News

South Florida - The Real Deal Real Estate News

• Douglas Elliman Development Marketing hires SVP

  by Kate Hinsche on May 3, 2024

  Douglas Elliman Development Marketing hired Laura Tomana as senior vice president of market data and research. The brokerage brought in the former Real Estate Board of New York (REBNY) senior economist to oversee research and analysis for Florida, according to a press release. In her new role with Elliman, Tomana will consult on all elements The post Douglas Elliman Development Marketing hires SVP appeared first on The Real Deal.

• Tricera, Lndmrk and Simkins team up for $23M Society Wynwood retail investment in mixed-use project

  by Francisco Alvarado on May 3, 2024

  Ben Mandell, Alex Karakhanian and Michael Simkins joined forces to buy the ground-floor retail space of Society Wynwood, an almost completed mixed-use project, The Real Deal has learned. A joint venture between Mandell’s Tricera Capital, Karakhanian’s Lndmrk Development and Simkins’ Lion Development Group paid $22.5 million for 32,000 square feet at the base of the The post Tricera, Lndmrk and Simkins team up for $23M Society Wynwood retail investment in mixed-use project appeared first on The Real Deal.

• South Florida developer Tibor Hollo dies at 96

  by Katherine Kallergis on May 3, 2024

  South Florida developer Tibor Hollo, who helped shape Miami’s skyline, died at the age of 96.  Hollo, a Holocaust survivor, founded his family owned Florida East Coast Realty after moving to Miami in 1956, and served as chairman and president. The residential, commercial and mixed-use developer most recently built Panorama Tower in Brickell, one of The post South Florida developer Tibor Hollo dies at 96 appeared first on The Real Deal.

• Entity linked to Reuben Brothers buys waterfront North Bay Road spec home

  by Kate Hinsche on May 3, 2024

  An entity tied to Reuben Brothers bought a waterfront spec home on Miami Beach’s North Bay Road. Denise Vohra LLC, a Florida entity named for Dr. Ameet Vohra’s wife, sold the house at 2000 North Bay Road for $14 million to a Delaware entity named for the address, records show.  Lisa Blake of Villazzo had The post Entity linked to Reuben Brothers buys waterfront North Bay Road spec home appeared first on The Real Deal.

• Javier Cervera moves his real estate investment, management firm’s HQ to Coral Gables

  by Lidia Dinkova on May 3, 2024

  Javier Cervera Jr. moved his real estate firm’s headquarters to Coral Gables from Brickell.  Cervera Real Estate Ventures opened this week at the 4,000-square-foot building at 3132 Ponce De Leon Boulevard, according to a company news release. It nearly doubled its space from its previous 2,300-square-foot headquarters at 1800 Southwest First Avenue in Miami.  The The post Javier Cervera moves his real estate investment, management firm’s HQ to Coral Gables appeared first on The Real Deal.

• Coal Capital’s Lake Worth Beach rehab complex faces foreclosure

  by Francisco Alvarado on May 2, 2024

  Coal Capital Group could lose a medical rehab facility in Lake Worth Beach to foreclosure. Denver-based Lapis Advisers, as agent for a fund that acquired a mortgage from Santander Bank in 2020, filed a foreclosure complaint against Brooklyn-based Coal Capital and two affiliates, court records and real estate database Vizzda show.  The lawsuit, filed in The post Coal Capital’s Lake Worth Beach rehab complex faces foreclosure appeared first on The Real Deal.

• WeatherTech founder David MacNeil buys oceanfront Manalapan estate for $39M

  by Kate Hinsche on May 2, 2024

  WeatherTech founder David MacNeil dropped $38.5 million on an oceanfront Manalapan estate, six months after selling his Fort Lauderdale pad for a record $40 million. Records show MacNeil bought the 2-acre compound at 1120 South Ocean Boulevard from an LLC named for the address and managed by local attorney Maura Ziska. The true seller is The post WeatherTech founder David MacNeil buys oceanfront Manalapan estate for $39M appeared first on The Real Deal.

• GL Homes loses suit over contentious 550-home project on Calusa golf course

  by Lidia Dinkova on May 2, 2024

  GL Homes lost a lawsuit over its controversial plan to develop a 550-home complex on the Calusa golf course near Kendall.  The Florida Supreme Court on Wednesday denied GL Homes’ request for review of a lower court’s decision that had effectively nixed the project.   The decision marks the latest in the nearly three-year saga over The post GL Homes loses suit over contentious 550-home project on Calusa golf course appeared first on The Real Deal.

• Short-term rental-friendly projects now represent half of South Florida’s new condo pipeline

  by Katherine Kallergis on May 2, 2024

  Developers have increasingly tailored their condo projects toward investors, and a new report shows how strong that trend is: More than half South Florida’s planned condo development pipeline is for short-term rental-friendly buildings.  Of 20,613 condos in the works from Miami’s Coconut Grove to Hillsboro Beach in Broward County, 10,335 units in 31 buildings allow The post Short-term rental-friendly projects now represent half of South Florida’s new condo pipeline appeared first on The Real Deal.

• East Capital adds to industrial portfolio with $18M complex near Medley

  by Francisco Alvarado on May 2, 2024

  East Capital Partners expanded its portfolio near Medley, acquiring an industrial complex for $17.5 million.  An affiliate of Darien, Connecticut-based East Capital acquired eight warehouses totaling 85,138 square feet and a storage yard at 7401 Northwest 68th Street, records show. The buildings on the nearly 4-acre site were completed in 1973. The seller, an entity The post East Capital adds to industrial portfolio with $18M complex near Medley appeared first on The Real Deal.