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Clockwise from the top-left corner: James Tate, Demetri Demascus, Shahab Karmely and W. Allen Morris.

Clockwise from the top-left corner: James Tate, Demetri Demascus, Shahab Karmely and W. Allen Morris.

Why Rent Strikes Are Bad for Everyone and What’s Going to be Done about Unemployment?

May 5, 2020

Since thousands of businesses were deemed non-essential and forced to shut their doors, reemployment assistance claims over the last six weeks have surpassed two million in South Florida. With a tourism-dependent economy plus an older population, Florida is more vulnerable to economic shock, which is why it is one of the top five states with the highest number of claims.

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In Affordable Housing, Commercial, COVID-19, Education, Events, Executives, Invest, Investment News, Market Insight, Miami-Dade County, Multifamily, News, Panels, PROFILE Exclusive, Public Health, Residential, Rentals, Restaurants, Retail, Webinar Tags Shahab Karmely, Kar Properties, Jimmy Tate, James Tate, Tate Capital, Allen Morris, Allen Morris Company, Katya Demina, Demetri Demascus, rent strike, landlords, pension fund, life insurance fund, rent control, COVID-19, Coronavirus, coronavirus impact on real estate, Featured
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Oasis Hallandale Reveals New Renderings For 10-Acre Mixed-Use Development

Oasis Hallandale Reveals New Renderings For 10-Acre Mixed-Use Development

April 7, 2020

Oasis Hallandale is a new multi-block district of residences, shops, restaurants, urban parks, and offices designed by Bernardo Fort-Brescia of Arquitectonica that will soon become a pedestrian-friendly city center to the city of Hallandale Beach. The development is located at 1000 E Hallandale Beach Blvd. Hallandale Beach and is estimated to be completed in 2025.

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In Commercial, Hollywood, Hallandale Beach, Mixed Use, New Construction, News, Residential, Retail, Restaurants Tags Oasis Hallandale, News, New Construction, Giuseppe Iadisernia, Hallandale Oasis 2019 LLC, 1000 E Hallandale Beach Blvd., Hallandale Beach, Hollywood-Hallandale Beach, Norma Campos, Oasis Realty, Arquitectonica, Bernardo Fort-Brescia, Mixed Use, Commercial, Residential, Retail, Restaurants, 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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Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

March 17, 2020

Melo Group, one of Downtown Miami’s preeminent real estate development firms, is getting ready to open their latest residential tower addressing two of the city’s most-pressing issues, housing affordability and traffic.

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In Arts + Entertainment Dist, Construction, Construction News, Construction Update, Commercial, Downtown, Multifamily, New Construction, News, Rentals, Residential, Restaurants, Retail, Sales Update, Leasing Tags Melo Group, Downtown, Downtown Miami, News, Sales Update, Martin Melo, Bunbury, Bistro Cafe, Tapout Fitness, My Salon, Spot Barbershop, Shine Nail Salon, New York Roma Pizza, Testa Wines, Art Kitchen, Art Plaza, Melody Tower, Square Station, Miami Plaza, Jose Luis Melo, Carlos Melo, New Construction, Residential, Apartments, Apartment Rentals, Rentals, Construction News, Construction, Construction Update, Leasing Launch, Arts + Entertainment District, Arts + Entertainment Distr, A&E District, Commercial, Retail, Restaurants, Multifamily, Mixed Use
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Spotify To Open Headquarters in Wynwood's The Oasis Designed By Urban Robot Associates

Spotify To Open Headquarters in Wynwood's The Oasis Designed By Urban Robot Associates

March 3, 2020

Spotify will open a headquarters at The Oasis in Wynwood, which is scheduled for completion later this year (2020). Spotify has agreed to lease 20,000 SF in the urban campus for their Latin American HQ and plans to have up to 100 employees based out of the Wynwood location after they complete their move from Brickell.

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In Commercial, Office Space, Retail, Wynwood, News, New Construction, Sales Update Tags The Oasis, Commercial, Office Space, Retail, Wynwood, 2319 North Miami Avenue, Carpe Real Estate Partners, Urban Robot Associates, Featured, Spotify, Sales Update, Class A Office Space, creative office, creative office space Wynwood, Erik Rutter, David Weitz, News, New Construction
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Target & Aldi Coming To Block 55 In Downtown Miami

February 19, 2020

Target and Aldi have been announced as the first tenants at Block 55 in Overtown, just across the street from Virgin Train’s 3 MiamiCentral. The megaproject will feature 355,000 SF of retail space, 1,050 parking spaces and 506 apartment units designed by Arquitectonica.

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In Commercial, Mixed Use, New Construction, News, Retail, Overtown, Downtown Tags Commercial, Retail, Overtown, MiamiCentral Station, MiamiCentral, 3 MiamiCentral, Three MiamiCentral, News, New Construction, Arquitectonica, Downtown, downtown, John Moriarty & Associates, CVS Pharmacy, Starbucks, Ulta, Youfit, Burlington, Dave & Busters, Mixed Use
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PEOPLE TO WATCH: Meet Our Panelist Joe Furst, Principal of Place Projects

February 18, 2020

Join us on March 5th at X Miami for People to Watch: Leaders in South Florida Real Estate, where Joe Furst will be discussing his long-term value creation play in Wynwood and other neighborhoods, how he’s managed to cultivate the right partnership structure in his deals, and why he’s selective about projects that fit his skills, a hybrid between controlled placemaking, development and operations, including hospitality.

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In Amenities, Co-Working Space, Commercial, Construction, Construction News, Construction Update, Events, Mixed Use, New Construction, Office Space, PROFILE Exclusive, Retail, Sustainable Building, Wynwood, Zoning Tags Joe Furst, Place Projects, 545 Wynwood, 545Wyn, Newmark Knight Frank, Sterling Bay, Gensler Architects, Featured
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13th Floor Investments & Adler Group Lock Down $99 Million In Construction Financing For 2nd Tower At Link at Douglas

13th Floor Investments & Adler Group Lock Down $99 Million In Construction Financing For 2nd Tower At Link at Douglas

February 7, 2020

Miami-based real estate developers Adler Group and 13th Floor Investments have finalized a $99 million loan that will open the door to the construction of a second tower at Link at Douglas, a 7-acre master-planned development that will transform Miami-Dade County’s Douglas Road Metrorail Station into a mixed-use transit hub with residential, retail and commercial office uses.

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In Commercial, Finance & Banking, Government Contracts, Mixed Use, Multifamily, New Construction, News, Rentals, Residential, Retail, City Owned Land, Coral Gables Tags 13th Floor Investments, Adler Group, Coral Gables, Douglas Metrorail Station, Link at Douglas, News, New Construction, Commercial, Residential, Financing, Finance, Finance & Banking, Construction Loan, Santander, Banco Santander, TD Bank, Arquitectonica, Rentals, Apartment Rentals, Apartments, Retail, 3100 Douglas Road, Daryl Shevin, Jonathan Raiffe, Public Land, City Owned Land, Mixed Use, Multifamily
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$45 Million Trophy Office Building for the 1% Hits the Market in South of Fifth

February 7, 2020

The Yukon Miami, which commands one of the highest per square foot rents in Florida at $78 per square foot, is located at 119 Washington Avenue in Miami Beach’s affluent South of Fifth neighborhood. The Arquitectonica-designed office building has just hit the market for $45 million. Amit Egan Datwani of The Global Consulting Organization and Cyril Bijaoui of The Company Real Estate are representing the seller. 

The 43,140-square-foot commercial office building is the only Class A office building located in the South of Fifth enclave steps away from world-class, record revenue breaking restaurants, including Joe’s Stone Crab, Estiatorio Milos, and Prime 112.

In addition to its prime location, The Yukon Miami features more than 8,000 square feet of available rooftop terrace space with 360-degree views of the Atlantic Ocean, Miami Beach, and Downtown Miami, the largest commercial roof and deck space in South of Fifth.

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“Nestled between Fisher Island (the richest zip code in the United States) and the revitalized Washington Avenue only enhances the locational appeal of the South of Fifth neighborhood,” said Amit Egan Datwani, founder and chief consultant at The Global Consulting Organization. “The Yukon Miami is the ideal opportunity for a visionary investor that understands this and has the ability to transform the property from a trophy asset to an absolute gem.”

Premier tenants include One Sotheby’s International Realty, Red Steakhouse, W5 Group (a global real estate investment platform), and several financial companies, including Boston-based Raptor Capital Management, Manhattan-based York Capital Management, and Sero Capital.

A private launch party to promote the building hitting the market will be held on The Yukon’s rooftop terrace next month.

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By Stephanie Warren

In Brokerage, Commercial, Invest, Miami Beach, Office Space, Restaurants, Retail, South Beach, South of Fifth Tags The Yukon, 119 Washington Avenue, Arquitectonica, Amit Egan Datwani, Global Consulting Organization, Cyril Bijaoui, South of Fifth, ONE Sotheby's International Realty, Sero Capital, Raptor Capital Management
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PROFILE Exclusive: Private Equity & Navigating A Changing Retail Landscape With Jacques Bessoudo of Galium Capital

PROFILE Exclusive: Private Equity & Navigating A Changing Retail Landscape With Jacques Bessoudo of Galium Capital

February 5, 2020

Very few investors have been able to successfully navigate the changing retail and office market landscape’s as well as Galium Capital’s Managing Partner, Jacques Bessoudo. Building his firm to over $350 million of commercial assets in just two short years, Galium Capital is poised to be one of the major private equity players over the next decade in South Florida real estate.

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In Commercial, Invest, Investment News, PROFILE Exclusive, Retail, Office Space, Private Equity, Multifamily Tags Galium Capital, PROFILE Exclusive, Interview, Jacques Bessoudo, Invest, Investment News, Private Equity, Commercial, Retail, Office Space, Multifamily, International Buyers
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