Coconut Grove Playhouse script gets major rewrite
The script has been rewritten again in the seemingly endless drama over the fate of the closed and dilapidated Coconut Grove Playhouse. The latest plot twist has a Miami-Dade commissioner rejecting the idea of allowing a third party time to raise enough cash to rebuild a large theater. The state owns the cavernous and historic playhouse and has leased it to the county and Florida International University. The county’s approved plan to restore the property includes a new 300-seat theater to be operated and programmed by GableStage Inc. County...
read moreFormer Miami Herald site will become home to live events
With its plans for a casino hotel on hold, Genting subsidiary Resorts World Miami signed a multiyear deal with Loud and Live to hold events on the former site of the Miami Herald in downtown Miami. The 14.6-acre site at 1 Herald Plaza hosted the inaugural Art Miami and Context Art Fair in early December, during Art Basel. Genting cleared the waterfront site and paved it to hold the event. Resorts World Miami hopes to stage more events there – such as music, entertainment and sports – using temporary structures. “Resorts World has been...
read more$500B global asset manager opens office in Miami
A global investment manager with nearly $500 billion in assets under management will open a new office in Miami. Boston-based MFS Investment Management (NYSE: MGF) announced Monday plans to open a Miami office that will serve as a regional hub for sales and client services for MFS International, Ltd., (MIL) the firm’s non-U.S. fund business. “Our Miami office will allow us to deepen existing client relationships, provide a higher level of service and more effectively identify new business opportunities throughout the...
read moreForeign investors pour money into Miami, LA and Manhattan luxury homes
Foreign buyers dropped $7.5 billion on homes in the U.S. costing over $1 million, with a major chunk of those purchases in Miami, Los Angeles, and Manhattan, according to a new report. The report, which calculated purchases between March 2016 and March 2017, saw a nearly three-quarter jump in total foreign investment in U.S. luxury real estate from the 12 months prior. Luxury brokerages Beauchamp Estates and Leslie J Garfield & Co., compiled the data. Almost 40 percent of the purchases were done in those three cities, with Miami...
read moreAlong Miami River, Derelict Bait Shops Give Way to Luxury Condos
MIAMI — As it meandered through downtown, the Miami River was for years a slovenly mess, its shores lined with small, scrappy shipyards, bait-and-tackle shops and low-rent marinas with rotting piers. When decrepit vessels sank, they were often left where they lay, hulls protruding from the oily water. On the river, just over five miles long and formed eons ago as drainage for the huge swamp that became the Everglades, rum runners and Coast Guard officers exchanged gunfire in the reckless days of Prohibition. During the drug-ridden...
read moreNew high reached in foreign investment into US luxury residential real estate
A report from Beauchamp Estates, in association with Leslie J Garfield & Co, finds that foreign investment into the US luxury residential real estate market has jumped to a new GBP5.78 billion (USD7.48 billion) high with Miami, Manhattan and Los Angeles as the key locations. Entitled ‘US Ultra Prime Real Estate’ the new report focuses on Manhattan, Los Angeles and Miami with analysis by Dataloft, the market intelligence group. The report uses local market intelligence provided by Manhattan headquartered Leslie J Garfield & Co and...
read moreMiami makes shortlist for Amazon HQ2
A surprise package arrived Thursday morning. Amazon has announced its shortlist of 20 proposals for its $5 billion second headquarters, with New York, Miami and Los Angeles all making the cut. There were 238 proposals from around the U.S., Canada, and Mexico for HQ2, although all 20 finalists are American, except for Toronto, Ontario. In the Miami area, proposals were submitted for Overtown, Downtown Doral and other neighborhoods. Overtown was the choice of Mayor Tomás Regalado, who called it “the only place” in the city for Amazon, given...
read moreInternational investment in U.S. real estate on the rise
From Washington state to Miami, real estate property is being purchased in increasing numbers from overseas buyers with money in a strong but slowing global economy. Wealth Migrate marketplace expects investments to expand in 2018. The KPMG FinTech 50 company is branching out its international operations “driven by investor demand,” it says. Wealth Migrate opened two new offices in the United Kingdome and the United Arab emirates and already has operations in Hong Kong; Shanghai, China; Australia; and South Africa and well as the...
read more2000 Ocean. The First U.S. Project Curated by Minotti
A once sleepy Florida retirement area gears up to offer the ultimate in luxury living. Located between Fort Lauderdale and Miami, Hallandale Beach has typically been known as a beach community popular with retirees. That’s quickly changing as the community is now becoming a high-end real estate hot spot. Over the past 10 years, the average age in the community has dropped from 70 to 45. There’s no other project that epitomizes the area’s evolution more than 2000 Ocean, a 38-story high-rise in the making north of South Florida’s Golden Beach...
read moreHow to close a real estate deal using Bitcoin
In Florida, process requires partial conversion to dollars By Katherine Kallergis | January 31, 2018 08:45AM Daniel de la Vega is a Bitcoin believer. But his faith comes with a catch. As president of One Sotheby’s International Realty, he had seen the potential of the cryptocurrency and others like it to shake up the real estate market. But de la Vega’s research also gave him pause. Concerns over the currencies’ extreme volatility and vulnerability and the potential lack of transparency among cryptocurrency buyers have so far kept him on the...
read more“Bitcoin accepted”: the cure-all for an impossible listing?
An agent in Delaware is betting on crypto to get the job done January 27, 2018 11:58AM Wondering how to attract international buyers or get eyes on an off-beat listing? Agent Michael A. Kelczewski is betting on Bitcoin to draw them in. Kelczewski, an agent with Brandywine Fine Properties Sotheby’s International Realty, is handling a $1.75 million listing of more than 4-acre estate in Newark, Delaware and telling potential buyers they can pay in the cryptocurrency, according to the New York Post. “It’s not easy to purchases houses...
read moreMiami MLS Stadium | Beckham Stadium | Miami Soccer Stadium
Miami’s Major League Soccer stadium may finally become a reality. David Beckham is ready to close on the 3 acres of Miami-Dade County-owned land needed to build the stadium, and he now has an investor to pay for it, the Miami Herald reported. While the county has been ready to negotiate a deal for the Overtown land, Beckham held off, until Los Angeles Dodgers owner Todd Boehly came on board to help back the stadium. The Miami-Dade County Commission could vote on the deal during next week’s meeting, according to the Herald. Commissioner Audrey...
read moreMarch Was Great Month for South Florida Home Sales
Miami-Dade County home buyers were more active than ever in March, and brokers say it’s due to a pattern of price adjustments. About 1,280 single-family homes traded that month, a 9 percent increase from the previous record of 1,168 in March 2016, the Miami Association of Realtors reported. Click HERE to read more.
read moreFrost Museum of Science sneak peek, in Miami
The Phillip and Patricia Frost Museum of Science in downtown Miami allowed the media and special guests to take a preview tour today just days before its opening on May 8. The 250,000-square-foot, $305 million museum at 1101 Biscayne Blvd. was more than a decade in the making after relocating from its previous location in Vizcaya. It joins an impressive list of arts and cultural venues in close proximity downtown, such as the Perez Art Museum Miami, the Adrienne Arsht Center for Performing Arts and American Airlines Arena. City leaders and...
read moreStockholm-Miami flights to launch in October
Scandinavian Airlines (SAS) on Oct. 29 will launch a new direct route between Miami and Stockholm, Sweden. The airline said the new flights complement its Miami departures to Oslo, Norway and Copenhagen, Denmark. “We are thrilled that SAS has chosen to expand its presence at Miami International Airport and launch first-ever nonstop service between Stockholm and Miami,” said Miami-Dade Aviation Director Emilio T. González. “With SAS’s flights from MIA to Oslo and Copenhagen that began in 2016, as well as recently launched nonstop service...
read moreLongeveron Begins Enrollment of Second Cohort of Phase 1
Trial of Allogeneic Mesenchymal Stem Cells to Treat Alzheimer’s Disease Patients MIAMI, May 10, 2017 /PRNewswire/ — Longeveron, a regenerative medicine company, today announced that their Phase 1 Alzheimer’s disease trial will proceed with enrollment at the recommendation of an independent Data Monitoring Committee (DMC) which reviewed data from the trial’s safety run-in phase. The clinical trial is designed to assess the safety, tolerability and efficacy of intravenous infusion of two different doses of Longeveron...
read moreTwo more Brightline passenger trains headed our way!
All Aboard Florida soon will take delivery of the third and fourth train for its Brightline passenger rail service in South Florida, which the company expects to introduce in July. Introductory Brightline service is scheduled to begin between West Palm Beach and Fort Lauderdale in late July, and initial service to Miami is scheduled to start in late August. All Aboard Florida expects to hold a grand opening and officially launch the full three-city rail service in September. Crews are bringing Brightline’s third and fourth trains on a...
read moreTelemundo And Universo “Shift” Hispanic Media With Innovative Formats And Original Programming
For The 2017-18 Upfront Season For the First-Time Ever, Telemundo will Present the Spanish-language Broadcast of the 2018 FIFA World Cup Russia™ Next Season. Networks to Roll-out More Than 850 Hours of New Primetime Content across Diverse Formats Including Super Series™, Mini-series, Realities and Digital Content. Networks to Roll-out More Than 850 Hours of New Primetime Content across Diverse Formats Including Super Series™, Mini-series, Realities and Digital Content. In Conjunction with NBCUniversal’s Upfront Presentation, Telemundo...
read moreBig changes planned for Jungle Island in Miami after $60M sale to ESJ Capital Partners closes
The $60 million sale of the Jungle Island amusement park on Miami’s Watson Island has closed, and new owner ESJ Capital Partners plans significant improvements to attractions and banquet facilities. PJG Watson Island, led by Bernard Levine, sold the animal-themed park and its 18-acre ground lease with the city to an affiliate of Aventura-based ESJ Capital Partners, led by Arnaud Sitbon and Gabriel Amiel. The deal received approval from the city, the county and the U.S. Department of Housing and Urban Development, as all three government...
read moreEstate Investment Group proposes Soleste Bay Village in Palmetto Bay
Palmetto Bay will consider approving the second mixed-use project in its new Downtown Urban Village district, as developer Roberto Suris has proposed an apartment/retail building called Soleste Bay Village. In 2015, the municipality rezoned an area for greater density and mixed uses to encourage more development. The first project approved under that zoning was the Altlantico at Palmetto apartments and retail, by Florida Crystals subsidiary FCI Residential. On March 20, the village council will hold a zoning hearing to consider plans for...
read moreHyperloop One coming to Miami?
The Hyperloop One could eventually come to Miami, creating a 26-minute route to Orlando, which would be a fraction of the four hours it would take to drive and less than half the hour it’d take to fly. Of the 2,600 submissions in a global challenge from earlier in the year, among the 11 U.S. finalists is the Miami-to-Orlando route. The process works by using a linear electric motor to move an electromagnetically levitated pod through a tube at speeds up to 620 miles per hour with no turbulence. Hyperloop One’s Senior VP Nick Earle says they...
read moreMiami is still the most popular U.S. market for international buyers
South Florida is the most-searched U.S. market by international consumers, and Canadians are the ones most interested in the locale, according to the Miami Association of Realtors. The Miami metro area, including Ft. Lauderdale and West Palm Beach, came in as the No. 1 U.S. market for international consumers in January 2017. Miami has ranked No. 1 in 12 of the past 14 months. A closer look South Florida has ranked as a top-five market for buyers in nine of the world’s ten-largest regions, ranking No. 1 for the most searched market in...
read moreGoldman Properties receives $$22 million dollar construction loan for Wynwood DS parking garage in Wynwood Miami
An affiliate of Goldman Properties obtained a $22 million construction loan to fund a mixed-use project in Miami’s booming Wynwood neighborhood. Miami-based Sabadell United Bank awarded the mortgage to Wynwood DS LLC, an affiliate of Miami Beach-based Goldman Properties, for the 21,250-square-foot site at 360 and 370 N.W. 27th Street plus 2660 N.W. 3rd Ave. Goldman Properties is one of the main developers that transformed Wynwood from an industrial zone into a district of arts, dining and retail. Now, more residential and office buildings...
read moreCMX theater by Cinemex opens at Brickell City Centre in Miami
The first movie theater has opened in Miami’s booming Brickell neighborhood: CMX at Brickell City Centre. The dine-in movie theater is the first location in the United States for Mexico-based Cinemex, the sixth-largest theater chain in the world with over 600 locations. More locations are planned, including in Broward County. The 35,759-square-foot space was designed not just as a place to watch movies on its 10 screens, but as a hangout for before or after the shows. CMX has two bars stocked with domestic, international and craft beers, wine...
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