The Real Deal Miami

South Florida real estate in brief

May 29, 2009 04:33PM

Coastal prices dive
South Florida coastal residences have seen their prices fall an average of 42.4 percent from their peaks, according to a report from real estate consultancy Condo Vultures. Prices fell by an average of $277,199 through the end of April, with single-family homes falling $419,956, or 43 percent, from their peak, and condos and townhouses falling $220,192, or 42.1 percent.

Terranova places boutique at Kendall Mall
M-M Couture, a clothing and accessories boutique, will be coming to Kendall Mall, at 8831 SW 107th Avenue, June 6, according to a press release from Terranova Corporation, which brokered the lease. The store will occupy 464 square feet.

Falcon forms opportunity fund
Falcon Real Estate Investment Company, a commercial real estate investment company, has launched several sub-funds, according to a press release from the company. The Falcon U.S. Opportunity Fund will focus on commercial properties available over the next year and hopes for a rate of return of 20 percent per year over a five-year investment period. “We have begun to see some excellent investment opportunities for investors who have strong cash positions or have back-up financing,” said Howard Hallengren, chairman of Falcon. TRD