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The Estate Companies Acquires Former Ramada Hotel in Hialeah for $15.25 Million

The Estate Companies Acquires Former Ramada Hotel in Hialeah for $15.25 Million

August 14, 2020

The Estate Companies (EIG), a leading developer of luxury multi-family projects throughout South Florida, has announced the $15.25 million acquisition of a five-acre site occupied by a former Ramada Hotel at 1950 W. 49th St. in Hialeah. The closing took place August 7th with $11.5 million in financing arranged by LV Lending, a local private lender.

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In Acquisitions, Commercial, Finance & Banking, Hialeah, Hotels, Hospitality, Invest, Investment News, News, Traded, Private Equity Tags EIG, The Estate Companies, 1950 W. 49th St., 1950 West 49th Street, Hialeah, News, Acquisitions, 1950 Hialeah Holdings, LV Lending, Traded, Commercial, Hotels, Hotel, Ramada Hotel, Camilo Niño, Alen Hernandez, Ricardo Uribe, Jeffrey Ardizon, Lending, Banking, Finance & Banking, Financing, Finance, Hospitality, Invest, Investment News, Private Equity
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La Sirenuse Restaurant & Champagne Bar at The Surf Club The Latest Permanent Closure Due To COVID-19

Le Sirenuse Restaurant & Champagne Bar at The Surf Club The Latest Permanent Closure Due To COVID-19

August 5, 2020

COVID-19’s impact on the restaurant industry and commercial real estate is beginning to show its ugly face. Just several years after their well received March 2017 opening, Le Sirenuse Restaurant & Champagne Bar at The Surf Club has permanently closed its doors citing the fallout from the COVID-19 pandemic.

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In Commercial, Hotels, News, Restaurants, Retail, Surfside, COVID-19, Hospitality Tags Le Sirenuse, Le Sirenuse Restaurant & Champagne Bar, Le Sirenuse Restaurant & Champagne Bar at The Surf Club, The Four Seasons Hotel & Residences at The Surf Club, Four Seasons, Four Seasons Surf Club, Surfside, Surf Club, Surf Club Four Seasons, News, COVID-19, COVID19, COVID, Commercial, Retail, Restaurants, Nadim Ashi, 9011 Collins Ave., Bal Harbour/ Surfside, Fort Partners, Hotels, Hotel, Hospitality
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Owner of Bâoli, Massa Investment Group, Acquires Miami Beach's Paris Theater For $13 Million

Owner of Bâoli, Massa Investment Group, Acquires Miami Beach's Paris Theater For $13 Million

July 24, 2020

Massa Investment Group has acquired Miami Beach’s Paris Theater, located at 550 Washington Ave., for $13 million; $508 per square foot. The Art Deco building, which was first built in 1935, spans 25,589 SF. The building was designed by architect Henry Hohauser and has operated over time as a cinema, adult movie house, nightclub and film studio.

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In Acquisitions, Commercial, Finance & Banking, Historic, Hospitality, Invest, Investment News, Miami Beach, News, News & Features, Private Equity, Restaurants, Retail, South Beach, Traded, Nightlife Tags Bâoli, Marion, Marion Miami, Bâoli Miami Beach, El Tucan, El Tucan Miami, Retail, Restaurants, Nightlife, Paris Theater, Miami Beach, South Beach, Commercial, Traded, Acquisitions, Featured, 550 Washington Ave., Washington Avenue, Art Deco, Henry Hohauser, Massa Investment Group, IberiaBank, Private Equity, Mr. Hospitality, Big Time Productions, Lending, Financing, Finance, Finance & Banking, Invest, Investment News, Historic, Hospitality, Banking, Mathieu Massa
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CitizenM Coming To 1212 Lincoln After Acquiring Hotel Piece From Crescent Heights

CitizenM Coming To 1212 Lincoln After Acquiring Hotel Piece From Crescent Heights

July 6, 2020

CitizenM is coming to South Beach after the Dutch hotel group purchased the hotel portion of Crescent Height’s 1212 Lincoln at the junction of Lincoln Road and Alton Road in South Beach. CitizenM paid $9 million for the 50 room hotel which is a part of the 1212 Lincoln mixed-use project which also includes over 70,000 SF of retail and 400 parking spaces.

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In Acquisitions, Closed, Commercial, Hospitality, Hotels, Invest, Investment News, Miami Beach, Mixed Use, New Construction, News, South Beach, Traded Tags citizenM, citizenM US, Citizen M, CitizenM, Crescent Heights, Acquisitions, Closed, Hotels, Hotel, Hospitality, News, Commercial, Invest, Investment News, Plaza Construction, 1212 Lincoln Road, Wells Fargo Bank, Newmark Knight Frank, South Beach, Miami Beach, Traded, New Construction, Mixed Use, 1212 Lincoln, Lincoln Road, Alton Road
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RPC Plans $60M Health & Wellness Center At Legacy Hotel & Residences in Miami Worldcenter

June 25, 2020

Royal Palm Companies, led by Dan Kodsi, have announced that as part of Legacy Hotel & Residences at Miami Worldcenter they will develop a $60 million, 100,000 SF healthcare center. Named Health + Performance, the health and wellness facility will also feature a medical center with ventilators.

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In Commercial, Amenities, Construction Update, Downtown, Hospitality, Hotels, New Construction, News, Residential, Medical, Health & Wellness Tags Royal Palm Companies, Dan Kodsi, News, Downtown, Featured, Hospitality, Hotels, Legacy Hotel & Residences At Miami Worldcenter, Legacy Hotel & Residences, Residential, Commercial, Healthcare, Health and Wellness, Medical, Hotel, Hotel Condo, microLUXE, Miami Worldcenter, Downtown Miami, PARAMOUNT Miami Worldcenter, Miami World Center, Amenities, Kobi Karp, Kobi Karp Architecture & Interior Design, IDDI, One World Properties, OWP Brokers, OneWorld Properties, Peggy Olin, Legacy, Construction Update, New Construction, RPC, Perkins+Will
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Brookfield Property Group's $800 Million Sale of The Diplomat Beach Resort Hollywood To Fontainebleau Development Falls Through

$800 Million Sale of Second Largest Hotel in South Florida Falls Through

May 19, 2020

A roughly $800 million deal between Jeffrey Soffer’s Fontainebleau Development to acquire Brookfield Property Partner’s Diplomat Beach Resort Hollywood was called off on May 8 as the effects of COVID-19 on South Florida’s hotel and tourism industries continues to cause havoc.

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In Commercial, Hospitality, Hotels, Invest, Investment News, News, Hollywood Tags Jeffrey Soffer, Jeff Soffer, News, Commercial, Hotels, Hotel, Hilton Curio Hotel, The Diplomat, Diplomat Beach Resort Hollywood, Hollywood, Hollywood-Hallandale Beach, Fontainebleau Development, Brookfield Property Group, Brookfield Asset Management, 3555 South Ocean Drive, Invest, Investment News, Hospitality, COVID-19, COVID19, COVID, Coronavirus, Featured
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On April 3, 2020, PROFILEmiami hosted a webinar conversation around the impact that COVID-19 has, and will have, on the commercial real estate industry in So...

Rewind: Michael T. Fay Tom Wood and Jacques Bessoudo Discuss COVID-19 Impact On Commercial Real Estate in South Florida Webinar

April 14, 2020

On April 3, 2020, PROFILEmiami hosted a webinar conversation around the impact that COVID-19 has, and will have, on the commercial real estate industry in South Florida. If you missed us live, or just want to revisit some of the insight our panelists had to offer, we have now posted the full webinar for you to sit back and rewind!

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In Agent Insight, Brokerage, Commercial, Construction, Construction Update, Education, Finance & Banking, Hospitality, Invest, Leasing, Leasing Update, Market Insight, Private Equity, Public Health, Webinar, Rewind Tags Avison Young, Michael T. Fay, Thomas D. Wood Jr., Jacques Bessoudo, Galium Capital, COVID-19, Coronavirus, Featured, Rewind, Webinar, COVID-19 Impact on Commercial Real Estate in South Florida
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PROFILEmiami%252BCOVID-19%252BImpact%252Bon%252BCommercial%252BReal%252BEstate%252Bin%252BSouth%252BFlorida%252BWebinar.jpg

Join Us For a Webinar: COVID-19 Impact On Commercial Real Estate in South Florida

March 30, 2020

PROFILEmiami presents a conversation around the impact that COVID-19 has, and will have, on the commercial real estate industry in South Florida. Hear first hand from some of Florida's leading real estate professionals about how they are reacting to the crisis, navigating the uncertain circumstances and preparing for future opportunities that may arise from the economic fallout.

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In Agent Insight, Brokerage, Commercial, Construction, Construction Update, Education, Finance & Banking, Hospitality, Invest, Leasing, Leasing Update, Market Insight, Private Equity, Public Health Tags Avison Young, Michael T. Fay, Thomas D. Wood Jr., Jacques Bessoudo, Galium Capital, COVID-19, Coronavirus, Featured
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Beaches in Miami-Dade County have been closed.

Beaches in Miami-Dade County have been closed.

Tracking COVID-19 By The Numbers: Breaking News In South Florida

March 27, 2020

(Last Updated 6:14 AM 3/27/2020):

BREAKING: 

  • City of Miami officials have announced a curfew for its residents that will begin Friday night. According to officials, all residents must be indoors from 10 p.m. until 5 a.m. (3/27/2020)

  • Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)

  • All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)

Continue to check back for updates to below as we continue to track COVID-19 across South Florida:  

Stats:

  • Number of Cases in Florida: 830+ (3/23/2020)

  • Fatalities in Florida: 13+ (3/23/2020)

  • Number of Global Cases: 351,000+ (3/23/2020)

  • Global Fatalities: 15,321+ (3/23/2020)

  • Number of U.S. Cases: 35,075+ (3/23/2020)

  • Fatalities in the U.S.: 458+ (3/23/2020)

Miami-Dade County:

  • Miami-Dade County # Cases: 2900+ (3/27/2020)

  • BREAKING: Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)

  • CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)

  • Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)

    • All bars and nightclubs will be closed for 30 days.

    • Restaurants will only be able to operate at half capacity.

    • Exceptions granted if they have a capacity of 10 people or less.

    • Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.

  • Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)

    • Miami-Dade Public Schools have closed this week and next. (3/16/2020)

  • Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)

  • Officials have closed the beach from 5th to 15th Street, including Lummus Park.

  • All city parking garages are closed to non-residents.

  • In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)

    • Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.

  • An entertainment district curfew will go into effect at 11 p.m.

  • All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.

  • Ultra Music Festival has been cancelled.

  • Miami Music Week has been cancelled.

  • ArtScape Concert has been cancelled.

  • The Miami Open Tennis Tournament has been cancelled. 

  • University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)

  • University of Miami Spring Commencement postponed until December. (3/20/2020)

  • The Hardrock Seminole Hotel & Casino has suspended entertainment operations. 

  • Calle Ocho Festival has been cancelled.

  • Mayor Francis Suarez has confirmed that he has COVID-19.

Broward County:

  • Broward County # Cases: 180+ (3/23/2020)

  • Broward County Public Schools are now closed through at least April 15. (3/19/2020)

  • Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.

  • Restaurants and bars must close by 10 p.m.

  • Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.

  • The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.

  • The Wharf Fort Lauderdale is closed until further notice.

  • The listed measures will remain in effect until April 12.

Palm Beach County:

  • Palm Beach County # Cases: 59+ (3/23/2020)

  • Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)

  • Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)

  • Beaches will be closed on Tuesday 3/17/2020

  • Nursing Homes and Assisted Living Facilities are closed to visitors.

  • Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)

National:

  • BREAKING: The Federal Government has passed a $2.2 trillion stimulus package.

  • United States of America # Cases: 35,075+ (3/23/2020)

  • United States of America Fatalities: 458+ (3/23/2020)

  • Income tax filing deadline moved to July 15 (3/20/2020)

  • Foreclosures and HUD evictions have been halted for 60 days.

  • CDC recommends ban on gatherings of 10+ people. 

  • The Players Championship was cancelled & PGA Tour is suspended.

  • NBA, NHL, MLB and MLS have suspended their seasons. 

  • All ski resorts have closed.

In Affordable Housing, Brickell, Closed, Commercial, Community, Construction, Construction News, Downtown, Education, Fort Lauderdale, Hospitality, Hotels, Key Biscayne, Market Report, Miami Beach, Miami-Dade County, Multifamily, N Miami Beach/ Aventura, New Construction, News, North Miami, Palm Beach, Palm Beach County, PortMiami, Public Health, PSA, Restaurants, Retail, Senior Living, South Beach, Travel Tags COVID-19, COVID19, Coronavirus, Mayor Carlos Jimenez, Mayor Francis Suarez, Featured
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Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19

Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19

March 21, 2020

Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. The announcement comes as Miami’s next step in curbing the spread of COVID-19 which has now surpassed 560 cases in Florida and over 123 in Miami-Dade.

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In Hotels, Hospitality, Miami Beach, Miami-Dade County, News, Public Health, South Beach, Brickell, Downtown, Doral, Sunny Isles, Coral Gables Tags Miami Beach, South Beach, News, COVID-19, COVID19, COVID, Coronavirus, Public Health, Mayor Dan Gelber, Miami, Miami-Dade County, Jimmy Morales, Carlos Gimenez, Coral Gables, Downtown, Downtown Miami, Sunny Isles, Sunny Isles Beach, Brickell, Featured
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