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CLIENT NEWS: Comras buys Lincoln Road retail portfolio for $140M, plans redevelopment

November 20, 2025

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 723 North Lincoln Lane, a press release states. The firm financed the purchase with a $117 million loan from San Francisco-based Acore Capital. The seller,[...]

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CLIENT NEWS: Butters seeks to build business park on 25-acre residential site

November 20, 2025

Butters Construction & Development has a Hialeah Gardens property that was platted for homes under contract, as it seeks approval for a business park. The City Council will consider the small-scale land use plan for the 24.88-acre property at the northeast corner of West Okeechobee Road and Northwest 92nd Avenue on the evening of Nov. 18. Coconut Creek-based Butters has the vacant land under contract from Hialeah-based F68 4 & F69 2 LLC, managed by Lowell S. Dunn II. The[...]

CLIENT NEWS: Lincoln Road landlords and brokers stage a comeback

November 18, 2025

Scott Sherman still remembers when landlords could get top dollar asking rents for retail and restaurant spaces on Lincoln Road, the outdoor pedestrian mall in Miami Beach. “Eight years ago, rents got ridiculous,” Sherman, who leads Miami-based Torose Equities, told The Real Deal. “They went from $150 to $300-plus a foot. Restaurants fled, national brands downsized and the street lost its energy.” Sherman, who was among the landlords steering the Lincoln Road Business Improvement District in the 2010s, returned to[...]

CLIENT NEWS: Splish, splash! Jeffrey Soffer’s Fontainebleau Miami Beach water park plan faces historic preservation vote

November 18, 2025

Billionaire Jeffrey Soffer’s plan for a water park at his Fontainebleau Miami Beach resort could splash into approval — or denial — by a key city board next week. The Miami Beach Historic Preservation Board is set to vote on Tuesday on the planned redevelopment of the 1,504-room oceanfront hotel’s outdoor pool area. The waterpark would be open to the public for yet undetermined fees. The property is at 4441 Collins Avenue. An affiliate of Soffer’s Aventura-based Fontainebleau Development is[...]

CLIENT NEWS: Miami-Dade to consider no-bid deals for Swerdlow, Pinnacle to redevelop public housing complexes

November 18, 2025

Swerdlow Group and Pinnacle propose separate projects to redevelop six public housing complexes in Miami-Dade County with more than 1,000 below-market rate apartments and for-sale homes. The pair are the latest to file plans to Miami-Dade through the federal Rental Assistance Demonstration program, which allows municipalities and counties to redevelop and modernize aging public housing. The Miami-Dade housing committee will vote on Wednesday whether to proceed with working with Swerdlow and Pinnacle, including negotiating leases with the developers for the[...]

CLIENT NEWS: Cornerstone, Brookstone propose 354-unit multifamily project in Little Havana

November 18, 2025

The Cornerstone Group and Brookstone Partners propose a 354-unit multifamily tower in Miami’s Little Havana neighborhood, amid an apartment building frenzy in South Florida. Cornerstone and Brookstone, both based in Hollywood, want to develop an eight-story building with a 5,000-square-foot grocery store on a 2.4-acre site on the northwest corner of Northwest Eighth Avenue and West Flagler Street, according to an application attached to a Miami board’s agenda. The assemblage is at 826, 834, 842, 852 and 860 Northwest First[...]