Home price index - Miami real estate
December 28th, 2010 -Robert Shiller talks about the decline in home prices in October on Bloomberg TV.
Contact MLR Realty at 305-673-3303 to speak with a Miami real estate agent regarding homes and condos for sale in Miami.
Showing posts with label South Beach. Show all posts
Showing posts with label South Beach. Show all posts
Tuesday, January 11, 2011
Luxury home for sale in Miami Beach, Biggest price cut
Luxury homes for sale in Miami Beach - Miami real estate
The Miami real estate property to see the biggest price cut this week was a luxury home for sale in Miami Beach.
The $2.495 million luxury home for sale in Miami Beach saw a $255,000, or 9 percent, price drop since it was originally placed on the market at $2.8 million in March. The price was last cut to $2.75 million in April.
The $2.495 million luxury home for sale in Miami Beach saw a $255,000, or 9 percent, price drop since it was originally placed on the market at $2.8 million in March. The price was last cut to $2.75 million in April.
Full Details...Luxury home for sale in Miami Beach, Biggest price cut
Thursday, November 18, 2010
Management picked for Royal Palm Hotel
The Royal Palm Hotel - Miami Commercial Real Estate
Sunstone Hotel Investors has selected Denihan Hospitality Group to manage The 407-unit Royal Palm Hotel at 1545 Collins Avenue in South Beach. This will be the first entry for the company in the Miami hotel market. The Miami commercial property was sold at auction this summer for $126.1 million and will undergo renovations aimed at a 2011 reopening. Denihan manages 14 properties in four cities under the James and Affinia brands.
Sunstone Hotel Investors has selected Denihan Hospitality Group to manage The 407-unit Royal Palm Hotel at 1545 Collins Avenue in South Beach. This will be the first entry for the company in the Miami hotel market. The Miami commercial property was sold at auction this summer for $126.1 million and will undergo renovations aimed at a 2011 reopening. Denihan manages 14 properties in four cities under the James and Affinia brands.Foreign buyers keep residential Miami real estate afloat
Foreign Buyers - Residential Miami real estate
The residential Miami real estate market continues to be driven by International buyers, particularly from Latin American countries like Brazil.
Full Article...Foreign buyers keep residential Miami real estate afloat
The residential Miami real estate market continues to be driven by International buyers, particularly from Latin American countries like Brazil.According to data from the Miami Association of Realtors, in October, pending home sales for single-family homes and Miami condominiums, increased 23.6 percent compared to October 2009. Last month there were 10,264 pending home sales, up from 8,304 in October 2009. Many of these residential Miami real estate sales were driven by foreign buyers, mainly from Brazil.
Full Article...Foreign buyers keep residential Miami real estate afloat
Wednesday, November 10, 2010
Fisher Island Condos – Biggest Price Cut
Fisher Island Condo - Miami Beach real estate
The Miami Beach real estate listing to see the biggest price cut this week is a Fisher Island condo. This three-bedroom, three-and-a-half-bathroom condominium was originally listed for $3.3 million when it hit the market in May.
Full Article...Fisher Island Condos – Biggest Price Cut
Full Article...Fisher Island Condos – Biggest Price Cut
Thursday, October 7, 2010
The Heat’s Chris Bosh buys Miami Beach Home
Miami Beach Homes, Miami Real Estate
Following his joining Miami’s basketball team, Heat’s big man, Chris Bosh, has purchased one of the Miami Beach homes located on North Bay Road. The 12,000-square-foot mansion is just south of La Gorce Island and was purchased by Chris Bosh for $12.5 million. The seven-bedroom, eight-bathroom mansion was built in 2009 and sold for $12.5 million, $3.5 million less than the listing price.
Full Article...The Heat’s Chris Bosh buys Miami Beach Home
Full Article...The Heat’s Chris Bosh buys Miami Beach Home
Wednesday, September 22, 2010
46 units purchased at the Capri South Beach Condos
Capri South Beach condos, Miami Beach real estate
With the intent of performing various renovations, Nadim Achi and Miami-based Fort Capital Management purchased 46 units out of a total 69 in the Capri South Beach condo building at the end of May. They have a five-year plan to sell the units with an eye toward buyers in New York and Brazil. Fort Capital's Achi is part of a new trend of bulk buyers that are now purchasing Miami Beach real estate but taking a more patient approach instead of flipping quickly like some investors do.
Peter Zalewski, founder of Condo Vultures, comments that: "It's kind of the trend now. There's a commitment of capital by the bulk buyer, it's different than what you had seen previously, where you buy and then try to resell. Now they buy and wait, and they're going to be more stringent on the prices they accept."
Peter Zalewski, founder of Condo Vultures, comments that: "It's kind of the trend now. There's a commitment of capital by the bulk buyer, it's different than what you had seen previously, where you buy and then try to resell. Now they buy and wait, and they're going to be more stringent on the prices they accept."
Full Article....46 units purchased at the Capri South Beach Condos
Thursday, September 9, 2010
"Leftover" Luxury Miami Beach Homes
Luxury Miami Beach Homes, Miami real estate
At the peak of the market in 2005 there were many ultra luxury Miami Beach homes built. Some of these Miami Beach homes were priced over $20 million and sat on the market idle through the end of the boom. Now these homes in Miami, referred to as "leftover houses" by Nelson Gonzalez, senior vice president at Esslinger-Wooten-Maxwell, are selling quickly.
Gonzalez says that "They put in all the best appliances, doors, hardware, landscaping, and moldings where before people used to skimp a bit, and the developers thought that the market was never going to end, and put in all the best of the best."
Full Article...."Leftover" Luxury Miami Beach Homes
At the peak of the market in 2005 there were many ultra luxury Miami Beach homes built. Some of these Miami Beach homes were priced over $20 million and sat on the market idle through the end of the boom. Now these homes in Miami, referred to as "leftover houses" by Nelson Gonzalez, senior vice president at Esslinger-Wooten-Maxwell, are selling quickly.Gonzalez says that "They put in all the best appliances, doors, hardware, landscaping, and moldings where before people used to skimp a bit, and the developers thought that the market was never going to end, and put in all the best of the best."
Full Article...."Leftover" Luxury Miami Beach Homes
Thursday, August 19, 2010
Miami foreclosure auction brings in $9.3 million
Miami Homes - Miami Real Estate
On August 1st, South Florida bargain hunters bought 154 foreclosed Miami real estate properties totaling $9.3 million at an auction in the Miami Beach Convention Center. That averages out to $60,390 per property.
The auction company, REDC, said that one home in Fort Lauderdale sold for $20,000. That was 91 percent less than its previous high value. And in Delray a home sold for $99,750, which was 51 percent off its highest value.
The auction company, REDC, said that one home in Fort Lauderdale sold for $20,000. That was 91 percent less than its previous high value. And in Delray a home sold for $99,750, which was 51 percent off its highest value.
Full Article...Miami foreclosure auction brings in $9.3 million
Royal Palm Hotel auctioned for $126M
Miami Beach Hotel - Miami Foreclosure
The Royal Palm, a Miami Beach hotel located at 1545 Collins Avenue, was bought for $126.1 million by Sunstone Hotel Investors at a Miami foreclosure auction on Monday. The company, based in California, now owns 31 hotels with 11,722 rooms, including the 409 rooms at the Royal Palm. The Royal Palm was the first Miami Beach hotel to be owned by an African American almost 20 years ago. Developer Guy Mitchell lost it now to Miami foreclosure.
Full Article...Royal Palm Hotel auctioned for $126M
The Royal Palm, a Miami Beach hotel located at 1545 Collins Avenue, was bought for $126.1 million by Sunstone Hotel Investors at a Miami foreclosure auction on Monday. The company, based in California, now owns 31 hotels with 11,722 rooms, including the 409 rooms at the Royal Palm. The Royal Palm was the first Miami Beach hotel to be owned by an African American almost 20 years ago. Developer Guy Mitchell lost it now to Miami foreclosure.Full Article...Royal Palm Hotel auctioned for $126M
Tuesday, August 17, 2010
Sales of Miami Hotels Increasing
Miami hotels - Miami commercial real estate
In the first half of 2010 within sales of Miami commercial properties there were 322 Miami hotels transactions, according to Lodging Econometics, a hotel real estate tracking firm. This year’s individual transactions, portfolio transactions and merger and acquisition transfers have put Miami hotels back on track. At this rate, sales of Miami hotels will exceed the 2009 activity level, when just 506 such transactions were completed.
Full Article....Sales of Miami Hotels Increasing
In the first half of 2010 within sales of Miami commercial properties there were 322 Miami hotels transactions, according to Lodging Econometics, a hotel real estate tracking firm. This year’s individual transactions, portfolio transactions and merger and acquisition transfers have put Miami hotels back on track. At this rate, sales of Miami hotels will exceed the 2009 activity level, when just 506 such transactions were completed. Full Article....Sales of Miami Hotels Increasing
Monday, August 9, 2010
South Beach Hotel Traymore hit with foreclosure
Hotels in South Beach - Miami Commercial Property
Full Article...South Beach Hotel Traymore hit with foreclosure
The Traymore Ho
tel in South Beach can be added to the list of Miami Beach hotels hit with foreclosure this year. On July 28, the 13 story hotel in South Beach on 24th Street and Collins Avenue was hit with a foreclosure suit in Miami federal court by OSM-REO Traymore, an affiliate of Minneapolis based Marshall Investments. The 46,149 square foot Traymore Hotel was built in 1939 and then bought by Ceebraid-Signal in 2001 for $6 million.
Ceebraid-Signal had plans to renovate the Miami commercial property which was schedule to reopen in the summer of 2011. The hotels website stated that the renovations would include a spa, rooftop meditation garden and a new restaurant by Michelle Bernstein. There are numerous vendors listed in the lawsuit against CSC Traymore with claims over work done for renovations.
tel in South Beach can be added to the list of Miami Beach hotels hit with foreclosure this year. On July 28, the 13 story hotel in South Beach on 24th Street and Collins Avenue was hit with a foreclosure suit in Miami federal court by OSM-REO Traymore, an affiliate of Minneapolis based Marshall Investments. The 46,149 square foot Traymore Hotel was built in 1939 and then bought by Ceebraid-Signal in 2001 for $6 million. Ceebraid-Signal had plans to renovate the Miami commercial property which was schedule to reopen in the summer of 2011. The hotels website stated that the renovations would include a spa, rooftop meditation garden and a new restaurant by Michelle Bernstein. There are numerous vendors listed in the lawsuit against CSC Traymore with claims over work done for renovations.
Full Article...South Beach Hotel Traymore hit with foreclosure
111 New Sunny Isles condos sold in second quarter
Sunny Isles Condos - Miami Beach Real Estate
Full article...111 New Sunny Isles condos sold in second quarter
According 
to a report from Condo Vultures, in the second quarter of 2010 there were 111 new Sunny Isles condos sold, reducing unsold developers inventory to 20 percent. The Sunny Isles condos sold for a total of $102.2 million in buildings that have been constructed in the area since 2003. That is an average of $475 per square foot.
According to the report, based on Miami-Dade County records, out of nearly 6,350 new Sunny Isles condos developed in the last seven years, less than 1,300 developers units now remain unsold or are still under construction.
to a report from Condo Vultures, in the second quarter of 2010 there were 111 new Sunny Isles condos sold, reducing unsold developers inventory to 20 percent. The Sunny Isles condos sold for a total of $102.2 million in buildings that have been constructed in the area since 2003. That is an average of $475 per square foot.According to the report, based on Miami-Dade County records, out of nearly 6,350 new Sunny Isles condos developed in the last seven years, less than 1,300 developers units now remain unsold or are still under construction.
Full article...111 New Sunny Isles condos sold in second quarter
Wednesday, August 4, 2010
Artecity developers file for Chapter 11
Condos in South Beach, Miami Beach real estate
After being faced with the loss of their project to a foreclosure action, the developers of the Artecity condos in South Beach filed for bankruptcy. On Tuesday, the seven entities related to the project made filings in bankruptcy court. The liabilities ranged from $10 million to $50 million.
The filings, by Corus Construction Venture a partnership between the FDIC and Starwood, were made in an effort to stop the foreclosure lawsuit filed in March. Artecity condos in South Beach were intended as a 202 unit project, divided between new a building and a renovation of the Governor Hotel.
Full Article....Artecity developers file for Chapter 11
After being faced with the loss of their project to a foreclosure action, the developers of the Artecity condos in South Beach filed for bankruptcy. On Tuesday, the seven entities related to the project made filings in bankruptcy court. The liabilities ranged from $10 million to $50 million.The filings, by Corus Construction Venture a partnership between the FDIC and Starwood, were made in an effort to stop the foreclosure lawsuit filed in March. Artecity condos in South Beach were intended as a 202 unit project, divided between new a building and a renovation of the Governor Hotel.
Full Article....Artecity developers file for Chapter 11
Wednesday, July 28, 2010
Seville Hotel sold for in $58M short sale
Hotels in Miami - Miami Commercial real estate
Complete Article....Seville Hotel sold for in $58M short sale
An affiliate of C
ourtyard by Marriott purchased one of the hotels for sale in South Beach, the Seville, for $57.5 million. The foreclosure claim filed on the Miami commercial real estate property was $9.5 million more then what it was purchased for.
ourtyard by Marriott purchased one of the hotels for sale in South Beach, the Seville, for $57.5 million. The foreclosure claim filed on the Miami commercial real estate property was $9.5 million more then what it was purchased for.The $67 million foreclosure lawsuit against Fortune International President Edgardo Defortuna and Lionstone Group managing member Alfredo Lowenstein was promptly released when the short sale was allowed by First Bank Puerto Rico on June 30th.
Complete Article....Seville Hotel sold for in $58M short sale
Thursday, July 8, 2010
Miami Condos for Sale – 15% price Reduction
Miami condos for sale, Miami Beach real estate
The biggest price reduction as of July 1st for Miami condos for sale is a 3,058 square foot listing in Miami Beach. According to data from Condo Vultures Realty, this three bedroom, three bathroom condo located at Murano Grande Portofino in Miami Beach was reduced in price by 15%.
Full Article...Miami Condos for Sale – 15% price Reduction
The biggest price reduction as of July 1st for Miami condos for sale is a 3,058 square foot listing in Miami Beach. According to data from Condo Vultures Realty, this three bedroom, three bathroom condo located at Murano Grande Portofino in Miami Beach was reduced in price by 15%.
Full Article...Miami Condos for Sale – 15% price Reduction
Tuesday, June 15, 2010
$52 Million in Miami Beach real estate transactions
Miami commercial property, Miami Beach real estate
Full article...$52 in Miami Beach real estate transactions
Fort One Real Estate Investments, an investment fund with ties in Miami and Washington, D.C., says it has closed $52 million dollars in transactions for several Miami Beach real estate properties including a Miami commercial property.
Fort One Real Estate said, in a news release that it has closed on the purchase of the 48 unsold South Beach condos at the Capri Condominium totaling $31 million dollars....
Fort One Real Estate said, in a news release that it has closed on the purchase of the 48 unsold South Beach condos at the Capri Condominium totaling $31 million dollars....
Full article...$52 in Miami Beach real estate transactions
Friday, June 4, 2010
Foreigners flock to buy Miami condos again
Miami Condos - Miami Beach Real estate
Almost 800 Canadians will be at the Florida Homebuyers Seminar hosted by FHFC (Florida Home Finders of Canada) in Toronto tonight. The seminar will show Canadian’s the many issues involved with the purchase of South Florida and Miami beach real estate and why there has never been a better time for then to do so.
Canadians aren’t the only foreign buyers racing to Florida to buy up Miami condos and other Miami Beach properties. Brazilian buyers and French buyers encourage by rock-bottom are buying up Miami condos as well. Luxury Miami condos and Miami Beach real estate properties are again popular among Latin America buyers who purchase them as investments but also as a second home for when their children go to school here. Other international, especially in countries where the currency is strong against the dollar, are flocking to South Florida too.
Canadians aren’t the only foreign buyers racing to Florida to buy up Miami condos and other Miami Beach properties. Brazilian buyers and French buyers encourage by rock-bottom are buying up Miami condos as well. Luxury Miami condos and Miami Beach real estate properties are again popular among Latin America buyers who purchase them as investments but also as a second home for when their children go to school here. Other international, especially in countries where the currency is strong against the dollar, are flocking to South Florida too.
Full Articles...Foreigners flock to buy Miami condos again
Monday, May 24, 2010
$351M Debt - Icon Brickell Condos seized
Brickell condos, Miami real estate
The Icon B
rickell condos, the Related Group of Florida’s development, were turned over to the banks on May 11 after owing $351.3 million on the project’s loan.
In 2006, HSBC Realty Credit Corporation and other lenders granted a $502 million mortgage on the Brickell condos, Towers 1 and 2.
In June 2009, the loan matured and even with discounting the 1,800 Icon Brickell condos and acquiring buyer financing, the Related Group couldn’t close it out.
Full article...$351M Debt - Icon Brickell Condos seized
The Icon B
rickell condos, the Related Group of Florida’s development, were turned over to the banks on May 11 after owing $351.3 million on the project’s loan.In 2006, HSBC Realty Credit Corporation and other lenders granted a $502 million mortgage on the Brickell condos, Towers 1 and 2.
In June 2009, the loan matured and even with discounting the 1,800 Icon Brickell condos and acquiring buyer financing, the Related Group couldn’t close it out.
Full article...$351M Debt - Icon Brickell Condos seized
Friday, May 7, 2010
Miami restaurant for sale, Miami commercial properties
Dave & Busters Miami sell for $570 Million
Dave & Buster’s reported in a news release on Monday that their Miami commercial properties will be sold for $570 million. The buyer, Oak Hill Capital Partners, an independent private equity firm, has ties to the Bass family of Fort Worth, Texas.
Wellspring Capital Management, LLC currently owns Dave & Buster’s, which has Miami commercial properties in Miami and Hollywood. It previously mentioned placing its Miami restaurant for sale as a concept which would include 56 entertainment restaurants that cater to adults.
Full article...Miami restaurant for sale, Miami commercial properties
Subscribe to:
Posts (Atom)