The Real Deal Miami

Posts Tagged ‘apartment market’

  • Go inside NYC’s most expensive rental

    It will set you back $500,000 a month
    March 12, 2016 04:00PM
    The Pierre

    The Pierre

    From the New York website: The Pierre, a legendary hotel in New York, is home to one of the city’s most dubious distinctions. The entire 39th floor of the 41-floor hotel overlooking Central Park is being offered as a rental for $500,000 a month, making it the city’s priciest rental listing. [more]

  • Broward, Palm Beach apartment rents on rise

    Counties ranked 12th and 13th nationally in percentage of rate growth
    July 10, 2014 12:00PM
    Jay Parsons

    Jay Parsons

    Broward and Palm Beach counties are enjoying a surge in apartment rents, as demand from young professionals and onetime homeowners continues to rise.

    The average monthly rental rate in Broward reached $1,283 at the end of the second quarter of 2014, according to Texas-based MPF Research. That represents a 4.5 percent year-over-year gain. Broward ranked 12th out of the 100 largest U.S. metro areas in percentage of rent growth. [more]

  • Rental construction surges in Broward County

    More than 15,000 apartments in pipeline as rents, jobs increase
    January 30, 2014 11:15AM

    ConstructionBroward County is experiencing a surge in rental apartment construction.

    More than 15,000 apartments are under construction or in planning and permitting phases in Broward, Daily Business Review reported. About 4,000 units should be completed this year. Monthly rental rates in Broward are projected to rise by three percent to an average of $1,277 in 2014. [more]

  • Coconut Creek apartments sell for $24.5M

    New owner could rebrand waterfront community
    January 15, 2014 11:15AM
    Waterview at Coconut Creek

    Waterview at Coconut Creek

    A waterfront apartment community in Coconut Creek has traded for $24.5 million, The Real Deal has learned.

    Waterview Apartments of San Diego sold the 192-unit complex at 3621 Hillsboro Boulevard on Tuesday, according to Broward County records. The community was built in 1987 on more than 20 acres. [more]

  • Rental tower planned for Miami’s Omni area

    Proposed project, 17 Edgewater, would have 240 apartments
    November 25, 2013 01:30PM
    Miami's Omni area

    Miami’s Omni area

    A Miami investment company plans a luxury rental tower on an 11-property site it recently assembled in the city’s Omni area.

    The company, 17 St Partners, wants to build a 240-unit apartment building called 17 Edgewater on the nearly one-acre site, Daily Business Review reported. Developer Mark Kreisler and partners David Kreps and Jean Noel Grinda are behind the venture. They assembled the properties in September and October. [more]

  • Miramar apartment complex sells for $70M

    California investor buys sprawling rental community
    November 25, 2013 09:45AM
    IMT Miramar

    IMT Miramar

    A sprawling Miramar apartment complex has traded for $70 million, The Real Deal has learned.

    Red Road Residences, a company connected to Mill Creek Residential Trust, sold the former Modera Miramar community at 11338 SW 45th Place on Friday, according to Broward County records. The Mill Creek company completed the 349-unit luxury complex, which includes 116 townhomes, on 21 acres last year. It sold the community for about $200,000 per square foot. [more]

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  • Miami apartment complex trades for $75M

    November 22, 2013 10:30AM
    Terrazas River Park Village

    Terrazas River Park Village

    A luxury apartment complex in Miami has sold for more than $75 million. [more]

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  • Miami apartment sector overcomes tepid job growth

    Rental market outperforms most of nation in quarterly report
    November 07, 2013 01:00PM

    up arrow

    Buoyed by surging rents and strong occupancy, the Miami-Dade County apartment market remains one of the nation’s best, according to a new market report released today by brokerage Marcus & Millichap Real Estate Services.

    In a sign of continued demand for rental housing, county apartment landlords have enjoyed an increase in occupied units of 1,700 through the third quarter of 2013. That boost came despite a paucity of new jobs created. [more]

  • A recovering job market is helping the West Palm Beach apartment market show signs of life, with the area’s vacancy rate continuing to drop, according to Marcus & Millichap. West Palm Beach’s rents also rose for the ninth consecutive quarter, as an expanding number of property owners are successfully imposing higher rents as lease roll over. [more]

  • Miami continues to be the strongest apartment market in South Florida, according to a second-quarter report from Marcus & Millichap. With plummeting vacancies and the “gradual restoration of rents to former peaks,” Miami-Dade County is leading the tri-county area, in large part due to increased tenant demand. Further expansion in service employment will help lead to a projected 60-basis-point decline in the vacancy rate this year to 4.1 percent. [more]