Palm Beach estate hits market for $110M, Gulfstream Park bets on $20M renovation

A daily roundup of South Florida real estate news, deals and more for Dec. 2, 2019

Miami /
Dec.December 02, 2019 06:20 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 6:20 p.m.

 

An oceanfront Palm Beach estate re-enters the market for $110M.  The property at 1341 South Ocean Boulevard was previously on the market for two years and is the most expensive home advertised in Palm Beach, according to the Palm Beach Daily News. The house has 170 feet of oceanfront and seven bedrooms. [Palm Beach Daily News

 

Trulia hit with lawsuit over Premier Agent. Trulia was slapped with a federal lawsuit assailing its Premier Agent advertising program as “unfair” and “deceptive,” and accusing it of diverting home buyers away from listing agents. [TRD

 

Walmart-anchored shopping center in WPB sells for $20M. Riverstone Capital Group bought a Walmart-anchored shopping center in West Palm Beach for $19.6 million. The Coral Gables-based investment group bought the 112,364-square-foot Shoppes of Forest Hill at 4316-4450 Forest Hill Boulevard for $174 per square foot, records show. New York-based Trinity Place Holdings sold the property. [TRD

 

Gulfstream Park bets on $20M renovation. South Florida’s thoroughbred horse racing venue is betting on $20 million in renovations. The Stronach Group plans to modernize Gulfstream Park in Hallandale Beach with a new open-air dining terrace overlooking the racetrack. [TRD

 

Tax refugee? Stifel bigwig nabs penthouse at 57 Ocean. Financial adviser Chuck Roberts is purchasing a penthouse at 57 Ocean, an oceanfront condo building under construction in Miami Beach. Roberts, managing director of investments at Stifel in New York, is paying $10.9 million for penthouse two at 5775 Collins Avenue. [TRD

 

Miami River Commission approves yacht building and restaurant. The Miami River Commission on Monday backed a proposal to build a six-story marine facility and an adjacent 90-seat restaurant on properties once owned by a Cuban exile accused of plotting to assassinate Fidel Castro. [TRD

 

Black Friday foot traffic falls from last year. Foot traffic to U.S. stores fell about 6.2 percent on Black Friday, according to ShopperTrak, the Wall Street Journal reported. More people continue to shop online than go to brick and mortar stores as online sales reached $7.4 billion on Black Friday, up from $6.2 billion last year, according to Adobe Analytics. [WSJ]

 

Apartment leasing startup signs a lease for a new hotel near Wynwood Walls. Sonder, a San Francisco-based startup that leases apartments and rents them out on a short-term basis, signed a lease for a new hotel development near the Wynwood Walls. The short-term rental operator will manage the 72-key project at 111 Northwest 26th Street in the artsy Miami neighborhood. [TRD]

 

Compiled by Keith Larsen


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