Porsche Design Tower penthouse with 11-car garage on sale
in Sunny Isles Beach sells penthouse with 11-car garage for $25M Porsche Design Tower, the new Sunny Isles Beach condo that has attracted worldwide attention for its unique car elevator, has sold a four-level penthouse with a garage for 11 vehicles for $25 million. Dezer Development said the unit totals 9,560 square feet of interior space, making the price equate to $2,615 per square foot. It includes a “car gallery” on the 56th floor where the tower’s specially-designed car elevator can transport the vehicles from the ground to the sky-high...
read moreFilm Executive turned Real Estate developer plan workforce housing
Near Miami International Airport, 27@Lincoln office in Coconut Grove. Amanda De Seta once produced indie movies in Los Angeles, but in Miami she has focused on producing homes and commercial buildings as a developer. Her company LointerHome has crafted plans for its biggest projects yet: a workforce housing community of up to 471 apartments just south of Miami International Airport and an office building in Coconut Grove. The company has also entered the short-term rental market. De Seta previously worked as a creative executive for 20th...
read moreFlorida consumer confidence highest level in 15 years
Consumer sentiment among Floridians rose last month to the highest level in 15 years, according to the latest University of Florida consumer survey. The reading of 99 in March was the highest since March 2002 and the second-highest since November 2000. The 5.2-point increase in March followed a dip in February, which ended the month with a revised reading of 93.8. All five of the components that make up the index increased. Perception of one’s personal financial situation now compared with a year ago ticked up four-tenths of a point, from...
read moreMiami Beach retail center on Alton breaks ground
This retail project at 1824 Alton Road in Miami Beach will be anchored by Michaels Stores. The majority of this project is pre-leased. New York and Aventura-based Saber Real Estate Advisors bagged a $22.25 million construction loan for a new South Beach retail development. Property records show FirstBank provided the financing to Saber 1800 LLC for the property at 1824 Alton Road. Saber, led by former Blackstone and Related Companies executive Michael Klinger, also broke ground on the five-story, 110,000-square-foot project. Michaels Craft...
read moreThe very wealthy heading to South Florida
$2,600,000,000. That’s the net worth it takes to be among the top 25 wealthiest Floridians. Most of us can’t imagine that level of wealth. When we printed a similar list just four years ago, it took “only” $1.2 billion to crack the top 25 — less than half of this year’s figure. Even Secretary of Commerce Wilbur Ross, with a net worth of $2.5 billion, missed the cut. Why is that? For one, more of the truly wealthy are gravitating to Florida. As editor Mike Vogel points out, Florida has no state income tax, no city/county income tax, no state...
read moreSteve Wozniak to headline eMerge Americas conference in Miami Beach
The “Wonderful Wizard of Woz” has been announced as the keynote speaker of the fourth annual eMerge Americas conference in Miami Beach. Steve Wozniak, co-founder of Apple Inc. (Nasdaq: AAPL), will headline the June 12-13 convention taking place at the Miami Beach Convention Center. Last year, there were more than 13,000 attendees, 400 companies and 110 startups at the event. Wozniak and the late Steve Jobs are widely known as pioneers of the personal computer revolution and created what is currently the No. 3 company on...
read moreTop Cities For Millennials | Millennial Hot Spots Miami is the second most desired city
Despite a lack of affordable and workforce housing, Miami just ranked as the second top city for millennials. Realtor.com’s list of millennial hot spots was led by Salt Lake City, Miami, Orlando, Seattle, Houston and Los Angeles. The report looked at the largest 60 markets in the country and compared the share of millennial page views to the national average from August to February. Millennials between the ages of 25 and 34 represent 13.1 percent of the Magic City’s population. Tourism and entrepreneurship attracts millennials to Miami,...
read moreSouth Florida poised to benefit from Trump’s $1 trillion infrastructure plan
South Florida’s goal to transform into a car-optional region could receive a sizable boost should the Trump administration’s proposal to invest $1 trillion into America’s infrastructure turn to reality, says a local infrastructure expert. A direct beneficiary of the capital injection would be Coral Gables-based Florida East Coast Industries, whose passenger rail project Brightline could be enhanced by improved public resources, says attorney Mitch Bierman, a partner with Weiss Serota Helfman Cole & Bierman. Brightline will run...
read moreCruise line executives remain bullish about industry growth
The cruise industry has come a long way in 10 years and leaders of major lines Tuesday predicted more growth in the foreseeable future provided no major geo-political or cruise-related incidents derail the momentum. This year, 25.3 million people are expected to take a cruise globally, up from 15.8 million people in 2007, marking a 61 percent growth in cruise passengers over the decade, according to the Cruise Lines International Association, the leading industry trade group. On Tuesday, during the opening session of the Seatrade Cruise...
read moreCity National Bank of Florida sells Miami Beachmoffice to Pacific Star Capital
The deal includes two acres of land. City National Bank of Florida sold its Miami Beach branch and office building to a commercial real estate firm for $24.59 million. The Miami-based bank, a subsidiary of BCI in Chile, sold a three-story and a six-story office building to Oliveira Plaza Associates LLC, an affiliate of Pacific Star Capital, which is based in Santa Monica, California and has an office in Miami. The property has 81,252 square feet of offices, which were constructed in 1948 and 1972, plus a drive-thru. The deal covered… Click...
read moreScience Museum Is Ready To Open In May, With 700K Annual Visitors Expected
Finally, the Frost Museum of Science has opening date. The $305 million museum will open to the public for the first time on May 8 after years of planning and construction. The highlights of the museum include a three-level aquarium, and a cutting-edge planetarium. According to the Herald, 700,000 visitors are expected annually. Annual memberships will cost $65 for an individual or $145 to $195 for families, with single day tickets $28 for adults and $20 for children. Click through for more details.
read moreWhat is happening with the worlds ultra wealthy?
From the New York website: The number of ultra-high net worth individuals — those with assets of $30 million or more who’ve got the funds to purchase the world’s most desirable properties — jumped 42 percent over the past decade to 193,000 worldwide, according to a new Wealth Report from Knight Frank. New York City is home to more than 6,500 of these individuals, more than any other city in the world, the report shows, and the city is poised to see that number swell to over 8,500 by 2026. On an annual basis, that’s 8,225 new UHNWIs each year...
read moreBal Harbour Shops sweetens offer to village in drive for expansion
The owner of the Bal Harbour Shops has modified its $400 million expansion plans to provide benefits for the village of Bal Harbour, including the construction of public buildings and donated land. Whitman Family Development said its proposed development agreement would provide more than $100 million in benefits to the village. In exchange, it wants approval to expand the mall by 340,387 square feet on its current footprint. The Bal Harbour Shops already totals 463,477 square feet, so this would be a major expansion. The developer would add a...
read moreMiami to get a Chinatown, and what that could mean
Most major cities have Chinatowns – Chicago, Los Angeles, New York. So why not Miami? The City had the same thought last year in February when it passed a resolution designating the stretch of Northwest Seventh Avenue that runs between 119th and 135th Street as the “Chinatown Cultural Arts and Innovation District.” The City is still working on a masterplan for the commercial district, though it unveiled its initial plans for the project during a public presentation this week. When North Miami’s Chinatown district is complete, investors in the...
read moreNew Brightline train arrives in South Florida
The company behind Miami-to-Orlando passenger train Brightline has a new milestone under its belt, with the second of five trains arriving in South Florida this week ahead of the project’s local debut this summer. Trainset “BrightPink” embarked on its 3,000-mile journey from Siemens’ Sacramento, California facility to Brightline’s railroad operations center in West Palm Beach on Friday. As of today, about 80 percent of the rail infrastructure improvements on the corridor between West Palm Beach and Miami are complete, said All Aboard Florida,...
read moreMore businesses relocating U.S. headquarters to Miami
A logistics and freight forwarding company with a presence in more than 130 countries has chosen Miami’s Blue Lagoon for its Region Americas headquarters move, bringing 88 high-paying jobs to the region. The company will officially announce the move Wednesday at the Beacon Council’s 2017 Annual Key Ceremony at the InterContinental Miami. DB Schenker Americas began relocating workers from Freeport, New York to a temporary office near Miami International Airport in September. It currently has 30 employees at the site as it awaits...
read moreAmerican Dream Miami | Triple Five | Miami Mega-Mall Plans ready in 2022
The state of Florida is moving forward with a standard 30-day review of American Dream Miami, which means plans for the mega-mall are heading to a final vote by June. A regional planning board, the South Florida Regional Planning Council, will meet again on Friday to provide its input on the 6.2 million-square-foot development planned for Northwest Miami-Dade. The board, made up of elected officials from Broward, Miami-Dade and Monroe counties, rejected a staff request on Monday to label the project “generally consistent” with local goals,...
read moreNew listing, Best Deal on Elite Fisher Island Paradise. $1,750,000
Welcome to Fisher Island Club Florida’s Most Exclusive Club & Residences 2212 Fisher Island Dr Fisher Island, FL 33109 $1,750,000 Listed By Patricia Delinois Mobile: (786) 252-6288 CENTURY 21 Premier Elite Realty. MLS #: A10173539 2 beds + Den | 2.5 baths | 1,912 sq ft Click Full Article for more details. Full Article Save Article Article Feedback Share Article
read moreWhiddon family proposes multifamily project along New River in Fort Lauderdale
A waterfront property in Fort Lauderdale could be rezoned for 215 multifamily units. The city’s Development Review Committee will consider the application by Whiddon Family LLC on Feb. 14 to rezone the 12.5-acre site from single-family residential to medium-high density residential. The property includes the single-family houses at 1131 and 1151 S.W. 9th Ave. plus vacant land on the north side of Davie Boulevard. Click Full Article for more details. Full Article Save Article Article Feedback Share...
read moreUniversity of Miami Real Estate Impact Conference 2017, redevelopment of CocoWalk
The University of Miami brought together some of the nation’s biggest real estate players to discuss how they’re dealing with rapidly changing trends, and a major revamp for CocoWalk was among the biggest news. Over 550 people gathered in the Four Seasons Brickell for the UM Real Estate Impact Conference on Friday to highlight both local and national trends. It was headlined by Lennar Corp. CEO Stuart Miller and David Simon, CEO of mall owner Simon Property Group (NYSE: SPG). Click Full Article for more details. Full Article Save Article...
read moreFla.’s housing market ends 2016 with higher prices
ORLANDO, Fla. – Feb. 9, 2017 – Florida’s housing market wrapped up 2016 with more new listings, higher median prices and fewer sales of distressed properties compared to the year before, according to the latest housing data released by Florida Realtors®. “This past year was marked by tight housing inventory throughout Florida, particularly in the range of $200,000 and under,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “Buyer interest was high and home sales...
read moreFortune 500 companies make short strides toward broader diversity: study
HP Inc. and Wells Fargo have the broadest diversity on their boards, according to a new study, even as other Fortune 500 companies have only made small strides toward inclusion. HP Inc.’s (NYSE: HPQ) board has the broadest range in diversity, according to the Alliance for Board Diversity and professional services firm Deloitte(PDF). Out of 13 total board seats at the Palo Alto, California-based tech firm, five are occupied by women, two members are black, three are Asian/Pacific Islander and one is Hispanic/Latino. Wells Fargo (NYSE: WFC)...
read moreMiami developers are redrawing swaths of the city through this zoning carve-out
For decades, these three large city blocks in a prime location — straddling Miami Avenue and butting up against the Miami River and the Brickell financial district — lay inexplicably vacant. Now, in the seeming twinkling of an eye, they have been utterly transformed. Brickell City Centre, which opened in November, is an urban animal of a concentrated intensity more evocative of Hong Kong or Tokyo than anything Miami has seen before: five towers connected by a multilevel, open-air shopping center plugged directly into a Metromover station and...
read moreReal Estate Trends: Fla. ‘outperformed’ the U.S.
ORLANDO, Fla. – Jan. 27, 2017 — In 2016, Florida’s economy outperformed the nation in part because of better job creation, according to several economists who spoke to a standing-room-only crowd of about 500 Realtors® at the 2017 Florida Real Estate Trends event Thursday during Florida Realtors Mid-Winter Business Meetings. National Association of Realtors (NAR) Chief Economist Lawrence Yun noted that the pace of U.S. home sales in 2016 at 5.5 million was “the best in a decade.” Since it’s nowhere near the 7.2 million sales peak in 2006,...
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