South Florida’s office market experienced an uptick in investment sales over the past year, marking a comeback after a slowdown. Yet, distress and discounted deals are lingering, as elevated interest rates and other economic headwinds remain. Deal volume reached nearly $2.2 billion in the tri-county region in the 12-month period that ended Sept. 30, marking … Read more
Pending home sales remained flat in September despite a healthy decline in mortgage rates, in an early sign of continued weakness for the fall home buying season. Signed contracts for existing homes were unchanged last month from August, and down 0.9% from a year ago, according to data released Wednesday by the National Association of … Read more
Witkoff Group, and Alex Blavatnik and Sandor Scher’s Ocean Terrace Holdings launched sales of their planned North Beach condo and hotel development with more than $200 million in presales. Witkoff, led by CEO Alex Witkoff, joined the Ocean Terrace project earlier this year, reviving the long-planned mixed-use development. The project, designed by Revuelta Architecture International … Read more
South Florida’s residential market rallied in September, in a reversal of the region’s monthslong slowdown. Dollar volume in Miami-Dade, Broward and Palm Beach counties surged 13 percent to $4.3 billion, up from $3.8 billion last September, according to Multiple Listing Service data collected by the Miami Association of Realtors. While sales were up, condo prices … Read more