Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest

A daily roundup of South Florida real estate news, deals and more for Nov. 1, 2019

Miami /
Nov.November 01, 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 6:00 p.m.

 

OKO Group grabs massive construction loan for Missoni Baia project. Russian billionaire Vlad Doronin’s OKO Group and its partners scored a $243.3 million construction loan for the Edgewater condo tower. [TRD]

 

Spaghetti western star sells Overtown warehouse for $9.5 million. Francisco Martínez-Celeiro sold the 72,903-square-foot warehouse at 690 Northwest 13th Street to a company tied to Kite Tax Lien Capital of Vero Beach. It’s in an Opportunity Zone. [TRD]

 

Howard Lorber is now an owner at the Bristol in West Palm Beach. Property records show the Vector Group CEO and Douglas Elliman chairman paid $6.87 million for unit 1601 at the luxury condo tower, which overlooks the nearby Palm Beach island, where the luxury market has seen record sales this past summer. [TRD]

 

Pinstripes bowling alley inks lease at The Plaza Coral Gables. The dining and entertainment bowling venue is taking 30,000 square feet on two stories at the project. Agave Holdings, a group that includes the family behind the Jose Cuervo spirits business, is the developer. [TRD]

 

WeWork’s white elephant: Insiders savage Lord & Taylor building buy. One is WeWork’s $850 million purchase of the Lord & Taylor building. Six current and former WeWork employees familiar with the acquisition told The Real Deal that WeWork overpaid, perhaps by as much as $200 million. [TRD]

 
Donald Trump (Credit: Getty Images)

Donald Trump (Credit: Getty Images)

Trump to become a full-time Florida resident. Trump filed a declaration of domicile form last month in Palm Beach County, relocating his residence from Trump Tower in Midtown Manhattan to his 128-room Mar-a-Lago mansion, according to the Miami Herald. [Miami Herald]

 
Miami Beach loosens regulations for real estate developers and small businesses

Miami Beach loosens regulations for real estate developers and small businesses

Miami Beach relaxes rules on development, pools, restaurants. The Miami Beach City Commission on Wednesday approved four laws that eliminate the need to seek variances on commonly requested issues such as room size for a redeveloped historic property, signage for businesses, and, in certain areas, requirements for alcohol-serving restaurants. [TRD]

 

Compass and Opendoor’s CEOs are sitting out a Saudi tech conference this month. A spokesperson for Compass said Robert Reffkin wasn’t invited. Meanwhile, OpenDoor CEO Eric Wu turned down his invitation. Last year, SoftBank CEO Masayoshi Son and JPMorgan Chase CEO Jamie Simon were among dozens of leaders who pulled out of the “Davos in the desert” conference, after the death of journalist Jamal Khashoggi. [Inman]

 

Houston Texans wide receiver Kenny Stills wants to sell his South Florida home. Stills, who played for the Dolphins until he was traded in August, is listing the waterfront Fort Lauderdale house at 2401 Southwest 26th Avenue for $2.8 million, The Real Deal has learned. It’s hitting the market with Kim Knausz of One Sotheby’s International Realty. [TRD]

 

Don’t count JC Penney out. The cash-strapped retailer is testing a plan to expand amenities and offer yoga classes in a Texas store before rolling the strategy out to their 850 stores nationwide. [WSJ]


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