When Argentinian developer Alan Faena announced an ambitious high-end condo project in Miami Beach three years ago, the area’s housing market was riding a towering wave of rising values as it recovered from the 2008 crash. In the years after its launch, Faena House became a symbol of the heights to which developers could take the luxury market, shattering Miami-Dade’s residential price record with the $60 million sale of its … [more]
Seeing cracks in the condo market
Bartering at the top of the market
Even trophy oceanfront mansions haven’t escaped the long shadows cast by the clouds hanging over the Sunshine State’s luxury residential market. Over … [more]
Spinning green cards into gold
What was once scarcely used as a source of development financing now has a waiting list. Condominium projects, and more recently hotels and even … [more]
Lincoln Road on edge
A year after Spanish billionaire Amancio Ortega made a record-shattering purchase on Lincoln Road — paying $370 million for an entire block — some of the … [more]
Developer Vladislav Doronin doubles down
Vladislav Doronin, the developer of Europe’s tallest building, first visited Miami in the early 1990s. From the instant he laid eyes on the city, the Russian developer, who … [more]
Hedge funds swarm into Palm Beach
The City of Palm Beach and neighboring West Palm Beach are becoming ever more attractive to alternative asset managers. Some firms that have long been … [more]
Deflating demand for air rights
Until recently, there was sky-high demand for the air rights of properties in Miami and nearby cities, including Coral Gables, Miami Beach and Sunny Isles Beach. … [more]
Preserving paradise
Ever since the founding of the Miami Beach Historic Preservation Board more than 30 years ago, developers and preservationists have been tangling over whether it … [more]
Boutique is the new black
Boutique condo projects designed to appeal to buyers seeking the privacy of a single-family home with the convenience of a condominium are rising up across South Florida. Developers say they’re … [more]
Wynwood: A work in progress
Wynwood made international news this summer when it became the first area in the continental U.S. to report locally transmitted cases of the Zika virus. The issue … [more]
A tougher sales pitch
The days of red carpet parties for new condominium developments, with seemingly limitless budgets and endless … [more]
Lending squeeze
South Florida condominium sales have been at high tide for years, but the low tide may be just on the horizon — if not ashore — amid mounting evidence of … [more]
Financing of last resort
Facing an uncertain sellout period, some condominium developers will borrow against their inventory of unsold units. Condo inventory loans are typically high-interest-rate debt from nonbank creditors … [more]
Maturing loans on shaky ground
Just beneath the surface of Miami’s strong commercial real estate market, a cluster of troubled pre-financial crisis loans imperiled by shaky shopping centers and … [more]
A commercial break?
There’s no doubt that a quieter condo market and tighter financing have been having an overall impact on real estate development in South Florida. Veteran real estate analyst Jack McCabe … [more]
Hotel reservations
Swank new hotels are rising up in the Magic City, thanks to the money that developers from far and wide have poured into boutique projects and grand high-rises … [more]
What is it really worth?
These days, there is certainly no love lost between Miami developers and the county’s Property Appraiser’s office. Increasingly, the groups are battling it out in court over assessment values. Take, … [more]
Blurring the built edges
Behind every starchitect is a team of talented architects striving to realize a unique vision. Shohei Shigematsu — a partner in the design firm OMA … [more]
Doral flips the script
Doral, hitherto best known for its gated communities and golf courses, has become the focus of intense development activity. Thousands of residential units are in the pipeline, and some market … [more]
Barriers to affordable housing
It’s no secret that affordable housing projects need to pass through a complex maze of tax-credit lotteries and official approvals. Even when former Miami Heat basketball player Alonzo Mourning decided … [more]
Tallying up new condos
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Nesting with the stars
Recently, celebrities have picked up a pricey batch of homes, from sprawling waterfront mansions to preconstruction condos. Yet some A-listers are struggling to … [more]
Editor's note
A huge question mark hangs over the South Florida real estate market. Is there enough gas left in the tank to complete another round of luxury condominium towers and giant mixed-use … [more]