Posts tagged News
Okan Group Ventures Into Downtown: Turkish Developer Acquires Land for $18.1 Million

Okan Group's acquisition of land in Downtown Miami represents a significant milestone in the city's ongoing evolution as a global real estate destination. With its proven track record and unwavering commitment to excellence, Okan Group is well-positioned to make a lasting impact on Miami's skyline and community. As the project takes shape, all eyes will be on Okan Group as it brings its vision to life and contributes to the continued growth and vibrancy of Downtown Miami.

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Coconut Grove Arts Festival 2017

Yesterday Coconut Grove hosted for the 54th Time its Annal Arts Festival.

Produced by Coconut Grove Arts and Historical Association, Inc., a non-profit community organization under the direction of a board of directors and full-time staff.  The Coconut Grove Arts Festival® showcases works of 360 internationally recognized artists selected from thousands of applications.

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Bal Harbour Shops expansion plans put on hold as village reviews new submission || via The Real Deal

Bal Harbour Mayor Gabriel Groisman made the announcement at Tuesday night’s Village Council meeting, saying he had received a letter from Whitman Family Development withdrawing its proposal and requesting a meeting where new expansion plans could be discussed. Whitman Family Development submitted new plans last Friday for a planned expansion of Bal Harbour Shops. Grossman said his initial impression was that any new plan “would be a smaller plan than before.”

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Investor buys Brickell gas station near Miami River for $8M || via THE REAL DEAL

 A Miami investor paid $8 million for a corner gas station across the street from the Chetrit Group’s $1 billion Miami River project, adding to his holdings in the Brickell area. 

Records show broker and investor Simon Karam’s City Block Properties LLC spent $378 per square foot for the 21,158-square-foot corner lot at 720 Southwest Second Avenue near Brickell City Centre. The seller is Five Group Corp., a company controlled by Eduardo Atienza, Manuel Alegria, Antonio Moreno and Basilo J. Folgueira.

The deal is another indication of developers acquiring land amid the slowdown in Miami’s luxury market, with most holding off on launching new projects until sales pick up again.

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Miami Beach gives another thumbs down to height increase for mixed-use Sunset Harbour project || via THE REAL DEAL

This was the second time Deco Capital Group had proposed a height increase for eight lots it acquired in 2014 for $14 million. New York-based RWN Real Estate Partners, backed by billionaire Marc Rowan, is a majority partner in the venture. The planned building would have had 15 luxury condos on top of premium retail, overlooking Maurice Gibb Park.  

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70 Leases Have Already Been Signed At Midtown Five, Exceeding Developer Expectation || via THE NEXT MIAMI

Midtown Five opened on January 1 after receiving a Temporary Certificate of Occupancy, and demand for apartments there is proving to be strong.

There are already 70 signed leases in the 400-unit apartment building, a developer spokesperson told TNM. Those numbers place the building ahead of the developer’s schedule for leasing, and are exceeding the typical pace for a building of this size, they say.

About three dozen tenants are now living in the building, just days after the TCO was issued.

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Historic Brickell Castle to Host Fine Dining Italian Restaurant

Camilo Miguel Jr., the founder and CEO of Mast Capital, envisions this site as the home for a top-tier restaurant. His acquisition of the property in August 2013, for $2.575 million, was followed by rezoning for retail and commercial uses, along with extensive upgrades that included electrical, air conditioning enhancements, and various renovations.

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Just for three weeks, cars will make way for people on Biscayne Boulevard downtown || via Miami Herald

Biscayne Boulevard in downtown Miami, the city’s foyer, functions today as little more than a funnel for cars and trucks: eight or nine lanes of careening traffic and six blocks of median parking leave scant room for people, at a time when thousands of new residents are moving into the neighborhood’s growing concrete jungle.

What if the proportions were reversed? Would it be better instead to turn over much of that valuable public space to people, to pedestrians and cyclists and basketball players, to diners and playing children and music-lovers?

That’s just what the Downtown Development Authority has proposed, and Miamians will get a taste of how it all might work starting Friday. For three weeks, three blocks of parking under the Metromover guideway straddling Flagler Street will be temporarily occupied by pop-up public plazas enlivened by a program of concerts, movie screenings, dance and yoga lessons, and food and beer tastings.


 

 

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Venezuelan developers launch condo project in Wynwood: WYN 26 || via The Real Deal

Two Venezuelan investment groups have teamed up to launch a new condo project in Wynwood, as the artsy Miami neighborhood continues to attract more residential development.

WYN 26, a 15-unit building with ground floor retail space at 50 and 58 Northwest 26th Street will mark the first development in the United States for the Alvarez Group and the Palmar Group, Enrique Alvarez, a director of the joint entity told The Real Deal. The families, involved in the construction industry, have co-developed and built low-income housing in Venezuela and Panama for 12 years.

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Thor files plans for post office site in Miami’s Design District || via The Real Deal

Now, Thor plans a 57,961-square-foot building designed by Touzet Studio, plans filed with the city of Miami on Friday reveal. The building will have a ground floor, second floor and third-floor rooftop deck. It will have space for six retail tenants, plus 26 parking spaces. The number of retail tenants could end up being more or less, depending on retail demand, a source familiar with the plans told The Real Deal.

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