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Benderson buys Linton Commons retail complex in Delray Beach for $28Mby Lidia Dinkova on December 5, 2023
Benderson Development bought a shopping center in Delray Beach for $28 million, marking the firm’s continued investment in South Florida retail properties. Sarasota-based Benderson purchased Linton Commons at 500, 510 and 520 West Linton Boulevard from Menin Development, according to records and real estate database Vizzda. The 85,000-square-foot Linton consists of three one-story buildings completed The post Benderson buys Linton Commons retail complex in Delray Beach for $28M appeared first on The Real Deal.
Foreign buyers dropped $5B on South Florida homes this yearby Kate Hinsche on December 5, 2023
Foreign buyers bought $5.1 billion worth of South Florida residential real estate this year. That’s a $1.7 billion drop from the $6.8 billion they spent in 2022, according to data collected by the Miami Association of Realtors. Foreign and domestic purchases fell across the tri-county region in the past year, as the markets cooled following The post Foreign buyers dropped $5B on South Florida homes this year appeared first on The Real Deal.
Investors pay $21M for Fort Lauderdale boat facility and dev siteby Francisco Alvarado on December 5, 2023
A trio of investors, including a parking executive entangled in a 2018 Miami fraud case, paid a combined $21 million for a waterfront boat sales and repair facility and a development site near the beach in Fort Lauderdale. An entity managed by Andrew Beachler, president of Miami-based Beachler Capital Corp., acquired the Marina Mar Building The post Investors pay $21M for Fort Lauderdale boat facility and dev site appeared first on The Real Deal.
Lease roundup: Montauk Lobster House opens in Coral Gables, Citigroup Center scores eight tenant dealsby Lidia Dinkova on December 5, 2023
Montauk Lobster House | Coral Gables Montauk Lobster House opened its first restaurant outside of New York in Coral Gables. The Flores family’s Montauk Lobster House leased 3,500 square feet of dining and kitchen space, and a 1,500-square-foot outdoor patio at 1549 Sunset Road, according to a news release from the tenant’s broker. The Flores The post Lease roundup: Montauk Lobster House opens in Coral Gables, Citigroup Center scores eight tenant deals appeared first on The Real Deal.
Apogee closing tops Miami-Dade weekly condo salesby Adam Farence on December 5, 2023
Miami-Dade County condo sales, dollar volume and average sale price rose last week, while the average price per square foot fell. Brokers closed 122 condo sales totaling $107 million from Nov. 26th to Dec. 2nd, up from 70 condo sales totaling $61 million the week prior. Last week’s units sold for an average of $878,000, The post Apogee closing tops Miami-Dade weekly condo sales appeared first on The Real Deal.
Swerdlow sues Arquitectonica for $16M in alleged design errorsby Francisco Alvarado on December 4, 2023
Developer Michael Swerdlow insists he has no beef with Arquitectonica, but he was forced to sue the award-winning Miami-based architecture firm for eight figures in damages. In a civil lawsuit filed last week, the development entity for Swerdlow’s Block 55 mixed-use project in Miami’s Overtown alleges Arquitectonica is responsible for design errors that led to The post Swerdlow sues Arquitectonica for $16M in alleged design errors appeared first on The Real Deal.
State considers easing Florida Keys development regulationsby TRD Staff on December 4, 2023
The state of Florida is reconsidering development regulations in the 113-mile Florida Keys archipelago. Population growth and updated analysis on hurricane evacuation needs are paving the way for a possible increase in building permits granted across Monroe County, the Miami Herald reported. Owners of the many undeveloped properties in the Keys are expected to support The post State considers easing Florida Keys development regulations appeared first on The Real Deal.
Ex-Hammocks HOA president’s cousin charged in connection to alleged massive fraudby Lidia Dinkova on December 4, 2023
A sixth person was arrested in connection to an alleged massive fraud at the Hammocks, marking the latest fallout in the case against ex-leaders of the homeowners association and their family members. The Miami-Dade State Attorney’s Office says that Kevin Leonardo Alzate was involved in the scheme by contributing to the HOA’s delays and refusals The post Ex-Hammocks HOA president’s cousin charged in connection to alleged massive fraud appeared first on The Real Deal.
Movers & Shakers: JLL, Empira bulk up in South Floridaby Kate Hinsche on December 4, 2023
Commercial real estate giants and brokerages, alike, are beefing up their South Florida teams. JLL’s Capital Markets team announced Nick Lavin is joining the Miami team as a director, after six years with the firm in Los Angeles, according to a press release. In his new role, Lavin will focus on multifamily investment sales with The post Movers & Shakers: JLL, Empira bulk up in South Florida appeared first on The Real Deal.
Real estate industry courts buyers during Miami Art Weekby Katherine Kallergis on December 4, 2023
Scores of wealthy visitors are arriving for Miami Art Week, and the real estate industry is on high alert. Some prospective residential buyers have already scheduled appointments at sales galleries and luxury homes. Others will get a look at properties while attending Art Basel, Art Miami and the dozens of offshoot art fairs planned for The post Real estate industry courts buyers during Miami Art Week appeared first on The Real Deal.