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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: Krispy Kreme sells Miami Gardens store — sans doughnuts — for $9M

March 29, 2021

Doughnut shop Krispy Kreme sold its store just outside Miami Gardens for $9 million. A deed shows the Winston-Salem, North Carolina-based chain and Florida Family Realty sold the 4,345-square-foot, one-story building at 530 Northeast 167th Street to New York-based Bremen House. The building was constructed in 2019 on 1.8 acres, according to property records. It includes a drive-through. The doughnuts and coffee chain, founded in 1937 by Vernon Rudolph, is an American staple that has expanded to 1,005 locations, according[...]

CLIENT NEWS: Miami Beach developers nab $345M construction loan for 500 Alton

March 26, 2021

Miami Beach developers Russell Galbut and David Martin scored a $345 construction loan for their planned residential tower at the entrance to South Beach, marking one of the largest loans to close in South Florida during the pandemic, The Real Deal has learned. Galbut’s GFO Investments and Martin’s Terra are partnering on the project at 500 Alton Road, formerly home to the South Shore Hospital site. The 519-foot tower, which would be the largest in Miami Beach when it’s completed in 2023, is now[...]

CLIENT NEWS: Chetrit scores $15M for Miami River $1B mixed-use project

March 25, 2021

The Chetrit Group is pushing forward with its long-planned mixed-use Miami River mega-project, as it just scored a $15 million construction loan, bringing its total financing to $70 million. Chetrit Group, through affiliate MC Miami River, secured the loan from MSD PCOF Partners XXXIV, an affiliate of MSD Partners, a mortgage record shows. The loans adds to New York-based Chetrit Group’s financing for the project, after it secured a $55 million pre-development loan two years ago from New York-based real estate investor[...]

CLIENT NEWS: Developers seek to expand Miami-Dade development boundary by 792 acres

March 12, 2021

Several developers want to expand Miami-Dade County’s urban development boundary by 792.2 acres to create thousands of jobs at a new business park on the southern end of the county. Moving the UDB is a big ask, as it requires a two-thirds vote of the County Commission and often draws opposition from activists concerned about over development. However, the application for the South Dade Logistics and Technology District states that it would provide much-needed employment opportunities in south Miami-Dade, where[...]

CLIENT NEWS: Treehouse Hotel, cousin to 1 Hotel, to make U.S. debut in Brickell in 2025

March 10, 2021

Treehouse Hotel plans to make its U.S. debut in Miami in 2025. The nature-inspired hotel brand owned by Miami-based Starwood Capital Group’s SH Hotels & Resorts is coming to Brickell’s 1 Southside Park development. The project will be 62 stories tall and have 191 rooms, the company said. SH Hotels & Resorts also owns the 1 Hotel South Beach brand. The only other Treehouse hotel opened in London in 2019. Construction on the Brickell hotel at the 1105-1133 SW Second[...]