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CLIENT NEWS: MG Developer, partner score $148M loan for Hialeah apartments

September 26, 2022

MG Developer and Baron Property Group secured a $148 million construction loan for a nearly 600-unit planned apartment complex in Hialeah, as development ramps up in the city. Coral Gables-based MG Developer, led by CEO Alirio Torrealba, and New York-based Baron Property Group, led by Matthew Baron, expect to break ground on Metro Parc in December and complete the project in the second quarter of 2024. Post Road Group provided the 30-month loan for the development planned for 955 East[...]

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CLIENT NEWS: Construction Permit Created For Second 648-Foot Miami River Tower

August 25, 2022

Another tower at the Miami River complex is set to move to the permitting phase. Miami Building Department records show that a construction permit process was created for the second tower in May. It is not yet in review, with full plans still not submitted. The second tower will rise 54 stories or 648 feet, according to the construction permit filing. That is identical in height to the first tower now under construction. Tower 2 will include 468 residential units,[...]

CLIENT NEWS: Workforce Housing with Micro Units Proposed in Miami Beach

August 25, 2022

A lot on Normandy Isle in Miami Beach could be developed into workforce housing with micro units. The city’s Design Review Board on Sept. 6 will consider plans for the 25,771-square-foot site at 1960 Normandy Drive. Previously utilized by Atlantic Broadband, the site currently has a 4,377-square-foot industrial building that was constructed in 1971. Jakeal LLC, owned by Alan Waserstein of Miami Lakes-based LeaseFlorida, purchased the property for $2.2 million in 2019. Totaling 32,213 square feet in four stories, the project would[...]

CLIENT NEWS: Miami to Celebrate Completing First Two Phases of Flagler Street’s Curbless, Pedestrian-Friendly Rebuild

August 23, 2022

A ceremony is scheduled Friday to celebrate the completion of the first two sections of Downtown Miami’s Flagler Street rebuild. The city says it is now working on completing the remaining three phases. The project aims to make Flagler Street into a “festival-style boulevard,” with bollards that allow it to be completely closed to cars When cars are on the street, they will be placed at the same elevation as pedestrians – making it more pleasant to walk on. New[...]

CLIENT NEWS: Brazilian billionaire proposes oceanfront condos in Surfside

August 23, 2022

Multiplan Real Estate Asset Management is seeking approval of an oceanfront condo building in Surfside that would replace older buildings that are in “dire” condition. Multiplan, led by Brazilian billionaire José Isaac Peres, plans to build 93 Ocean, a 12-story, 27-unit project at 9309 and 9317 Collins Avenue, according to documents filed with the city. The town’s planning and zoning board will vote on site plan approval for the project at its Thursday meeting. R Palace Surfside LLC, managed by[...]

CLIENT NEWS: Garden-style French restaurant Le Jardin Boucherie coming to Miami Beach

August 23, 2022

New York-based hospitality firm The Group will open more of its traditional French and steakhouse restaurants in the region in early 2023. The Group founder Emil Stefkov will debut Le Jardin Boucherie in Miami Beach and later expand on their collection of Boucherie restaurants. "We took much into consideration and spent many hours searching for the perfect Miami location for our new garden concept to call home. This expansion plays a part in a larger idea to expand our beloved[...]