Architectural firm Choeff Levy Fischman is designing its first project in Fort Lauderdale: a sprawling mid-century, modern home - with a tropical twist. The home was purchased by Giovani Bernard of the Cincinnati Bengals in April 2018, and is expected to be completed next summer.
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ATM Clothing Designer and Founder Anthony Thomas Melillo Purchases Unit at Three Hundred Collins
ATM clothing designer and founder, Anthony Thomas Melillo has purchased a unit at Three Hundred Collins, a project that has been attracting big names who are looking for that walkable New York City lifestyle found in the South of Fifth neighborhood.
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Avra Jain and Dragonfly Investments Buy Another MiMo Motel
A partnership between Avra Jain and Dragonfly Investments, called Gold Dust 7700 LLC, just purchased a motel in the MiMo District – not far away from the Vagabond Hotel, also owned by Jain. Property records show they paid $6 million for Motel Blu at 7700 Biscayne Boulevard.
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Investment Spotlight: Reinvigorating Miami’s Real Estate with Opportunity Zones
The opportunity zone program is a little-known provision of the Tax Cuts and Jobs Act that could be a powerful economic development tool for designated low-income communities. The program provides tax incentives to developers who invest in these areas, including 427 tracts of land in Florida, 68 of which are in Miami-Dade County.
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Maui Model
Inside Canarias At Downtown Doral's Exquisite Luxury Homes With Jim Carr of CC Homes
There are few projects under construction in the United States where an entire live, work, play city complete with community programming, a variety of residential options, schools and diverse retail is coming to life as well as Downtown Doral.
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Sears Lists Several Properties for Sale in Central Florida
Riding on the heels of an announcement last spring to close more than a 100 of its brick-and-mortar locations, Sears is continuing to unwind its real asset holdings. The struggling retailer has retained Avison Young Florida Capital Group in an exclusive to market and sell three department stores and the largest Sears distribution center in the state.
If successful, the sales will provide millions in much-needed cash flow to fund Sears struggling operations. The five properties, located in Daytona Beach, Port Richey, Tampa, and Ocala, total more than 2.35 million square-feet. The largest of the properties is the 1.93 million square-foot distribution center located at 655 Southwest 52nd Avenue in Ocala, and is also the largest industrial building in Florida.
Sale-leaseback deals have been a preferred method of disposition for Sears, which allow the retailer to downsize, but continue its day-to-day operations. It hopes to raise its liquidity and return to profitability.
The Avison Young marketing team includes principal and managing director Michael T. Fay, principals John K. Crotty and David Duckworth, senior vice presidents Jay A. Ziv and Ray Hayhurst, and senior associates Joshua Ladle and Brian de la Fé.
Article by: Katya Demina
Pulte Group to Redevelop Former Golf Course in Oakland Park
National home builder Pulte Group has submitted a smaller development proposal for the former Oak Tree Golf Course, a 139.2 acre site in Oakland Park that they have under contract from Blackwood Partners. The trend of golf courses being repurposed is a familiar story line in South Florida due to high operation and maintenance costs. According to Marty Kiar, a Broward property appraiser, at least three of 45 golf courses in the county have closed in the last five years.
Residents of Oakland Park raised concerns about density and traffic in response to the original 850 home proposal, which Pulte Group downsized to 288 homes and 117 townhouses. The revised plan also preserves 40 acres for green spaces and fitness trails, and includes a buffer zone to separate the community from existing homes near the greenway. The defunct Oak Tree Golf Course stopped operating about ten years ago.
The development is pending Broward County’s approval for the land-use change and site-plan application, represented by attorney Dennis D. Mele. Prices for the townhouses would start in the $300,000s and range from $400,000 to $600,000 for the one and two-story homes.
Article by: Katya Demina
Construction Underway At The Perkins + Will-Designed 1212 Lincoln
Construction is now underway at Crescent Height’s Perkins + Will-designed 1212 Lincoln in South Beach where construction crews have already begun foundation work. The project will feature 70,000 SF of retail including a brand new Wells Fargo Bank and over 400 parking spaces. A second phase on the adjacent lot will bring a 50-room CitizenM hotel, additional retail and a food court. 1212 Lincoln will help expand Lincoln Road across Alton Road westward.
KIPANY Marketing To Relocate To Downtown Fort Lauderdale After 40 Years In NYC
KIPANY Marketing, the firm which handles marketing for The New York Times, Disney, Comcast, Verizon and Sears, is relocating to Fort Lauderdale after 40 years in NY as the exodus of business and wealth from high-tax northern states continues as they gravitate towards Florida’s income tax-free structure.
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Nukondo: Capturing the International Buyers Market in Miami
South Florida has and continues to be a hotbed for international buyers, according to the 2017 Survey conducted by the Miami Association of REALTORS. Foreign buyers purchased 15,400 residential units (between August 2016 - July 2017), totaling over $7.2 billion in sales in the Miami-Dade, Broward, Palm Beach, and Martin counties.
A new real estate tech company called Nukondo is attempting to capitalize on this market segment. Their app provides a platform for real estate developers and new construction brokers to stay informed on the latest luxury projects. It standardizes and distributes this information globally, so that buyers and their agents can decide which condominium is most suited for their needs.
After three months of beta-testing, Nukondo has successfully on-boarded 72 of the most prominent projects in Miami such as One Thousand Museum, Missoni Baia, and Turnberry Ocean Club, with over 10,000+ units in inventory. “Our app helps developers expose their projects globally 24/7, allowing them to speed up sales and cut marketing costs,” says founder Jorge Brugo. “Be informed when you’re searching for that special new condominium and make sound buying decisions.”
Nukondo exposes international buyers to the Miami and Florida markets and directs them to a condominium sales team. In Miami, these international buyers are primarily coming from:
1. Argentina: 15%
2. Venezuela: 11%
3. Canada: 11%
4. Colombia: 9%
5. Brazil: 8%
The company will move into its full release once user feedback and content curation have been finalized. The company plans to scale beyond its pilot market of Miami, into other major U.S. and international metropolitan cities.
Article by: Katya Demina & Stephanie Warren