Michael Comras is planning a major renovation of a Lincoln Road portfolio his namesake firm acquired for $140 million. Comras declined to confirm the purchase price, which was provided to The Real Deal by a source familiar with the transaction. Miami Beach-based Comras Company bought 11 storefronts at 600, 719–737, 741, 801–821 Lincoln Road and … Read more
Even billionaires can have trouble finding parking—especially if it involves a megayacht. Billionaire Ken Griffin could not find a place to park Viva, his 308-foot boat behemoth, near his estimated $170 million 6.5-acre compound on Star Island, so he’s going to build a megamarina across the bay. The exact parking spot will be at 120 … Read more
Raoul Thomas’ financially floundering CGI Merchant Group sold its Nexus co-working portfolio for $31 million. Over the past two years, Miami-based CGI Merchant has faced debt woes on its properties and parted with most of its portfolio through either foreclosures or sales. Its troubles came amid elevated interest rates that have increased payments for floating-rate … Read more
A last-minute blockbuster trade is sending cornerback Sauce Gardner from the New York Jets to the Indianapolis Colts. In a stunning move, the Colts traded two first-round picks and wide receiver Adonai Mitchell to the Jets for Gardner. Gardner, 25, a two-time, first-team All-Pro, just signed a four-year $120.4 million contract extension in the offseason. … Read more
Once the poster child for the plant-based revolution, Beyond Meat has seen its stocks collapse in recent days—falling from a peak of nearly $240 per share to less than $1 in a devastating decline. According to the Los Angeles Times, that plummet means that shareholders who bought into the El Segundo, CA-based company at the … Read more
Television legend Dr. Phil‘s attempt to file for Chapter 11 bankruptcy for his media startup, Merit Street Media, has been denied by a judge, who has ordered that he liquidate the fledgling company. The 75-year-old, whose full name is Phillip Calvin McGraw, filed for Chapter 11 for Merit Street in July, a move that would … Read more
Michael Comras’ company is under contract for a retail property portfolio on Miami Beach’s Lincoln Road. Miami Beach-based Comras Company is buying several properties from Morgan Stanley Real Estate Investing and Stephen Bittel’s Terranova, with the price pegged at about $140 million, Commercial Observer reported. The properties include 600, 719–737, 741, 801–821 Lincoln Road and … Read more