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Miami Real Estate News

Tightening of loose cables preceded FIU bridge collapse that killed at least 6: Sen. Rubio

Posted:Fri, 16 Mar 2018 22:20:54 +0000

The pedestrian bridge that collapsed at Florida International University on Thursday killed at least six people, and the tightening of loose cables may have contributed to the fatal accident. The 174-foot, 950-ton section of the bridge collapsed on Southwest Eighth Street and Southwest 109th Avenue early Thursday afternoon, crushing at least eight cars beneath the rubble. The $14.2 million bridge was being built by Munilla Construction Management and was designed by FIGG Bridge Engineers. A ... [more]

A condo project may be headed for single-family neighborhood in North Miami

Posted:Fri, 16 Mar 2018 22:00:26 +0000

The North Miami Planning Commission gave its nod to the development of a 67-unit, six-story condominium at its Wednesday meeting, paving the way for multifamily projects in a single-family neighborhood on Northeast 130th Street near West Dixie Highway. Turkish developer OZ and BF, LLC, led by Ozkan Ozcelik and Serhat Karakaya, will be developing the condominium at 840 Northeast 130th Street as its first project in South Florida, according to Cemil Akbas, owner of PSN ... [more]

Islamorada’s Cheeca Lodge, damaged by Hurricane Irma, to reopen by end of March

Posted:Fri, 16 Mar 2018 21:35:27 +0000

Islamorada’s Cheeca Lodge & Spa will reopen on March 30 after completing $25 million in renovations and repairs spawned by Hurricane Irma. Upon reopening, the hotel, located at mile market 81.8 on Islamorada’s Old Highway, will sport a renovated lobby and spa, renovated guestrooms, and a new restaurant. Cheeca also plans to open a new pool to augment its two refurbished pools. Cheeca General Manager Bob LaCasse said the resort will also offer more programming ... [more]

US housing starts dropped in February

Posted:Fri, 16 Mar 2018 20:30:25 +0000

February was not a great month for housing starts in the U.S. They fell 7 percent compared to January thanks to weaknesses in multifamily construction, hitting an annual rate of about 1.2 million, according to the Wall Street Journal. Permits for residential buildings also fell 5.7 percent to an annual pace of about 1.3 million, while multifamily construction dropped by 26.1 percent. In January, housing starts were at an annual pace of about 1.3 million, ... [more]

Waterfront condo project proposed for Jupiter

Posted:Fri, 16 Mar 2018 19:35:53 +0000

Fisherman’s Wharf, a 39-unit waterfront condominium project with a few units designated for workforce housing, is proposed for Jupiter. The developer is a company led by Mark Emalfarb, who heads the local biotech firm Dyadic International. The town council will consider the development on Tuesday. The site lies just west of the Intracoastal Waterway, on the northeast corner of Indiantown Road and Fisherman’s Way. Emalfarb has owned the 5.2 acre site for 25 years and ... [more]

New York-based Carpe Real Estate Partners pays $14M for Wynwood site

Posted:Fri, 16 Mar 2018 18:30:10 +0000

New York-based Carpe Real Estate Partners just paid $14 million for a development site in Wynwood. David Weitz and Erik Rutter of Carpe bought the 1.65-acre site at 2335 North Miami Avenue from Goltens Miami, a marine engine repair company. It hit the market unpriced in November. Land away from Second Avenue was trading for $225 per square foot to $275 per square foot, which would equate to at least $16 million for the Goltens site. ... [more]

Can Richard Meier’s projects be separated from the man?

Posted:Fri, 16 Mar 2018 17:30:33 +0000

When an actor is accused of groping, an audience can boycott his movies. When a politician engages in lewd behavior, he can be voted out of office. A famous architect, however, has his presence stamped all over the skyline, and turning away isn’t so easy. This week, Richard Meier was the subject of a front-page story in the New York Times in which five women accused the Pritzker Prize-winning architect of a longstanding pattern of ... [more]

EB-5 fraud scheme in Palm Beach lands development team in jail

Posted:Fri, 16 Mar 2018 16:40:10 +0000

Palm Beach developer Robert Matthews and real estate attorney Leslie R. Evans have been charged with fraud for their involvement in a real estate scam that swindled $50 million from about 50 Chinese and Iranian investors in recent years. The scam redirected EB-5 funds intended for a Palm Beach condo-hotel project at 160 Royal Palm Way, according to the Palm Beach Daily News. Each investor provided $500,000, the minimum amount required to be eligible for ... [more]

Brown Harris Stevens promotes Phil Gutman to president of Miami brokerage

Posted:Fri, 16 Mar 2018 15:30:30 +0000

Brown Harris Stevens promoted Phil Gutman to president of the Miami brokerage. Gutman will now oversee the company’s six offices in Miami-Dade as it looks to expand its footprint north. He joined Brown Harris Stevens as executive vice president and managing director in May of last year, presiding over the Miami Beach and Key Biscayne offices. Now, he’s looking to poach top talent from other firms and to acquire brokerages, likely in the Aventura/Sunny Isles ... [more]

National Cheat Sheet: The West Coast dominates US crane count, Zillow’s market cap passes $10B … & more

Posted:Fri, 16 Mar 2018 14:30:41 +0000

Seattle leads US crane count, as Western states dominate construction activity, survey says There were a record number of construction cranes working in America in January, according to Rider Levett Bucknall’s biennial “Crane Index.” With 45 cranes in action, Seattle had the most activity, followed by Los Angeles, Chicago and Denver, with each having 36 cranes working. The survey found 53 total cranes working on the East Coast, with 27 active in Washington, D.C. and ... [more]

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