Chinese buyers moving beyond “gateway” cities This year, they accounted for 1 in 14 homes over $1 million sold in the U.S. November 30, 2015 02:15PM A rendering of one of the floor plans for the Long Lake development in Texas (credit: Scott Hogg) From the New York website: Chinese investors have made big waves in the…
Foreigners buy more in SoFla than anywhere in state But international sales have dropped since previous year November 30, 2015 11:16AM A shot of Miami’s skyline South Florida made up more than half of the state’s home sales to international buyers over the last 12 months, according to a new survey from the Miami Association…
Clear skies for commercial Vacancy rates remain low across Miami-Dade office, retail and industrial space November 30, 2015 10:30AMBy Sean Stewart-Muniz Amancio Ortego, creator of the Zara retail chain, acquired an entire block on Lincoln Road for $370 million. From the October issue: Analysts are prescribing a healthy dose of optimism for commercial real estate in…
Tech billionaire buys waterfront lot in Coral Gables for $15M Vacant lot last sold for last sold for $10M in 2012 November 30, 2015 09:45AMBy Katherine Kallergis Ashar Aziz and 8525 Old Cutler Road in Gables Estates Billionaire engineer Ashar Aziz has purchased a 3.5-acre waterfront lot in Gables Estates for $15 million, or $98…
Newly built Palm Beach home sells for $11.6 million Don Malasky’s 301 Maddock Way, LLC, bought the two-story, six-bedroom home November 29, 2015 01:30PM The two-story home at 301 Maddock Way in Palm Beach intitially was listed for sale with a pre-construction price of $11.9 million. (Credit: Meghan McCarthy) A new Palm Beach home with…
Shopping center redevelopment trend gains pace E-commerce and other pressures force landlords to find different uses for retail space November 29, 2015 09:00AM Denver developer John Frew demolished part of this mall in eastern Iowa to make way for offices and a hotel. Owners are re-imagining and redeveloping shopping centers under pressure from increasing electronic commerce, a spate…
More wealthy vacationers resort to private islands Richard Branson’s Necker Islands in the British Virgin Islands rents for $78,000 a night November 28, 2015 03:00PM Kamalame Cay in the Bahamas. Private-island vacations are becoming more popular, and while many are prohibitively expensive, even vacationers on a modest budget can afford one. Jack Ezon, president of…
Miami home prices see four years of consistent growth Homes are also selling three days faster than last year November 24, 2015 12:00PM Miami’s skyline Home prices in Miami-Dade County saw yet another month of growth during October, marking more than four years of consistent appreciation. Prices for condos and single-family homes rose significantly compared…
RedSky Capital pays $400 psf for vacant land in Wynwood Lots last sold for a combined $2M between 2013 and 2015 November 24, 2015 11:15AM By Katherine Kallergis Fortis Development Group sold a vacant development site for $400 per square foot to Brooklyn-based RedSky Capital, Miami-Dade County records show. In October, Fortis completed 250 Wynwood, a six-story building…
An affiliate of Miami-based developer Ytech International bought a group of 188 apartments in Miami Beach for $27.15 million. Grand Beach LLC, managed by Roland Faith and Roy Faith, sold the 11 neighboring properties to Ytech-180 Units Miami Beach Investment, headed by Ytech Chairman and CEO Yamal Yidios. The company has developed residential and commercial…