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Miami Real Estate News

Turnberry Associates scores $259M construction loan for Turnberry Ocean Club

Posted:Mon, 26 Jun 2017 21:15:51 +0000

Turnberry Associates just scored a $259 million construction loan for Turnberry Ocean Club Residences, the luxury condo tower rising in Sunny Isles Beach, The Real Deal has learned. At least seven months in the making, the loan from Bank of the Ozarks closed on Friday, a spokesperson for Turnberry told TRD. The financing, which has not yet cleared records, ranks among the largest in South Florida so far this year. Turnberry Ocean Club at 18501 ... [more]

The Weekly Dish: Vegan fast-casual spot opens in Midtown Miami … & more

Posted:Mon, 26 Jun 2017 20:30:10 +0000

A post shared by Todd Erickson (@iamcheftodd) on Jun 25, 2017 at 7:17pm PDT The Weekly Dish is a TRD recurring feature that showcases the latest in South Florida’s restaurant openings, leases and sales. Miami is getting some new street food, vegan fast-casual, Tex-Mex and more. GLAM | Midtown Miami Chef Todd Erickson of “HuaHua’s Taqueria” and “Haven” is now in Midtown Miami. Erickson designed the menu and kitchen for the vegan, fast-casual spot called GLAM, which stands ... [more]

Prosecutors ask Florida judge for $180M in restitution from convicted Cay Clubs executives

Posted:Mon, 26 Jun 2017 19:45:22 +0000

Prosecutors asked a Florida federal judge for $180 million in restitution from the four owners of the defunct Cay Clubs Resorts and Marinas in Key Largo. Through the court order for restitution money filed last Thursday, investors who were duped and whose funds were stolen by Cay Clubs executives can begin to get their money back, according to Law360. Cay Clubs Resort and Marinas’ alleged Ponzi scheme executives Fred Davis “Dave” Clark Jr., David W. ... [more]

Palm Beach “mansion parties” are allegedly getting out of control, thanks to social media and home rental websites

Posted:Mon, 26 Jun 2017 18:45:01 +0000

Palm Beach homeowners who leave or rent their homes for the summer are becoming more susceptible to fast-cash, high-volume ragers thrown in their homes, at their expense. Alfred and Jan Malley’s $9.87 million home on Clarendon Avenue in Palm Beach became a party mansion in May, when the property manager invited some family members to the grounds, according to the Palm Beach Post. The get-together got out of hand when the party was advertised on social ... [more]

Miami Beach investors pick up Surfside retail building for $8.6M

Posted:Mon, 26 Jun 2017 18:00:55 +0000

A retail building along Harding Avenue in Surfside just sold for $8.6 million to Miami Beach investors. Property records show Harding Avenue at Bal Harbour LLC, Harding Avenue at Surfside LLC and Surfside Retail Properties LLC sold the property at 9525-9537 Harding Avenue. The buyer is ErikDavid LLC and 9525/37 Harding Avenue, entities controlled by Joseph Cohen and Mathilde Yehezkel of Miami Beach. May-May and Carlos Horcasitas, property managers, manage the selling entities. CBRE’s Todd Weintraub represented ... [more]

Pompano Beach moves to redevelop its aging, underutilized downtown area

Posted:Mon, 26 Jun 2017 17:00:07 +0000

Pompano Beach, a centrally located seaside city in Broward County, is developing an “innovation district” as part of a plan to renovate its aging, downtown center. The city has been working “to build a second century downtown since 2007,” said Thomas DiGiorgio, an architect and builder who is chairman of the Pompano Beach Economic Development Council, a public-private organization. Among the goals is creating new economic appeal for the city and making it more attractive ... [more]

Azul at Mandarin Oriental Miami to shutter after 17 years

Posted:Mon, 26 Jun 2017 16:20:44 +0000

After 17 years, the Mandarin Oriental, Miami’s Asian-inspired restaurant, Azul, will be closing its doors on Friday. Former Azul chef Clay Conley will return for the final dinner services at the end of this week, according to a press release. He served as an executive chef at Azul from 2005-2010, and in 2011, Conley opened the popular Buccan in Palm Beach. The luxury Mandarin Oriental hotel, at 500 Brickell Key Drive, is also home to La ... [more]

Movers & Shakers: RelatedISG taps new director of sales at the W Fort Lauderdale … & more

Posted:Mon, 26 Jun 2017 15:30:58 +0000

RelatedISG tapped Rebecca Batterman to lead sales at The Residences at W Fort Lauderdale. Batterman is director of sales of the W, which is about 50 percent sold, according to a spokesperson. The Related Companies is wrapping up a $60 million renovation of the project. The New York-based developer bought the building in 2014 for $90 million from the original developer, the Y Group. Meyer Davis Studio handled the redesign. Batterman’s experience includes being part of ... [more]

The “House of Cards” house just hit the market

Posted:Mon, 26 Jun 2017 15:00:11 +0000

When you weren’t completely entranced by Claire Underwood‘s chill-but-deadly smile or seemingly endless wardrobe of structured dresses, you might have noticed the exquisite interiors of the Underwood house. Sleek and regal, the Victoria abode is definitely fit for a president — or two. ... [more]

South Florida’s biggest condo developers are finally bowing to a shaky market

Posted:Mon, 26 Jun 2017 13:45:53 +0000

From the June issue: After a dismal 2016, condo developers were ready to put the year behind them. The election, the strong dollar, political instability in key Latin American markets — it all sounded like a broken record. To make matters worse, the first quarter of 2017, which the industry had hoped would prove a turning point, instead revealed an accelerated slowdown. South Florida’s condo developers are increasingly holding off on launch dates, extending timelines ... [more]

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