The 91-year-old Dade-Commonwealth Building in downtown Miami could be redeveloped to more than double in size so a Spanish hospitality company could transform it into its first hotel in the United States. The city’s Historic Preservation Board will review plans for the adaptive reuse and reconstruction plan on Sept. 9. It was filed by Dream…
A 2011 photo of downtown Miami’s skyline (Credit: Lonny Paul) and the Chinese flag (Credit: Daderot) The Miami Association of Realtors is bullish about bringing Chinese buyers to South Florida, and now has a new partnership that will put Miami properties on the screens of thousands of prospective buyers. The association partnered with Juwai, China’s…
A lender disposed of a pair of foreclosed medical office buildings in Boynton Beach, resulting in a $4.35 million loss to a loan fund, according to Trepp LLC. U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, won a $10.5 million foreclosure judgement in March against El Clair Ltd., managed by Kerry A. Greenwald in…
Massimiliano Fuksas and a rendering of the renovated Beverly Center, slated for completion in 2018 (Credit: Alchetron, Massimiliano Fuksas) From the New York website: The Beverly Center mall, owned by Taubman Centers, may have a $500 million renovation budget, but Massimiliano Fuksas, the architect spearheading the transformation, only has one goal — to make you feel something when…
A mixed-use project just north of South Beach’s famous and heavily trafficked Lincoln Road Mall broke ground after the developer scored a $17 million construction loan. SunTrust Bank awarded the mortgage to 1664 Lenox LLC, an affiliate of Miami Beach-based UIA Management led by President Robert S. Wennett. The developer recently started construction of a…
Rendering of Wynwood 26
1. Related Group’s first Wynwood venture called a ‘bunt’ [Miami Today]
2. European investors want to buy Jungle Island [Miami Herald]
3. Frisbies planning another spec house on the inlet in Palm Beach [Palm Beach Daily News]
4. Miami company buys Gainesville hotel for $27 million [Daily Business Review]
— Sean Stewart-Muniz
A company headed by broker and developer Michael Comras has proposed a retail building plus parking near the gateway to South Beach. On Sept. 27, the Miami Beach Planning Board will consider the application MAC 1045 5th ST LLC and MAC 1031 5th ST LLC. Both companies are owned and managed by Comras, the head…
A developer wants to build a mixed-use building on South Beach featuring retail and office space. The Miami Beach Planning Board will consider the application by Alton Sobe LLC on Sept. 27. The project would be on the 20,000-square-foot vacant lot at 929 Alton Road. Designed by IDEA Architecture, the five-story building would total 29,566…
The CVS development site in Little Havana (Inset: Henry Torres) With Henry Torres’ Astor Companies as its sponsor, CVS is building a new store in East Little Havana — and it’s already up for sale at $17.1 million. Construction is now underway for the retailer’s new 15,000-square-foot location at 711 Southwest 57th Avenue. Torres told…
Macy’s (Inset: Macy’s President Jeffrey Gennette) Macy’s leasehold on its store off Lincoln Road is quietly being marketed for sale, and could fetch as much as $80 million or more, sources told The Real Deal. With 98,610 square feet, the building at 1675 Meridian Avenue represents the largest space available and one of the only…