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 […]
“Stuff is going to start moving at reset values” – from Commercial Observers Future Forward Miami Conference
South Florida is poised to weather an expected recession better than most parts of the United States, according to real estate executives who spoke Thursday at Commercial Observer’s Future Forward Miami conference. “Unlike the rest of the country, the commercial office market here is strong, rising, with significant pent-up demand,” said Don Peebles, chairman and […]
Related Group and 13th Floor Investments pull out of $500M condo termination buy
Related Group and 13th Floor Investments’ blockbuster Miami Beach deal is no more. Back in March, the joint venture offered $500 million to buy out the Castle Beach Club, an oceanfront condominium building in Miami Beach built in 1966. The proposed deal would have effectively become Miami’s most expensive land trade, surpassing Citadel’s $363 million […]
Edgewater 1.5 acre dev site sells for $22.5M or $344psf
Oak Row Equities and Lndmrk Development, prominent Miami-based developers, are teaming up in Edgewater to build a luxury rental property. The joint venture paid $22.5 million for a 1.5-acre site at 401 NE 29th Terrace, just east of Biscayne Bay, the firms announced. “This is one of the last remaining continuous parcels in Edgewater East […]
Miami and Florida Rental Rates normalizing
October 2022 Miami Rent Report by ApartmentList.com reposted here Welcome to the October 2022 Miami Rent Report. Miami rents declined over the past month. In this report, we’ll evaluate trends in the Miami rental market, including comparisons to cities throughout the metro, state, and nation. Miami rents declined over the past month Miami rents have […]
Downtown Miami New Construction Esler Refinances with $235M debt from FBRT
A New York lender announced that it closed a $235 million refinancing for the newly built Elser Hotel & Residences in Downtown Miami. The lender is Franklin BSP Realty Trust (FBRT), a publicly traded real estate investment trust specializing in commercial real estate debt. It was formerly known as Benefit Street Partners Realty Trust. The […]
Florida Insurance premiums set to increase, impact housing prices negatively due to Hurricane Ian
Florida has hardly begun assessing the destruction that Hurricane Ian unleashed, but it’s clear that the damage to homes and lives, to businesses and infrastructure, is catastrophic. And while every Floridian knows that the next hurricane may be just around the corner, that doesn’t mean everyone is prepared for the brunt of its force — […]