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CLIENT NEWS: $175 million boost coming to resurgent Overtown, Miami’s original Black neighborhood

October 21, 2025

Just a few short years ago, the historic heart of Overtown, Miami’s original Black neighborhood, lay desolate and lifeless just steps from Biscayne Boulevard and downtown. There were few if any shops, few homes, not a single grocery store, but lots of vacant lots, the result of decades of demolition, disinvestment and abandonment. Today, the change along the six blocks of Northwest Second Avenue and its immediate vicinity is nothing short of dramatic. The streets are busy with pedestrians, thanks[...]

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CLIENT NEWS: Ultra-exclusive country club in Miami Beach plans new clubhouse

September 10, 2025

The La Gorce Country Club has submitted an application to the Miami Beach Design Review Board to construct a new 74,000-square-foot clubhouse at its property at 5685 Alton Road. The proposal, which would replace an existing 45,000-square-foot clubhouse, is scheduled to be heard by the board on Sept. 11. According to a letter of intent filed on behalf of the club by attorney Michael Larkin of the Miami-based law firm Bercow Radell Fernandez Larkin & Tapanes, the La Gorce requests[...]

CLIENT NEWS: Developer seeks rezoning to build hotel on Calle Ocho

September 8, 2025

The owner of a property in Miami’s Little Havana wants to rezone the site to build a hotel on popular Calle Ocho. The city’s Planning, Zoning and Appeals Board voted 6-1 in favor of the rezoning on Sept. 3 and it will need City Council approval at a later date. The application was filed by 1630 Southwest 8 Street LLC, owned by Gediminas Bulota in Miami Beach, concerning the 15,763-square-foot site at 710 S.W. 16th Ave. It wants to rezone[...]

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[...]