South Florida roundup

Snapshots of real estate news from the Sunshine State

Peter Fine Spec Home
A rendering of 6440 North Bay Road

Fine spec home asks $30M

New York real estate tycoon Peter Fine’s first spec home in Miami Beach is set to hit the market, asking $30.5 million, The Real Deal has learned.

The 15,000-square-foot mansion, at 6440 North Bay Road, will be listed by Darin Tansey of the Tansey Group at Douglas Elliman, said Josh Young, vice president of Fine’s To Better Days Development.

The seven-bedroom, eight-bath estate is under construction, with completion expected in November. It will have a 2,500-square-foot roof deck, an expandable garage for up to six cars, 12-foot tall sliding glass walls and 100 feet of frontage on Biscayne Bay.

Fine launched To Better Days earlier this year, with plans to develop ultra-luxury waterfront mansions on ritzy North Bay Road and on Miami Beach’s Palm Island.

So far, the firm purchased four sites in Miami Beach, including 6010 North Bay Road, a formerly unbuilt lot where construction started on another home, with completion expected next year; 158 Palm Island and 6342 North Bay Road, bought in May for $9.5 million.

Fine has a long history in real estate development and management in the New York area. He developed about 9,000 multifamily units over 20 years, mostly under the banner of the Atlantic Development Group, where he is CEO. The company’s holdings also include 300,000 square feet of retail space in New York City.

A rendering of Brickell City Cente

A rendering of Brickell City Centre

City Centre adds luxury brands

Brickell City Centre has added a series of luxury brands to its retail lineup.

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The project’s developer, Swire Properties, and retail co-developers Whitman Family Development and Simon Property Group, announced last month that Valentino and Chopard will be among the luxury boutiques in the mall portion of the $1.05 billion mixed-use development.

The Italian fashion house and Swiss watch and jewelry designer will join anchor tenant Saks Fifth Avenue in Brickell City Centre’s 500,000-square-foot shopping center when it opens in fall 2016.

Also on tap are U.S.-based footwear and accessories maker Cole Haan, Canadian yoga and athletic apparel retailer lululemon, Italian sunglass retailer Illesteva, Italian casualwear brand Harmont & Blaine and Colombian swimwear designer OndadeMar, the developers said.

The space will also host a mix of fine dining, casual fare and new international food purveyors.

Brickell City Centre’s two condominium towers, two office buildings and its EAST Miami Hotel will accompany the shopping center. The mixed-use project’s condo, office, and hotel components are set to start opening at the end of the year. Condos in the towers are listed from $550,000 to $2.7 million.

Brazilian flag

Brazilian flag

Brazil tops SoFla searches

For the 12th consecutive month, Brazil was the No. 1 foreign country dominating searches for South Florida real estate online in May, according to the Miami Association of Realtors.

Over the past year and a half, Brazil has led the list for all but three months. Colombia, Canada, Venezuela and Argentina made up the rest of the top five for May.

In 2014, Brazilians registered 11 percent of all South Florida international real estate deals. They spend the most on South Florida properties among foreign buyers, paying an average of $495,000, compared with $444,000 for all international buyers.