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 723 North Lincoln Lane. It’s unclear if Comras has an equity partner. New York-based Morgan Stanley has been trying to sell the buildings this year,[...]
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A groundbreaking ceremony was held this morning for Domus Brickell Center. “We are thrilled to break ground on Domus Brickell Center, capitalizing on the success of Domus Brickell Park and further bringing the FLATS vision to life in Miami,” said Ricardo Dunin, Founding Partner at developer North Development. Domus Brickell Center will include 579 fully-furnished residences allowing short-term rental flexibility. Unit sizes will range from 400 to over 1,000 square feet, with prices from the low $500,000s to around $1.5[...]
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In South Beach’s tranquil Palm View neighborhood, a once-stylish house gone shabby offers a case study in a complicated conflict facing many South Florida communities threatened by rising seas, tides and storm surge. It’s historic preservation vs. flood protection. Anthony Accetta — an attorney who inherited three connected properties in a historic district of Miami Beach where some homes date back nearly a century — has been embroiled in a battle over a 1930’s home with a colorful heritage that[...]
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Improvements to Miami Beach Lincoln Road’s 100, 200 and 300 blocks are nearer on the horizon as a private-public partnership has just concluded an agreement on how money will be spent and the long-term project will be executed with a pedestrian focus. Peter Kanavos, executive vice president of development for Flag Luxury, a partner of Sobe Sky Development, shared with Miami Today how plans to improve Lincoln Road’s 100, 200 and 300 blocks are progressing. “A couple years back,” said[...]
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One of Miami Beach’s last gas stations will be redeveloped into a mixed-use Class A office building, The Real Deal has learned. Arkadia Property Group, led by Richard Kilstock and David Aaron, closed on acquisition of the gas station and car wash at 1840 Alton Road last week, Aaron said. The Bal Harbour-based firm plans to develop a 40,000-square-foot office building with 2,500 square feet of food and beverage retail space on the 0.4-acre property. It’s in the Sunset Harbour[...]
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North Development, the partnership between Ricardo Dunin’s Oak Capital and Juan Carlos Tassara’s Edifica, scored $220 million in financing for their planned Domus Brickell Center project. The planned 35-story, 579-unit tower at 1034 Southwest Second Avenue will be their second Domus-branded short-term rental-friendly condo project in Miami’s Brickell neighborhood. The partners received $180 million in C-PACE financing from Coral Gables-based Bayview PACE, a C-PACE lender led by Anne Hill, according to a press release. They secured an additional $40 million[...]
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