Legendary singer Billy Joel is having a roller-coaster ride on the real estate market of late—finding success with the sale of one home, while another has just undergone a hefty $4.9 million price cut. The 76-year-old crooner has been trying to sell a large portion of his Long Island estate since early March, when it … 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
The condo association that governs the Ritz-Carlton, Fort Lauderdale condo-hotel filed for bankruptcy after losing a legal fight with two hospitality investment giants. The Castillo Grand Hotel Condominium Residences Association (CGHCRA), which governs the condo-hotel units at the property, filed for Chapter 11 restructuring in U.S. Bankruptcy Court in Fort Lauderdale on Tuesday, the South … Read more
Chetrit Group’s waterfront condo development site in Pompano Beach and its units at the Hollywood Beach Resort condo are headed to a Uniform Commercial Code foreclosure auction. The lender that provided a $17.2 million loan on both properties in 2022 filed for the UCC foreclosure, according to a public notice published in the South Florida … Read more
It’s no secret that foreign investors fuel South Florida’s condo market, but a new report shows how international buyers now dominate new development sales in submarkets with significant pipelines. Across 66 condo projects in the tri-county region, foreign buyers make up 52 percent of total sales, according to a report by the Miami Association of … Read more
A former manager for a Brickell condo tower was charged with allegedly diverting more than $142,000 from the association. Yissely Herrouet hired “phantom employees,” who in reality were her family members and acquaintances, and paid them with funds from The Club at Brickell Bay association, according to an arrest warrant filed by the Miami-Dade State … Read more
Ozzy Osbourne‘s stunning West Hollywood, CA, condo has hit the market for $2.375 million, less than four months after the rock ‘n’ roll legend died in his native England. The swanky high-rise unit, which is listed with Jonah Wilson, Josh Greer, and Rudy Serrato of Carolwood Estates, was purchased for $2.25 million in 2022 via … Read more
13th Floor and Key International are launching a Nobu-branded condo tower in Miami’s Brickell, the brand’s first residential project in the city. The announcement follows a controversial fight over the development site, which is on the longtime grounds of the historic First Miami Presbyterian Church at 609 Brickell Avenue. Brickell residents opposing the development lost … Read more
The Eichner family’s Continuum Company completed its bulk purchase of a waterfront condo building in North Miami where the firm plans a luxury condo tower. The New York and North Bay Village-based development firm, led by Ian Bruce Eichner, paid $48.5 million for the four-story, 46-unit condo building at 12000 North Bayshore Drive, a spokesperson … Read more
In the gold rush that is real estate development in West Palm Beach, nothing is more valuable than the dirt on waterfront Flagler Drive. But there is no vacant land left for sale. Aging condos inhabit the remaining development sites, their boards controlled by unit owners with differing opinions on the fate of their tropical … Read more