Category Archives: Real Estate

Home Price Index Rises Slightly in Miami

The month of May 2011 saw a slight uptick in the seasonally adjusted Case Shiller home price index from April. The index went up from 139.47 to 140.1, however that is down from 147.88 in May last year. The index … Continue reading

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Wynwood Market Update

Wynwood has been picking up steam lately in its process of rejuvination. In the past two months it picked up two hip coffee houses, Panther Coffee, located at 2390 NW second ave, and Lester’s, located at 2519 NW 2nd Ave. Most … Continue reading

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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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Shelborne Renovation Underway

The historic Shelborne hotel, located on 18th and Collins Avenue, is scheduled to have its renovation completed in the fall of 2011. The hotel is next to the Raleigh and the Shore Club. Another hotel nearby, the Royal Palm is … 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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Home Resales Rise to 7-Month High

In the United States, the sales of previously owned homes in December rose much more than forecast. They increased by 12%. It seems that after a rough patch in sales due to the expiration of the home tax credit, the … 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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Florida Judge Rules in Favor of Homeowners

In Reddick Florida this past December, the defendants won a non-jury trial in a case where they defaulted on a home mortgage back in 2008. The Judge ruled that Chase Home Finance, LLC, the previous lender and plantiff, failed to … 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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Moody’s Analyst Expects “Significant” Rebound in Miami Economy

Chris Lafakis, an economist at Moody’s Analytics, predicts that there will be substantial growth in the Florida economy and specifically Miami due to a rebound in population growth as well as increased vacations and travel to desirable Florida cities. He … Continue reading

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Midtown Miami Sales Report (Two Midtown & Blue Condo)

Two Midtown: Since May 2010 there have been 17 recorded sales in Two Midtown Condominium with an average price per square foot of $175 with a range between $230 and $142. The biggest sale was a 3 bedroom apartment for … Continue reading

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Getting Ready For Red Dot Art Fair Miami

Red Dot Miami has has set up the massive tents and begun preparing for the art fairs to take place by Midtown Miami in the Wynwood Arts District during the week of Art Basel from December 1st to the 5th. … 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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