CLIENT NEWS: Robert Rivani’s Black Lion pays $63M for Miami Beach mixed-use building

April 23, 2024

Robert Rivani’s Black Lion hunted down its biggest purchase in South Florida to date, but will have to compete with other heavy hitter developers in Miami Beach’s office market. The Miami-based commercial real estate investment firm paid $62.5 million for a Miami Beach mixed-use building, The Real Deal has learned. Black Lion is paying at a 42 percent discount off the previous sale price seven years ago. Black Lion acquired the ground lease for The Lincoln, a six-story building with[...]

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CLIENT NEWS: Preservation board approves NY developers’ South Beach office project

June 22, 2022

Developers Sumaida + Khurana and Bizzi & Partners can move forward with their Miami Beach office project after receiving the green light from the city’s historic preservation board. The joint venture between the two New York-based firms is planning a five-story office building with 3,125 square feet of ground-floor retail on two vacant lots at 944 Fifth Street and 411 Michigan Avenue. The building, designed by Spanish architect Alberto Campo Baeza, will also feature mechanical parking lifts. On Tuesday, the[...]

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CLIENT NEWS: Photos: Artistic Murals Installed at 189-Unit Apartment Project on Former Wynwood Yard Site

June 22, 2022

The apartment complex that replaced Wynwood Yard has had artistic murals installed. The project is known as Wynwood Green, and topped off at 11-stories. According to a 2019 utilities agreement, it will include: 189 apartments 6,043 square feet of retail 9,829 square feet of full service restaurant The parking garage will have 324 spaces. An affiliate of Lennar is the developer. Dorsky + Yue is the architect. Published on June 15, 2022 on TheNextMiami.com

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CLIENT NEWS: Foundation, Basement Nearly Complete At 64-Story 1 Southside Park, Vertical Construction Soon

June 22, 2022

The developer of Brickell’s massive 1 Southside Park has announced that the project will soon begin vertical construction. JDS Development Group said in a press release that it had secured an acquisition and construction bridge loan of $86 million, allowing the development to move forward. The project is now finishing up foundation work, “with deep soil mixing operations and the two-level basement complete,” the release said. “We look forward to going vertical in the near future,” said Michael Stern, Founder[...]

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CLIENT NEWS: Developer Secures $86M to Build 64-story Tower in Brickell

June 16, 2022

JDS Development Group has obtained an $86 million construction loan to help it start work on a 64-story mixed-use tower in Miami’s Brickell Financial District. Maxim Capital Group provided the mortgage to 191 SW 12 Owner LLC, an affiliate of New York-based JDS Development, by assuming a $43 million land acquisition loan and doubling it to $86 million, while carrying a lower interest rate. The “bridge construction loan” will support the initial work on the project, which is currently undergoing[...]

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CLIENT NEWS: Office-retail-parking offer in Miami Beach advances

June 13, 2022

An unsolicited proposal to redevelop a parking lot at 13th Street and Collins Avenue into mixed-used office, retail and parking garage is one step closer to reality after a favorable recom­mendation from the Miami Beach finance committee, and now comes with two levels of office space and a possible contribution from the developer to the city. Real estate developers Location Ventures proposed via unsolicited bid to transform the parking lot, at no cost to the city, into a $19.2 million[...]

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