The Sophie by Allure condo project was approved by the Bay Harbor Islands Planning and Zoning Board on June 21. That means the 26-unit project just needs to obtain permits from the city. Located at 1045 92nd Street, the seven-story building would have units ranging from 1,105 to 2,355 square feet. It would have 46,501…
The Miami Gardens City Council granted initial approval for a 90-unit apartment project on June 22. The 4.7-acre site is east of Northwest 31st Avenue and south of Northwest 183rd Street — on the west side of the retail center at 18000 N.W. 27th Ave., which is being redeveloped to include the first Wawa in…
Days before it was scheduled for foreclosure auction, a long-closed hospital in Miami Gardens landed in U.S. Bankruptcy Court. BSD of Miami Gardens LLC, which owns the 11-story former Parkway West Medical Center at 17300 N.W. Seventh Ave., filed Chapter 11 reorganization on June 22. That stayed its foreclosure auction scheduled for the following day.…
EDENS acquired its 14th South Florida retail center with the acquisition of Lakeside Plaza, plus a neighboring hotel, in west Boca Raton for a combined $54 million. In the larger deal, Lakeside Development Corp., led by Mark Walsh in Delray Beach, sold the 167,535-square-foot retail plaza at 8180 Glades Road for $40.5 million to Lakeside…
The developers of the Sabbia Beach condo project in Pompano Beach received a $45 million construction loan about a month after breaking ground. Miami-based Ocean Bank provided the financing to Fernbrook Florida, led by principals Danny Salvatore of Canada and Federico Fernandez of Venezuela. The 19-story tower at 730 N. Ocean Blvd. will have 68…
A building in Miami’s Wynwood arts and entertainment district was sold for $10.7 million, a 431 percent increase from its last trade 10 years ago. The city rezoned much of Wynwood in 2015 so property there now has the potential for mixed-use development and more residential space. Retail rents have rapidly increased. The property is…
Map of top 10 U.S. rental markets by price From the New York website: Contrary to popular conception, the trend of rising rents and diminishing inventory has minimal negative impact on mid- and high-earning renters. “The story tends to be generalized that’s it’s tough for all rental households. The top-earning groups have not been particularly…
Menin Development picked up two retail properties in the hot shopping and dining market of Delray Beach for a combined $58.6 million. In the larger transaction, Linton 510 LLC, managed by Yaniv Sananes in Miami Beach, sold the 84,551-square-foot New Century Commons at 500 W. Linton Blvd. for $33 million. The seller was represented by…
Greystone obtained a $22 million construction loan to build a 100-unit apartment complex on the west side of Miami. The general contractor is Civic Construction Co. The 14-story apartment tower, designed by Borges and Associates, should be open in the first quarter of 2018. The project will also have 11,000 square feet of ground-floor retail.…
A marina along Interstate 95 in Fort Lauderdale sold to a veteran South Carolina developer for $14.1 million. Fort Lauderdale BoatClub, managed by Edward J. Ruff in Naples, sold the 9.9-acre boatyard with 75,220 square feet of marina buildings to FT Lauderdale Marina Partners. The Atlantic Marina Holdings. Miller Development. American Bank of Texas provided…