Category Archives: Downtown

News for Downtown Miami

Miami Herald Building Sold to Developers

In June, An Asian Casino company, Genting, purchased approximately 14 acres of waterfront land which was owned by the Miami Herald. Genting paid $236 million in an all cash deal for the property. The land is located just East and … Continue reading

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1700 Biscayne Development Approved

The city commisioners have approved development plans for a three tower complex to be located at 1700 Biscayne Blvd which is facing the Omni Complex. It will include 672 residential apartments, 181,000 retail/commercial space, 505 hotel rooms. The apartments are … Continue reading

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Gigantic Mall Coming to Downtown

Downtown Miami is about to initiate the largest private works project in the United States this year.  It will be approximately 4,000,000 square feet of retail. That is almost 3 times the size of Dolphin Mall and much bigger than … Continue reading

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Prices of Condos Rise in Downtown Miami

According to a recent market report from Condovultures.com the average price per square foot of downtown Miami condos rose by approximately 14% on a year over year basis, from $306 to $348 during the first quarter of 2011. This figure … Continue reading

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The Future of Bicentennial Park and Bayside Marketplace

Despite the enormous luxury high rises that dominate the landscape along the stretch along Biscayne Blvd. known as Biscayne Wall from 1st to 11th street, Bayside Marketplace, and Bicentenial Park, which are situated across the street, remain unattractive even given … Continue reading

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Miami one of the Strongest Housing Markets

Believe it or not, the figures speak for themselves. The Investors Business Daily just ran an article commenting on the strength of the Miami condo market in comparison to other large cities in the United States. This is exactly what … Continue reading

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Miami Home Prices Stay Soft

According to the recent data released for the S&P Case Shiller Home Price Indices for the month of December 2011, Miami home prices fell slightly in comparison to the previous month and the previous year. In comparison to the previous … Continue reading

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600 Brickell Moves Forward

After years in limbo, the 600,000sf, 40-story, class A office building, which was located at 600 Brickell and formerly known as Brickell Financial Center, will get get built it seems. The developers were trying to secure construction financing which had … Continue reading

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Miami Home Sales Continue Improvement

According to the Miami Association of Realtors and data collected from the Southeast Florida Multiple Listing Service, sales of existing homes in Miami rose by 18% in December compared to the same period in 2009. This is also approximately 70% … Continue reading

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Miami’s Mint Sells 100 Condos

In order to promote the sales of Mint, one of Miami’s last remaining vacant condo buildings in downtown, the owners of the building reduced prices by over 30%. Mint is part of three buildings that make up a gated community … Continue reading

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Lennar Profit Beats Estimates

Miami based Lennar Corp, the third largest U.S. homebuilder reported a better than expected net income of $32 million for the three months ending on Nov 30th. The fact that homebuilders are able to make money in an environment where … Continue reading

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Signs of Stabilization: Miami Commercial Real Estate

Colliers International South Q3 2010 Commercial Real Estate Overview points to signs that the commercial real estate market in Miami is no longer declining and begining to find its footing. Vacancy rates for office are still a touch above 15% … Continue reading

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Rockwood Capital Scoops up Downtown Miami Everglades Condos

New York based, Rockwood Capital has won at a foreclosure auction what is likely to be the last major bulk condo deal for a while in Miami. The auction was for a the first mortgage construction loan made by Bank … Continue reading

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Miami World Center Foreclosure Auction

November 24th is the date set for foreclosure auction of the impressive 25-acre assemblage of land and properties which was supposed to become home to the Miami World Center. They are located beginning just one block west of Biscayne Blvd … Continue reading

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Foreclosure Freeze will Impact Miami

The most important news in October and perhaps of 2010 relating to the foreclosure market has been the recent freeze of the foreclosure proceedings by major US banks and mortgage servicers due to apparent legal missteps to put it mildly. … Continue reading

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Miami September Pending Home Sales Continue Improvement

According the the Miami Association of Realtors and the Southeast Florida Multiple Listing Service, pending home sales in Miami-Dade County increased 28.6% in September 2010 compared to Sept 2009. This is in a brighter contrast to the national pending home … Continue reading

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Biscayne Wall Comes Alive!

Biscayne Wall refers to the towering row of skyscrapers in Biscayne Boulevard stretching from 11th ST before the Performing Arts center all the way down to 1st Street. The buildings face the American Airlines Arena and Bayfront Park. Some have … Continue reading

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Sky Train Now Operating at Miami International Airport

As part of the massive and ambitious project known as Miami Intermodal Center connecting Miami’s somewhat fragmented transportation network, Sky Train has been completed and in operation for Concourse D. Sky Train provides light rail transport for passengers through Miami … Continue reading

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Homestead Property Owners May Pay More Taxes

Miami-Dade County commissioners voted yesterday to raise the property tax rate in a way that would affect more than 60% of homestead property owners even though their properties are worth less. There will be another hearing before the budget is … Continue reading

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Miami/Palm Beach Transit Project to get Public Hearings

As reported by WPTV, several public hearings are scheduled for an improvement in the current rail transit between Palm Beach and Miami that would transport people directly to the downtown areas. This could be a welcomed project not only providing … Continue reading

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Miss Yip to Expand into Downtown

Miss Yip restaurant on Lincoln Road will add another location on 9th ST and Biscayne Blvd in the ground floor retail located under the ultra luxury high rise, 900 Biscayne. Miss Yip will be a welcome addition to the area … Continue reading

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Miami Dade Unemployment Woes

The latest news on unemployment are a reminder of how bad things have gotten in this economy and how hard Miami has been hit. The July tally stands at 12.3% which is up slightly from June figure of 12.2% and … Continue reading

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