RAM buys new construction apartments at $324K and $301 per unit in Little Havana
Rental Asset Management (RAM) is expanding its Little Havana fiefdom, paying $31.1 million for a nearly finished residential tower next door to a similar building it bought earlier this year, property records show. The 14-story property, located at 590 W Flagler Street, two blocks west of the Miami River, will feature 96 units. Construction began […]
Miami Rent Report: December 2022
Miami Rent Report: December 2022 By Apartment List Welcome to the Apartment List December 2022 Rent Report for Miami, FL. Currently, the overall median rent in the city stands at $1,940, after falling 0.6% last month. Prices remain up 9.6% year-over-year. Read on to learn more about what’s been happening in the Miami rental market […]
Rent Control – 2022 NMHC Midterm Election Report – Orlando voted for RENT CONTROL
2022 NMHC Midterm Election Report by NMHC November 17, 2022 The dust is still settling from the midterm elections. But with election results finally in focus, the apartment industry should take note of various changes that are coming to Congress, governorships and state legislatures—many of which will have a direct impact on our industry. […]
Boca Raton 297 unit new construction complex secures $108.5M or $365K per unit
Lincoln Property Company refinanced its newly acquired multifamily property in Boca Raton, Fla., with $108.5 million, property records show. The 11-acre property, Amalta Broken Sound Apartments, holds 297 units, including six villas, where monthly rents range between $2,874 and $11,878, per Apartments.com. The complex is at 5400 Broken Sound Boulevard NW, adjacent to Yamato Road […]
43 Story tower on just 8,428sf lot built in 2021 – part of new Miami Worldcenter
The Moinian Group scored $185 million from Square Mile Capital Management to refinance its residential property inside Miami Worldcenter, the mega-development in the heart of the Magic CIty. The 43-story tower, Bezel Miami, features 434 units, which are nearly all leased. The 355,435-square-foot building hit 90 percent occupancy in September, said a representative for Moinian. […]
Land for sale in Miami for $1B, yes, that’s right, billion
Malaysian casino operator Genting Group is looking to sell a prime waterfront parcel in central Miami for over $1 billion. The 15.5-acre site offers 800 linear feet of direct frontage on Biscayne Bay. It’s located at 1431 N Bayshore Drive, just east of the Adrienne Arsht Center for the Performing Arts, between the MacArthur and […]
Cushman & Wakefield’s 2022 2nd Half Multifamily Report is out
Check out Cushman & Wakefield’s later Multifamily Report
Another Supertall 1,000+ ft tower coming to Miami from Tibor Hollo Family
The Hollo family’s long-planned supertall tower in Downtown Miami is one step closer to getting underway. The family, which runs Florida East Coast Realty (FECR), vacated its longtime headquarters at 100 South Biscayne Boulevard to make space for a mixed-use skyscraper that’s 1,049 feet tall. FECR has now moved into an 8,500-square-foot office on the […]
South Florida Quickly Cooling Multifamily Market
South Florida has been one of the hottest rental housing markets in the nation. But even in sunny Miami-Dade, Broward and Palm Beach counties, higher interest rates have cast a shadow on debt-funded acquisitions of apartment buildings and multifamily development. Despite the fundamental strengths of South Florida, including low unemployment and a growing population, the […]
Miami’s First Supertall Tower Breaks Ground
As reported by the Wall Street Journal: Miami’s Waldorf Astoria residential tower, poised to be South Florida’s tallest skyscraper, is a test case for new techniques meant to enable the more than 1,000-foot tall building to withstand hurricane-force winds and remain stable near sea level. Developers broke ground on the building’s foundation in downtown Miami […]