The Real Deal Miami

October 2014 Issues

Real estate´s rising stars

Up-and-comers in South Florida’s 35-and-under crowd, from Miami Worldcenter developer Nitin Motwani to Related Group’s Jon Paul Perez

The experience of navigating through the devastating real estate market collapse of the last decade and the past few years’ revival has defined the careers of many in South Florida’s real estate industry, particularly those relatively new to the business. The Real Deal talked to dozens of local real estate experts to get a sense of who in the 35-and-under crowd is flourishing in a reinvented industry. Several of the … [more]

Home sweet home sales

SoFla residential market shows price gains, with the most expensive sale this year nabbing $43M

Barbara Salk was working for the Related Group when the South Florida real estate market went bust last decade. Home values plunged as a rising number of defaults replaced rapidly … [more]

Red carpet real estate

SoFla brokerages launch dedicated sports and entertainment divisions to lure celeb clients

Two years ago, rapper and music producer Bryan “Birdman” Williams was ready to upgrade from his humble one-bedroom South Beach condo into something more palatial. So Williams turned to Miami … [more]

Peebles heads south

Developer Don Peebles shifts focus from NY to Miami, but finds construction and lending tougher

As summer turns to fall and New Yorkers adjust to cooler temperatures, developer Don Peebles, like a snowbird, is heading south to Coral Gables. After a few months working from … [more]

The business of partying

High-end residential brokers in South Florida invest heavily in elaborate open house bashes

In early January, Jonathan Postma was hired to market a seven-bedroom mansion with an expansive view of the Intracoastal Waterway. The Boca Raton-based broker at Coldwell Banker Residential Real Estate … [more]

The heart of the boom

Miami-Dade accounts for nearly 75 percent of South Florida’s vast preconstruction condo inventory

Developers are starting to trickle north, but Miami remains the prime location in South Florida for new condo construction. Miami-Dade County represents nearly 75 percent of the 278 condo towers … [more]

A-list abode sales thrive

Miami Heat, other sports stars and celebs rank among both buyers and sellers of pricey pads

South Florida retains its appeal for those in the spotlight, judging from the number of sports stars, actors and musicians making expensive residential deals in recent months. High-profile trades stretched … [more]

A pioneering family

Melo Group hailed for bringing new deposit structure to Miami and starting up Edgewater’s boom

Jose Luis Melo and his sons, Carlos and Martin, first saw Miami in a spring 2001 exploratory trip seeking out real estate development opportunities. “We didn’t know anything about the … [more]

Southwest Broward rising

Large-scale residential projects hit suburban communities as some SoFla residents flee big cities

In the quiet, suburban reaches of South Florida, a development boom of its own kind is forming. A short drive from the urban bustle of Fort Lauderdale and about 30 … [more]

Shaping Miami’s skyline

Arquitectonica’s Bernado Fort-Brescia discusses how his ubiquitous firm is making its mark on the city

It may be hard to find a firm more responsible for sculpting the Miami skyline than Arquitectonica, which has designed more than 40 private and public projects, including AmericanAirlines Arena, … [more]

Benchmarking the boom

There’s no shortage of South Florida real estate observers proclaiming the market is on fire. But how much of what they’re saying is hype and how much is backed up … [more]

Industrial strength

Demand from tenants, investors and developers is poised to continue heading into 2015

Banks are giving a boost to South Florida’s industrial sector. Burned by their pre-crash dependence on residential mortgages, regional and statewide banks are now putting a greater portion of their … [more]

Foreclosures still linger

Despite robust market, plenty of distressed properties remain throughout region

Beyond South Florida’s seemingly endless parade of construction cranes is a wide array of distressed houses and condominiums. The region’s real estate market has rebounded since last decade’s recession. But … [more]

Battle of the retail titans

Miami's biggest projects — Brickell City Centre and Miami Worldcenter — compete for major shopping tenants

One has been in the planning stages for a decade. The other is being built by an internationally known developer with massive projects under its belt. Both secured experienced teams … [more]

Clock ticks on big loans

South Florida retail owners face refinancing decisions as CMBS-backed maturities loom

Retail property owners in South Florida will face a series of financing decisions in the next few years, as billions of dollars of commercial mortgage-backed securities debt comes due. CMBS … [more]

Slow but steady gains

Miami’s major office markets recovering from crash, but high vacancy rates still linger

The residential development surge in Miami’s urban core is driving land prices to levels that make it difficult to build office space. In July, for example, an Argentine investor bought … [more]

It’s a small (hotel) world

Hospitality brands from across the globe are opening up new outposts in Miami as the tourism sector sees record visitor numbers and room rates rise

As Miami draws more international tourists, it’s also attracting hotel developers from around the world. Chilean Hospitality Company Atton Hotels is building a 225-room hotel in Brickell, the city’s financial … [more]

Condo boom may mean more Miami gridlock

As city prepares for an influx of new residents, its transit woes have real estate industry’s attention

When residents finally move into the new condos under construction in the Miami area, many will end up stuck in traffic. Miami transportation options lag behind other major metropolitan areas, … [more]

How to avoid another bust

Even with 40,000 new condo units announced since 2011, developers are proceeding cautiously

South Florida’s latest condo boom is on the verge of surpassing 40,000 units in the tri-county area of Miami-Dade, Broward and Palm Beach counties, and that’s just on sites located … [more]

Editor’s note

Miami is no longer just a seasonal real estate market. Nowadays, deals are being consummated and new developments are rolled out throughout the year. A busy fall is sure to … [more]

Getting creative

Developers in Broward and Palm Beach counties attempt to differentiate their projects from Miami’s offerings

Developers in Broward and Palm Beach counties can’t necessarily count on a deep foreign buyer pool like in Miami, so they have to find creative ways to generate buzz for … [more]