Miami-Dade judge strikes down Miami Beach short-term rental ban, Brookfield picks up more industrial properties, Daily digest

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Marcus Samuelsson and exterior shot of Red Rooster construction (Credit: Getty Images)

Marcus Samuelsson’s Red Rooster Overtown restaurant is almost ready. James Beard award-winning chef Marcus Samuelsson and his business partner Derek Fleming gave a sneak peak of his nearly completed Red Rooster Overtown restaurant. [TRD]

Brookfield picks up more industrial properties near MIA for $83M. Brookfield Property Group bought six industrial condos at 3400 Northwest 74th Avenue for $82.9 million from a Delaware company managed by Sebastian Guejman of Aventura. [TRD]

Miami Beach Mayor Dan Gelber and Natalie Nichols home at 1531 Stillwater Drive (Credit: Getty Images)

Miami-Dade judge strikes down Miami Beach short-term rental ban. In a major blow to Miami Beach’s crackdown on short-term rentals, Miami-Dade Circuit Court Judge Michael Hanzman granted summary judgment for Natalie Nichols, a real estate investor who sued the city last year over exorbitant fines approved by local elected officials. [TRD]

Blackstone had every reason to oppose the overhaul of New York state’s rent law in June. The private equity giant and its Canadian partner Ivanhoé Cambridge had poured more than $5 billion into buying and upgrading Stuyvesant Town–Peter Cooper Village — making them the largest owner of rent-stabilized apartments in the city, with 11,000-plus units, since 2015. [TRD]

North Miami approves mixed-use senior apartment development. More than three years in the making, a North Miami mixed-use development composed mostly of apartments for seniors, is moving forward. The North Miami City Council recently approved the $45 million development. Called Residences at NoMi, it will be built at 950 Northeast 124th Street on a 1.95-acre vacant site. [TRD]

Carnival Corp. unveils new design for its planned renovation at PortMiami. The company announced its design for the renovation and expansion of Terminal F after county commissioners voted to approve a $195 million terminal deal last month, according to the Miami Herald. The terminal will be large enough to hold Carnival’s largest ship. [Miami Herald]

Nuveen CEO Vijay Advani, Blackstone President & COO Jonathan Gray and one of the Texas properties

Blackstone sells off part of massive industrial portfolio. Blackstone unloaded a 100-building portfolio valued at $3 billion to Nuveen, the real estate investment arm of the Teachers Insurance and Annuity Association of America, Nuveen announced Monday. [TRD]

California plans to limit rent increases with new law. Gov. Gavin Newsom plans to sign a new law that will cap rent increases and is seeking to change zoning laws and increase construction in the state. The law limits annual rent increases at 5 percent, plus the rate of inflation, and makes it more difficult for landlords to evict people, according to the Wall Street Journal. [WSJ]

Sears moves forward with bankruptcy. Sears Holdings Corp. won court approval Monday for a Chapter 11 liquidation plan. The plan will make the company’s suppliers during the bankruptcy take delayed payments or take a discounted payoff, according to the Wall Street Journal. [WSJ]

Compiled by Keith Larsen