Although tens of thousands of condominiums and rental properties are in the pipeline, the Miami area is still experiencing inventory shortgages, Carlos Rosso, the head of condo development at the Related Group, said on WLRN’s Sunshine Economy. Miami is still having inventory shortages despite the condominiums and rental properties ongoing. This is according to […]
Tag Archives: Miami
Demand for South Florida property shrinks inventory and drives up prices
From rich to low-income,waterfront properties are bringing up sales prices in South Florida as inventory declines. Having distressed propertiesin particular, the rise in Miami-area sales prices accords with a severe decline in inventory, which dropped 24.7% since the same period a year ago. South Florida’s 37.8% share of the U.S. distressed property market is at […]
Matt Damon lists Miami Beach compound for $20M
Matt Damon has listed his Miami Beach home, containing 10 bathrooms and 7 bedrooms, all for $20 million. It measures 12705 sq. ft., has a home theater, a guesthouse, a pool house with roof terrace, and 170 ft. of frontage on Biscayne Bay. Jill Elber and Jill Hertzberg from Coldwell Banker have his listing. Damon […]
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.
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 […]
New $300M condo-hotel to rise in Miami
A new 133-room hotel will be co-owned by Sam Nazrian (a Los Angeles nightclub entrepreneur) and Jorge Perez (developers of the Related Group). It is going to cost $300 million SLS Brickell-brand condo-hotel to rise in Miami. Location will be at 1300 South Miami Avenue and is anticipated to open at 2015. Cost per square […]
Miami penthouse sells for $34M
Penthouses 1601 and 1602 at the Residences at the Miami Beach Edition were combined to total a 16,271 sq. ft. triplex. This deal was closed for $34 million, and is now regarded as one of the most expensive penthouse sales in Miami so far. The penthouse features outdoor kitchens, multiple pools, eight and three-half […]
Miami casino project will not be slowed by Genting’s Vegas development plans
Beside the Adrienne Arsht Center for the Performing Arts in city center Miami will stand a mixed-use casino, a plan by the Genting Group. This will not be, in any way, affected by their recent $350 million acquisition of 87 acres in Las Vegas. Richard Goode, Resorts World Miami president, stated that the Vegas project […]
Hadid-designed Miami condo project gets name and marketing team
One Thousand Museum is the name of the new Zaha Hadid-designed Miami condominium project. Developed by Gregg Covin and Louis Birdman, the condo tower’s sales will privately be conducted by ONE Sotheby’s International Realty marketing team. Situated at 1000 Biscayne Boulevard, the tower will be Pritzker Price-winning architect’s foremost residential high-rise building in the […]
Miami’s Miracle Marketplace sells for $92 million
Chicago-based real estate asset firm Heitman paid $92 million for the Miracle Marketplace trade center on Miami’s Coral way. The property was sold by AWE Talisman in a deal handled by Jones Lang LaSalle’s Capital Markets team. The 243,047-square-foot center is set by Nordstrom Rack, Bed Bath & Beyond and Marshall’s, among other holder. JLL Managing […]