A developer wants to build a mixed-use project in Miami-Dade County’s Model City neighborhood with a supermarket on the ground floor and apartments above. Par Family Enterprises, owned by Pedro Omar Rodriguez and Ana V. Rodriguez in Miami Beach, filed an application with county officials on Dec. 22 for the project at the southwest corner…
Part of the Falls Country Club in western Palm Beach County could be redeveloped into a retail and restaurant center. On Jan. 7, the county commission will consider a proposal to rezone the 3.5-acre property at the northwest corner of Jog Road and Hypoluxo Road – on the edge of its golf course – for…
A June 2011 photo of the downtown Miami skyline (Credit: Marc Averette) and a foreclosure sign A strong housing market kept flushing foreclosures out of Miami-Dade County in October, according to a new CoreLogic report. Out of all Miami-Dade’s outstanding home mortgages, only 3.21 percent were in some stage of foreclosure. That’s a decrease of…
From the New York website: Real estate investment trusts had a bit of a rough year despite the surge in the wider market, but a change in policy at the S&P 500 and MSCI are likely to provide a tailwind for the firms in 2016. The two stock indices are planning to separate real estate…
Kolter Group secured a $42.6 million construction loan for its Hyatt Place Hotel project in downtown Boca Raton. Regions Bank awarded the mortgage to DK Palmetto, an affiliate of West Palm Beach-based Kolter Group, for the hotel under construction at the southeast corner of Palmetto Park Road and South Federal Highway/U.S. 1. Kast Construction is…
A Brooklyn company went shopping for retail real estate on South Beach and came away with a shoe store property for $2,766 per square foot. Collins/Eighth LLC, a Canadian company managed by Marie-Andree Boutin, sold nine commercial condo units at 751 Collins Ave. for $10 million to 181/182 Prospect Park Associates. The Brooklyn-based buyer, which…
Downtown Miami and Peter Zalewski The year 2015 may well prove to be the pivotal moment for South Florida during this current preconstruction condo boom. As South Florida enters the fifth year of the real estate cycle, a number of trends began to take hold in 2015 that could influence the longevity of this…
A December 2011 photo of the Miami skyline (Credit: John Spade) Home prices in South Florida maintained their continued growth during October, according to a monthly report from S&P/Case-Shiller. The tri-county area saw prices appreciate by 8 percent year-over-year, marking the sixth-biggest price jump in the country. Ahead of South Florida were Denver, Portland and…
The Vista Lago multifamily community in Miami Fortune Capital Partners just bought a 135-unit condo portfolio near the Miami Executive Airport for $17.5 million. Included in the sale were more than half of the units in the Vista Lago condo complex 10560 Southwest 156th Place. They were sold by the Philadelphia-based RAIT Financial Trust, which…