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First look at MDM Development’s new design of Miami Worldcenter Hotel & Expo Center
The developers of the Marriott Marquis Miami Worldcenter Hotel & Expo Center will have their revised plans reviewed by the city. On Oct. 19, Miami’s Urban Design Review Board will consider the new plan by P&G Investors, an affiliate of MDM Development, for what would be South Florida’s largest hotel at 700 N. Miami Ave. The former site of the Miami Arena is part of the Miami Worldcenter mixed-use project. In March, MDM Development announced that it would scale down the projectfrom 1,800 rooms to 1,700 rooms and build it in two phases:...
read moreOver-the-top amenities are a given in today’s luxury condo buildings
Jet-set travelers who own homes in multiple places around the globe have high expectations. So high, in fact, that one Miami condominium building is offering buyers a one-year membership to Jetsmarter, a service that provides rides on private planes between major cities. Stellar service and valuable amenities are an expected part of the package when you buy a luxury condo in Miami, New York City and Washington, but tastes and needs vary from one city to another. Whereas a doorman greets homeowners and guests at nearly every New York...
read moreBoutique is the new black- Condos Miami
Boutique condo projects designed to appeal to buyers seeking the privacy of a single-family home with the convenience of a condominium are rising up across South Florida. Developers say they’re turning to smaller projects in order to attract baby boomers accustomed to single-family homes amid lagging interest from the region’s typical foreign condo buyers. Market experts say this trend is also motivated by the desire to limit investment risk late in the economic cycle. “The last thing they want in this stage of the cycle is a big project...
read moreMiami Beach moves to create North Beach Historic Districts
The Miami Beach Historic Preservation Board on Tuesday recommended creating two local historic districts in the city’s North Beach neighborhood. Now it’s up to the Miami Beach City Commission, which will likely begin discussions on the creating the districts at its monthly meeting next week. Discussions about creating local historic districts in North Beach, the part of the city that stretches from 63rd Street to 87th Terrace and between the Atlantic Ocean and Biscayne Bay, have been going on for several years, but it was only after the city...
read moreGindi Family plans major Wynwood retail project after $53 million dollar purchase
In one of Wynwood’s largest deals to date, the Gindis, famous for their ownership of the Century 21 Department Store chain, just paid $53.5 million for a chunk of Wynwood property where they are planning a two-story retail development. The family, acting through their company ASG Equities, bought the buildings at 2600-2630 Northwest Second Avenue just a block away from the Wynwood Walls, according to the Miami Herald. The properties house 41,616 square feet of space and sit on 42,000 square feet of land, so the sale breaks down to more than...
read moreFlorida 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...
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