CLIENT NEWS: MG, Baron score $18M loan to acquire Hialeah homes for apartment project

October 3, 2023

MG Developer and Baron Property Group snagged an $18 million loan to acquire a block of Hialeah single-family houses to be redeveloped into a multifamily project. New York-based RMWC provided the financing for the planned bulk purchase, according to a press release. Ayush Kapahi with HKS, and Jeffery Donnelly and Dmitry Levkov with Colliers arranged the loan. Coral Gables-based MG and New York-based Baron plan to acquire about 20 homes on East 26th Street between East Ninth and 10th avenues in Hialeah,[...]

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CLIENT NEWS: Mikael Hamaoui Scores Approval for 70-unit North Bay Village Condo Tower

October 3, 2023

North Bay Village has another luxury condo project in the works. The North Bay Village Planning & Zoning Board recently approved Miami-based Riviera Horizons’ proposal for a 26-story, 70-unit condo tower. The approval marks at least the seventh planned condominium underway for the long-overlooked island community. Riviera founder and CEO Mikael Hamaoui said all the new development will mark a change for North Bay Village, after many years as “a diamond in the rough.” Hamaoui declined to share pricing for units at the[...]

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CLIENT NEWS: Total Demolition Permit Filed For Fire Station At 1 Southside Park Megaproject In Brickell

October 2, 2023

A total demolition permit has been applied for at Brickell’s Fire Station No. 4 to make way for the 1 Southside Park megaproject. Earlier this year, city commissioners approved a plan for a temporary modular fire station in Southside Park, which was being constructed in early summer. The relocation would expedite construction of the project, including the delivery of the new fire station, a city resolution said. The demolition permit application was filed with Miami-Dade County on September 27. Permitting[...]

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CLIENT NEWS: Surfside approves Damac’s plan for collapse site

October 2, 2023

Damac Properties scored a key approval for its luxury condo project in Surfside, though it has to try to move a controversial garbage loading dock away from the planned collapse memorial. The Surfside Commission voted 3-2 in favor of the project on the Champlain Towers South collapse site, capping a contentious nearly six-hour meeting on Wednesday evening that included Mayor Shlomo Danzinger having two people escorted out and members of the commission repeatedly speaking over each other. At the center of[...]

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CLIENT NEWS: Estate planning? Jamie LeFrak secures lot split to build waterfront homes for his kids

September 28, 2023

Jamie LeFrak is like a lot of parents. The LeFrak Organization vice chairman wants to keep his kids close. LeFrak bought waterfront residential land in Miami Beach last year with the idea of building homes for each of his four children, he said at a city meeting this week. It’s unclear exactly when he would build the homes but he said he is not in a rush. His and his wife’s oldest child is 12 and, “He doesn’t need a[...]

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CLIENT NEWS: Last 1920s hotel on downtown Miami’s Biscayne Boulevard getting replaced by 104-story tower

September 27, 2023

For decades, the glass-and-aluminum facade of the YVE Hotel on Biscayne Boulevard in downtown Miami has concealed a historic secret. Beneath the mint-green panels that cover the exterior of the 16-story tower lies a significant relic of Miami’s 1920s real-estate boom. Once known far and wide as the Miami Colonial Hotel, it is, all outward appearances aside, the very last of a row of grand hotels of the era still standing on Biscayne Boulevard. It won’t be for much longer.[...]

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