MG Developer, one of the most active developers in Coral Gables, has acquired a parcel of land at 33 Alhambra in Coral Gables’ Northside entrance and has announced plans to build a new mixed-use condominium community. Named Alhambra Parc, the project will feature with 33 luxury condominiums and retail on the ground floor. This acquisition was made in partnership with VYV.
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Pebb Capital and LeaseFlorida Sell Hampton By Hilton at The Continental in Miami Beach For $43.9 Million
Pebb Capital and LeaseFlorida have sold the Hampton by Hilton at The Continental in Miami Beach, Florida for $43.90 million. The sale closed on June 15 to a privately held LLC. The JV renovated the historic structure in 2016 for $25 million. This deal is a record for the Hampton flag, marking the second-highest price per key in the brand’s portfolio and is significant for the area.
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ALTARA Properties Oversees Leasing Of Key Biscayne’s “Miami Vice” Estate On Mashta Island For $100,000 Per Month
ALTARA Properties has successfully overseen the leasing of 400 S Mashta Drive on Key Biscayne which was featured in “Miami Vice” for $100,000 per month. The transaction was brokered by Scott Lawrence Porter of ALTARA Properties and Nile Lundgren of SERHANT who represented the tenant and by Brigitte De Langeron of Fortune International Realty Key Biscayne Inc. who represented the landlord.
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Pebb Capital And LeaseFlorida Sell Trophy Miami Beach CVS For $17.73 Million
Pebb Capital, in a partnership with LeaseFlorida, has sold a trophy retail condominium asset on Miami Beach for $17.73 million to California-based Cove Capital Investments. CVS Health (CVS), the largest national pharmacy health care provider and a publicly traded company, is the long-term tenant, which signed a 25.5-year lease in May 2021.
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Block E In Downtown Miami's Arts & Entertainment District Trades For $19.75 Million
A 37,252-square-foot development site known as Block E at 1550 NE Miami Place in the heart of the Arts and Entertainment District has traded for $19.75 million. The site is located within the boundaries of the opportunity zone and is zoned T6-24a O which allows the developer to build up to seven times the property land square footage and up to 500 units per acre.
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Boynton Beach Office Building Sells For 75% Value Increase In 1 Year
An Atlanta and South African-based buyer, OrbVest US, Inc., recently closed on Congress Executive Center, a 4-story medical and professional building located at 1301 N. Congress Avenue in Boynton Beach, FL. The property, which was 100% occupied, closed on May 12, 2022, for $11 million. The transaction represents a 75% increase in value in just one year.
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Owner Of The Versace Mansion Acquires 1930's Era Miami Beach Boutique Hotel For $6 Million
The Nakash family, owner of several Art Deco hotels and South Beach’s former Versace Mansion, has acquired a 1930’s era boutique hotel located at 1350 Collins Ave. in Miami Beach. Renowned architect Wallace Tutt, who designed the Versace Mansion a few blocks away, also designed the building’s three villas.
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Shoma Group Acquires 2.5 Acre Transit-Oriented Site in Coral Gables To Develop Shoma One Mixed-Use Multifamily
Miami-based developer Shoma Group has announced its latest acquisition, a 2.5-acre site at 3650 Bird Road, currently home to Deel Volvo, near Coral Gables for $34 million. It will be the site of Shoma One, a mixed-use project with a 391-unit apartment community and a Shoma Bazaar food hall. The development is expected to cost $220 million to build.
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PEBB and Banyan Development Acquire Seven Building Portfolio at the Research Park at Florida Atlantic University® For $37.5 Million
PEBB Enterprises and joint venture partner Banyan Development closed another major office acquisition in the companies’ home base of Boca Raton. The venture paid $37.5 million for a long-term ground leasehold interest position in the Research Park at Florida Atlantic University®, consisting of a portfolio of seven multi-tenant office buildings totaling 308,305 SF.
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Limestone Acquires PLANTA Property In Miami Beach's Ritzy South-Of-Fifth For $12 Million
Miami-based Limestone Asset Management has acquired the flagship South-of-Fifth property which is home to PLANTA in Miami Beach for $12 million. The 7,835 SF building was completed in 2018 as the first built-to-suit and the first PLANTA in the state of Florida and sits on a 9,148-square-foot (0.21-acre) lot. The property is located at 850 Commerce Street, Miami Beach.
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