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CLIENT NEWS: Public-private team speeds Lincoln Road east end renewal

September 26, 2025

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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CLIENT NEWS: Developers buy out majority of older Miami Beach condo building

September 8, 2025

Miami-based Terra and New York-based JDS Development Group teamed with real estate investors Rafi Gibly and Gianluca Vacchi to buy out a majority of the condos in the Bay Garden Manor Condominium in Miami Beach. According to a source with knowledge of the deal, the price was about $120 million, including the purchase of a neighboring hostel as part of the development agreement with the city. Northwind Group announced that it financed the deal for 1250 West Ave. with a[...]

CLIENT NEWS: Alirio Torrealba revs up MG Developer’s South Florida pipeline

September 4, 2025

When Alirio Torrealba got started in the real estate business in South Florida, he had neither experience in development nor proficiency in English. He somehow still led the wave of new townhome and condo development in Coral Gables, before expanding into multifamily. Just a decade after its founding, his Coral Gables-based MG Developer is sitting on a project pipeline of more than $500 million, which stretches into Hialeah, Miami, Doral and North Bay Village.Torrealba has veered into a faster lane[...]

CLIENT NEWS: Michael Stern, partners buy Miami Beach development site, Bikini Hostel property for $120M

September 4, 2025

Developer Michael Stern bought the development site for a planned waterfront condo tower in Miami Beach for roughly $120 million, The Real Deal has learned. Stern, who is working with developer David Martin on the project, completed the bulk purchase of Bay Garden Manor at 1250 West Avenue, according to sources. Martin took an interest in the deal in late July. Stern’s other partners include Gianluca Vacchi’s GV Development and RG Development. The price includes the bulk condo purchase and[...]

CLIENT NEWS: A new cancer hub is opening in Miami Beach soon. Here’s what patients can expect

September 3, 2025

Mount Sinai’s new Miami Beach cancer hub is nearly ready. You can see the five-story glass building as you drive into Miami Beach, nestled along the picturesque coast of Biscayne Bay. Hospital executives say the Braman Comprehensive Cancer Center was designed with wellness in mind, to provide care not just for the patient’s physical health but for their mental and emotional health, too. Mount Sinai Medical Center wants to “redefine cancer care in South Florida by combining world-class medical innovation[...]

CLIENT NEWS: David Martin joins Michael Stern and his partners on planned South Beach condo tower

September 2, 2025

Developer David Martin is now involved in Michael Stern’s planned luxury condo tower in Miami Beach, sources told The Real Deal. State records show that in late July, Martin’s name and Terra’s address were added to LLCs that are tied to the planned project. JDS Pulse, an anonymous blog that Stern sued in May, first disclosed Terra’s involvement. Martin’s Coconut Grove-based Terra does have an interest in the deal to develop the condo project at 1250 West Avenue, a spokesperson[...]