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Brickell Avenue in Miami is growing fast, but is it too much?
Philippe Houdard could be Brickell’s future: He has gone car-less. Houdard, the co-founder of office-space sharing firm Pipeline, sold his Honda Accord when he moved to Brickell from South Beach last year. He walks when he goes to dinner. He takes Uber to meetings. “Brickell has the density to do everything I need within several blocks,” Houdard said. “It’s completely changed.” Just a few years ago, Miami’s financial district emptied into a ghost town when law firms and banks shut their doors at night. You could roll a bowling ball down...
read moreSpanish Billionaire buys Miami’s iconic Southeast Financial Center for $500 million
Buying a whole block on Miami Beach’s Lincoln Road simply wasn’t enough for Spanish billionaire Amancio Ortega. The Zara owner has yet again smashed a Miami record with the $500 million purchase of downtown’s Southeast Financial Center, an iconic office building that seller JPMorgan Asset Management began shopping around earlier this year. In a single deal, Ortega has closed on the largest commercial purchase in Miami this year, blowing past the previous high set by Sumitomo Corp. in May when the Japanese conglomerate burst back onto the...
read moreRedevelopment planned in Miami’s Little River
A group that paid $10 million for property in Miami’s Little River neighborhood plans to redevelop it. AHOS 2 LLC, owned by Avra Jain and Joe Del Vecchio, sold the 178,810-square-foot office building at 7942 N.E. 2nd Ave. to MD 79th Holding LLC, managed by Robert Daniels in Miami Beach. Metro 1 Commercial’s Alfredo Riascosrepresented the sellers while Devlin Marinoff of Whitehall Realty and Metro 1 Commercial’s Tony Arellano represented the buyer. Click Full Article for more details. Full Article Save Article Article Feedback Share...
read moreFreddie Mac planning appraisal free mortgages
Giant mortgage investor Freddie Mac plans to dispense with traditional appraisals on some loan applications for home purchases, replacing them with an alternative valuation system that would be free of charge to both lenders and borrowers. Can computers, big data and advanced analytics replace real live humans when it comes to accurately valuing the home you want to buy? One of the two largest financial players in U.S. real estate thinks so and is preparing to introduce changes that could prove momentous — and highly controversial. Click...
read moreMiami a top homebuilding market to watch in 2017
When it comes to homebuilding, Miami is a top 75 market to watch in 2017, according to a joint report from PwC and the Urban Land Institute. The city’s No. 62 ranking comes as little surprise, as Miami, while continuing to see strong residential construction spending, has been losing some of its heat. During the month of September, builders spent more than $267 million on new projects, down 14 percent from the same time last year, while year to date, spending was down 4 percent to $4.9 billion. Those numbers are still higher than several...
read moreA Sneak Peek At Miami’s Brickell City Centre
MIAMI (CBSMiami) — Welcome to Miami’s newest retail destination – the Brickell City Centre. It’s 4.9 million square feet -spanning three city blocks. Swire properties purchased the land eight years ago and it’s been under construction for about four years. “It’s a very exciting time. We’re 91 percent leased and have active negotiations on what little space we have left so its very exciting,” said said Steve Owens, President of Swire Properties. At Tuesday’s media first look press tour, it was plain to see the center is still very much under...
read moreFlorida Overtakes Texas As Third Most Popular State For The Exclusive Forbes 400 Club
Last year billionaire hedge fund manager David Tepper held the title of New Jersey’s richest. But he has since moved (along with his $19 billion firm) to Florida, a state with no estate or personal income tax. Advantageous for him, perhaps: he logged about $1.2 billion in earnings in 2015. Not so much for the Garden State, as it might suffer a budget shortfall once Tepper stops contributing to its tax roll. Last year billionaire hedge fund manager David Tepper held the title of New Jersey’s richest. But he has since moved (along with his $19...
read moreSaks Fifth Avenue President Marc Metrick calls Miami the New York of the South
Most of the stores in Brickell City Centre’s 500,000-square-foot mall weren’t quite ready to ring up sales when the project opened its doors on Thursday, but anchor Saks Fifth Avenue had its 140 employees prepared to greet customers on day one. Saks Fifth Avenue President Marc Metrick flew down from New York to witness the seventh store opening by his company this year. The luxury retailer, a subsidiary of Hudson’s Bay Co. (Toronto Stock Exchange: HBC), has completed most of the interior buildout of the three-story, 107,500-square-foot store...
read morePopulation growth helping state economy recover
WINTER HAVEN — Florida’s unemployment rate and job growth are outpacing their national counterparts, while the U.S. economy continues to recover at a faster clip than the rest of the world. Those were among the topics of conversation at the 13th Annual East Polk Economic Summit. The event took place Wednesday morning at Polk State College’s Winter Haven campus and was highlighted by presentations from a pair of speakers. Allen Sukholitsky is a vice president and senior market strategist with Goldman Sachs Asset Management in New York, and his...
read more25 Old-School Miami Restaurants, Bars and Markets Still Worth Visiting
Miami might be a young city in the grand scheme of things — it was only incorporated in 1896 — but we still have plenty of spots that have some history behind them that also serve solid food and drink. We’ve rounded up the top 25 places in the Magic City worthy of checking out where you can can get a heaping side of nostalgia along with a delicious meal and beverage. Click Full Article for more details. Full Article Save Article Article Feedback Share Article
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