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Miami Beach Has More Airbnb Listings Per Capita Than Any Other City In The Country

November 8, 2019
The city of Miami Beach has 3,416 Airbnb listings for every 50,000 residents, which is by far the highest of any city in the United States, according to a new study. Miami and Fort Lauderdale are not far behind, also ranking in the top 10, with 1,033, and 1,015 Airbnb listings per 50,000 residents each. The study took into consideration more than 350 cities studied by IPX1031 using Airbnb data. Catering to those that are looking to Airbnb as an investment, the company has partnered with the developer of Miami’s upcoming 604-unit Natiivo tower, which was revealed as being designed…
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Edgewater Tower: Missoni Baia Gets $243m Construction Loan

Missoni Baia, with Russian billionaire Vlad Doronin’s OKO Group and its partners, just obtained a $243.3 million construction loan granted by Security Benefit Life Insurance Corporation, according to multiple reports. The 57-story, 249-unit luxury development in Edgewater is set to become the tallest in the area at 649 feet above sea level – equaling the height of the under-construction Elysee tower and exceeding the Paraiso towers.  Missoni Baia, with prices starting in the $500,000 range, is the Italian fashion brand’s first residential project. The project is part of a trend of developers binding luxury brands to developments, the case of…
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Brazilian mogul buys Oceana Bal Harbour condo for $8M

Élvio Gurgel Rocha, director at Guararapes-Riachuelo, the biggest fashion group in Brazil and the parent company of the retail chain Lojas Riachuelo, is a new resident at Oceana Bal Harbour. He bought a three-bedroom, 3,992-square-foot unit for $8.15 million, which represents $2,041 per square foot. The former owner, as property records show, is Marc Farbstein, CEO of Hollywood-based Premium Digital Control & Automation. He paid $10.11 million for the condo in 2017, meaning he sold it for 20% less than what he paid. Lincoln Capital Investments LLC, tied to Gurgel Rocha, is the buyer, according to a source. The apartment…
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BRG Homes Launches its Limited Edition Residences in Brazil

October 26, 2019
The company unveiled ten Limited Edition Residences at Oceana Bal Harbour to set themselves apart from any other real estate company in the most unique and distinct project of all South Florida. Made possible by an exclusive partnership between BRG and the developer at Oceana, the event was hosted in Sao Paulo, Brazil, on October 22. There are three main packages to be chosen by a client, an Upgraded Designer Ready, A Bespoke Selection, and a Signature Residence, this last one being in partnership with renowned architect Sig Bergamin and Murilo Lomas. The selection varies between the ready-to-decorate, with pre-selected…
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Fontainebleau Miami Beach Plans Big Expansion, Connected By Bridge

September 13, 2019
The Fontainebleau Miami Beach, known for hosting renowned celebrities like Elvis Presley, the biggest hotel in Miami, is planning an expansion. The 1,504-room hotel would add new ballrooms and a parking garage, to be built on the company's owned surface parking lot at 4360 Collins Avenue. There is also a bridge being proposed starting from the resort, above A1A. The project will accommodate both cars and pedestrians, removing vehicles from the roadway. The new parking garage will accommodate about 500 cars, while the ballrooms could be used as an event or convention space, which the resort expects it will increase…
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MRV Engenharia, Brazil’s largest homebuilder, seeks a $200M deal with American AHS Residential

September 7, 2019
Leader in the low-income real estate market in Brazil, developer MRV Engenharia has decided it is time to go beyond "Minha Casa Minha Vida" and bet on the American market. The company is considering acquiring a 50 percent stake in AHS Residential, a company that operates in the multifamily real estate segment in the United States.  According to recent press reports, the negotiation is in its final stages, MRV will hold a shareholders meeting to vote on the proposal to invest between $220 million to $ 255 million.   AHS Residential's chairman, Rubens Menin Texeira de Souza, founded the company in…
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Miami: Office construction in the city hits a new record

Miami's office construction scored its highest level since 2009. The record is due by two factors: companies are moving here to increase their participation in the Latin America market, and tenants are relocating from high-tax states, appointed the Wall Street Journal. The 1.9 million square feet of office space in the pipeline is considerably higher than the 500,000 square feet that were planned in 2011, according to data from CBRE. This is equal to about 2.7 percent of the city's current office inventory. The chief of staff at Mana Group, Theodore Ward intends to remodel a few properties Mana acquired…
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Revealed: Melo Group files plan for its biggest project to date

August 23, 2019
Edgewater might soon be the home of a new massive twin-tower developed by Melo Group. The developer just filed the plans for Island Bay, how the building would be called, which could be the biggest development for the company until now. The 60-stories towers would rise 648 feet above the ground, matching or surpassing the height of the tallest buildings intended or finished in the neighborhood. There is a total of 782 units planned between the two towers; renderings show a zig-zag design with the balconies. Melo Group is requesting approval from Miami-Dade’s Shoreline Review Committee for the proposal. The…
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Study: Miami ranks at the top of the fastest-growing city in the U.S.

Miami is a the top of the list of the fastest-growing city in the United States, according to a new study done by researchers from Citylab. Miami is “perhaps the biggest surprise” on the list, said author Richard Florida. The analysts used the Census data from 2012 to 2017 of the top 50 U.S. cities, only big cities, no metro areas. The study shows that no other city had better job growth than Miami during that period; the number of employed in the city during that time increased by 24.1%, a result far ahead than any other city. As of…
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Developers land $67 million loan for mixed-use hotel near Brickell City Centre

Robert Finvarb and Tony Cho, co-developers for a mixed-use hotel next to Brickell City Centre, closed on a $67 million loan, according to records. The company C-F Brickell Owner LLC obtained the funding from City National Bank to build on the collection of nearly 29,000 square feet of land at 115 Southwest Eighth Street in Miami. Plans for a 21-story, 264-key dual-branded hotel on the property were approved by the Miami Urban Development Review Board in 2018. Designed by Arquitectonica, the project would also include 25,000 square feet of retail space, structured parking, and a rooftop terrace. The project is located close…
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Florida Earned $17.7b in Net Income In Just One Year From New Residents

August 16, 2019
A new study released by LendingTree shows that approximately 1,000 new residents are moving every day to Florida, generating significant gains in taxable income for the state. The new residents brought in a net of $17.7 billion in adjusted gross income, including those moving both to and from the state during the year, larger than any other state. The study concluded that Florida, so far, is the greatest winner in net income gains produced by residents moving from others state. The IRS data from 2016 was applied for the study – even before the State and Local Tax (SALT) deduction…
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Photo: Residences by Armani Casa Soon to Open in Sunny Isles

Dezer Properties and Related Group, developers of Residences by Armani Casa, have issued a new aerial picture of the tower in Sunny Isles as completion nears. The building is expected to generate a total of $1 billion in real estate sales, with above $800 million already in contract. The 56-story tower is on track to open in November, according to developers. The picture was taken a little while ago; more progress has been made since then:
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Miami: more international than ever with residents born overseas at a new record

August 10, 2019
Miami's population is growing this decade. Foreign-born population, especially Cuban, is also at a new record level, according to a new census data published by the Herald. From 2010 to 2017, the most significant growth in Miami-Dade's foreign-born population came from: Cuba – up 120,000, or 21 percent. Total now at 700,000Dominican Republic – up 20 percent. Total now at more than 41,000Venezuela – up 21,000, or 57 percent. The total population now is at 61,000Brazil – up 24 percent. Total at 15,000Southeast Asian countries – up 20 percent. Total now over 11,000.Spain – up 29 percent. Total now at more…
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Related Group reveals One Island Park in Miami Beach

June 14, 2019
Related Group has the approval for construction of the luxury condo tower One Island Park on Miami Beach's Terminal Island moving along nicely. To gain the city's support, the company is proposing to also build a new 50,000-square-foot city fleet maintenance and sanitation facility at no cost to taxpayers. Recently, the City of Miami Beach Commission collectively voted to indicate the proposal to the City's Land Use and Development Committee. "We are pleased with the 'Commission's vote to move One Island Park forward in the review process and look forward to delivering a new, upgraded City maintenance facility at no…
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Fastest growing tech scene boosts real estate in Miami

A new report released by the Financial Times puts Miami as the place to be if you are looking for technology jobs, which also serves as a booster to the real estate market of the city. The numbers are impressive; the tech industry was the fastest growing business in Miami-Dade between 2012 and 2017. In total, there were 11,440 job opportunities, up 40 percent during the five years term, according to the county economic development organization. Another statistic, this time coming from the Brookings Institution, shows that the tech scene in Miami is growing faster than in San Diego, Boston,…
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Back on top: Miami attracts Brazilian real estate investors

After two years of recession, the financial market is showing gradual signs of recovery in Brazil. The confident forecast corresponds to the interest of Brazilian foreign investors in South Florida real estate; the numbers are so positive that the Miami Association of Realtors declared the country was among the top foreign countries buying homes in the city in 2018. However, South Florida has attracted Brazilian investors for some time, not only as an alternative to their country's real estate market, to invest and establish a source of income in dollars, but also as second homes to high-end buyers. All due…
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First Interior Renderings from Okan Tower is released; Construction is Planned This Year

June 6, 2019
The Okan Tower project, an all-glass tower inspired by the Turkish national tulip flower, has launched the first interior rendering of the luxurious 70-story project. Until now, only external renderings were released. With construction starting this year, according to representatives of the developer, they are moving ahead with turning reservations to contracts. The project is 20% sold.
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Sawgrass Mills announces multimillion-dollar renovation, the mall’s largest to date

Sawgrass Mills, a massive alligator-shaped outlet mall in Sunrise, the country biggest outlet mall and amongst the largest malls and tourist destinations in America, will have its common area remodeled by late 2020, just in time for the mall’s 30th anniversary. “Sawgrass Mills has evolved into a renowned global shopping destination,” stated David Gott, Sawgrass Mills General Manager. “The center has gone through six expansions and brought a long list of retail, dining and entertainment firsts to the market in its 30 years. We are excited to embark on the property’s largest renovation to date in our mission to deliver…
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More Wealthy Moving to Florida Than Any Other State

May 31, 2019
The wealthy population of the United States was seeing ditching their high-tax states for Florida in the last few months, but a new study released by Bloomberg shows that the migration period started even before the tax changes had made the state more favorable to live. Bloomberg examined data from the Census Bureau and IRS during the years of 2016 and 2017. The results confirmed the state had gained the biggest amount of income due to migration in comparison to other states, surprisingly more than the seven times runner up Texas. The state of Florida earned $17.2 billion in net…
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Miami: what is left to sell?

ISG Miami has recently released a new report analyzing Miami's current condo cycle and predicting what is yet to come. The study shows us developers have 2,101 new development apartments left to sell from this cycle, of those, 587 units were delivered, 1,331 are under construction right now, and 183 are in the pre-construction phase. Our current cycle began in 2012, and it is essential to note that the pipeline of new units excludes projects that have been filed in the last seven years and also does not include units available in the MLS. "We're calling this the supply shock,"…
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555 River House is Coming to Miami

The distinguished architect Carlos Zapata is designing a new project called 555 River House in Miami, and it promises to change some of the Miami River area. With 175 hotel rooms and only 39 residential units, apartments will be sold at an average price of $1 million to $1.5 million ($1,150 per square feet). Sixty Hotels will run the hotel rooms and brand the residential units. Residents will share amenities with hotel guests. Another architect for the project is the office of O'Donnell Dannwolf and Partners. The project will also include: Three separate buildings 600-foot public riverwalk 120,000 square feet…
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Miami Beach convention center hotel is redesigned; review is coming next

May 24, 2019
A new design for the Miami Beach Convention Center hotel has been modified and resubmitted for review. The new renderings show significant engineering modifications, including a design with less glass. The project will be built in place of the current surface parking lot next to the Convention Center. A one-story office building and the one-story and two-story sections of the back of the Fillmore Miami Beach, in the Jackie Gleason Theater building, will also be demolished. The plans kept the same number of hotel rooms: 800, plus 320 parking spaces. The tower itself remains the same, with 17 floors, but…
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Construction of the largest mall of America is moving full speed ahead

The construction of America's largest mall is coming closer, according to a lobbyist and lawyer for developer Triple Five. In addition to the sewer project for the site being in an advanced stage, bids are being awaited until the end of the month for a state contract to extend the Turnpike and add capacity. A site plant has not yet been sent to the county, but experts say the wait is reasonable, as a project of this magnitude takes time to be designed. The project in the city of Miami will include 7.2 million square feet with towers as tall…
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Miami International Airport Sets Passenger Record in the First Quarter of 2019

May 3, 2019
Miami International Airport (MIA) set a new record in the first quarter of 2019 in comparison to the previous year. 2018 had already been a historic year when they surpassed 45 million passengers for the first time - an increase of over 1 million passengers from 2017. During the months between January and March, traffic grew 5%, with 583,073 passengers more than in the same period of 2018. Growth in the period includes 306,421 additional international passengers (+ 5.5%) and 276,652 additional passengers (+4 , 6%) domestic passengers for the same period last year. Optimism for the second half of…
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NEW VIDEO: First Look Inside Residences by Armani/Casa

Residences by Armani/Casa in Sunny Isles recently released two new videos showing both the interior and exterior of the project under construction. Scheduled for completion by November of this year, more than 80% of the units have already been sold, $800 million in condo sales, according to developers. Under the artistic direction of Giorgio Armani, Armani/Casa Interior Design Studio is behind the interior design. While César Pelli, who designed Miami's Adrienne Arsht Center for the Performing Arts and the Petronas Towers in Kuala Lumpur, is creating the exterior. https://youtu.be/nd-pa95ZOYg
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New 5.8 acres park is underway in Miami Beach

The city of Miami Beach will acquire new green space, a park with 5.8 acres. The project will transform the parking lot, already being demolished, in front of Miami Beach Convention Center in the Pride Park - the name still needs approval. The park will house the tents for the Design Miami show, which means that the main lawn area will be closed for the public for about two months annually for the assembly and disassembly of the event. About 500 trees will be planted as part of the construction. The conclusion is scheduled for December of this year in…
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Legacy Tower is Coming to Miami with a ‘Singapore Inspired’ Glass Pool

November 15, 2019
A new project was recently added to Miami Worldcenter; now it's time to the Legacy Hotel & Residences, how the project is being called, make its appearance. The mixed-use project will feature 255 hotel room keys, along with 278 condo-hotel units. A cantilevered glass pool juts out off the top of the 50-story tower is planned. According to a press release, the pool is declared to be "Singapore inspired," which is most likely a reference to the infinity rooftop pool at the Marina Bay Sands towers in Singapore. Right next to the pool, there will be a bar, and a…
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Revealed: 32-Story Paraiso Place is Planned to Edgewater

Another tower was also released this week, this one in the Edgewater neighborhood, called Paraiso Place. Miami Urban Development Review Board will analyze the project on a hearing on November 20th. The tower is planned to rise 32 stories or 373 feet above the ground and feature 279 residential units with 300 parking spaces, below what is required by zoning, but a waiver for a 30% decrease in zoning was also requested. On the ground floor, 4,063 square feet of retail space is being planned. A pedestrian path will be created on NE 31st Street as part of the project…
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Jeffrey Soffer secures $1.2B refi of Fontainebleau Miami Beach

Jeffrey Soffer settled on a $1.175 billion refinancing of the Fontainebleau Miami Beach, making the amount the latest contribution to restructuring the debt of the beachfront resort. Goldman Sachs, JP Morgan, and Morgan Stanley granted the fixed-rate loan, according to a press release from Newmark Knight Frank. The Soffer family-led Turnberry Associates spent $325 million for the nearly 1,600-key hotel at 4441 Collins Avenue in Miami Beach in 2005. They spent another $15 million for a nearby lot where an extension is planned. Turnberry also spent $650 million on gutting and renovating the historic hotel. Designed by architect Morris Lapidus,…
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Brickell Flatiron Reaches Completion, Becoming Miami’s Fourth Tallest Tower Ever Built

November 1, 2019
Brickell Flatiron approached its conclusion, becoming now the fourth tallest skyscraper ever built in Miami and the tallest all-condo building south of New York. Soon, hundreds of new residents will begin to move into Brickell as closing is about to begin. There is a total of 527 residential units, with 95 percent sold. The tower, with 64 stories and 736 feet above the ground, as seventy percent of the building’s buyers coming from the U.S. market. There is only three towers in Miami taller than Brickell Flatiron: Panorama Tower (868 feet above ground), Four Seasons (around 800 feet above ground),…
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President Trump is now a full-time Florida man

President Donald Trump will relocate his home address from New York to Florida, where he will pay far less state and local taxes. In addition to the financial motivation, the change could have a positive impact on his presidential candidacy in 2020 in a rather difficult state to conquer. The president's home, which was once a three-story penthouse at Trump Tower in Midtown Manhattan, now becomes the 128-room Mar-a-Lago mansion, his famous residence at the Palm Beach golf resort where he spends his winter weekends to escape the cold of Washington. "I cherish New York, and the people of New…
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Video: Hard Rock Opens Guitar Hotel

Have you thought about spending a few days inside a guitar? No? Well, now you may want to reconsider your answer. That's because the Seminole Hard Rock Hotel officially opened its $1.5 billion Guitar Hotel expansion last week. The Guitar Hotel, a 638-room project, rises 450 feet, and it is just one of many other attractions included in the renovation. A new spa and fitness center spanning over 42,000 square feet, 13.5 acres of recreational water space with swimming, kayaking and paddleboarding, a luxury meeting and convention spaces add to the entertainment options, shopping, and more. The proposal, according to…
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A New 150-ROOM HOTEL is planned to SOUTH BEACH

October 26, 2019
A brand new hotel is coming to South Beach, this time at the former Citibank branch, which has already been demolished. The Thompson South Beach hotel will accommodate 150 rooms, with a ground-floor restaurant, as well as a rooftop restaurant and bar next to a pool. Also, on the ground floor will be a replacement to the Citibank branch, the former one was on the site since 1996. Last month a demolition permit was applied, according to city records, but no construction permits have been filed yet. The proposal was examined by the Miami Beach Planning Board last year. Rudy…
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Call Us At: 305 397 8788
605 Lincoln Road Suite 302 Miami Beach, FL 33139
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Contact Us

Call Us At: 305 397 8788

605 Lincoln Road Suite 302 Miami Beach, FL 33139

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