Moishe Mana sells Hibiscus Island home for $12M, CitizenM scores $48M loan to build Brickell hotel

A daily roundup of South Florida real estate news, deals and more for Dec. 5, 2019

Miami /
Dec.December 05, 2019 05:45 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 5:45 p.m.

 

The founder of Cash4Gold bought a waterfront home in Miami Beach’s La Gorce Island for $19.6 million. The home sold at a 44 percent discount from its listing nearly four years ago. Jeff Aronson and his wife Carolyn bought the 10,094-square-foot estate at 100 La Gorce Drive for $1,941 per square foot. Rapa Holdings, which is managed by Andrew Feldman, sold the property. [TRD]

 

Diesel family dishes on Wynwood condo project. Diesel launched a marketing campaign for its condo development, offering to sell 143 “one-of-a-kind” T-shirts starting at just under $1.6 million. With the shirt, the buyer would receive a condo. [TRD]

 

Moishe Mana sells Hibiscus Island home for $12M. Developer Moishe Mana sold a 1937 home in Miami Beach to a buyer who plans to build a new modern mansion on the property. Mana’s Martini Realty LLC sold the 5,492-square-foot home at 420 South Hibiscus Drive on Hibiscus Island to 420 S Hibiscus Drive SFH LLC, a Delaware company, for $12 million. [TRD]

 

Miami may be closer to banning Special Area Plans. On Jan. 15, the city of Miami’s Planning, Zoning and Appeals Board will discuss proposed legislation that could do away with SAPs altogether. The board voted Wednesday to discuss a rule at its Jan. 15 meeting that would recommend that the city remove SAPs from the Miami 21 zoning code. [TRD]

 

Breather bloodbath: Flex-office startup fires 17% of staff. Breather, an on-demand workspace company, fired almost a fifth of its staff Thursday. The Montreal-based firm, which provides office space across 10 different cities and has more than 100 employees, laid off at least 18 staffers, The Real Deal has learned. [TRD]

 

CitizenM scores $48M loan to build Brickell hotel. CitizenM scored a $48.3 million construction loan to build a new hotel at the former site of Perricone’s Marketplace & Cafe in Brickell. The hotelier secured the loan from Manufacturers and Traders Trust Co. for the 252-key hotel at 955 South Miami Avenue in Miami. [TRD]

 

AquaBlue Group owner lists South Beach apartments for $14M. A company tied to AquaBlue Group owner Philippe Harari is looking to sell a South Beach apartment complex for $13.9 million. Greenview Courtyard, at 2021-2035 Meridian Avenue, across from the Miami Beach Golf Club, includes three buildings with a total of 30 units. The price breaks down to about $463,000 per apartment. [TRD]

 

Catsimatidis scores approval for $300M tower in St. Petersburg. Greek-American billionaire John Catsimatidis landed approval for what could become the tallest condo tower on the west coast of Florida. Catsimatidis’ Red Apple Group received site plan approval from the St. Petersburg’s Development Review Commission on Wednesday for a $300 million mixed-use project, the Tampa Bay Times reported. [TRD]

 

Lawsuit seeks to halt new EB-5 regulations. Less than a month after the new EB-5 rules came out, a Florida regional center has filed a motion in federal court, seeking a temporary restraining order to halt enforcement. The company, Florida EB5 Investments, alleges the new requirements — which took effect Nov. 21 — violate the U.S. Constitution, were not properly reviewed for potential fallout and will end up killing business. [TRD]

 

Some roads in the Florida Keys may be abandoned due to sea-level rise. Raising three miles of Old State Road 4A in the Keys to withstand sea-level rise and king tide by 2025 could cost $75 million, according to the Miami Herald. In 2045 the costs could increase to $128 million. In 2060, the costs could rise to $181 million. Monroe County asked for $150 million to address sea-level rise for the whole county. [Miami Herald]

 

Joe Biden proposes $1 Trillion in new corporate taxes. Democratic presidential hopeful Joe Biden proposed nearly $1 trillion in new corporate taxes on Wednesday as part of a plan to bring in more revenue in order to pay for healthcare, climate, infrastructure and education costs, according to the Wall Street Journal. Part of his plan would be to tax companies like Amazon.com that show little or no U.S. tax costs. [WSJ]


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