New Miami Skyscraper Offers Views of Bahamas, Developer Claims

Categories: Unreal Estate

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Miami may have tons of Cuban influence, but sometimes we forget that the closest foreign country to our shores is the Bahamas. Bimini is just a little more than 52 miles off the coast of downtown Miami (that's closer than West Palm Beach), and a developer claims you'll actually be able to see the island from the top of his new skyscraper.

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Residents Livid as Developer Demolishes Historic Hotel After Promises to Renovate

Categories: Unreal Estate

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The list of architects who worked on North Beach's Biltmore Terrace Hotel reads like a dean's list of Miami greats: Albert Anis, Melvin Grossman -- and the biggest name of all, Morris Lapidus, the man behind the Fontainebleau and the Eden Roc. The rectangular beachfront space at 87th Street and Collins Avenue, built in 1951, once advertised itself as "the hotel with the wholesome family atmosphere"; today it still wins over fans as an iconic example of MiMo architecture.

"That's what North Beach is all about," says Kirk Paskal, who lives nearby and founded the North Shore Historic District Neighborhood Association.

But now community members are livid after a developer that promised to restore the building abruptly began demolishing it instead.

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Miami Leads Nation in Millennials Who Still Live With a Parent

Categories: Unreal Estate

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Last month, the Miami Herald published a column titled
"Downtown Miami a Magnet for Millennials." That's also a myth that the Downtown Development Authority and other city leaders like to push from time to time as well.

Of course, we all know this is a stretch of the truth at best, if not a downright lie. Most millennials in Miami (or anywhere else for that matter) simply can't afford to pay $1,800 a month for a glorified studio in the area.

As it turns out, the true magnet for millennials in Miami is mom or dad's house.


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FAA Pushes Back Against Miami High-Rises, Wants Some Planned Mega-Towers Cut in Half

Categories: Unreal Estate

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Developers are busy dreaming up ways to fill downtown Miami with even more mega-skyscrapers.

Airplanes taking off and landing at Miami International Airport regularly fly above downtown.

It's someone's job to make sure skyscrapers and airplanes don't become tragic problems for each other, and that someone is the Federal Aviation Administration. In fact, the FAA sent letters to the developers of four planned mega-towers in downtown Miami last month demanding their heights be chopped down, in some cases by more than half.

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A-Rod Sued for Screwing Ex-Brother-in-Law Out of Real Estate Profits

Categories: Unreal Estate

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Photo by Keith Allison | Wikimedia Commons CC 2.0
These days, Alex Rodriguez must spend more time in courtrooms and lawyer's offices than he does on the field. The suspended slugger is now facing a civil lawsuit accusing him of screwing his former brother-in-law out of profits from real estate dealings in Miami's Edgewater and Morningside neighborhoods.

Back in 2003, Rodriguez and Constantin Scurtis, the brother of his then-wife Cynthia, agreed to invest in properties in Edgewater. Which, considering that Edgewater is now the city's biggest developer hotspot, was actually a great idea.

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Miami Leads the Nation in Home Price Gains for 2014

Categories: Unreal Estate

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Photo by Roberto Bowyer's Flickr | MNT Pool
Hope your New Year's Resolution isn't to buy a new house, because residential property prices have surged higher here in Miami than in any other major market in the country according to the latest data from the S&P/Case-Shiller Home Price Indices.

Between October 2013 and October 2014, average prices here appreciated by 9.5 percent. Only San Francisco, which continues to get infused with tech money, came close with a 9.1 percent appreciation.

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Jordache Jeans Family Buys Setai Hotel for $90 Million

Categories: Unreal Estate

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Photo: Daniel Christensen | WikiCommons | CC2.0

The family who owns Jordache Jeans got themselves a nice Christmas present: South Beach's Setai hotel. They're under contract to buy the iconic beachfront property for $90 million. They're the same family that last year bought up the Versace Mansion for $41.5 million, and already owned the Viceroy hotel on Ocean Drive and four other hotels in Miami.


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Rich New Yorkers Talking About How Cheap It Is to Live in Miami Will Make You Cry

Categories: Unreal Estate

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Photo via Roberto Bowyer's Flickr | MNT Pool

Everyone knows that Miami's condo boom is being fueled by South American buyers, but many of the American citizens snapping up properties here tend to be New Yorkers.

Well, the New York Times, whose coverage of Miami tends to be notoriously tone deaf when read by actual Miamians, is here to remind us of how happy New Yorkers are to help us drive our real-estate prices up to Manhattan-like heights.


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Mega Skyscraper, World Trade Center, Proposed for Downtown Miami

Categories: Unreal Estate

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via The Next Miami
A 935-foot skyscraper has been proposed for downtown Miami. It's dubbed "The World Trade Center of the Americas" (which isn't a sensitive and awkward choice of names at all), though there will more than trade going on there. The plan calls for a mixed bag of residential units, hotel rooms, and office space.

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Miami Is Running Out of Retail Space

Categories: Unreal Estate

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Thanks mostly to tourists with fat wallets, the retail sector in Miami has reached an all-time high, and retailers are scrambling to get a piece of the action.

Retail space vacancy rates have hit 3.8 percent, and the average rent in the third quarter of 2014 was $45.18 per square foot. That's up a whopping $4.83 per square foot and $7.43, year over year.

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