Pompano Beach officials will consider four big development proposals, including a multifamily building by major New York developer Chetrit Group and an oceanfront condominium. The items are set for a hearing before the city’s Development Review Committee on Jan. 20. They would need a city council vote for final approval. Led by Meyer Chetrit and…
Arkady Novikov, a globally acclaimed restaurateur, has chosen Miami to open his first Novikov Bar & Grill in the U.S. The brand has locations in Moscow, Dubai and London, and will open early 2017 on the ground floor of the Met 1 Condominium Tower at 300 S. Biscayne Blvd. in Miami. Metropolitan Miami includes the…
Thor Equities decided to turn a quick profit on part of its property in Miami’s Design District instead of developing it. Thor ASB 75 NE 39th LLC and Thor MM 75 NE 39th LLC, both affiliates of New York-based Thor Equities, sold the buildings at 75 to 81 N.E. 39th Street, 55 N.E. 39th Street…
An affiliate of Canadian real estate firm ICM Realty Group acquired the Atrium office building in Boca Raton’s the Park at Broken Sound for $17.05 million. The seller was 6111 BSP Associates, managed by David S. Novoseller in Boca Raton, and the buyer was ICM (VII) Atrium, part of the Calgary, Alberta-based company. The deal…
There are few markets hotter than Miami’s Brickell neighborhood right now. So when a restaurant space in the downtown financial district went up for sale, it got noticed. “This unique space attracted so much attention. South Beach celebrity chefs and nightclub owners looked at it. Chefs and restaurants owners from cities around the world flew…
U.S. commercial real estate could attract even more foreign investment thanks to tax changes included in the federal spending bill that was enacted in December. The law made changes to the Foreign Investment in Real Property Tax Act that “are expected to put global companies and pension funds on a more equal footing with their…
The business of death worked out pretty well for the Falcone Group as it sold the Gardens Memorial Park and Cemetery in Boca Raton for nearly triple what it paid for it. Developer Art Falcone is one of South Florida’s highest-profile real estate developers. He’s behind the massive Miami Worldcenter, among other projects. His company…
A pair of repossessed buildings on Palm Beach’s Banker’s Row, a strip on the wealthy island known for high office rents, sold at a 19 percent loss to its foreclosed mortgage. Insurance company Investors Warranty of America seized the 23,245 square feet of office space at 205 Royal Palm Way in 2009 after foreclosing on…
City officials will consider plans for a new building for luxury retail in the Miami Design District, where property values have soared in recent years. “Stardust East” at 4039 N.E. 1st Ave. is the latest building by Dacra, the group that’s building out much of the district. On Jan. 20, the city’s Urban Design Review…