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: Developer to terminate, redevelop Surfside condominium

August 23, 2022

Veteran broker/developer Vivian Dimond and Multiplan, led by Brazilian billionaire Jose Isaac Peres, are working on plans to terminate and redevelop an oceanfront condominium in Surfside. On Monday, R Palace Surfside LLC, managed by Dimond, sent a letter to town officials to start the site plan process for the 37,456-square-foot property at 9317 Collins Ave. It currently has the 34-unit Regent Palace Condominium. The condo was built in 1951 and is currently vacant after unsafe conditions were found there, according[...]

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CLIENT NEWS: Wave-Shaped 54-Story Miami River Tower Now Rising Out Of The Ground

August 23, 2022

The first 54-story Miami River tower is rising out of the ground, and its wavy architecture can now be seen for the first time, new photos by Ryan RC Rea show. The Miami River phase 1 tower itself is planned to top off with a permanent height of 640 feet above ground, making it the only tower to surpass the 600-foot mark this far west in Miami. The first phase of Miami River will have 632 apartments, retail space, and a[...]

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CLIENT NEWS: Plans Filed With FAA For Construction Cranes At Former Miami Arena Site, Nearly 800 Feet High

August 17, 2022

An application has been submitted to the Federal Aviation Administration requesting permission to install two tower construction cranes at the former Miami Arena site being developed by Witkoff Group. According to two applications filed August 4, the cranes will rise 779 feet above ground. One will reach 793 feet above sea level, while the other will reach 794 feet above sea level. The permanent building heights on the property will range from 673 feet to 700 feet above sea level,[...]

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CLIENT NEWS: BH Group Plans 30-story Project After Buying North Miami Beach Site

August 17, 2022

BH Group is designing a 30-story residential building after acquiring property in North Miami Beach. CK Prive Group 164 LLC, managed by Bruno Bloch in North Miami Beach, sold the 1.96-acre site at 2261 N.E. 164th St. for $11 million to Aventura-based BH Group. The site currently has a 35,538-square-foot warehouse constructed in 1969. The property last traded for $8.3 million in 2016, so it gained in value. The site is located just north of the intersection of Biscayne Boulevard and[...]

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CLIENT NEWS: With pricey rents in Miami Beach, developer plans cheaper apartments for local workers

August 15, 2022

A new workforce housing project could help relieve some local residents from sky-high rents in Miami Beach, one of Miami-Dade County’s most expensive residential markets. A boutique rental building with 60 apartments proposed for Normandy Isles neighborhood could give essential workers — think teachers, nurses, police officers and firefighters — more living options in line with their incomes. Alan Waserstein, owner of Miami Lakes investment and development firm LeaseFlorida, plans to build a four-story development called Mia, containing the 400-square-foot[...]

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