A magnificent seaside estate in Coral Gables has been sold for $11.5 million to KarimAlibhai of GencomGrou. This makes it the most expensive single-family home sale in the Miami-Dade Countyyear-to-date. Alibhai may have gotten quite a discount although the sale includes a big amount. The former owners spent around $17 million building the home. They […]
Archives: April 2013
Fannie reaches milestone with largest-ever profit
The profit for 2012, as Fannie Mae posted, is $17.2 billion. This marks the government-sponsored mortgage backer’s first yearlyincome since 2006 and its largest-ever yearly revenue. The reason for this is due to the overall improving economy, low interest rates and an improving housing market and declines in foreclosures.
DACRA kicks off building in the Design District
DACRA appears to move forward on its demolition and construction project. The Craig Robins-led developer is planning to bring as many as 50 luxury brands to the Design District with new shopping centers. They are also considering to add residential and hospitality components to the project.
One Thousand Ocean closes $8.7M penthouse deal
An international buyer known as “the Beach” had purchased one of One Thousand Ocean penthouses for $8.7 million or almost $1,540 per sq. ft. This is indeed the highest per square-foot rate in the building. The penthouse features a private elevator lobby, separate glass-enclosed bonus room, floor-to-ceiling windows, private three-car garage, and a private pool-deck […]
Chetrit buys Miami Beach Resort for $117M
Blackstone Group LP sold the 424-room oceanfront Miami Beach Resort hotel for $117 million. Located at 4833 Collins Avenue, the property been bought by Joseph Chetrit and will make some extensive renovation.
Marina Palms Yacht Club unveils penthouse units
Four penthouse units are now available in the Marina Palms Yacht Club. Their prices will start from $1.9 million ($850 per sq. ft.) and ranges from 2,200 to more than 4,300 sq. ft. Location will be at 172nd Street and Biscayne Blvd. Amenities consists of infinity-edge pools, butler service, a spa, club room, a gym, […]
Downtown Miami to get new loft-style condo tower
There is a loft-style condo tower that is being planned to be built at 151 SE First Street in Miami’s Central Business District. This will be a 36-story, 352-unit condominium including very small units and cool lofts with a restaurant on the ground floor, as described by Harvey Hernandez representing Newgard Development Group planning the […]
Old Cutler Bay home sells for $5M, nearly $1.5M under ask
The home located at Coconut Grove’s Old Cutler Bay community that had been designed by Ramon Pacheco had been sold for $5.1 million. It has been listed for $6.5 million in 2011 and they lost over more than a million after the sale. An exquisite residence, it is a six bathroom and a six bedroom […]