1111 Lincoln inks retail lease with Yoyoso, Miami-Dade and Related Urban reveal massive affordable housing plan

A daily roundup of South Florida real estate news, deals and more for Nov. 12, 2019

Miami /
Nov.November 12, 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.

 

1111 Lincoln Road adds new retail tenant. YOYOSO will occupy the 5,600-square-foot corner retail space at the property. The deal marks the largest retail lease, in terms of square footage, signed along Lincoln Road since the second quarter of 2018, according to CBRE Global Investors.

 

Todd Glaser, Rony Seikaly close on Miami Beach spec mansion. Todd Michael Glaser and DJ and former Miami Heat player Rony Seikaly paid $7 million for a waterfront Miami Beach property they had leased while building a new mansion. [TRD]

 

Menin Hospitality’s Bodega is expanding to Fort Lauderdale. Menin Hospitality co-founders Keith Menin and Jared Galbut signed a 10-year lease with options to open Bodega Taqueria y Tequila’s second standalone permanent location at the historic Bryan building, at 21 West Las Olas Boulevard in Fort Lauderdale. [TRD]

 

Kohl’s-anchored shopping center in West Palm goes for $24M. A West Palm Beach shopping center anchored by Kohl’s and Dick’s Sporting Goods sold for $23.6 million. [TRD]

 

Elliman foots bill for agents’ new business tool. Douglas Elliman is hoping it’s found a divine trinity in a new tool that combines marketing, business management and a customer relationship management system. [TRD]

 

NFL’s Frank Gore lists Davie mansion. Buffalo Bills running back Frank Gore is looking to part ways with his mansion in Davie. Gore, a native Miamian and University of Miami graduate, is currently the oldest active running back in the National Football League at 36 years old. Gore is listing his five-bedroom, six-bathroom home at 12535 Stoneway Court in Davie for $1.8 million. [TRD]

 

Miami again delays vote on David Beckham’s soccer stadium deal. At a special meeting Tuesday morning, Miami city commissioners voted to continue negotiations with Beckham’s partnership group to build Miami Freedom Park, a projected $1 billion commercial mixed-use project anchored by a 25,000-seat stadium for the Major League Soccer franchise Inter Miami CF. [TRD]

 

Zillow and Opendoor aren’t making much on home-flipping. The slew of iBuying companies that have popped up in the last two years aren’t low-balling sellers, but they don’t appear to be making much of a profit, either. Zillow, for example, lost an average of $4,826 on each home sale in the third quarter, after interest expenses — up from $2,916 in the second quarter, the company revealed last week. [TRD]

 

Toll Brothers sells golf course to ClubCorp for $8M. Toll Brothers sliced a deal for its golf course and private club at Jupiter Country Club to ClubCorp after selling out its residential community. [TRD]

 

Related’s affordable housing arm is unveiling the River Parc master plan. Miami-Dade County, Related Urban Development and SunTrust will reveal plans for the 22-acre redevelopment as they break ground on the Gallery at River Parc, a 150-unit affordable and workforce housing project. The master plan will add 1,800 of such units to the three public housing projects that already exist on site, currently totaling 800 units. The development is in Little Havana, across from Marlins Park. [Press release]

 

FEMA is delaying its planned rate restructuring for flood insurance premiums until October 2021. The agency hasn’t said how much rates will increase, but it will stop providing subsidized rates and refunds. Congress pushed FEMA to defer the new rates a year after originally planned. Florida, where 35 percent of the National Flood Insurance Program’s policies are written, stands to be impacted the most. [Sun Sentinel]

 

Todd Michael Glaser and former Miami Heat player-turned-DJ Rony Seikaly paid $7 million for a waterfront Miami Beach property. Glaser said the seller, real estate developer Ron Simkins, offered him the unique deal a year and a half ago. Glaser and investment partner Seikaly were able to lease the property at 1635 West 22nd Street on Sunset Island IV, knock down the house, build a new spec home in its place, and buy it when it was completed. It will hit the market for about $19 million. [TRD]

 

Compiled by Katherine Kallergis


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