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NEWS

Thor and Related’s Wynwood rental and retail projects clear development review hurdle

September 08, 2016

Thor Equities’ Wynwood Plant and the Related Group-led Wynwood 29 both received approval recommendations for a series of zoning waivers to make the rental and retail projects feasible for development...

Bayside Marketplace to undergo much-needed makeover in October

September 14, 2016

Bayside is still a fun place to take visiting friends for elite people-watching or watching games at Hooters, but it desperately is in need of some upgrading. With so many people moving to the Downtown Miami area it could really use a big-box tenant...

7 awesome projects to improve Miami’s public spaces

September 14, 2016

The Miami Foundation has announced the 19 winners for their fourth annual Public Spaces Challenge, a countywide contest to make our public spaces better...

Expenses your landlord should be covering

September 22, 2016

Finally found the perfect rental? Before you celebrate, make sure you have a handle on which expenses you'll be expected to pay - and which ones your landlord should pony up for...

  • As the Design District, Midtown and Wynwood continue to evolve, the neighborhoods could replicate the synergy of the Meatpacking District in Manhattan, according to some big-name developers.

  • “Twenty to 30 percent [of new clients] said they just recently moved down from New York.

Developer launches new crowdfunding platform in Miami

February 15, 2016

  • Metronomic, a development firm based in Coral Gables, has launched its own crowdfunding web platform in hopes of cashing in on financing craze in South FL.

  • Crowdfunding is a win-win for both developers and members of the communities where their projects are being built. Residents of Little Havana, for example, can take part in Metronomic’s new projects, while the developer accumulates financing.

  • After making major investments in downtown Miami and Wynwood, Moishe Mana has turned to North Miami Beach for his latest deal.

  • Migal 699 LLC, which is managed by Mana, paid $9.5 million for the 136,468-square-foot Regions Bank office building at 699 N.E. 167th Street. to 30 percent [of new clients] said they just recently moved down from New York.

Miami-Dade breaks all-time record for single-family home sales in 2015

February 11, 2016

  • Realtors sold nearly 14,000 single-family homes in Miami-Dade County in 2015, up 3.1 percent from 2014 and an all-time record.

  • The third straight year of record-breaking sales.

  • Prices hit $285,000 for the year, up from $245,000 in 2014, an 8.2 percent gain.

Developer proposes 71-unit apartment complex in Miami-Dade

February 03, 2016

  • The project would total 80,764 square feet in five buildings, each of them three stories tall.

  • It would have 32 one-bedroom units and 39 two-bedroom units, plus a small retail space along Miami Gardens Drive. The developer would provide 125 parking spaces.

Miami-Dade foreclosures keep falling in November

January 29, 2016

  • The percentage of debtors who hadn’t paid their mortgage bills for more than 90 days sank to 7.25 percent — a 3.42 percentage point decrease compared to November 2014.

  • Homeowners in Miami-Dade took a hard hit during the real estate market’s crash during the late 2000s

  • The county has since seen an explosive recovery in both prices and foreclosure rates, though recent months have seen a significant drop in sales activity.

Hedge fund billionaire wants to flip Miami-Dade’s most expensive condo for $73 million

January 28, 2016

  • The apartments are located in Faena House, an 18-story tower at 3301 Collins Ave. built by Argentine developer Alan Faena.

  • The tower is part of a $1 billion arts district in mid-Beach featuring an opulent, newly renovated historic hotel.

Home prices rise in South Florida

January 26, 2016

  • Home prices across South Florida rose again in November, according to a closely watched barometer of the housing market.

  • The Case-Shiller index up 8.1 percent annually for Miami metro. 

Foreign buyers grabbed huge percentage of South Florida home sales

January 21, 2016

  • The international influence on South Florida’s residential market was gigantic as foreign buyers accounted for 36 percent of the dollar value of home sales.

  • $6.1 billion in home sales to foreign buyers. Miami-Dade led the way with 78.9 percent of that total sales.

Post Office Sells for $43.2 Million:

December 18, 2015

  • In 1963, the Post Office purchased the 43,632-Square-foot property built in 1947 for $130,000. 

  • Located at 66 NE 39th Street the Post Office was sold December 8, 2015 for 43.2 million.

  • The property will be mixed-use project with both retail, office, residential and hotel.

 

Texas developer buys Midtown 29 site for $19M

December 17, 2015

  • Texas based Morgan group paid $19.1 million for the Midtown 29 sites, nearly an entire block between NW 28th streets, and the east side of the railroad tracks.

  • The company plans to develop a new residential retail and restaurant project. A 20 story mixed-use apartment tower with 309 units on the site.

Beckham announces Overtown site for soccer stadium

December 04, 2015

  • Miami-Dade Mayor Carlos Gimenez said plans to sell Beckham a 3-acre county service yard as part of the stadium site. 

  • Beckham would bring a 30,000-seat soccer stadium to Overtown.

  • Beckham's group pledged to spend at least $150 million building the stadium.

Miami Design District enters new phase of development

November 18, 2015

  • Block long construction continues between NE 41st and 42nd ST at a site dubbed Paradise Plaza, where 60 more ultra -luxury, brand names stores will open end of 2016.

  • The design will duplicate the open-air, two-story shopping plaza called Palm Court on NW 39th ST.

  • The 6,000 square-foot, two story building will have a 3,000 square-foot rooftop entertainment deck.

Hermès opens flagship store in Design District; other new tenants announced

November 05, 2015

  • The three-story 13,000-square-foot Hermes store is only its third U.S flagship after Manhattan and Beverly Hills.

  • New Design District tenants include Saint Laurent, Tory Burch, Alice + Olivia, Be Miami, Loro Piana, Joseph and all plan to open by the end of 2016.

  • Tenants are slated to occupy the building by September 2016 with the rents starting at $35 per square foot for the office space. 

Thor Equities buys an entire block in Wynwood for $41.5M

September 22, 2015

  • Thor Equities paid $41.5 million in September of 2015 for more than an entire block in Wynwood.

  • Equites bought 2800 NW 2nd Ave, a 100,000 square foot site running from NW 29th Street to NW 28th Street. The corner site includes 5 existing buildings totaling 45,000 square feet, and also features 16,500 square foot parking lot. 

  • The property has development rights in excess of 600,000 square feet, ant the plan for the site includes a mix of retail, residential hotel and/or office uses. 

Margulies’ lawsuit challenging Miami Worldcenter dismissed

September 11, 2015

  • Developers agreed to pay higher wages and hire up to one-third of their unskilled workers from Overtown and then from around Miami.

  • Scheduled for completion in 2018, Miami World center will include a 500-unit Paramount Miami World center condo tower constructed atop the Mall at Miami World center, a 765 square-foot retail and entertainment center anchored by Macy’s and Bloomingdales.

  • The mixed-use project also will include an 1,800 room Marriott Marquis hotel and convention center, plus a tower with 429 luxury rental apartments.

Mediterranean-style project breaks ground in Design District

August 06, 2015

  • A new mixed-use commercial development project will include a 2,978 square-foot ground floor retail space, and the second and third-floor office space totaling 6,600 square feet.

  • The space also includes a rooftop deck for tenants and events, and underground parking for 26 cars.

  • Tenants are slated to occupy the building by September 2016 with the rents starting at $35 per square foot for the office space. 

  • The mixed-use project also will include an 1,800 room Marriott Marquis hotel and convention center, plus a tower with 429 luxury rental apartments.

Rezoning of 205 acres in Wynwood gets first OK

June 18, 2015

  • The Board recommended approving Wynwood as the city’s first Neighborhood Revitalization District, which will encourage builders to create wider sidewalks, pedestrian walkways within large projects, provide financial incentives to developers who preserve warehouses, and make it easier to construct affordable housing.

Miami Planning Board Approves Wynwood's Densest Housing Yet

June 10, 2015

  • Wynwood Central, a planned 69-unit building, will go up right across the street from the Wynwood 250 site. 

New Design District garage opens, more designer boutiques unveiled

April 22, 2015

  • The City View Garage futuristic building, with a series of wavy, gold, titanium-coated, stainless steel panels, surrounding its western exterior, is now accepting cars with self-parking just $3 dollars for the first four hours.

  • The 7 story, 283,000 square-foot garage, at 3800 NE first avenue, features two public art pieces.

Metro 1 launches sales for Buena Vista Villas

April 07, 2015

  • The villas at 4510 NE 2nd Ave range from 1 bedroom and 1.5 bathrooms to 2 bedrooms and 3.5 bathrooms and start at $450,000 and go up to $970,000.

  • The project is slated for completion at the end of 2016. Amenities will include European kitchens and appliances, underground parking and open floor plans. Fourth floor units will feature private rooftop terraces with hot tubs.

Another Miami Design District building sells — for $28M

March 18, 2015

  • The 17,391 square-foot retail/office/restaurant building, at 35 NE 4oth Street was sold for 28 million. Miami-Dade property records show the property last sold for $2 million in 2004. 

  • By end of 2016, the 10 square-block district is expected to have more than 120 luxury- brand stores, a boutique hotel, 15 to 20 restaurants, luxury residential condos and lofts, galleries furniture showrooms, as well as large scale public art.

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