June 2018 Issue

Inside the house of Lennar

As longtime CEO Stuart Miller moves into the role of executive chairman, the country’s biggest homebuilder faces the tricky integration of CalAtlantic, rising material costs and a labor shortage

UPDATED: June 22, 4:43 p.m.: The last decade of Stuart Miller’s 20-year-plus tenure as CEO of Lennar was one for the books. Before announcing his move into the role of executive chairman this past April, the Miami native — and the company — had weathered some significantly stormy weather. Miller led Lennar through one of the worst housing collapses in U.S. history, fended off an alleged extortion scheme by a … [more]

Tax h(e)aven

Out-of-staters looking to escape new, larger tax burdens are arriving in droves, as brokerages work their partnerships to draw the buyers in from across the country

Ultra-wealthy out-of-state buyers are flocking en masse to South Florida, scooping up multimillion-dollar homes and condos with plans to establish residency in … [more]

Scrapping over SoLe Mia

In a suit over the project once known as Biscayne Landing, developer Jeff Berkowitz claims former partners enacted ‘secret plan’ to oust his companies

The long and troubled saga of the North Miami site where the $4 billion megaproject SoLe Mia is being developed has a new twist. In a suit filed in April, … [more]

Bringing down the house

Miami’s nightclubs are becoming collateral damage in the downtown area’s redevelopment plans, but the 24-hour entertainment they provide is a key draw to the city

For more than 15 years, in the wee hours before sunrise on Sundays, the thumping bass emanating from the … [more]

Fort Lauderdale’s condo catch-22

Would-be buyers don’t want to commit until they see a building’s out of the ground, but construction loans are tough to score without an abundance of presales. What’s a developer to do?

Recently, developers have eagerly … [more]

Inside Miami’s newest crop of condo towers

With many heavyweights sitting on their hands until the next cycle, the top condo developers of 2017 are outliers daring to build amid a market facing oversupply

A line of eager real estate agents, architects, attorneys and industry … [more]

Win, lose or draw

Many Miami condo developers are forced to choose: discount, rent or wait out the market

Now that a number of condo projects have been completed this cycle, developers are facing a new source of sales competition: their buyers. In the first half of the year, … [more]

South Florida’s top real estate law firms

The legal eagles of the region are hunting for a competitive edge, be they giants or small outfits looking to offer niche services

Greenberg Traurig land-use attorney Iris Escarra works on the front line of real estate law in Miami-Dade County, … [more]

Mapping Manalapan

Brokers say the tiny Palm Beach enclave is “almost undervalued,” but the ultra-high-end listings that dot the landscape may still require some substantial price slashings to sell

In Manalapan, there are no ordinary beachfront homes, brokers say. Offering unique ocean-to-Intracoastal … [more]

Why Publix is stocking up on real estate

Florida’s leading grocer is strategically pumping funds into all-cash acquisitions of stores and shopping centers

As Amazon’s acquisition of Whole Foods threatens to upend the entire grocery sector, those currently sitting atop the retail food chain are working hard to … [more]

How hot can industrial get?

Pace and size of leases are “unprecedented,” brokers say

Industrial properties may not be the sexiest parcels in commercial real estate, but they’re certainly making buyers salivate these days. Increasingly, investors are willing to go to greater and greater … [more]

The Closing: Arnaud Karsenti

What drives developer Arnaud Karsenti? For one, this bit of wisdom: Anything worth having must be earned. His persistence during the recession is a case in point. The 40-year-old founder … [more]

Editor’s note: The bellwether of homebuilding

As the country’s largest homebuilder, Lennar is part of a very exclusive club. Like Apple and Amazon, which can impact entire industries with a single strategic move, Lennar’s behavior reverberates … [more]

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