Bridge Investment picks up downtown Miami’s Museum Tower for $65M, giant wheel coming to Miami’s Bayside Marketplace: Daily digest

A daily roundup of South Florida real estate news, deals and more for Oct. 25, 2019

TRD MIAMI /
Oct.October 25, 2019 05:30 PM

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 5:30 p.m.

 
150 West Flagler Street, Robert Morse, executive chairman of Bridge Investment (Credit: Google Maps and Getty Images)

150 West Flagler Street, Robert Morse, executive chairman of Bridge Investment (Credit: Google Maps and Getty Images)

Bridge Investment picks up downtown Miami’s Museum Tower for $65M. Bridge Investment Group paid $64.6 million for downtown Miami’s Museum Tower, marking the company’s fourth office acquisition in South Florida this year. [TRD]

 

Giant wheel coming to Miami’s Bayside Marketplace. Coming soon to Bayside Marketplace: a giant observation wheel. Miami commissioners on Thursday endorsed a revenue-sharing deal and height variance that will enable Sky Views of America to build a 190-foot-tall wheel on city-owned land that’s now controlled by Ashkenazy Acquisitions and General Growth Properties, the owners of Bayside Marketplace. [TRD]

 

The Conrad Brickell is planning a $10 million renovation. For the project, Mast Capital tapped NYC-based design firm Champalimaud Design to improve public spaces and amenities, meeting spaces, corridors and guestrooms. The hotel is also getting a new restaurant brought by Chef Pablo Lamon, called Nativo Kitchen + Bar (NKB), according to a release.

 
Rendering of Urbin Coconut Grove and Rishi Kapoor

Rendering of Urbin Coconut Grove and Rishi Kapoor

Co-living venture Urbin expanding to Miami Beach. Developer Rishi Kapoor is betting on co-living, starting with three projects in Miami-Dade. Kapoor, CEO of Location Ventures, is moving forward with a $50 million co-living project at 1234 to 1260 Washington Avenue, now that the Miami Beach City Commission passed co-living legislation for a portion of Washington Avenue from Sixth to 16th streets. [TRD]

 

Hedge funder set to buy Sydell Miller’s Palm Beach estate for $200M. Hedge funder Steven Schonfeld is reportedly under contract to buy Sydell Miller’s Palm Beach oceanfront estate for close to $200 million, breaking the record for the most expensive home sale in the ritzy enclave. [TRD]

 

Trump International Hotel in Washington D.C. and President Donald Trump (Credit: Getty Images, iStock)

Trump Organization might sell its controversial Washington D.C. hotel. The Trump Organization may sell its Trump International Hotel in Washington D.C., following years of criticism that the family is disregarding ethics laws by continuing to profit from it during Donald Trump’s presidency. [TRD]

 

Miami-Dade County will not review the ethics of a nearly $5 million county subsidy for a steel mill proposed by Mayor Carlos Gimenez’s son. Rep. Bryan Avila, R-Miami Springs, asked the county to review the ethical rules for the county’s approval of subsidies for a proposed steel mill partially owned by Julio Gimenez, according to the Miami Herald. [Miami Herald]

 

Wynwood business owners are seeking to get a Tri-Rail station in the neighborhood. A new set of drawings commissioned by property owner Bill Rammos would have a station between Northwest 25th and 27th streets, according to the Miami Herald. [Miami Herald]

 

New Aquarius Corp. sold a 200-unit mobile home park in Homestead for $22 million. A company tied to Bradley Dressler of Stuart, Florida bought the mobile home community at 451 Southeast 8th Street for $110,000 per home site. New Aquaris Corp., led by Margitta Di Gennaro of Key Colony Beach, Florida, sold the property. [TRD]

 

Compiled by Keith Larsen


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