The Real Deal Miami

  • Ocean Land unveils plans for $200M luxury senior living project in Fort Lauderdale

    42-story, 401-unit tower would include doctors' offices, restaurants, gym, spa and more
    March 30, 2017 05:50PM By Katherine Kallergis

    Rendering of Riverwalk Residences and the building that’s currently on the property

    Ocean Land Investments has revealed plans for its Riverwalk Residences of Las Olas, a luxury senior project proposed for downtown Fort Lauderdale. [more]

  • Terranova to open Miami Beach food hall off Lincoln Road
    next year

    Food hall below Marshalls will have 9,600 sf with spaces for 16 tenants
    March 30, 2017 05:15PM By Katherine Kallergis

    Renderings of the Lincoln Eatery

    On the ground floor of the new Marshalls building just off of Lincoln Road, Terranova Corp. plans to open a food hall by the summer of 2018. [more]

  • Affordable housing stock in Miami-Dade is shrinking: panel

    Solutions include creating a community land bank, luring developers not yet active in SoFla
    March 30, 2017 04:00PM By Francisco Alvarado

    Downtown Miami (Credit Azeez Bakare Studios)

    Between 2000 and 2015, the number of single family homes in Wynwood rented by low- to middle-income households dropped from 38 percent to 20 percent, according a new report by the Urban Institute.

    The findings stress the need in Miami for more housing that a majority of city residents can afford, according to the report’s authors. [more]

  • Jimmy Tate submits new plans for Bahia Mar – sans high-rises

    Opponents of the withdrawn project criticized its height and impact on traffic
    March 30, 2017 03:15PM

    New rendering of Bahia Mar

    Developer Jimmy Tate has submitted new plans for his Bahia Mar resort and marina, months after he withdrew his proposal due to increasing opposition.  [more]

  • Inside

  • Miami Beach condo buyer sues seller and broker over alleged Airbnb misrepresentations

    Martina Abosi also alleges remodeling work was completed without permits
    March 30, 2017 02:00PM By Franicsco Alvarado

    360 Meridian Avenue. Inset: Martina Abosi (Credit: Facebook)

    Bahamian investor Martina Abosi wanted to get in on the Airbnb action in Miami Beach to help fund her retirement, so she set out to find a condo in areas of the city where short-term rentals are allowed.

    Instead, Abosi paid $330,000 last year for a unit in a 1960s mid-rise tower that was allegedly renovated without permits, located in a neighborhood where short-term rentals are prohibited. And she faces a $20,000 fine should she seek out renters, according to a lawsuit she recently filed in Miami-Dade Circuit Court. [more]

  • Hawaiian firm sells Marriott Biscayne Bay for $38M

    Deal includes four units at the adjacent Grand hotel-condo building
    March 30, 2017 01:20PM By Katherine Kallergis

    Miami Marriott Biscayne Bay. Inset: H. Mitchell D’Olier of the Harold K.L. Castle Foundation

    A Hawaiian firm has sold the Miami Marriott Biscayne Bay to a Delaware corporation for $38 million, property records show. [more]

  • Trump Organization hunts for second DC hotel location: report

    President's firm is considering expanding its Scion brand to the nation’s capital
    March 30, 2017 12:15PM

    Donald Jr., Eric Trump, and a rendering of the new Scion brand of Trump Hotels
    (Credit: Getty Images and Altera International via Bloomberg)

    From the New York website: Trump Hotels is exploring the possibility of opening up a second hotel in Washington D.C., and has seriously considered at least one potential location. [more]

  • Construction spending in South Florida down again: report

    Commercial sector saw increase in construction starts
    March 30, 2017 11:15AM

    Construction cranes

    Construction spending was down 20 percent in South Florida in February compared to the previous year, according to the latest report from Dodge Data & Analytics.  [more]

  • Get your tickets to The Real Deal’s third annual Broward Showcase and Forum

    Louise Sunshine, Shahab Karmely among confirmed panelists for April 20 event
    March 30, 2017 10:30AM

    Residential pricing continues to rise in Broward County and The Real Deal South Florida is returning to the thriving market to bring together more than 3,000 of South Florida’s biggest names – from brokers, developers and designers to investors and homebuyers – for a day of networking and learning.

    In 2017, we’re doing it again. Even bigger, even better. Guests will be treated to an in-depth look at new developments and industry products while networking with top real estate investors and professionals. [more]

  • How the Brightline train will transform the Sunshine State — and its real estate

    The train line will be a boon for tourism as well, experts say
    March 30, 2017 09:45AM By Dan Weil

    Brightline’s first completed trainset

    From the March issue: All Aboard Florida’s Brightline train service between Miami and West Palm Beach, scheduled to begin this summer, has the potential to be transformational for South Florida, local real estate experts agree.

    “This will change the way travel and development and redevelopment occur in South Florida,” said Rick Gonzalez, president of REG Architects in West Palm Beach. “You can now work in downtown Miami and live in Fort Lauderdale or West Palm Beach.”

    Brightline, which has been under construction for almost three years, also includes a stop in Fort Lauderdale and will ultimately be extended to Orlando as well.

    Developers will benefit from the consumer traffic around the stations, said Arden Karson, senior managing director of CBRE South Florida, adding, “Brightline will … ultimately make these downtown areas much more attractive as a destination for residential, commercial and retail real estate investment and development.” [more]