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Miami Real Estate News

Brightline’s West Palm Beach station nearly completed: PHOTOS

Posted:Tue, 23 May 2017 21:45:09 +0000

Brightline, the express train that will connect Miami with Orlando, will revolutionize transportation in South Florida and have a positive impact on real estate prices along the route, according to business and civic leaders attending a “sneak peek” of progress at its West Palm Beach station on Tuesday. “We have to plan for future growth in Florida and Brightline is a critical project,” said Mark Wilson, president and CEO of the Florida Chamber of Commerce. ... [more]

Dexcom chief pays $6.4M for condo at new Four Seasons Residences at The Surf Club

Posted:Tue, 23 May 2017 21:00:02 +0000

One of the first condos at the new Four Seasons Hotel and Residences at The Surf Club just sold for $6.4 million, Miami-Dade property records show. The 3,424-square-foot unit at 9011 Collins Avenue sold for about $1,869 per square foot, by Delaware entity SC Residences Condominiums LLC, linked to developer Fort Partners. Property records show Terrance H. Gregg, executive chairman and former CEO of the medical device company Dexcom, Inc., bought unit 917 through the Gregg ... [more]

Hermès, Kirna Zabete, 100% Capri, Coyo Taco and more headed to Palm Beach

Posted:Tue, 23 May 2017 20:15:15 +0000

Palm Beach’s Royal Poinciana Plaza is adding a slew of high-end stores, including Hermès, Kirna Zabete and 100% Capri, as well as eatery Coyo Taco and more. The 180,000-square-foot open-air shopping center, whose lease is owned by a division of Boston-based WS Development, is in the midst of renovations. The new brands, scheduled to open in the fall, also include Assouline, Beach, Bognar & Piccolini, Cremieux, Palm Beach Bicycle Trail Shop, Rani Arabella, Serenella, and ... [more]

CoStar makes big push at ICSC

Posted:Tue, 23 May 2017 19:15:54 +0000

From TRD New York: CoStar Group is blanketing ICSC, more than doubling its attendance from last year. making it one of the top 30 firms at the show. The dominant player in commercial real estate data arena, CoStar sent 69 registered attendees to the retail event, the largest head count from a company that is not a brokerage, tenant or owner. The firm — which is spending up to $20 million this year to prevent ... [more]

Here’s how much it costs to rent in Miami, the ninth most expensive US city: MAP

Posted:Tue, 23 May 2017 18:40:18 +0000

Miami is holding onto its spot of the priciest metros to live in in the U.S., according to the latest rent report from Zumper. The city again ranked as the ninth most expensive city for a one-bedroom apartment with median rents holding at $1,800 a month this spring. Zumper, an apartment listings platform and research company, broke down rents in Miami-Dade. The report found that the Park West neighborhood of downtown Miami, Brickell and Wynwood were the ... [more]

Verzasca’s Aurora luxury condo project hits 50% in sales, breaking ground soon

Posted:Tue, 23 May 2017 17:40:23 +0000

Russian developer Verzasca Group announced it plans to break ground on its Aurora condo project in Sunny Isles Beach in mid-June after reaching 50 percent in sales. Construction on the 61-unit project at 17550 Collins Avenue was on hold while developers focused on selling the two- and three-bedroom residences, which range from 1,385 square feet to more than 2,150 square feet. Prices begin at about $880,000 and reach as high as $1.6 million, averaging to about $680 ... [more]

The week in luxury: A map of Miami-Dade’s priciest condo sales

Posted:Tue, 23 May 2017 16:30:33 +0000

Condo sales in Miami-Dade County posted gains last week. The sale of the week, the priciest to close for $7.85 million, was at the Ritz-Carlton Bal Harbour, formerly One Bal Harbour. The wife of an alleged hedge fund fraudster sold unit 2308, a four-bedroom, 5,266-square-foot condo, to OBH 2308 LLC, an entity led by Dahlia Kalter of New Rochelle, New Jersey. It was on the market with Linda Schechter of Compass for 232 days before the deal closed. The second most ... [more]

The art of sweetening the deal: Tenant incentives are sweeping the retail world

Posted:Tue, 23 May 2017 15:30:36 +0000

From TRD’s retail issue: Some of the recent statistics on retail leasing across the U.S. might sound a bit contradictory. Rents in many major markets nationally are still strong and in some cities, such as San Francisco, breaking records. At the same time, a record number of retail outlets shuttered in 2016, and a number of national legacy brands — bedrock American companies from Kmart to Sears — have closed a slew of stores and/or ... [more]

Land-use restrictions hobble US housing supply: report

Posted:Tue, 23 May 2017 14:30:48 +0000

From TRD New York: U.S. housing prices are on the rise, and yet fewer new homes are being built than in past cycles. One possible explanation is that more demand now focuses on city centers, where high land prices and zoning restrictions make it difficult to build. The number of new construction residential property sales in urban cores was significantly higher in 2015 than in 2000, according to an analysis by construction services site BuildZoom. ... [more]

Jared Kushner has kept 90% of his real estate holdings: report

Posted:Tue, 23 May 2017 13:45:01 +0000

From TRD New York: White House senior adviser Jared Kushner to date has kept 90 percent of his national real estate assets, according to an analysis of his ethics disclosures. Although Kushner reportedly divested from marquee properties like 666 Fifth Avenue and the upcoming tower at Jersey City’s One Journal Square, he’s so far elected to keep the overwhelming majority of interest in a real estate empire that stretches from Manhattan to Missouri, the Washington ... [more]

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