The Real Deal Miami

  • Fort Lauderdale Beach investors add to commercial portfolio with $32M deal

    Buyer said 300,000 sf mixed-use project can be developed on the site
    April 28, 2017 05:30PM By Katherine Kallergis

    201 South Fort Lauderdale Beach Boulevard

    Fort Lauderdale investors Aiton “AJ” Yaari and Lior Avidor paid $32 million for an assemblage of properties on Fort Lauderdale Beach Boulevard, property records show.  [more]

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  • Everything you need to know about Beyoncé and Jay Z’s prospective new home

    Why they’re crazy in love with 454 Cuesta -- to the tune of $120M
    April 28, 2017 05:00PM By Cathaleen Chen

    Jay-Z, Beyoncé, and a rendering of 454 Cuesta Way (Credit: Getty, McKillen Developments)

    From TRD Los Angeles: Third time’s the charm, right?

    Either way, don’t hold your breath: Beyoncé and Jay Z may have made a $120 million offer on a spec home in Bel Air — their third reported offer on a Los Angeles home since 2014 — but the deal is far from sealed.

    In fact, the home at 454 Cuesta Way, which was listed at $135 million, has not yet been completed, said Jeff Hyland of Hilton & Hyland, the brokerage that holds the listing. [more]

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  • French hotelier sells Hotel St. Augustine in South Beach with expansion plans for $9M

    Property hit the market last year for $13.9M, which means it sold for 35% reduction
    April 28, 2017 04:00PM By Katherine Kallergis

    Hotel St Augustine. Inset: broker Susan Gale and buyer Jesper Arnoldsson

    A French hotelier just sold a boutique hotel in Miami Beach’s South-of-Fifth neighborhood to a Miami-based hospitality firm for $9 million, agent Susan Gale told The Real Deal. [more]

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  • Brazilian buyer nabs Golden Beach home on the Intracoastal for $6.25M

    Broker calls sale price the highest in Golden Beach on the Intracoastal or canal in four years
    April 28, 2017 03:10PM By Ina Cordle

    572 North Island Drive in Golden Beach and Alexander Goldstein

    A Brazilian buyer just paid $6.25 million for a home on the Intracoastal Waterway in Golden Beach, dubbed “Villa D’Amore,” The Real Deal has learned. [more]

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  • Lamar Odom lists Pinecrest mansion for $5.2M

    Fellow baskeball players Penny Hardaway and Tyler Johnson own homes in Pinecrest
    April 28, 2017 01:30PM By Katherine Kallergis

    9401 Southwest 63rd Court. Inset: Lamar Odom (Credit: Bridget Samuels)

    Lamar Odom is no longer interested in keeping up with his Miami home. [more]

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  • City Furniture signs as flagship tenant for District 36

    Lease is for 28,000 sf of project's total 63k sf of commercial space plus 195 apartments
    April 28, 2017 12:30PM

    Rendering of District 36, Irma Figueroa and Michael Comras

    City Furniture just signed a lease as the flagship retail tenant at District 36, the new mixed-use project on the edge of Midtown Miami and the Design District. [more]

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  • Publix buys West Miami store from Brandon Partners for $23M

    Brandon Partners completed the three-story Publix with a garage in 2016
    April 28, 2017 11:45AM By Katherine Kallergis

    West Miami Publix. Inset: Publix CEO Todd Jones

    Publix just closed on the purchase of a new West Miami location for $23.2 million, according to data from Real Capital Analytics.  [more]

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  • South Florida construction starts post year-over-year declines in March

    Construction is down 18% year-over-year to $2.63B
    April 28, 2017 10:30AM By Katherine Kallergis

    Construction cranes

    Construction spending was down in South Florida during March and on a year-to-date basis, according to the latest Dodge Data & Analytics report.  [more]

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  • New House bill could boost construction lending

    Proposal seeks changes to HVCRE rules
    April 28, 2017 09:45AM By Konrad Putzier

    From left: Robert Pittenger and David Scott

    From TRD New York: When mortgage bankers complain about Obama-era financial regulations hurting the industry, they usually point to one obscure rule: High Volatility Commercial Real Estate, or HVCRE. Now, a new bipartisan House bill wants to overhaul the rule and make it easier for banks to fund development projects. [more]

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  • Home inspector

    Most home buyers and sellers don’t think much about what might derail their purchase or sale. But here’s a sobering fact: One of every 20 sales contracts blows up along the road to closing. And roughly one of every four runs into an issue that delays the scheduled settlement.

    These statistics come from new survey research conducted by economists at the National Association of Realtors, covering the period of December 2016 through February of this year. [more]

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