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
Macquarie Capital | Principal Finance and Vanderbilt Office Properties sold a multifamily development site approved for nearly 300 units in Boca Raton for $21.2 million. NADG, or North American Development Group, bought the 6.8-acre site at 1800 North Military Trail, according to records and real estate database Vizzda. The land shares the same lot as … Read more
Four years after scoring approval for a 354-unit luxury apartment tower in North Miami Beach, developer Celal Ozkan lost the site to the lender in bankruptcy court. An affiliate of CEO Contract, led by Ozkan, will turn over the nearly 1-acre site at 16300 Northeast 19th Avenue to Miami Beach-based Safe Harbor Equity, which had … Read more
Facing foreclosure on its development site in Boca Raton, Penn-Florida Companies sold the 1-acre lot previously planned for an assisted living facility for $27 million. Led by Mark Gensheimer, Penn-Florida sold the vacant property at 375 East Royal Palm Road to Boca Raton-based SobelCo, according to records and real estate database Vizzda. SobelCo, a real … Read more
A North Miami Beach development site approved for a 1,217-unit mixed-use megaproject hit the market for roughly $26 million, after a previous contract fell through and led to lawsuits, The Real Deal has learned. The nearly 3-acre site on the northeast corner of Northeast 163rd Street and Harriet Tubman Highway was home to North Miami … Read more