Commercial real estate investor Robert Rivani paid $23 million for a waterfront Miami Beach mansion, The Real Deal has learned. Rivani, who leads his Miami-based firm Rivani, formerly called Black Lion, plans to spend millions of dollars to renovate the 9,200-square-foot mansion at 16 Palm Avenue, according to sources. Rivani lives in Miami’s Morningside and purchased the home as an investment. The seller is Tom Sullivan, the founder and CEO of Lawrenceburg, Tennessee-based Lumber Liquidators, records show. Sullivan inked the[...]
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Partner Melissa Tapanes Llahues will be a panelist on a webinar Monday, May 4 at 2 p.m. sponsored by FIU’s President’s Council, discussing the state of South Florida’s construction industry and the long term effect of the COVID-19 pandemic. For more information, contact 305.348.1622 or email prescoun@fiu.edu.
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Terra’s David Martin hopes to develop a 23-story tower at the Miami Beach Marina in the city’s South of Fifth neighborhood. Martin spoke before the city’s Finance and Economic Resiliency Committee on Friday, which met via video conference, kicking off a process that would require residents to eventually vote on ballot questions tied to extending and amending the city’s lease of the marina, selling air rights and possibly a request to increase the allowable floor area ratio. “Without community support, this[...]
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Dear Clients and Friends, We hope that you and your families are staying safe and healthy. Our firm’s transition to remote work has proven seamless. We are fully operational and working collaboratively with our clients, project teams, industry partners and local government officials to ensure that our matters, from acquisition due diligence, project design, and entitlements to permitting, inspections, and licensing, are moving forward. During these uncertain times, you may be concerned about the ability to proceed with your development[...]
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Retail giant Target has signed a letter of intent to open a store inside a planned mixed-use retail and residential development in Overtown called Block 55, according to the developer of the expansive project. The developer, in concert with the board of directors of the Southeast Overtown/Park West Community Redevelopment Agency (CRA), plans to construct the project at eight and 12 stories, on land at 249 NW Sixth St. The project was considered recently by the city’s Urban Development Review[...]
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A subsidiary of Lennar scored a $44.8 million construction loan for an apartment project on the former site of Wynwood Yard. The Miami-based company secured the loan from Santander Bank to construct the 11-story, 189-unit apartment building with nearly 17,000-square-feet of commercial space and 324 parking spots, records show. The project will be known as Wynwood Green. Lennar purchased the 1.26-acre property in January 2019 for $17 million. The property is at 48, 56, 64, 70, 82, 90 and 98 Northwest 29th[...]
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