The Boston-based Taurus Investment Holdings has acquired the Civica Center for $30.5 million in Miami’s hot Allapattah neighborhood. The Civica Center is located at 1050 NW 14th Street at the entrance to Miami’s Health District, which is home to a large concentration of medical firms and institutions including the University of Miami Leonard Miller School of Medicine.
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AirBNB Announces Global Party Ban And Occupancy Cap
One of the leading homesharing platforms, AirBNB, has announced a global ban on all parties and events at Airbnb listings, including a cap on occupancy at 16. This party ban applies to all future bookings on Airbnb and it will remain in effect indefinitely until further notice.
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Douglas Elliman Development Marketing Selected To Oversee Sales At 5000 North Ocean in Palm Beach
Douglas Elliman Development Marketing (DEDM) has announced that the firm has been selected to handle the exclusive sales and marketing for The Kolter Group's newly completed oceanfront residential tower, 5000 North Ocean, designed by Randall Stofft Architects and BC Architects, AIA.
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Miami's First Large Scale Opportunity Zone Development Tops Off At 18-Stories in Downtown Miami
Co-developers The Estate Companies (EIG) and PTM Partners (PTM) have announced the topping off of the 230,430-square-foot, 18-story, 360-unit luxury rental development, Soleste Grand Central (Soleste Grand). Located at 218 NW 8th Street, steps from MiamiCentral Station in Downtown Miami, Soleste Grand represents Miami’s first large-scale opportunity zone real estate development.
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Billionaire Investor Carl Icahn Officially Relocates Icahn Enterprises From Manhattan To Sunny Isles Beach
Billionaire investor Carl Icahn has reportedly officially finalized the move of Icahn Enterprises from New York City to South Florida. Icahn Enterprises has moved into their 23,463 SF lease on the 12th floor and penthouse of Milton Tower in Sunny Isles Beach. The firm previously was located in the General Motors Building in Manhattan.
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The Estate Companies Acquires Former Ramada Hotel in Hialeah for $15.25 Million
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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PROFILE Exclusive: Developing The Three Pillars Of Metropica With Joseph Kavana
Our first in-person interview and building tour since the COVID-19 shut-down was with Joseph Kavana, developer of $1.5 billion, 65-acre master-planned Metropica project which recently received TCO for its first residential offering, ONE Metropica Residences, design by YOO.
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CMC Group Reveals Multi-Million Dollar Art Collection At Brickell Flatiron
Milan-born developer and CMC Group founder Ugo Colombo recently completed the installation of a multi-million art collection at his newly opened Brickell Flatiron tower in Miami’s Brickell neighborhood. The privately commissioned permanent collection features a series of exclusively produced large-scale paintings and sculptures.
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License Agreement Ends Between Brightline And Virgin Trains USA Amid COVID-19 Pandemic
The partnership between Brightline and Virgin Trains has been terminated amid the COVID-19 pandemic and South Florida’s new commuter train service will go back to using the Brightline brand. The train service which runs between Downtown Miami, Fort Lauderdale and West Palm Beach, has not run since March 25 and has laid off 250 employees.
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WeWork Leaves Lincoln Road Location As Landlord Seeks $19.5 Million In Unpaid Rent
WeWork’s trouble’s due to COVID-19 continue as the landlord of their 350 Lincoln Road location has sued the co-working giant in Miami-Dade Circuit Court. SML 350 Lincoln Inc., an entity controlled by Shaul Levy and Meir Levy, alleges that WeWork breached their lease by failure to pay rent in April, May and June.
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