The days of mysterious shell companies plunking down millions of dollars for homes in Miami-Dade County could be over. The Financial Crimes Enforcement Network (FinCEN) issued a temporary order that aims to end the secrecy in $1 million-plus cash deals in Miami-Dade and Manhattan to combat potential money laundering. Once the rule takes effect, title…
TriStar Capital and Principal Real Estate Investors enjoyed a 76 percent gain on a building in Miami’s Design District after selling it for $18.7 million after less than two years. The area has been transformed into a destination for high-end retail and fashion with luxury shops. Lease rates are among the highest in Miami-Dade County.…
Miami-Dade officials are in a scramble to come up with a rescue plan for the Frost Museum of Science, which has run out of cash to finish construction. The museum has only 10 months before the scheduled grand opening, and officials are trying to figure out a plan that won’t cost taxpayers any more money…
An InTown Suites hotel and two car dealerships have been proposed in Homestead. The city’s Planning and Zoning Board will consider the three applications on Wednesday afternoon. The items would need further approval from the city council. The 128-room hotel would be located on a 3.45-acre site on the east side of Southwest 152nd Avenue,…
An aerial view of Miami Most of Miami’s real estate sectors are at or near their peak, according to a national economist who spoke at CREW-Miami’s Economic Outlook luncheon held at the Four Seasons Hotel Miami on Tuesday. Hugh Kelly, a clinical professor at New York University’s Schack Institute of Real Estate and a member…
Online travel company Expedia opened its new office in Miami on Tuesday as it makes room for nearly 100 employees. The Bellevue, Washington-based company (NYSE: EXPE) relocated its Miami office to 19,000 square feet at 701 Brickell Ave. The 33-story tower is anchored by Bank of America. It includes a 10,000-square-foot fitness center exclusively for…
Site work recently started for the Canvas condominium in Miami’s Arts & Entertainment District after the developer secured approval for buyer financing from Fannie Mae. Few new condominiums in South Florida have gotten the OK from the mortgage giant to purchase or secure loans for individual buyers. That ability should make it easier for domestic…
SBA officials assured Congress Tuesday that small businesses can expect to get a record number of loans through the agency’s programs this year. The House Small Business Committee is holding hearings to review the Small Business Administration’s programs after the Government Accountability Office reported that the agency has failed to address various management problems. But…
The American Dream Miami mega mall would have two levels of retail in a figure eight layout surrounded by scores of amenities, including an indoor ski dome, according to documents recently filed with the county. The development in northwest Miami-Dade County aims to be the largest mall in North America with 6.2 million square feet…
Renderings of Canvas Canvas, the condominium tower planned to rise in Miami’s Arts & Entertainment District, has received conditional project approval from Fannie Mae, as construction begins. Fannie Mae has agreed to purchase or securitize mortgages on individual units in the 513-unit property, NR Investments, the project’s developers told The Real Deal. The approval is…