The Real Deal Miami

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    January 17, 2017 07:30AM

    Current reader favorites:

    1. Billionaire Ken Griffin pays $85 million for Palm Beach estate
    2. NY developer Joseph Moinian pays $12.5M for Leon Black’s Faena House unit
    3. Portugal and Colombia top list of best places to buy real estate overseas in 2017
    4. This under the radar town in Florida has become a playground for the richest of the rich
    5. New York investor allegedly skipped out on a $1.44M commission

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  • LeFrak, Roth to head up Trump’s new infrastructure council

    Developers will help oversee up to $1 trillion in spending and private investment
    January 16, 2017 05:15PM

    From left: Donald Trump, Richard LeFrak Steven Roth and the Port Newark container terminal

    From the New York website: President-elect Donald Trump tapped longtime friends and fellow developers Steven Roth and Richard LeFrak to head up a council that will monitor national infrastructure spending.

    “They’re pros,” Trump told the Wall Street Journal Friday. “That’s what they do. All their lives, they build. They build under-budget, ahead of schedule.” [more]

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  • Miami Beach has Bakehouse singing the blues after code says no jazz on Sundays

    Popular restaurant is appealing on First Amendment grounds  
    January 16, 2017 04:30PM By James Teeple

    Bakehouse Brasserie. Inset: Menin Hospitality’s Jared Galbut and Keith Menin

    In a city known for throbbing all-night discos, oversized speakers blasting rap music on Ocean Drive and salsa-blaring golf buggies ferrying tourists from bar to bar, one might think that a little smooth jazz at a Sunday brunch might not be that controversial.  

    But a code violation issued for playing a saxophone at the popular Bakehouse Brasserie at 808 First Street recently is now being appealed in court — and it’s being challenged for violating the First Amendment. [more]

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  • The week in luxury: A map of Miami-Dade’s priciest condo sales

    Closing prices ranged from $5.65M to $605,000
    January 16, 2017 03:50PM By Katherine Kallergis
    map Continuum South unit 3104, listing agent Eloy Carmenate and a map of Miami-Dade’s priciest condo deals last week.

    Miami-Dade County’s condo market is seeing slow but steady gains since the beginning of 2017. Sales volume was up from the previous week by about $5 million and half of the top 10 units sold for more than $1 million. [more]

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  • London homeowners avoid selling amid Brexit jitters

    For prospective buyers, resi inventory in the city is growing scarce
    January 16, 2017 03:00PM
    London homes (Credit: Fin Fahey via Flikr)

    London homes (Credit: Fin Fahey via Flikr)

    From the New York website: The number of London residential properties hitting the market dropped significantly in January, as sellers remain wary of the imminent Brexit process and a tax increase.

    In January, new listings fell 14 percent from a year earlier, according to property website operator Rightmove. The average asking price of a property in the city jumped 1.4 percent in January to 624,935 pounds ($759,000), Bloomberg reported. [more]

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  • NY developer Joseph Moinian pays $12.5M for Leon Black’s Faena House unit

    Black had paid $16.5M for the 4,730sf unit in September 2015
    January 16, 2017 02:15PM By Ina Cordle

    Faena House unit 9-A and Joseph Moinian

    New York real estate developer Joseph Moinian and his wife Nazee just bought billionaire Leon Black’s condo at Faena House for $12.5 million. [more]

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  • Coldwell Banker zeroes in on new development in South Florida

    Brokerage has 27 projects in Florida, including 16 in Broward and two in Miami-Dade
    January 16, 2017 01:30PM By Katherine Kallergis

    Rendering of 88 Hundred Collins. Inset: Duff Rubin

    Coldwell Banker is looking to capitalize on projects that may have gone stale in South Florida.

    The brokerage has expanded the role of senior regional vice president of Southeast Florida, Duff Rubin, to include new developments and acquisitions opportunities throughout the state, Rubin told The Real Deal[more]

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  • Economic influences propel SoFla real estate markets in 2017: Avison Young

    A look at Miami-Dade, Broward and Palm Beach counties' offfice, industrial and retail markets
    January 16, 2017 12:50PM By Sara Emmons

    Downtown Miami. Inset: Michael Fay

    Florida’s economy is expected to surpass the $1 trillion mark in gross product by 2018, making the state’s economy the 16th largest in the world. And with declining unemployment and vacancy rates, South Florida’s real estate markets are projected to strengthen in 2017 as the economy continues to grow, according to a newly released report by Avison Young. 

    Michael T. Fay, principal and managing director of Avison Young Miami, sees opportunities in South Florida real estate this year. “South Florida continues to have great metrics across all three counties and in the office, retail and industrial markets,” he told The Real Deal. [more]

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  • Some of the biggest resi developments to open in 2017: VIDEO

    TRD roundup of Miami-Dade projects includes Brickell Heights, Jade Signature, Hyde Midtown
    January 16, 2017 12:00PM By Katherine Kallergis and Alistair Gardiner
    2017Renderings of Brickell Heights, Panorama Tower, Jade Signature and Aria on the Bay

    Check out The Real Deal’s video roundup of some of the largest residential projects set to open in 2017 here.

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  • Fortune hires Jim Cohen to lead new development sales

    Fortune will launch project sales in Wynwood, Coconut Grove, Miami Beach and Miami River
    January 16, 2017 11:15AM By Katherine Kallergis

    Jim Cohen and Edgardo Defortuna

    Edgardo Defortuna’s Fortune International Group brought on Jim Cohen to lead all development sales, replacing a role previously filled by Andres Asion, as the firm prepares to launch several new projects this year.  [more]

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