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CLIENT NEWS: Swerdlow proposes replacing Miami public housing complexes with 5,000-plus apartments with affordable, workforce units

March 12, 2025

Developer Michael Swerdlow wants to develop 5,730 multifamily units with some affordable and workforce apartments, replacing five public housing complexes across Miami. Coconut Grove-based Swerdlow Group’s project also will include 370,000 square feet of commercial space such as offices and a school; 250,000 square feet of open space and amenities and a new Tri-Rail passenger train station, according to Miami-Dade records. The project would replace the existing public housing complexes of Victory Homes at 520 Northwest 75th Street, Newberg at[...]

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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[...]

CLIENT NEWS: Biscayne Boulevard’s New World Tower Could Get Rapid Transit Zoning

September 21, 2022

A developer who has been assembling several Biscayne Boulevard properties where a supertall tower is possible has requested Rapid Transit zoning designation, according to a county memo. The properties being requested for inclusion include the 30-story New World Tower on Biscayne Boulevard, and the adjacent Yve Hotel. The New World Tower dates to 1965, and was built by Jose Ferre, the father of Maurice Ferre. The Yve dates to 1926, but has been significantly altered. Both properties are said to[...]

CLIENT NEWS: Shore Club to become Auberge: Witkoff and Monroe’s redevelopment approval stands

September 15, 2022

Witkoff and Monroe’s plans to redevelop the Shore Club — and rebrand it as Auberge — are moving forward. The Miami Beach Historic Preservation Board on Tuesday voted against a rehearing of the redevelopment proposal that the board had approved four months ago. The developers’ attorney Michael Larkin revealed the Auberge branding at the meeting. The Setai Resort & Residences condo association had challenged the same board’s May 10 decision in favor of Witkoff and Monroe Capital’s plans for the oceanfront historic hotel at[...]

CLIENT NEWS: Ronny Finvarb and Joe Chetrit nab Miami Beach Macy’s for $16M

September 6, 2022

Ronny Finvarb and Joseph Chetrit paid $15.5 million for the Miami Beach Macy’s store off Lincoln Road, one of the oldest retail buildings in the city. Sobe Park, An entity managed by Finvarb, principal of Bay Harbor Islands-based Finvarb Group, acquired the 96,610-square-foot department store at 1675 Meridian Avenue, according to Marcus & Millichap’s Scott Sandelin and Alejandro D’Alba, the brokers who worked on the deal. Chetrit is Finvarb’s partner on the purchase, D’Alba and Sandelin said. The brokers represented[...]

CLIENT NEWS: Miami Beach voters approve upzoning referendums

August 31, 2022

Miami Beach residents voted in favor of zoning changes that could boost floor area ratio — or overall project size — of certain properties in the city. They also approved closing a loophole tied to the city’s vacation of public streets. Voters on Tuesday approved an increase in FAR to 2.6 from 2.0 for the Alton Road gateway area, which will allow Russell Galbut and David Martin of Terra to build a taller mixed-use project on the site of the[...]