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Author Archives: GH.Writer

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King of Diamonds strip club sued over alleged illegal building, operating without permits

Real Estate NewsBy GH.WriterJune 3, 2016

King of Diamonds King of Diamonds may soon have to bare it all in court. The infamous strip club is being sued by Miami-Dade County for allegedly building without permits and operating without a valid certificate of use. And the county wants to shut the club down until it remedies the counts.  The lawsuit, filed against…

New York firm sells South Florida apartments for $26M

Real Estate NewsBy GH.WriterJune 3, 2016

The Serrano Apartments near Greenacres sold for $25.95 million, five years after they traded in foreclosure. PA Country Lake LLC, an affiliate of New York-based AION Partners, sold the 192-unit apartment complex at 6010 Sherwood Glen Way to Tampa-based GP Serrano. The deal was financed by a two-year, $20 million loan with a 5.25 percent…

Big developer scores $47 million apartment construction loan

Real Estate NewsBy GH.WriterJune 3, 2016

Ram Realty Services broke ground on the Cortina apartment project in Boynton Beach after securing a $47.15 million construction loan from JPMorgan Chase Bank. The New York-based bank (NYSE: JPM) awarded the three-year mortgage to RRPV Cortina LLC, an affiliate of the Palm Beach Gardens-based developer, for the 350-unit project. Kast Construction Co. recently broke…

County could seek developers for site in downtown

Real Estate NewsBy GH.WriterJune 3, 2016

The Broward County Commission could issue a request for proposal to find a developer for a vacant site in downtown Fort Lauderdale. The commission will consider issuing the RFP for the 1.1-acre site at 600 N. Andrews Avenue at its June 7 meeting. It’s on the northeast corner of Northwest 6th Street/Sistrunk Boulevard, near the…

Popular trampoline center nabs second South Florida location

Real Estate NewsBy GH.WriterJune 3, 2016

Off the Wall Trampoline Fun Centers secured its second location with the purchase of a Hollywood property for $5 million. The indoor trampoline park, video arcade, climbing wall, dodge ball and laser tag center has its first location in Coconut Creek. It’s headed by Samuel Eyal Yecutieli and Ervin Andrei Mendel. Infinity Commercial Real Estate’s…

Apartment complex flipped for $8.6 million gain after one year

Real Estate NewsBy GH.WriterJune 3, 2016

The Conquistador Apartments in Davie were sold for an $8.6 million gain after just a year of ownership. Les Chalet Investments, managed by Tomas Cabrerizo in Miami, sold the 318-unit apartment complex at 7400 Stirling Road for $38.5 million to Sunset Palms United, an affiliate of the Gottlieb Family Partnership in Lawrence, New York. The…

Related Group seeks bonds for three affordable housing projects

Real Estate NewsBy GH.WriterJune 3, 2016

The Related Group’s affordable housing division is kicking its development into high gear as it seeks approval for bonds to finance three projects in Miami-Dade County. On June 7, the Miami-Dade County Commission will vote on the three tax-exempt bonds for a combined $93.8 million issued through the county’s Housing Finance Authority. The developer would…

South Florida continues to grow as home-flipping hot spot: report

home flipsBy GH.WriterJune 2, 2016

A 2009 photo of Miami’s skyline (Credit: Nigel Morris) South Florida’s home flippers have been gradually returning since the last market bubble’s burst drove them away, and a new report shows the region is now seeing more flips than it has in the past decade. The report was authored by real estate research firm RealtyTrac,…

Bank seeks foreclosure against ex-director, chair of Super Bowl Host Committee

Real Estate NewsBy GH.WriterJune 2, 2016

U.S. Century Bank filed a $15.31 million foreclosure lawsuit that names Rodney Barreto, the bank’s former director and the chairman of the Super Bowl Host Committee that recently landed the big game in Miami Gardens for 2020. As the head of lobbying and consulting firm Floridian Partners, Barreto has been influential in politics and business…

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