Rendering of 400 Sunny Isles A newly built Sunny Isles Beach project may be telling of the state of the luxury market’s health. In August, Key International completed 400 Sunny Isles, a 230-unit luxury condo development, and by March the developer had sold nearly all of its units for a combined $206 million. Now, a…
Mount Sinai Medical Center has proposed building a free-standing emergency department in Hialeah as it seeks to continue the growth in patient volume and profits. The non-profit hospital based in Miami Beach wants to build the free-standing ED at 6050 West 20th Avenue, a 3-acre, church-owned site just west of the Palmetto Expressway. The hospital…
Related’s construction of 10 Hudson Yards From the New York website: Housing starts in the U.S. picked up 6.6 percent in April, in a welcome rebound from what was a slow first quarter for new housing construction nationally. The nearly 7 percent jump in new starts from the previous month was primarily driven by the Midwest…
Catalyst Pharmaceuticals Inc. will immediately reduce its workforce by at least seven positions, according to an announcement Tuesday. The Coral Gables-based firm confirmed it would cut its commercial operations team as it must complete a trial of its drug, Firdapse, and then seek approval by the Food & Drug Administration. “I would like to express…
United Technologies Corp.’s Climate Controls and Security division broke ground on Tuesday on its $115 million headquarters and building innovation showcase facility in Palm Beach Gardens that’s expected to create at least 380 jobs. The company (NYSE: UTX) is building the 224,000-square-foot complex at the southeast corner of Interstate 95 and Donald Ross Road. It…
Sizing up the merchandise at the Seattle Amazon store
From the National Market Report: With the latest news that mammoth e-tailer Amazon might be opening 300 to 400 brick-and-mortar stores across the country, retail real estate brokers and owners are eager to cash in on the opportunity. [more]
A long-stalled transit-oriented development project at the South Miami Metrorail Station has been sold to a new developer. Hometown Station Ltd., managed by Machado Ford President Gus Machado, assigned the lease with Miami-Dade County Transit for $13 million to TREO Somi Station LLC, an affiliate of Miami-based the Treo Group. The buyer is managed by…
The Aloft hotel in the upcoming Aventura ParkSquare mixed-use project has secured a $36.67 million construction loan. Boston-based Citizens Bank awarded the mortgage to Norwich Aventura I LLC, an affiliate of Sanibel-based Norwich Partners of Florida led by David Leatherwood. It will fund the 207-room hotel at 2910 NE. 207th Street. The hotel developer acquired…
Real estate brokerage Compass has opened its second office in Miami-Dade County less than a year after the company entered the market by establishing a presence in Coconut Grove. New York-based Compass is a fast-growing firm that focuses on a technology platform for brokers. The fast-growing company established its Miami Beach office in August 2015…