
    July 26, 2016 05:30PM By Sean Stewart-Muniz
    Brickell City Center

    Brickell City Centre

    With the stunning transformation of Wynwood and the Design District in recent years, it’s easy to believe that Miami’s retail market is only headed up.

    But a new second quarter report from commercial brokers Colliers International shows there’s softness to be found in the Magic City’s retail sector.

    Meanwhile, Broward and Palm Beach counties enjoyed another healthy quarter of growing rents and tenant demand. [more]

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  • Coral Gables approves mixed-use Gables Station along U.S. 1

    Plans for the 4.3-acre site include luxury apartments, retail, parking, hotel and public space
    July 26, 2016 04:47PM By Katherine Kallergis
    Renderings of Gables Station

    Renderings of Gables Station

    The Coral Gables City Commission approved plans on Tuesday for a mixed-use project that aims to transform a corner of South Dixie Highway. [more]

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  • Moishe Mana says he’ll give $1M to charity if Trump reveals his tax returns

    Returns would shed light on Trump's business practices and true net worth
    July 26, 2016 03:50PM
    Moishe Mana, left, and Donald Trump (Credit: Michael Vadon)

    Moishe Mana, left, and Donald Trump (Credit: Michael Vadon)

    Moishe Mana has officially thrown his hat into the ring of high-profile business leaders touting #NeverTrump. [more]

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  • Inside therealdeal.com

  • On the scene at Estates at Acqualina’s sales center bash: PHOTOS

    Jules Trump and his wife Stephanie will move into the model unit after the tower is completed
    July 26, 2016 03:00PM
    porscheDeveloper Jules Trump and George Mato, vice president of sales at the Ritz-Carlton Residences Miami Beach

    The Trump Group, led by developers Jules and Eddie Trump, hosted a launch party for its $10 million Estates at Acqualina sales gallery. … [more]

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  • Here’s some food for thought: restaurants are outselling supermarkets

    And now landlords are scrambling to attract trendy eateries nationwide
    July 26, 2016 02:15PM
    Smorgasburg

    Smorgasburg

    From the New York website: Looks like it’s not just Miamians and New Yorkers who are eating out a lot. Restaurant sales have surpassed supermarket sales nationwide for the first time in nearly two decades — and landlords are making changes. [more]

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  • For US homeowners, it pays to track equity

    There's the knowledge gap about equity-tapping tools and uses
    July 26, 2016 01:30PM By Kenneth Harney
    equity

    (credit: Lexi Pilgrim)

    Are millions of homeowners sitting on much bigger equity nest eggs than they think? Do you know how much equity you’ve got? If not, could you be missing opportunities to tap into it for worthwhile projects at close to all-time low interest rates?

    Academic and financial industry research suggests that large numbers of Americans don’t keep track of their equity and don’t really know how they could use it. That’s curious because home equity has almost never been higher or easier to access. [more]

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  • South Florida home prices continue to slump in May

    Portland maintained its lead as market with nation's highest appreciation
    July 26, 2016 12:45PM
    Miami Skyline

    Miami skyline

    A chill is in the air for South Florida’s housing market, which is starting to see price growth level out after years of exploding values.

    The latest report from S&P Dow Jones Indices shows South Florida’s home prices rose moderately in May, though it was still one of the nation’s top 10 markets for swelling housing costs. [more]

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  • RedSky buys Esperanté office tower in West Palm: $126M

    Cornerstone Real Estate Advisers and Crocker Partners paid $71M for building in 2013
    July 26, 2016 12:00PM By Katherine Kallergis
    Esperante Office Tower

    Esperante Office Tower

    Brooklyn-based RedSky Capital just made a big office buy in West Palm Beach: RedSky paid $125.75 million for the Esperanté Corporate Center, records show.

    Cornerstone Real Estate Advisers and Crocker Partners sold the 20-story, 256,100-square-foot building at 222 Lakeview Avenue. They paid $71 million for the property in 2013, which at the time was 60 percent occupied. Now, it’s 98 percent leased, according to a press release.

    CBRE’s Capital Markets Vice Chairman Chris Lee, Vice President Jose Lobon and Financial Analyst Andrew Chilgren; and CBRE Debt & Structured Finance Vice President Amy Julian arranged the deal.

    Esperanté marks the first South Florida office asset for RedSky, which has spent more than $500 million in the Miami neighborhoods of Wynwood and the Design District, as well as West Palm Beach.  [more]

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  • Auto magnates Rick and Rita Case sell their Hillsboro Beach estate: $6.5M

    Rick Case Automotive Group operates 16 dealerships in South Florida, Atlanta and Ohio
    July 26, 2016 11:15AM By Katherine Kallergis
    949 Hillsboro Mile and Rita and Rick Case

    949 Hillsboro Mile and Rita and Rick Case

    South Florida auto magnates Rick Case and his wife Rita have sold their waterfront Hillsboro Beach estate for $6.5 million. [more]

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