Waterfront North Bay Village Co-Op Buyout Closes for $48M
As reported by the Commercial Observer: Harry Macklowe completed the buyout of a waterfront co-op building in North Bay Village, the first major purchase for a larger assemblage in the island town between Miami and Miami Beach. The New York-based developer paid $47.7 million for the Biscayne Sea Club, a 51-unit property between 8000 and […]
Palm Beach County Takes ‘Wall Street South’ Pitch to Times Square
As written by Jeff Ostrowski from Commercial. Observer In the latest effort by Florida economic developers to pry financial firms away from Wall Street, the Business Development Board of Palm Beach County this week made its pitch on three digital billboards in the heart of Manhattan. The three 15-second ads featured the phrase “Wall Street […]
The median home price in Miami-Dade hit a record high of $631,670 in July
Miami Home Prices, Household Income Continue to Rise with Wealth Migration; More Inventory Needed for High-Demand Market originally written by Chris Umpierre on MiamiRealtors.com August 22, 2023 Miami Home Prices, Household Income Continue to Rise with Wealth Migration MIAMI — Miami-Dade single-family pending sales and total South Florida showing appointments increased year-over-year, according to July […]
South Florida Mid-Year Report out from Calum Weaver
Calum Weaver has released his detailed report on South Florida Multifamily Report, Read it here: 2023 Mid Year Report – South Florida Multifamily
One Brickell City Center Development Update: New Permit Applications Filed
August 15, 2023 One Brickell City Center, a significant development in Miami’s financial district, is progressing steadily with recent activity concerning its permitting. As a planned 59-story office tower set to reach a height of 977 feet, One Brickell City Center is slated to become a prominent fixture in the city’s skyline. Fence Permit Application […]
Investing in the Future of Miami’s Soccer Scene & Stadium
Let’s talk about some exciting developments in Miami’s soccer scene and how it’s intertwined with the anticipated stadium project. Back in September 2021, Ares made a solid play, investing a cool US$150 million in Inter Miami. I’ve kept a close eye on their moves, given my interest in the growth of Miami. Not only did […]
South Florida: The Epicenter of New Construction and Real Estate Revolution
Hey there, it’s Tim. Today, I’m going to let you in on a little secret that’s not so secret anymore: South Florida is the place to be! You read it right. South Florida has emerged as the undisputed leader in new construction across the nation, revealing the undeniable demand and robust strength of its market. […]
Another Large Deal in Miami closes, the market is as hot as the temps
Michael Shvo has teamed up with Deutsche Finance America and German pension funds to score a fantastic $190 million loan. BH3 Management’s Debt Opportunity Fund II stepped up with the loan. They’re going to build a beautiful 17-story condo tower. Peter Marino and Kobi Karp are behind the design. They’re not just stopping there, no. […]
Abnormally high property insurance cost creates buying opportunities where property value can be gained as insurance costs revert back towards historical means
The real estate and construction sectors are grappling with dramatically rising insurance costs. Factors such as increased replacement costs, inflation, and rising material costs have sent insurance rates soaring. For instance, replacement costs for new projects have leapt 40% over the last four years. Nationwide, commercial real estate is feeling the pressure, especially in high-risk, […]
IRS supported wealth migration trends into Florida
By: Ted Dabrowski and John Klingner from Wirepoints Illinois, New York and California continued their streak as the nation’s biggest losers of residents and their wealth to other states, according to a Wirepoints analysis of newly-released Internal Revenue Service migration data. Texas and Florida continued to be the nation’s big winners. The latest IRS state-by-state […]