Airbnb founders Joe Gebbia, Nathan Blecharczyk and Brian Chesky Airbnb has responded to a report released by the American Hotel & Lodging Association on Wednesday, calling the study “factually inaccurate” and “paid for by the hotel industry.” The report said that more than three quarters of Airbnb revenue in Miami came from operators who listed…
The Hialeah City Commission approved two multifamily development zoning applications on May 24. In the larger project, the 10.1-acre site at 3500 W. 9th Ave. was rezoned from low-density residential to medium-density residential to allow for 226 apartments. The property is owned by Villas de Las Palmas, managed by veteran apartment developers Tomas Cabrerizo and…
The 360-unit Arbor Oaks apartment complex in West Boca sold for $77 million to a California-based company. Arbor Oaks Apartments, an affiliate of Houston-based LSR Communities, sold the garden-style apartment complex at 9703 Arbor Oaks Court – just off U.S. 441 – to Arbor Oaks Apartments Property Owner, an affiliate of Los Angeles-based JRK Property…
A 6.9-acre trailer park in Miami could be seized in foreclosure. Branch Banking & Trust Co. (NYSE: BBT) filed a foreclosure lawsuit on May 24 against Trailer Park Acquisition. It concerns a mortgage last modified at $3.05 million in 2013, shortly after the borrower exited Chapter 11 reorganization. Trailer Park Acquisition is managed by Stuart…
Property Markets Group secured an $80 million construction loan from Centennial Bank to begin work on a 464-unit apartment tower in downtown Miami. The New York-based developer previously called the project at 243 N.E. 3rd Street Vice, but it might change the name. It’s being marketed as a micro-unit project with smaller apartments and amenities…
Miami-based Barlington Group is seeking tenants for a four-story retail project it plans in Miami’s booming Brickell neighborhood. The developer is under contract to acquire the 21,210-square-foot site at 90 S.W. 8th Street, said Barlington Group Managing Partner William O. Fuller. That deal, which should close by fall 2017 pending permitting approval, was brokered by…
Renderings of 300 Biscayne apartments New York-based Property Markets Group has closed on $110 million construction financing for the apartment component of its 300 Biscayne development. PMG principal Ryan Shear told The Real Deal earlier this week the developer was set to close on the financing, which breaks down to $80 million from Centennial Bank…
Little Haiti (Credit: Marc Averette) Little Haiti is now an official neighborhood. City of Miami commissioners unanimously approved the creation of legal boundaries at a contentious and lively meeting on Thursday – a vote that has been years in the making. The new boundaries are: roughly between 54th Street and 79th Street, and Northwest Sixth…
Manufacturing firm Eco Window Systems is more than doubling the size of its headquarters as it moves to a new industrial park in Medley. The 149,980-square-foot lease at Airport North Logistics Park was brokered by Cushman & Wakefield’s Wayne Ramoski and Gian Rodriguez on behalf landlord Airport North Industrial. Americas Commercial Real Estate represented the…
The developer of East Hialeah Marketplace in Miami obtained an $11.72 million construction loan from Ocean Bank. The Miami-based bank awarded the mortgage to Miami Gardens-based Hemisphere Holdings, managed by Marcos Lapciuc. He’s the head of Precision Trading Corp. and the former chairman of the Public Health Trust of Miami-Dade County. The 16.4-acre site at…