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Florida Jumps Texas as third most popular state among billionaires- Forbes
Florida’s wealthiest residents have some new neighbors. An influx of the ultra-rich has boosted Florida to third place for popularity among billionaires in the Forbes 400 list. Nine new billionaires from the Forbes 400 are calling Florida home this year, raising the state’s roster of the ultra-wealthy to 40. That’s also seven more billionaires on the list than Texas’s 33, the lowest number the state has seen since 2000, according to Forbes. And as one might expect, many of Florida’s richest made their billions from real estate. By The Real...
read moreCrest Hotel Suites Miami Beach sells for $24 million
Blue Road is buying the Crest Hotel Suites in South Beach for $24 million, as it boosts its collection of boutique properties, The Real Deal has learned. The deal is expected to close this week, Blue Road principals Jorge Savloff and Marcelo Tenenbaum told TRD. The Crest, at 1670 James Avenue in Miami Beach, has two adjoining buildings with a total of 69 units, including suites and hotel rooms. The Art Deco property also has a pool and restaurant called Café de Crest with a liquor license, Tenenbaum said. The price breaks down to $347,826 per...
read morePopulation of downtown Miami grows by a third in six years
Young professionals are increasingly making their homes in the central business district, says a new report by Miami’s Downtown Development Authority: the population has increased 33% since 2010 “and the majority of the population within downtown Miami are highly educated, young working professionals.” Fully 45% are aged 25-44, and more than 50% hold a college degree, the report says. For study purposes, the authority defined downtown as a 3.8-square-mile area between Biscayne Bay and I-95 on the east and west, and between the Rickenbacker...
read moreBest August in History for Miami Single-Family Homes
MIAMI — The Miami single-family home market enjoyed its best August in history, breaking a 22-year record for the most ever August single-family home sales as dollar transaction volume and median prices posted double-digit gains, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system. Miami-Dade County set an all-time August record with 1,239 single-family home sales, eclipsing the previous August record of 1,232 set in 1994. Last month’s sales total is an 8.7 percent increase...
read moreMiami is the third most fun city in America!
While Miami may not fare well nationally in important facets of life like safety and affordability, the city clearly knows how to have a good time. Fresh of being ranked the eighth best party city in the world a week ago, Miami just took the No. 3 spot nationally in 2016’s Most Fun Cities in America, according to a study by WalletHub. Their methodology was rather extensive, utilizing 51 relevant metrics—things like the number of ice cream shops, beaches, and movie theaters per capita, in addition to the obvious ones like the prominence of...
read moreBayside Marketplace Downtown Miami new look
The operators of downtown Miami’s Bayside Marketplace have unveiled a freshened-up look as part of a long-awaited renovation of the nearly 30-year-old festival-style mall and tourist attraction, which for years had been looking tired and even shabby in spots. The extensive face-lift, set to start soon, is the first phase of an overhaul and expansion of the publicly owned waterfront mall that was approved by the Miami commission and city voters two years ago. The renovation plan, drawn up by Miami’s Zyscovich Architects, covers the mall’s...
read moreWhy are Fashion’s biggest brands Getting into Residential Design in Miami
Some of fashion’s most iconic brands are collaborating on sky-high Miami buildings with runway-worthy aesthetics. The fashion house Fendi showed valuable foresight in purchasing its three-acre oceanfront property in Surfside well before others saw the town’s amazing potential. Developed in partnership with the Château Group, the Fendi Château residences, which range in price from $6 million to $25 million, feature interiors designed by Fendi Casa, the brand’s custom cabinetry, and Gaggenau appliances, as well as high-end amenities such as...
read moreHow Miami’s Hospitality Industry Is Helping Increase Tourism to the City
It’s no secret that the industry driving South Florida’s billion-dollar tourism business is hospitality. On and off the beach, Miami is teeming with new hotels—some of them global brand expansions, some of them North American debuts. Attracted by the city’s demographics (including its diversity), many luxe international brands, such as Argentina’s Faena, Spain’s ME by Meliá, Singapore’s Como Hotels and Resorts, and Swire’s Hong Kong-based East, have recently made their US debuts in Miami. Hotels are “just exploding right now,” says Paul Gray,...
read moreCrescent Heights wants Miami Beach to put light rail/street car transit hub at 500 Alton
Crescent Heights wants Miami Beach to place the hub of the city’s proposed light rail or street car transit system in the base of the developer’s residential tower. The proposal would also make the Miami Beach-based developer’s planned tower at 500 Alton Road taller and potentially more appealing as living space. Led by Russell Galbut and Marisa Galbut, Crescent Heights is currently building 323 apartments, 63,000 square feet of commercial space, and a clinic for Baptist Health South Florida at 600 and 700 Alton Road. The site at 500 Alton...
read moreUM announces plan for $14 million dollar indoor football facility
The University of Miami on Friday announced plans to build an indoor football practice facility at a cost of $34 million and a Soffer family donation covering about 40 percent of the cost, the largest ever pledged to the UM athletic department. Billionaire developer Jeffrey Soffer and his family pledged to donate $14 million to the indoor football facility development, which will be named after his mother Carol Soffer. Jeffrey Soffer and his sister Jackie lead Aventura-based real estate development firm Turnberry Associates. The Carol Soffer...
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