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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 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...
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