DEVELOPMENT Building self-storage facilities isn’t as flashy as building condo towers or upscale shopping, but that market is as hot as any in South Florida. Since July 1, the Business Journal has covered nine groundbreakings and 14 new development proposals for self-storage complexes in the tri-county area. One of the most active developers has been…
The international influence on South Florida’s residential market was gigantic as foreign buyers accounted for 36 percent of the dollar value of home sales, according to a survey by the Miami Association of Realtors. The survey, which covered Miami-Dade, Broward, Palm Beach and Martin counties for the 12 months ended August 2015, found $6.1 billion…
A residential and retail building a block from the ocean on South Beach sold for $9.9 million. Gemms Inc., managed by Eugene J. Howard, sold the 16,186-square-foot building at 1351 Collins Ave. to four partners: 50 percent to Mike Ryan Collins LLC managed by Jack Avid and Steven Ovid, 17 percent to the Lori Sue…
Burger King’s parent company may be based in Canada now, but the fast food chain is planting its fork in Miami-Dade County long term with plans for a new headquarters building. Newmark Grubb Knight Frank’s Patrick Duffy and Jon Bourbeau represented Burger King in signing a lease for a 150,000-square-foot building to be constructed in…
Renderings of Faena House and Estates at Acqualina, and President Barack Obama From the New York website: Buyers of luxury Miami and Manhattan real estate, whose purchases are often shielded by limited liability corporations, will be thrust into the spotlight come March, when new federal disclosure requirements take effect. But the new order doesn’t necessarily…
1351 Collins Avenue in Miami Beach Three Miami Beach investors have added a low-rise apartment building to their portfolio, county records show. Gemms Inc. sold the two-story, Art Deco-era building at 1351 Collins Avenue for $9.9 million. Mike Ryan Collins LLC, an entity managed by Jack Avid and Steven Ovid, bought a 50 percent stake in the property,…
Oppenheim Architecture and Gregg Covin Development shared renderings of their proposed project at Miami Dade College’s downtown campus. They are one of four teams bidding to enter a public-private partnership with MDC to develop the 2.6-acre site at 520 Biscayne Blvd., near the historic Freedom Tower. Nader + Museu LLP, the Related Group and Pi…
Paragon Group and partner Oxford Universal Design Build recently opened up the leasing for their proposed medical office and retail building in South Miami. The city approved plans for the five-story, 62,000-square-foot building at 6101 S.W. 72nd Street (Sunset Drive) in 2015. The developers expect to break ground in the second quarter of 2016 and…
From left: Time Warner Center in Columbus Circle and 432 Park Avenue and One57, both in Midtown From the New York website: Don’t think that luxury housing markets are insulated from ongoing macroeconomic uncertainty and turmoil in the global stock and commodities markets. The foreign investors that have massively influenced the run-up in property values over the past several…