The Real Deal Miami

  • Palm Beach County to launch electronic filing system

    Filing housing documents online should speed closings
    October 22, 2014 03:45PM
    Palm Beach County Clerk Sharon Bock

    Palm Beach Clerk Sharon Bock

    The Palm Beach County Courthouse is introducing a new electronic filing system that will speed closings and save taxpayers money.

    On Thursday, the county is implementing eRecording, a system that allows real estate professionals to send documents electronically, instead of by mail or in person, according to the Sun-Sentinel. In addition to ending courier fees, the new system will lower closing costs – and speed closings up. [more]

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  • Local chef buys building for $10M

    Momi Ramen’s Jeffrey Chen buys three-story structure
    October 22, 2014 03:00PM
    Momi Ramen

    Momi Ramen

    An office building in Edgewater changed hands for $10 million, going to a company run by a chef and restaurant owner.

    The buyer, 225 District, is managed in part by Jeffrey Chen, owner and chef at Momi Ramen in Brickell. A.A. Holdings, a Minneapolis-based company, sold the 52,499-square-foot building at 3414 Northeast Second Avenue, according to the South Florida Business Journal. [more]

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  • Home prices stall in Palm Beach, Broward

    September prices flatline, but sales improve
    October 22, 2014 02:15PM
    A Palm Beach home up for sale

    A Palm Beach home up for sale

    Analysts are downplaying the weak performance of home prices in Palm Beach and Broward counties for the month of September.

    In a report in the Sun-Sentinel, Broward’s median price for existing homes was $270,000, which is flat from the previous year and hitting the lowest mark since March. September also marks the first time since October 2011 that Broward’s median failed to increase on an annual basis. [more]

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  • alternate<br /></a>text
    Bayside Marketplace

    New York’s Crown Acquisitions could have interest in Miami-Dade Courthouse site. Delray Beach townhome community purchased for $30M. Downtown’s Bayside Marketplace to get overhaul in 2015. Read those stories and more after the jump.

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  • Inside therealdeal.com

  • Brickell hotel lands $41M construction loan

    The project is first location in U.S. for Chilean builder
    October 22, 2014 01:30PM
    Atton Brickell Hotel rendering

    Atton Brickell Hotel rendering

    A Chilean hotel builder received a large construction loan for its first project in the U.S., to be located near Brickell Avenue.  [more]

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  • Palm Beach County approves funding for new stadium

    Location and how to pay for it to be determined
    October 22, 2014 12:45PM
    The Washington Nationals training

    The Washington Nationals training

    Palm Beach County officials agreed to fund construction of a new baseball stadium, but where that stadium will be located remains a mystery.

    On Tuesday, county commissioners voted 5-2 to spend $135 million to build a new stadium. Both the Houston Astros and Washington Nationals have signaled their interest in moving here if they have a new baseball stadium and training facility to use, according to a report in the Sun-Sentinel. [more]

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  • Wellington nursing facility trades in sale-leaseback deal

    New York REIT pays $41 million for NuVista Living community
    October 22, 2014 12:30PM
    NuVista Living at Wellington Green

    NuVista Living at Wellington Green

    The NuVista Living at Wellington Green community in Palm Beach County changed hands for about $41 million in a sale-leaseback.

    A New York company tied to American Realty Capital Healthcare Trust acquired the 10330 NuVista Avenue facility in a transaction recorded on Wednesday, according to Palm Beach County records. The real estate investment trust already owns the Aventura Medical Plaza. No financing was recorded. [more]

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  • Foreclosures still linger

    Despite robust market, plenty of distressed properties remain throughout region
    October 22, 2014 12:00PM By Erik Bojnansky
    From left:

    From left: Daren Blomquist of RealtyTrac, the Shoppes of Wellington Green in Palm Beach and Bilzin Sumberg’s Jon Chassen

    From the South Florida Market Report: Beyond South Florida’s seemingly endless parade of construction cranes is a wide array of distressed houses and condominiums. [more]

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  • $124M mortgage given to Echo Brickell developer

    Property Markets Group plans to start construction of condo tower by month's end
    October 22, 2014 11:15AM
    From left: Property Markets Group’s Ryan Shear, architect Carlos Ott and Property Markets Group’s Kevin Maloney

    From left: Property Markets Group’s Ryan Shear, architect Carlos Ott and Property Markets Group’s Kevin Maloney

    Developer Property Markets Group obtained nearly $124 million in construction financing for Echo Brickell and plans to start construction on the 180-unit tower by the end of October. [more]

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  • Midtown 5 nabs $80M construction loan

    Chicago developer gets financing from group of lenders for rental tower
    October 22, 2014 10:30AM By Eric Kalis
    Midtown 5 rendering

    Midtown 5 rendering

    A Chicago developer received an $80 million construction loan for a luxury rental apartment project in Midtown Miami, The Real Deal has learned.

    Miami Midtown Owner LLC, which shares a Chicago address with Magellan Development Group, obtained the financing from a group of lenders managed by TD Bank, according to Miami-Dade County records. The transaction was recorded on Friday. The company also took title to the 3201 Northeast First Avenue project site in a $14 million deal. [more]

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