Jeffrey Soffer’s Turnberry Isle, HFZ’s Shore Club hotel close refinancings
JW Marriott Miami Turnberry Resort & Spa with Jeffrey Soffer, and a rendering of the Shore Club with Ziel Feldman The owners of two South Florida hotels closed on major refinancings of their properties, records show. JW Marriott Miami Turnberry [...]
Allianz hires new acquisitions head
Allianz Group’s Karen Horstmann (Credit: RICS World Built Environment Forum) Allianz Real Estate hired a new director to head up its acquisitions group in the United States. The real estate arm of the German financial giant Allianz Group hired Karen [...]
Carlos Mattos’ family buys Fresh Market in Fort Lauderdale
Carlos Mattos and The Fresh Market The family of Columbian businessman Carlos Mattos bought a Fresh Market in Fort Lauderdale for $9.1 million. NISA FM, tied to Mattos’ children Nicolas and Isabelle, and attorney Richard G. Toledo, purchased the 20,314-square-foot [...]
Michael Shvo believes in Beverly Hills
[video_embed][/video_embed] Michael Shvo doesn’t believe in Los Angeles — he believes in Beverly Hills. Why wouldn’t he? At the end of last spring, he and his partners dished out $130 million for 9200 Wilshire Boulevard. The plan is to develop [...]
Former Minto executive buys 63 acres of master-planned Westlake development
Harry Posin, President of Label & Co. with Westlake Community Minto Communities sold 63 acres of its Westlake master-planned community to Label & Co., where the company plans to build 204 new homes. The homebuilder sold the property at 16610 [...]
Co-working space operator picks up low-rise office building in Edgewater for $20.6M
2125 Biscayne Boulevard (Credit: Artstreetecture | Google) A Chicago-based company bought a Miami office building and plans to convert the 54-year-old commercial property to co-working space. Novel Coworking said it paid $20.62 million for the 63,240-square-foot building at 2125 Biscayne [...]
Co-living development for the creative class is coming to Wynwood
Wynwood (Credit: Metro 1) The Collective acquired property in Miami’s Wynwood neighborhood for development of a co-living apartment building with art-oriented programming. The London-based company said in a press release it will invest in the $210 million Wynwood project in [...]
Canada’s favorite alternative investment? Real estate
(Credit: iStock) Institutional investors in Canada are prioritizing North American real estate over other alternative investment options despite some reservations about financial performance. CIBC Mellon, headquartered in Toronto, commissioned a study to find out more about how institutional investors in [...]
How tiny tubular homes could be a salvation for Hong Kong
Hong Kong may be in a state of unrest, but a local design firm is seeking to mitigate the city’s housing crisis with concrete pipes rebuilt as stackable apartments. James Law Cybertecture is seeking city approval to offer micro apartments [...]
Glenn Close to part ways with 11-acre Westchester estate
The actress, singer and producer has put her Bedford Corners home on the market for $3.6M. Emmy Award winner and Westchester County native Glenn Close has listed her 10.67-acre estate in Bedford Corners for $3.6 million. The acclaimed actress has [...]
May home sales rise almost 10% in Naples amid eastward market shift
Coco Amar May sales of houses and condos in the Naples area rose 9.8 percent as sales activity shifts from high-end properties near the beach to homes under $500,000 in areas east of the beach. The number of closings surged [...]
Miami-based private equity firm pays $54.4M for Coral Gables office landmark
550 Biltmore in Coral Gables Miami-based private equity firm CGI Merchant Group paid $54.4 million for 550 Biltmore, a 16-story office building in Coral Gables. CGI, which owns co-working space operator Nexus Workspaces, paid $336 per square foot for 550 [...]
Retired apparel designer sells Manhattan penthouse for big gain
Andrew Rosen and interior shots of his penthouse at 130 West 12th Street (Credit: Getty Images) Designer Andrew Rosen sold his Manhattan home for $18.5 million after quitting his job as CEO of the apparel company Theory in April. Rosen [...]
Judge says landlord, realty firm should pay $25K penalty for transgender discrimination
Giana Desir A judge recommended that a landlord and realty company pay $25,000 for discriminating against a transgender woman seeking an apartment in Brooklyn. The ruling by administration law judge John B. Spooner favored Giana Desir, who started her transition [...]
Ponzi schemer’s East Hampton home seized by feds to hit the market
The Arc House at 50 Green Hollow Road in East Hampton An unusual East Hampton home that finally found a buyer in 2015 after two years on the market is now poised to list again, albeit under less-than-ideal circumstances. The [...]
US existing home sales bounce back in May as spring buying season heats up: report
(Credit: iStock) Sales of existing homes bounced back last month, as a rocky winter gave way to a robust spring buying season in all parts of the county. Economists credited plummeting mortgage rates for a 2.5 percent national uptick in [...]
Multi-level marketing mogul sells Wellington estate for $13M
Steve Van Andel and 4381 South Road in Wellington (Credit: Zillow) The former co-CEO of the multi-level marketing giant Amway sold his Wellington estate for $12.5 million. Steve Van Andel sold the 59-acre equestrian estate at 4381 South Road for [...]
Investors, speculators plow into US housing market: report
First-time home buyers are struggling to compete with deep-pocketed institutional investors. (Credit: iStock) More than one of 10 homes sold in the U.S. last year went to investors and speculators. And in the bottom third of the market, the proportion [...]
Mark your calendars: These are South Florida’s top real estate events next week
Here are a couple of real estate events to keep an eye on next week! Host: NAIOP South Florida Date: June 27th Time: 5 p.m. to 7 p.m. NAIOP South Florida is hosting a networking social at Gulf Stream Brewing [...]
BTI Partners sells remaining single-family lots in Arbor Parc to 13th Floor
Arbor Parc rendering and 13th Floor CEO Arnaud Karsenti (Credit:: Zillow) BTI Partners sold the remaining lots in the 500-home community Arbor Parc to 13th Floor Homes for $8.2 million. Miami-based 13th Floor bought 98 lots and two model homes [...]
Sell or Be Sold: Grant Cardone sells Boynton Beach apartment complex
Grant Cardone and Heron Pointe Apartments 10010 Boynton Place Circle Grant Cardone didn’t make 10 times his investment, but the motivational speaker did sell an apartment complex in Boynton Beach for substantially more than he bought it for three years [...]
Brown Harris Stevens takes over sales at Ofizzina office condo
Camilo Lopez, Phil Gutman and Ofizzina Brown Harris Stevens Miami is taking on sales of its first new development, an office condo building in Coral Gables. The brokerage, led in South Florida by Phil Gutman, is handling sales of the [...]
The Coconut Grove Playhouse saga continues. County petitions court to overturn denial
Carlos Gimenez, Francis Suarez and a rendering of the Coconut Grove Playhouse Miami-Dade Mayor Carlos Gimenez has commenced the next round in the battle with Miami Mayor Francis Suarez over the fate of the Coconut Grove Playhouse. On Monday, Miami-Dade [...]
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Make it work! Fabrics store of Project Runway fame buys Midtown Miami buildings
The Midtown Miami building and Jordan Gimelstein of Dwntwn Realty Advisors New York’s Mood Fabrics, featured in Bravo’s “Project Runway,” is heading to Miami. The famed fabrics store, owned by the Sauma family, paid $7.13 million, or about $678 per [...]
Facebook is launching its own financial marketplace. Will the real estate industry sign on?
Facebook CEO Mark Zuckerberg (Credit: Getty Images and iStock) Facebook’s long-awaited crypto-anchored financial marketplace may emerge as a game-changer for real estate when it debuts next year. The platform, powered by blockchain, could allow tenants to send the rent with [...]
Publix-anchored Polo Grounds Mall near West Palm sells for $21M
Daniel M. DuPree Chairman of the Board and Chief Executive Officer of Preferred Apartment Communities and the Polo Grounds Mall (Credit: Sembler) A company tied to Preferred Apartment Communities bought the Publix-anchored Polo Grounds Mall near West Palm Beach for [...]
Tech startup that makes Nest for multifamily landlords raises $32M
SmartRent CEO Lucas Haldeman and Bain Capital Ventures’ Matt Harris (Credit: Facebook and Ascent Conference) A real estate tech startup that gives multifamily landlords the ability to control their building’s operational systems with their phones has raised $32 million. In [...]
Blue Road wins approval for Capri condo tower in North Miami Beach
Jorge Savloff and Marco Tenenbaum with a rendering of the project Blue Road won approval to replace an office building with Capri, a new 16-story condo tower on Biscayne Boulevard in North Miami Beach. The Bay Harbor Islands-based company, led [...]
MRK Partners buys senior affordable living facility in South Miami Heights
MRK Partners CEO Sydne Garchik and Casa Devon MRK Partners paid $43.5 million for a senior affordable living facility in South Miami Heights. The El Segundo, California-based company purchased the 210-unit Casa Devon at 11250 Southwest 97th Street for $207,142 [...]
Agents go the extra mile to ensure privacy for not-so-famous rich clients
Agents are protecting their clients privacy (Credit: iStock) Sleep masks. Fake names. Art dealer personas. Those are just some of the gimmicks being used in the world of high-end real estate as more wealthy home buyers seek greater privacy while [...]
TA Realty pays $60M for Regions Bank building in Coral Gables
2800 Ponce de Leon Boulevard; from top: Donna Abood, Joe Abood and Peyton Dowd (Credit: Google Maps) TA Realty bought the Regions Bank building in Coral Gables, amid growing interest in the city’s office Class A office market. The company [...]
May home construction slips 0.9%
Construction dropped in every region except the South, which includes Fla., where it rose by 11.2%. NAHB economist says prices remain high relative to incomes.
Lenders must accept private flood insurance policies after July 1
The threat to home closings during a National Flood Insurance Program (NFIP) shutdown may be muted or nonexistent should Congress fail to extend the program in the future. After July 1, a federal law forces mortgage lenders to accept [...]
Fed likely to leave rates alone but signal readiness to cut
The Fed issues an interest rate decision later today, and while a rate cut isn't expected, the accompanying policy statement could point to likely future moves.
Activists want to stop landlords from turning away ex-cons
In nearly a dozen big cities, advocates are pushing "fair-chance housing ordinances" that prevent landlords from turning away applicants due to prior convictions.
Get over staging fright to help sell a home
Don't think of staging as "a sofa in the living room." It's not about the furniture – it's about enticing buyers to form an emotional connection with a house.
A ‘blooper room’ listing photo can doom an entire sale
Thanks to online technology, buyers now scroll photos and nix a home from consideration in seconds – even a listing that's otherwise ideal for them.
Brokers: Get focused agent training on specific topics
C2EX (Commit to Excellence) isn't only a testing tool, it also teaches. If an agent weakness is identified, they can tap into one of 10 modules, such as "Client Service." https://c2ex.realtor
Rental scams so common that some owners police Craigslist
The rental-home scam ruins vacations and hurts owners who must turn families away, but they're almost common now on sites like Craigslist and even Zillow.