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Porsche Design Tower closing tops Miami-Dade’s weekly condo sales

The Porsche Design Tower in Sunny Isles Beach (Porsche Design Tower Miami) Miami-Dade County condo sales rebounded last week. Dollar volume last week totaled $179 million, nearly double the $90.9 million from the week before. Sales reached 240, compared with 138 the previous week. Leaflet map created by Adam Farence | Data by © OpenStreetMap, under ODbl. Condos sold for an average price of about...

Tortoise Properties nabs $89M construction loan for downtown West Palm apartments

Renderings of the project with Tortoise Properties President, CEO and co-founder Jake Geleerd and Chairman and co-founder Kelly Brannen (MSA Architects, Carlos Aristizabal) Tortoise Properties scored an $88.5 million construction loan for a multifamily project in downtown West Palm Beach. The real estate investment firm plans a pair of eight-story buildings with 264 units at 740 and 840 North Dixie...

Miami self-storage firm buys Medley industrial site for $38M

Miami City Self Storage’s Steve Garchik, Jay Massirman and Megacenter Palmetto at 8600 Northwest South River Drive in Medley (Miami City Self Storage, Google Maps, SJM Partners) Looking to capitalize on demand from small warehouse tenants, a Miami-based firm specializing in self-storage facilities is expanding into industrial buildings with its recent $37.5 million purchase in Medley. An affiliate of...

Two years after George Floyd’s death, is real estate honoring its pledges?

Pam Liebman, Bess Freedman and James Whelan In the days following the May 2020 murder of George Floyd by a Minneapolis police officer, real estate leaders did something unusual for an industry that tends to shy away from social issues: They spoke out.  Many pledged a renewed focus on ensuring their workforce was diverse and inclusive, that employees of color felt supported and saw a path to advance their...

Billionaire Milwaukee Bucks co-owner sells Miami Beach condo

Jamie Dinan with 3315 Collins Avenue, unit 14A (Getty, Zillow) Another hedge fund manager has left Faena House. Billionaire Jamie Dinan, founder and CEO of New York-based York Capital Management and a co-owner of the Milwaukee Bucks, sold his five-bedroom, six-and-a-half-bathroom condo at the ultra luxury building for $18.7 million. A trust in Dinan’s name sold unit 14A at 3315 Collins Avenue, property...

Avanti pays $181M for apartment building near Brightline’s MiamiCentral

From left: Estate Companies Jeffrey Ardizon, Avanti’s Christian Garner, and Estate Companies Robert Suris with Soleste Grand Central (Estate Companies, Avanti) The Estate Companies sold the Soleste Grand Central apartment building it developed near Brightline’s downtown Miami station for $181 million. Avanti Residential, a Denver-based investor and owner-operator of multifamily real estate, bought the...

Pebb JV buys Boca Raton office complex for $30M

From left: Contrarian Capital’s Jon Bauer and Pebb Enterprises’ Ian Weiner with Meridian Office Center (Pebb Enterprises, Impact Space) Pebb Enterprises tripled its office holdings in a Boca Raton business park with a $29.8 million joint venture acquisition. The Boca Raton-based private equity real estate firm, led by CEO Ian Weiner, and Greenwich, Connecticut-based Contrarian Capital Management...

Northlink scores approval for condo project on Denny’s site in North Beach

A rendering of 7140 Collins Avenue (Revuelta Architecture International)   New York real estate firm Northlink Capital plans to build a condo project with co-living on a Denny’s-anchored property in Miami Beach, where the previous developer had planned a mixed-use hotel. Northlink, led by Robert Rosenthal, secured approval from the Miami Beach Design Review Board on Tuesday for the proposed project at...

Location Ventures completes Villa Valencia condo project in Coral Gables

Rendering of Villa Valencia and Location Ventures’ Rishi Kapoor (Location Ventures, Smith Aerial) Developer Rishi Kapoor’s Location Ventures completed Villa Valencia, a luxury Coral Gables condo project that’s been four years in the making. Villa Valencia, a 13-story, 39-unit building at 501 to 525 Valencia Avenue is 95 percent sold with $100 million in closings so far. Three units are left,...

Ranking New York’s most active developers

From left: Vorea Group’s Peter Papamichael, Turnbridge Equities’ Andrew Joblon and Chetrit Group’s Joseph Chetrit New York City sprang back to life in the spring of 2021, and its busiest builders were no exception. In the past year, the city’s 20 most active developers filed plans to build nearly 16 million square feet of projects across the five boroughs. Now, they face a whole new set of...

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