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.
Read MoreYesterday 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.
Read MoreBal 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.”
Read MoreMetro 1, the commercial real estate brokerage led by Tony Cho, has expanded to Palm Beach County through a merger with Sycamore Realty Advisors, led by Mark Roberto and Frank Fausone.
Read MoreA 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.
Read MoreThis 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.
Read MoreMidtown 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.
Read MoreCamilo 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.
Read MoreBiscayne 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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Landlords and real estate brokers planning to rake in rent money from pot dispensaries, in the wake of Florida voters approving medical marijuana by 71 percent, will have to wait a little longer in Miami Beach.
Read MoreAs South Florida dealt with the stunning results of the presidential election, Miami’s real estate industry looked toward the future, mostly with optimism. For developers and brokers, a Donald Trump presidency is good for business, they told The Real Deal.
Read MoreTwo 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.
Read MoreA major owner in Wynwood sold a retail building to Moishe Mana for $16.42 million.
Lombardi Properties sold the 18,764-square-foot building at 350 Northwest 24th Street and 301 and 311 Northwest 23rd Street in Wynwood, Daniel Lombardi told The Real Deal. The deal closed on Friday.
Read MoreOffering 1, 2, and 3 bedroom layouts; Prices go from $1,650 to $2,350 for a three-bedroom unit. However they say you have to go on a waitlist for now. Melody has been a success.
Read MoreNow, 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.
Read MoreSkyRise Miami || A hospitality group owned by a partnership between the New York Yankees and Dallas Cowboys announced Monday that it’s signed an investment and management agreement for Berkowitz’s project.
Read MoreTheir landlords are Avra Jain and Matthew Vander Werff. Jain is famous for renovating motel properties within theMiami Modern Biscayne Boulevard Historic District, including the Vagabond Hotel. Vander Werff is a former executive with the land acquisition company Fifteen Group.
Read MoreFlippers made a median of $65,000 per property during first quarter
Read MoreThe property was last sold for $900,000 in 1996. (Talk about a nice profit)
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