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Miami buyers get more for less than they would in New York, and elsewhere
Median home price in the U.S. is averaged at $300,000, which gets you, again on average, 1,700 square feet. But when you boil it down, those numbers don’t really mean anything, because they represent too wide an area. That’s precisely why Point 2 Homes applied those U.S. averages to the country’s 50 biggest cities to see what $300,000 could get a homebuyer. In Miami, the answer was more than what they could get in Los Angeles…and Seattle, and Manhattan, and so on. For $300,000, the average Miami buyer could find a 952-square-foot home,...
read moreMiami new construction activity skyrocketing
The Miami new construction market is putting up some of the most impressive numbers in the nation this year, according to research from Dodge Data & Analytics. In October, Miami saw more than $1.108 billion in total residential construction spending, which is a whopping 217 percent increase from Oct. 2015. Furthermore, year-to-date construction spending is a much better indicator of the market’s overall health, and at $6.119 billion, Miami’s market is up 10 percent over the same time period last year. Click Full Article for...
read moreThree upcoming big projects
Miami considers plans for 888 Brickell office tower, Quadro apartments by Alta Developers, and Ellipsis condo Developers are seeking approvals for three major projects in Miami: a Brickell office tower, an apartment building on the Upper Eastside and a boutique condominium in Edgewater. The city’s Urban Development Review Board will consider all three proposals on Dec. 7. Click Full Article for more details. Full Article Save Article Article Feedback Share Article
read moreRitz-Carlton Is Out to Make Art Studios the Latest Must-Have Amenity in Luxury Living
Walk into one of Tatiana Blanco’s parties and you’ll find guests gathered around a blank canvas, not a TV or the kitchen table. “I needed an outlet—a place where I could release my emotions more spontaneously. And I saw that my friends did, too,” says the sculptor from her home and studio in Key Biscayne, a small island town across the bridge from Miami. “That’s when we started making group paintings.” For the past two years, Blanco has provided a communal canvas for friends and visitors to her home, where the tabula rasa has doubled as...
read moreBrickell 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 moreBest deal new listing on Fisher Island
Sought after special ground floor residence. Beautiful back patio opens to spectacular Vanderbilt Mansion pool and overlooking Yachts & Marina. Simply step out your back door and walk to the beach. Have this two bedroom plus den be your new paradise! Owner Financing or Creative financing available. Enjoy a world class spa, clubhouse, tennis courts, gourmet market, top rated restaurants, and countless amenities make this a one of a kind of place to live! Click Full Article for more details. Full Article Save Article Article Feedback Share...
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