Moving to Miami? You’re not alone. Locals stand by with mouths agape at the influx of out-of-towners making Miami home, engaging in wild behavior like wearing tank tops in January (it’s below 70!!) and saying “good morning”, to strangers, in the street. While Miamians may not appear to be the most welcoming bunch, we are proud of our city and grateful that it is finally earning its place on the proverbial map. Read more
It’s official! After 6 prosperous years in Real Estate sales with YOU Realty, Stephen has taken the leap and launched his own brokerage firm. A business owner for more than 20 years, Stephen has plenty of experience founding and running several successful web design companies. Adding a real estate firm to his repertoire was the natural next step.
Stephen is passionate and serious about his profession. As a realtor, he is reliable, consistent, transparent and friendly. Stephen offers first class service to each and every one of his clients, no matter how big or how small the budget. When you call, you know that Steve will pick up the phone.
You might be asking yourself, why now? In the midst of a rollercoaster year, Stephen recognized that clients needed his impeccable service now more than ever. With South Florida quickly becoming a go-to relocation spot, he knew he could offer more with his own firm. With his clients in mind, Stephen officially launched Heck Realty Group LLC in December 2020.
Whether you are looking to rent a one-bedroom apartment in Brickell or buy a single-family home in Miami Shores, Stephen will guide you with ease through every step of the moving process.
“Enough!” Mayor Dan Gelber proposed on Wednesday, July 22 that the seemingly out-of-control party tourism that has been plaguing residents for years is coming to a halt. How? By instilling (and in some cases making permanent) rules and regulations that will limit the sale of alcohol after midnight, enforce noise ordinances and reinstate the open-container law. These proposals, however, are short term and beg the question – Where does South Beach go from here? Read more
Thor Equities is beginning construction on its planned retail and restaurant development Wynwood Walk, after securing construction financing, The Real Deal has learned.
New York-based Thor won approval from the Wynwood Design Review Committee in May for the project at 2800 Northwest Second Avenue, to be built on 2.3 acres the firm owns in the artsy neighborhood. Read more
A company tied to New York-based Knickpoint Ventures just secured $13.75 million in financing for a Class A self-storage facility in Miami’s Upper East Side, property records show.
Florida Community Bank provided the loan to Bel Air Crest LLC. Records show the entity paid $840,000 for the 29,000-square-foot lot at 7865 Northeast 10th Avenue in 2003.
Knickpoint was founded this year by Zain Koita, a former development executive with Related Companies and Matt Sprayregen, formerly with BBH Capital Partners, a private equity fund based in New York. Read more
There’s a food hall commotion stirring up around the nation, and developers in Miami are joining the movement.
More food halls are opening nationwide as consumers demand more artisan and healthier food options in lively environments, according to the New York Times.
The brokerage firm Cushman & Wakefield conducted a research study showing that the growth of food halls has increased by 700 percent since 2010. Pamela Flora, director of research for Cushman & Wakefield, told the Times she expects the number of food halls to exceed 200 by 2019, which is about double the number of open food halls in 2016.
Already a number of food halls are planned to pop up around Miami. Those in the works include Brickell City Centre’s three-story Italian food hall, La Centrale, a 40,000-square-foot food hall, located at the northeast end of the shops. The retail component, developed with Swire Properties, Simon Property Group and Whitman Family Development, is part of the $1.05 billion, mixed-use development that also includes residential, hotel and office components. La Centrale is set to open in December. Read more
Terra Group and its partners just took out $63.8 million in construction financing for Eighty Seven Park, boosting their mortgage to $155 million.
Property records show Singapore’s United Overseas Bank Limited is providing the financing to 8701 Collins Development LLC. It adds to the previous $91.2 million the developer secured with the Asian bank.
Eighty Seven Park, designed by Renzo Piano, is being developed by Terra in partnership with Bizzi & Partners Development, Great Eagle Holdings and Vector Group subsidiary New Valley. The developers plan to begin vertical construction soon, but did not provide a date. It was set to go vertical more than a year ago as the condo market slowdown was settling in. Read more
The Department of Housing and Urban Development announced Tuesday that it plans to make changes, including raising premiums, to the reverse-mortgage program for senior citizens. The Trump administration believes the program, which allows lenders to take out a mortgage against the value of their home, needs better financial footing, according to The Wall Street Journal.
HUD plans to raise the upfront payment of the loan program from 0.5 percent to 2.0 percent, and will lower the annual payment from 1.25 percent to 0.5 percent. Changes will only be imposed on new borrowers, while existing reverse-mortgage borrowers will be able to keep existing rates. Read more
Key International and 13th Floor Investments just completed 1010 Brickell, a 50-story condo tower.
The 389-unit is 99 percent sold with three units remaining and a sellout of more than $262 million, a spokesperson said. 1010 Brickell will begin recording closings in September. Sales launched in 2013, Inigo Ardid, co-president of Key International, said in a press release. Read more
Renderings of Arte by Antonio Citterio and Alex Sapir
Alex Sapir’s ASRR Capital is in advanced talks to buy out its partner in a Surfside condominium project, according to documents filed on the Tel Aviv Stock Exchange.
Sapir will pay $6.1 million for Eyal Ben-Yosef’s 12.5 percent stake in the project, called Arte by Antonio Citterio, marking the latest move in an eventful year for ASRR. Read more