Carl DeSantis buys Delray office building, Faena lists Miami Beach home: Daily digest

A daily roundup of South Florida real estate news, deals and more for Oct. 31, 2019

TRD MIAMI /
Oct.October 31, 2019 06:00 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 6 p.m.

 

Investor and hot sauce maker Carl DeSantis closed on an office building in Delray Beach. CDS Investments, led by Carl DeSantis and William Milmoe, paid $3.1 million for the 10,000-square-foot building at 401 West Linton Boulevard, according to brokers William Cunningham and Christopher McInnis of Park View Realty. They represented the buyer, while Marcus & Millichap represented the seller, Callisto Realty LLC. DeSantis, a real estate investor, co-created Tabanero hot sauce. 

 

Argentinian developer Alan Faena is looking to sell his waterfront Miami Beach estate. Faena is putting the 8,300-square-foot, nine-bedroom mansion on the market for $16.5 million. He paid $10.3 million for the 1-acre property at 4731 Pine Tree Drive in 2014. It features a master suite with a custom walk-in closet designed by Faena, a master bathroom with a Louis XV mirror, original 19th century Spanish chandeliers and hand-painted ceilings. [TRD

 

Adam Neumann accused of pregnancy discrimination. A complaint filed by Medina Bardhi with New York’s Equal Employment Opportunity Commission accuses the former WeWork CEO of demoting her twice after she revealed she was pregnant, and referring to her maternity leave as “retirement.” [NYT

 

Robert Reffkin paid pocket change for a stake in what’s now a $6.4 billion company. The Compass chief paid $335.50 for his stake in Urban Compass in 2012. That and more came to light from evidence in a case brought by Avi Dorfman, who is suing to be recognized as a Compass co-founder. [TRD]

 

Barneys has been reduced to rubble. Barneys will been sold to Authentic Brands Group and B. Riley for about $270 million. The deal, approved by Judge Cecilia Morris in bankruptcy court Thursday morning, means that ABG, a brand merchandiser, will own the luxury department store’s intellectual property. It also will allow the new owner to partner with rival department store Saks Fifth Avenue to use Barneys’ name in its stores. [TRD

 

A co-founder of Robbins Property Associates bought a home in Boca Raton’s Royal Palm Yacht and Country Club for $5.5 million. Mitchell Robbins purchased the 7,997-square-foot house at 461 South Maya Palm Drive for $687 per square foot, records show. [TRD

 

Jho Low to give up millions in assets in 1MDB scandal. The fugitive financier has given up his claim to assets including luxury apartments, jets, yachts and artwork that prosecutors claim he bought with stolen money. [TRD]

 

Developer Ugo Colombo completed Brickell Flatiron, a 64-story, 527-unit tower. Colombo’s CMC Group received its temporary certificate of occupancy for the 736-foot-high skyscraper, which means that closings are set to begin immediately, said Vanessa Grout, president of CMC Real Estate. The building at 1000 Brickell Plaza is about 95 percent sold. [TRD

 

Here’s how to sell a haunted listing. The onus is on the agent to broach the issue with prospective buyers, and Keller Williams’ James Gibbs said it can be “ridiculously hard” to move haunted properties. Gibbs and Compass’ Micha Hendel talk through their tactics at two haunted New York City homes. [TRD

 

Prologis CEO says the logistics business has legs for up to another 30 years. In an interview with Bloomberg, Hamid Moghadam also detailed the company’s expansion strategy. After purchasing Liberty Property Trust for $9.7 billion this month, the company added 107 million square feet of space to its portfolio. [Bloomberg

 

Bill Ackman says WeWork’s worth is “zero.” The hedge fund manager said at a conference that WeWork “has a pretty high probability of being a zero for the equity, as well as for the debt,” adding that SoftBank should have “walked away.” [CNBC

 

Meet the lawyer behind Adam Neumann’s $1.7 billion exit package. Corporate attorney Bob Schumer — brother of U.S. Sen. Chuck Schumer — proved an unlikely ally for founder and former CEO Neumann after the company’s failed IPO bid, helping him to secure the generous package as the company plans to lay off thousands of employees. [BI]

 

Silver Airlines signed a new lease for its new headquarters. The airline leased 29,438 square feet at Hollywood Design & Distribution Center in Hollywood, according to a press release. CBRE’s Larry Genet, Tom O’Loughlin, Ana Rivera and Jake Zebede represented the building’s owner, Avid Asset Management. Pete Garcia and Rudford Hamon of Binswanger Gateway Partnership represented the tenant.

 

Miami Beach investor buys retail building in Surfside. A partnership between Imperium Capital and RWN Real Estate Partners sold the 2,000-square-foot building at 9569 to 9571 Harding Avenue for $2.5 million to a company managed by investor Joseph Cohen, records show. Drew A. Kristol and Kirk D. Olson of Marcus & Millichap brokered both sides of the deal. Tenants include an AT&T vendor and an ice cream shop.

 

United Real Estate merged with Charles Rutenberg Realty in Florida, adding 1,000 agents to the Dallas-based brokerage. United, led by president Rick Haase, said the merger brings its total agent count to 8,000 across 40 states. Charles Rutenberg Realty, with one office in Fort Lauderdale, will keep its name. [TRD]

 

On the corner of South Federal Highway and Lindell Boulevard, Walgreens is no longer its own landlord. Walgreens sold the 14,362-square-foot Deerfield Beach store at 3200 South Federal Highway for $6.54 million. The buyer is WBA FL 001 LLC, a Delaware company that is tied to Oak Street Real Estate Capital of Chicago. [TRD]

 

An earlier version of this post incorrectly stated where Silver Airlines is relocating to. 

 

Compiled by Katherine Kallergis


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