Residential Real Estate News

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Le Parker Meridien hotel scion pays $7M for Sunset Islands site for new home

A member of the real estate family that developed New York City’s Le Parker Meridien hotel just paid $7.17 million for a site to build a new home on Miami Beach’s Sunset Islands. James Curnin paid $355 per square foot for the 20,000-square-foot waterfront lot at 1757 West 27 Street in Sunset Islands II, property records show. Curnin is the great-grandson of Jack Parker who founded Jack Parker Corp. Curnin bought the property from a ... [more]
Author: Erica Press
Posted: October 17, 2018, 10:30 pm

Lease roundup: Stiles secures first tenants for new Fort Lauderdale office project & more

Akerman, BBX Capital and Berger Singerman ink leases at the new Main Las Olas Law firms Akerman and Berger Singerman and holding company BBX Capital just inked a total of 85,000 square feet of leases at what’s slated to become downtown Fort Lauderdale’s first new office tower in more than a decade. Main Las Olas is a mixed-use project currently under construction on a 2.7-acre lot on the northwest corner of Southeast Third Avenue and ... [more]
Author: Erica Press
Posted: October 17, 2018, 9:45 pm

NHL’s Max Pacioretty sells Boca Raton home to Southern Glazer’s exec

A toast is in order. National Hockey League forward Max Pacioretty sold his Boca Raton home to Gene Sullivan, regional president of Southern Glazer’s Wine & Spirits. Pacioretty, a left winger for the Vegas Golden Knights, sold the five-bedroom house for for $3.1 million. The 4,344-square-foot house at 434 Areca Palm Road is located within the Royal Palm Yacht & Country Club, according to Douglas Elliman. Pacioretty was recently traded to the Vegas Golden Knights ... [more]
Author: Erica Press
Posted: October 17, 2018, 8:30 pm

An offer they could refuse: Inside the failed bulk buyout of Isola Condominium

With nearly every acre of Miami waterfront land scooped up, developers have increasingly turned to the bulk buyout, targeting older properties in prime locations that can be demolished and replaced with glittering, taller versions. Developers 13th Floor Investments and Key International thought they had the ideal candidate recently in the aging 300-unit Isola Condominium on Brickell Key. The 23-story tower hugs the water, but at 28 years old and laden with costly maintenance issues, it ... [more]
Author: Erica Press
Posted: October 17, 2018, 7:30 pm

PHOTOS: Inside The Real Deal’s annual architecture salon

Every year, The Real Deal‘s publisher Amir Korangy hosts a salon about architecture and design, bringing New York real estate’s best and brightest into conversation with the city’s leading innovative architects. Architect David Rockwell, the founder and president of Rockwell Group, was the featured guest, joining Korangy for an in-depth discussion about his career and craft before addressing questions from guests. Take a look through the slideshow above for a glimpse of the evening’s memorable ... [more]
Author: Erica Press
Posted: October 17, 2018, 7:00 pm

Hurricane Florence devastation added to drop in home building: report

Housing starts across the United States dropped in September, largely due to a decline in the south after Hurricane Florence tore through the Carolinas. Government figures show that residential home construction dropped 13.7 percent in the south, including North Carolina, where the devastating hurricane made landfall last month, according to Bloomberg. The figures come as the damage toll is still being calculated, which includes up to $1.5 billion worth of securitized commercial mortgages. Thousands of ... [more]
Author: Kevin Rebong
Posted: October 17, 2018, 6:30 pm

Grupo Eco buys site for final piece of Atlantic Village project in Hallandale

Grupo Eco just paid $12 million for land in Hallandale Beach where the Mexican development group plans to build the final phase of its mixed-use Atlantic Village project. A company led by investor Maxime Rémillard sold the 2.5-acre property at 601 North Federal Highway. Records show Rémillard paid $6.9 million for the site last year, which means he just sold it for about $5 million more than what he paid. John DeMarco of Re/Max 5 ... [more]
Author: Erica Press
Posted: October 17, 2018, 5:30 pm

Movers & Shakers: Stantec names new Miami principal, Dwntwn Realty Advisors expands & more

Stantec promoted Andrew Burnett to principal of the Miami office. Burnett was one of the lead architects working on the 50-story Solitair Brickell project across from Brickell City Centre. As a principal, he’ll be responsible for hiring new architects, overseeing project design quality and standards, and managing the firm’s teams in Miami and Orlando. He joined Stantec in 2014 as a senior associate. Dwntwn Realty Advisors hired three new associates: Michael Betancourt, Joey Fernandez and ... [more]
Author: Erica Press
Posted: October 17, 2018, 4:30 pm

Impulsive Group pays $21M for Sands Harbor Resort & Marina in Pompano Beach

UPDATED Oct. 17, 5:20 p.m.: This was no last minute deal for Impulsive Group. The New York-based hospitality company just paid $21 million for the waterfront Sands Harbor Resort & Marina in Pompano Beach. Impulsive Group paid $350,000 per room for the 60-room resort hotel and marina at 125 North Riverside Drive. Sands Harbor, a Pompano Beach-based company, led by Mohammad Al-Zayani, was the seller. The 82,563-square-foot hotel was built in 1966. The property, which ... [more]
Author: Erica Press
Posted: October 17, 2018, 3:30 pm

Foundry and partner to expand Miami Free Zone complex

More industrial space is planned for Doral. Foundry Commercial and Oakwood Real Estate Partners will add two new buildings to the Miami Free Zone, which they plan to rename Miami Central Commons. A Foundry partnership acquired the 823,000-square-foot industrial complex for $85.5 million earlier this year. Established in 1979, the 47-acre foreign trade zone at 2305 Northwest 107th Avenue was the second of its kind in Florida and the first in Miami-Dade. It’s federally controlled, ... [more]
Author: Kevin Rebong
Posted: October 17, 2018, 2:30 pm