The Real Deal Miami

Category: Popular Stories

  • Judge orders Craig Robins’ Dacra to pay Ugo Colombo’s $1.5M legal tab tied to jet dispute

    Amount is in addition to $1.5M Dacra owes from a 2014 jury verdict affirmed on appeal last year
    March 27, 2017 06:05PM

    A Bombardier Challenger (Credit: Ronnie Macdonald). Inset: Ugo Colombo and Craig Robins

    In the latest step in a seven-year legal battle, a judge ruled that Craig Robins’ Dacra Development must pay $1.5 million for Ugo Colombo’s attorneys’ fees tied to their dispute over a private jet.

    The judgment brings the total Dacra owes Colombo and his CMC Group to $3 million. [more]

  • Sky candy: New renderings of AquaBlu, Eleven on Lenox, Muse and more

    Projects include Robert Wennett's lofts at 1111 Lincoln Residences and the Ritz Miami Beach
    March 27, 2017 08:45AM

    Clockwise from left: Renderings of 1111 Lincoln Residences, Eleven on Lenox, Ritz-Carlton Residences, Miami Beach and AquaBlu

    A handful of developers just released new renderings of some of South Florida’s luxury condo developments that are in the works, ranging from 1111 Lincoln Residences, just north of Lincoln Road, to the newly unveiled penthouse collection at the Ritz-Carlton Residences, Miami Beach.

    Here’s a look inside the projects: [more]

  • Company says bill could block extension of train service to Orlando

    All Aboard Florida says the bill could derail plans to expand Brightline from South Florida
    March 26, 2017 04:00PM

    The first Brightline train delivered to South Florida

    Executives of All Aboard Florida, the company developing a passenger train service in South Florida, say a bill in the Florida Legislature could derail plans to extend the service to Orlando.

    Michael Reininger, chief executive officer of All Aboard Florida, criticized a legislative proposal called the Florida High Speed Passenger Rail Safety bill, sponsored by Senator Debbie Mayfield (R-Melbourne). [more]

  • Topshop Topman, Zara and more heading to Aventura Mall’s new wing

    More restaurants opening plus a VIP lounge with pool tables, TVs and space for stylists
    March 24, 2017 05:00PM

    Renderings of Aventura Mall’s new 315,000-square-foot wing and Jackie Soffer

    Topshop Topman and Zara will open flagship stores in Aventura Mall’s new three-level wing in November, as the shopping center aims to boost its experiential offerings with more food, art and a VIP lounge, The Real Deal has learned. [more]

  • Miami is the second most desired city for millennials: report

    Millennials are drawn to Miami despite high cost of living
    March 22, 2017 10:35AM

    Downtown Miami (Credit Azeez Bakare Studios)

    Despite a lack of affordable and workforce housing, Miami just ranked as the second top city for millennials.  [more]

  • Going viral: Zika isn’t the only thing bugging the Miami-Dade hospitality market

    Miami-Dade hotels took in significantly less revenue in 2016 than they did in 2015
    March 21, 2017 08:45AM

    From the March issue: The Centers for Disease Control (CDC) still lists all of Miami-Dade County as a cautionary “yellow” Zika area. And Miami-Dade hotels have reported a significant slump in business. But is Zika the main reason for the decline?

    No, asserted Bobby Bowers, senior vice president at STR, a research company that analyzes hotel data. Bowers said the slump has more to do with an oversupply of new accommodations. About 4,000 hotel rooms were completed in Miami-Dade last year, Bowers said, increasing the inventory to 58,000. And another 3,579 rooms are currently under construction.

    Also, the strong U.S. dollar made it more expensive for foreign tourists to travel to Miami, especially travelers from Latin America, where the economy has weakened.

    But what about Zika? [more]

  • Patrón CEO sells Manalapan estate for $40M

    Offshore entity buys estate featuring frontage on Atlantic and Intracoastal, $1M waterfall and racing simulator
    March 20, 2017 04:00PM

    1370 South Ocean Boulevard. Inset: Edward Brown

    Edward M. Brown, the president and CEO of the Patrón Spirits Company, can now pour himself a much-deserved drink.

    Property records show Brown sold his 3-acre waterfront estate at 1370 South Ocean Boulevard for $40 million to Borogove Limited, a London-based entity.  No financing was recorded.  [more]

  • Cervera out, Fortune in at OKO’s Missoni Baia tower in Edgewater

    Team declined to provide a presales figure, but said it was in line with the market
    March 20, 2017 01:40PM

    Rendering of Missoni Baia. Inset: Alicia Cervera Lamadrid, Edgardo Defortuna and Vlad Doronin

    Less than a year after hiring Cervera Real Estate to handle exclusive sales and marketing of Missoni Baia, developer OKO Group has cut ties with the brokerage and brought on Fortune International Group in its place, The Real Deal has learned. [more]

  • Airbnb reaches tax agreement with Miami-Dade County

    County commission still needs to approve deal, which could bring in $8M a year
    March 20, 2017 10:45AM

    Airbnb’s Joe Gebbia, Nathan Blecharczyk and Brian Chesky (Credit: Getty Images) and Miami-Dade Mayor Carlos Gimenez

    Airbnb finally reached a tax deal with Miami-Dade County, part of Airbnb’s fourth largest market in the U.S. [more]

  • Development by design

    Will Miami’s Design District live up to its promise as the city’s premier shopping destination?
    March 20, 2017 08:45AM

    (Illustration by Daniel Gary-Barnett)

    From the March issue: The once-gritty Miami Design District is nearing the final stages of its transformation into a luxury shopping destination and cultural hub, filled with designer shops, restaurants, museums, hotels, home furnishings and art collections.

    Designer boutiques like Louis Vuitton, Hermès, Christian Dior, Tom Ford and Giorgio Armani have opened on mahogany-tree-lined streets, alongside open courts and paseos dotted with such outdoor artworks as Buckminster Fuller’s Fly’s Eye Dome and Xavier Veilhan’s sculpture Le Corbusier.

    The district — broadly defined as the area from Biscayne Boulevard to North Miami Avenue, and from the north side of 36th Street to 42nd Street, with the center the Paseo Ponti and First Avenue — is the subject of a multimillion-square-foot revamp that will ultimately include 120 stores and at least 15 eateries in the neighborhood by the end of 2018, asserted  Craig Robins, president and CEO of Dacra, the driving force behind the redevelopment.

    “The plan is to be a creative laboratory, where you can walk around and see amazing art, fashion, design and graphic design,” Robins told The Real Deal.

    Yet to date, just about 50 percent of the renovation is completed. Much of the area is still a construction site. And foot traffic remains relatively light. [more]