SoFla briefs: Miami rentals to outnumber condos in 2017, Joe Moinian snags $12.5M Faena House pad … & more

From the February issue:  Greater Downtown Miami will see more new rental apartments than condominiums in 2017 for the first time ever as developers focus on the multifamily market amid slumping condo sales, according to report from the Downtown Development Authority. New York real estate developer Joseph Moinian and his wife, Nazee, have bought billionaire Leon Black’s condo at Faena House. A group of homeowners who have watched property values in Miami’s Design District surge have banded together to market their sites as a 30,000-square-foot assemblage, asking $18 million. [more]