News

NY firm buys into mixed-use development in Overtown

Posted:Mon, 23 Oct 2017 21:15:08 +0000

LargaVista Companies, a New York-based development and investment firm, just bought into a mixed-use project in Overtown, the company announced on Monday. LargaVista also broke ground on the development, a 55,000-square-foot, two-story retail and office building on Northwest Eighth Street. Lyric Point will be built next to the historic Lyric Theater in Overtown and across from MiamiCentral. The building is the fourth phase of a development agreement from 2012 between the Southwest Overtown/Park West Community ... [more]


Bluegreen Vacations files for IPO to raise $100M

Posted:Mon, 23 Oct 2017 20:30:37 +0000

Bluegreen Vacations, a Boca Raton-based timeshare company, filed for an initial public offering on Monday to raise $100 million. According to the offering, filed with the Securities and Exchange Commission, the company proposes to have it shares traded on the New York Stock Exchange under the symbol BXG. It does not specify an expected share price or date to go public. Bluegreen Vacations markets and sells timeshares at a total of 66 resorts it either ... [more]


New Jersey developer picks up another waterfront site in Palm Beach

Posted:Mon, 23 Oct 2017 19:45:56 +0000

Secaucus, New Jersey-based National Realty Investment Advisors just paid $7.05 million for another waterfront development site in Palm Beach, property records show. The 38,330-square-foot double-lot at 1248 and 1240 Seaspray Avenue sold for about $180 per square foot. NRIA also took out a $3.9 million mortgage from Miami-based real estate lender BridgeInvest, according to NRIA’s managing director and partner, Coley O’Brien. Albert Rabil, co-founder and CEO of Los Angeles-based private equity firm, Kayne Anderson Real ... [more]


The countdown is on: Thursday is The Real Deal’s Miami real estate event!

Posted:Mon, 23 Oct 2017 19:00:27 +0000

We’re only days away from The Real Deal’s Miami Real Estate Showcase and Forum — and there’s still time to buy tickets! Click here to purchase tickets Last fall we had a blockbuster showcase, with panels and more exhibitors than ever. This year we expect an equally full house for a packed day of programming: – 11:30 a.m.: Moishe Mana one-on-one – 11:50 a.m.: Sizing up the development cycle: Moving product and launching new projects in a ... [more]


Alexandra Elfmont leaves Cervera for Engel & Völkers

Posted:Mon, 23 Oct 2017 18:15:28 +0000

Alexandra Elfmont, a top marketing executive at Cervera Real Estate, has joined Engel & Völkers Miami as executive vice president. Alexandra Elfmont was with Cervera for five years, most recently as vice president of marketing for the brokerage’s development division. Elfmont is shifting away from a marketing-focused role to oversee strategy, sales management, business development, recruitment and retention at Engel & Völkers Miami. At Cervera, she worked on marketing for roughly 25 projects, including Elysee ... [more]


238 cities are duking it out to be the site of Amazon’s new $5B headquarters

Posted:Mon, 23 Oct 2017 17:30:47 +0000

The numbers are in, and they’re a doozy. Amazon says it has received 238 proposals from cities wanting to host the company’s new headquarters. Proposals came from 54 states, provinces, and districts. All US states except Arkansas, Hawaii, Montana, New Hampshire, Wyoming, and North and South Dakota submitted bids. Provinces and territories in Canada and Mexico also submitted bids that will be considered. The deadline to submit was October 19. Amazon will now sift through the proposals, eliminating ones that ... [more]


Tabatchnick, partner win nod from Hollywood board for mixed-use project

Posted:Mon, 23 Oct 2017 16:45:32 +0000

The Hollywood Planning and Development Board approved a joint venture’s proposed $40 million, 310,000-square-foot mixed-use development at the northeast corner of US 441/State Road 7 and Griffin Road. The developers, Lojeta Group, led by Lon Tabatchnick, and PrivCap Companies, led by Donny Cohen, plan 441 ROC, which will have 180 rental apartments in an eight-story building, a gas station and convenience store, a Wendy’s fast-food restaurant and a 27,000-square foot storage building. The developers’ joint ... [more]


Miami-Dade, Palm Beach retail markets soften in Q3: report

Posted:Mon, 23 Oct 2017 16:05:40 +0000

South Florida’s retail markets were a mixed bag in the third quarter amid mass closures of big box retail stores across the country, according to tri-county reports from Colliers International South Florida. Retail vacancy rates rose slightly in Miami-Dade and Palm Beach counties while asking rents increased, compared to the third quarter of 2016. In Broward, the average vacancy rate fell while the asking rent budged forward. Miami-Dade County Vacancy rates increased year-over-year in Miami-Dade, ... [more]


Crescent Heights lists Upland building in Miami Beach

Posted:Mon, 23 Oct 2017 15:00:28 +0000

A company tied to Crescent Heights wants to sell a mixed-use building in South Beach, home to the popular Upland Miami restaurant. ... [more]


National housing shortage may be the first sign of a downturn

Posted:Mon, 23 Oct 2017 13:45:59 +0000

From TRD New York: With annual existing home sales declining for the first time since July 2016, the numbers indicate a chronic shortage of for-sale homes, according to the Wall Street Journal. Last month, median home prices rose 4.2 percent to $245,100, while September’s home sales for pre-existing homes declined by 1.5 percent. While the burgeoning shortage is undeniable, experts have different views of the bigger story behind it. Some say it’s an indication of ... [more]


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