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CLIENT NEWS: RCLCO takes big hit offloading Miami Design District buildings

May 16, 2024

In a perplexing move, RCLCO Fund Advisors offloaded two retail buildings in Miami’s Design District, one of the nation’s top retail real estate submarkets, at a steep $17.9 million discount. In one deal, Bethesda, Maryland-based RCLCO sold a two-story, 23,645-square-foot building at 3800 Northeast Miami Court to an affiliate of Miami Beach-based Comras Company, records show. Comras is led by CEO Michael Comras. In the other deal, RCLCO sold a single-story, 9,906-square-foot building at 3946 North Miami Avenue to Kohler[...]

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CLIENT NEWS: Houston Developer Plans 12-story Apartment Building in Wynwood

May 17, 2023

An affiliate of Houston-based Bazbaz Development has proposed an apartment complex in Miami’s Wynwood Arts District. The city’s Wynwood Design Review Committee will consider plans for the 1.51-acre site at 2110, 2118 and 2134 N. Miami Ave. plus 2135, 2129 and 2101 N.W. Miami Court on May 9. The vacant property covers half of an entire block just west of the FEC Railway. Wynwood Interest LLC, managed by Jacobo, Simon, John and Rosa Bazbaz of Bazbaz Development, purchased the land for $12[...]

CLIENT NEWS: Construction Continues At 54-Story Miami River Tower

May 10, 2023

In Brickell, a 54-story luxury rental tower continues rising on the Miami River, a new photo by Phillip Pessar shows. The building is planned to top off at 648 feet. It will have 632 apartments, retail space, and a riverfront promenade open to the public. There are multiple other phases planned at the development, which is known as The River District. Eventually, developer Chetrit Group plans to build 4 million square feet of new development on the property. That includes about[...]

CLIENT NEWS: Dolce & Gabbana Planning Major Residential Project In Miami

May 10, 2023

Dolce & Gabbana announced plans recently for a “large-scale operation” in Miami’s real estate market. Miami will see a “major residential project,” Dolce & Gabbana said in a social media post. An exact project location was not revealed. The company is partnering with JDS Development Group, according to the announcement. JDS is building the massive 1 Southside Park in Brickell, designed by SHoP Architects, where construction is already underway. In addition, the company has been moving through the planning process[...]

CLIENT NEWS: BH scores approval for North Miami Beach apartment tower

May 3, 2023

BH Group can move forward with plans for a 400-unit apartment tower in North Miami Beach. The North Miami Beach City Commission on Thursday voted 5-0 to approve a site plan for the 32-story building that will also have 1,825 square feet of ground-floor commercial space and a 587-space parking garage, city records show. The city commission also granted 10 variances for the project that reduce portions of the proposed building’s setbacks and allow for a decorative covering on the[...]

CLIENT NEWS: Tower Cranes Rising Up To 891 Feet Approved At 1 Southside Park

March 20, 2023

The Federal Aviation Administration has approved a plan to install two temporary tower cranes to assist with construction at the 1 Southside Park megaproject. Approval was issued by the agency on March 15. According to a letter sent to the developer, two cranes are permitted to rise up to 891 feet and 834 feet. The permanent height of the tower is planned to be 62 stories – 754 feet above ground, or 766 feet above sea level. Foundation work is already[...]