After cashing out of Rockstar Energy in a multibillion-dollar sale to PepsiCo five years ago, founder Russell Weiner turned his attention from energy drinks to luxury Florida real estate. Weiner, who says he recently changed his name to Russell Savage, an homage to his father’s radio name, started with a pair of modest flips. In … Read more
Mortgage applications slightly increased 0.2% for the week ending Nov. 21, according to the Mortgage Bankers Association (MBA). It’s a tick up from a week ago when new home loan demand decreased 5.2%. Meanwhile, the refinance share of mortgage activity decreased to 53.4% of total applications from 55.4% the previous week. The adjustable-rate mortgage (ARM) … Read more
Naftali Group closed on nearly half a billion in financing for its JEM Private Residences at Miami Worldcenter. The New York-based development firm secured $235 million in C-PACE financing from Darien, Connecticut-based Nuveen Green Capital, and $230 million in traditional construction loans from BHI, the U.S. arm of Israel-based Bank Hapoalim, according to a press … Read more
Miami Dade College’s board of trustees is hitting the reset button on a land giveaway for Donald Trump’s planned $950 million presidential library and high-rise complex next to downtown Miami’s Freedom Tower, bowing to a legal challenge that accused the school’s leaders of skirting Florida’s open-government rules. The board will hold a newly noticed public … Read more
Commercial real estate investor Robert Rivani paid $23 million for a waterfront Miami Beach mansion, The Real Deal has learned. Rivani, who leads his Miami-based firm Rivani, formerly called Black Lion, plans to spend millions of dollars to renovate the 9,200-square-foot mansion at 16 Palm Avenue, according to sources. Rivani lives in Miami’s Morningside and … Read more
There is “a very good chance” that President Donald Trump will announce his pick to lead the Federal Reserve before Christmas, according to the Cabinet official leading the search process. Current Fed Chair Jerome Powell‘s term will expire in May, and Trump’s early announcement of Powell’s successor could influence interest rates, including mortgage rates, by … Read more
A Marion Sims Wyeth-designed compound in Palm Beach’s Estate Section has just hit the market for $59 million—just over a year after it was purchased by two neighbors who planned to raze the Florida property and split the parcel to expand their respective dwellings. The nine-bedroom estate, which is nestled in the Trump security zone … Read more
National growth in home values continues to decelerate, with prices now falling in more than half of the 20 major metro areas tracked by a key index. The value of single-family homes in the U.S. as measured by repeat transactions rose 1.3% in September compared to a year earlier, according to data from the S&P Cotality … Read more
“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics. Last month, it was a house strapped to a skyward rocket, (with a poor real estate agent hanging on for dear life). This month, the house is blasting into the skies all on its own. … Read more
Winter storm season is upon us and with two big ones threatening Thanksgiving week, homeowners should be aware of what’s to come. For a 14th year, The Weather Channel has announced its winter storm names for the 2025-26 season. While the National Weather Service participates in naming tropical storms and hurricanes each year, TWC names … Read more