Posts in REAL ESTATE
Okan Group Ventures Into Downtown: Turkish Developer Acquires Land for $18.1 Million
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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REAL ESTATENadia BouzidComment
Waterfront Bay Harbor Islands development site hits the market for $11M || via The Real Deal
Waterfront Bay Harbor Islands development site hits the market for $11M || via The Real Deal

The property, which has 150 feet of waterfront, was approved by Bay Harbor Islands for a 30-unit, eight-story building with a pool and cabanas called Akua. The asking price breaks down to $361,800 per approved unit, and about $217 per square foot for the planned 49,909-square-foot building.

The land comes with plans for a project that was designed by Frankel Benayoun Architects, led by architect Markus Frankel. Frankel is designing a number of boutique projects in the two-island town, which has been flooded with proposals for roughly 30 new condo and townhouse projects. Commercial and multifamily development is only allowed on the east island.

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REAL ESTATENadia BouzidAKUA
Bal Harbour Shops expansion plans put on hold as village reviews new submission || via The Real Deal
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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REAL ESTATENadia Bouzid
Miami Beach gives another thumbs down to height increase for mixed-use Sunset Harbour project || via THE REAL DEAL
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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REAL ESTATENadia Bouzid
70 Leases Have Already Been Signed At Midtown Five, Exceeding Developer Expectation || via THE NEXT MIAMI
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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REAL ESTATENadia Bouzid