Lawsuit accuses Douglas Elliman’s Jay Parker of backing out of real estate commission agreement, Elysee Investments picks up Fort Lauderdale retail center: Daily digest

A daily round up of South Florida real estate news, deals and more for September 4, 2019

TRD MIAMI /
Sep.September 04, 2019 09:00 AM

Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to [email protected]

This page was last updated at 7:00 p.m.

Elysee Investments picks up Fort Lauderdale retail center for $16M.  A Miami Beach investment group led by Haim Yehezkel, Joseph Cohen and Roy Mussaffi of Miami Beach, bought the 38,334-square-foot property for $413 per square foot. Elysee Investments is actively buying and selling commercial properties in Miami-Dade County. [TRD]

 

Tennis stars serve up big real estate deals. Serena Williams scored her 100th career win at the U.S. Open on Tuesday night, but the 23-time Grand Slam champion has also served up some big real estate wins over the years. The tennis superstar isn’t the only star player on tour who has lobbed some of her millions at the luxury residential market. [TRD]

 

Douglas Elliman’s Jay Parker accused of backing out of commission agreement. Fort Lauderdale broker Howard Elfman is taking aim at Jay Parker, CEO of Douglas Elliman’s Florida brokerage, in a recently filed lawsuit against the real estate company. [TRD

 

Legislator seeks to push bill that prevents eviction during a state of emergency Florida Rep. Michael Grieco wants to pass a bill that would halt eviction proceedings during a state of emergency such as a hurricane. [TRD]

 

After backlash, WeWork added a woman to its board. The office-space provider’s parent company, the We Company, is adding Frances Frei to its board ahead of its public offering. Frei is a professor of technology and operations management at Harvard Business School, and has consulted for the We Company since March of this year. The company faced public scrutiny for revealing an all-male board in its S-1 filing with the U.S. Securities and Exchange Commission. [Reuters

 

 Foreign investors are fleeing the U.S. For the first time since 2013, overseas investors sold $13.4 billion in commercial real estate — more than they acquired last quarter. The trend comes as the U.S. bull market matures and uncertain geopolitics have diminished confidence in the local market. [WSJ

 

Contactually clients feel abandoned after Compass acquisition. The startup, which provides a customer relationship management tool, has recently told existing clients that it has limited ability to support them, as the majority of its resources have been diverted to building technology for Compass. [Inman

 

Hurricane Dorian spared South Florida but developers and contractors were not unscathed. Most general contractors are back to work, after securing and shutting down their job sites last week to prepare for Hurricane Dorian’s impact. While South Florida escaped the storm’s wrath, developers and contractors saw their costs rise as the days ticked by. [TRD]

 

Brickell House condo association scores $41 million verdict over failed parking garage. More than four years after unit owners at the Brickell House tower reported issues with a robotic car garage and sued the development group, a Miami-Dade County judge granted the substantial award. [TRD]

 

Hurricane Dorian brings storm surge to Florida. Hurricane Dorian is bringing tropical storm winds and several feet of storm surge as it moves away from the Sunshine State. The hurricane was about 95 miles east of Daytona Beach and 135 miles east-southeast of Jacksonville. It is currently a Category 2 storm with maximum sustained winds of 105 miles per hour, according to the National Hurricane Center’s Wednesday advisory at 8 a.m. [Miami Herald]

 

Linkpoint Properties pays $5 million for Pasteur Medical Center in Hialeah. Linkpoint Properties bought the Pasteur Medical Center in Hialeah for $4.7 million, as more investors seek out commercial properties in the burgeoning Miami-Dade city. Linkpoint, led by Camilo Niño, Ricardo Uribe and Alex Sanchez, bought the 10,662-square-foot medical center at 4440 West 16th Avenue for $440 per square foot. The seller is Orion Group Realty. [TRD]

 

Compiled by Keith Larsen


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