Florida property management revealed that the value of homes in Broward and Palm Beach has appreciated. This is due to a shortage of listings and a more stable economy. The average price for an existing single family home in Broward County last June is$325,000. This is 7% higher compared to last year. For Palm Beach County, the median price is $320,000. Approximately 6% higher from June 2015. In...
A personal financial website called WalletHub, ranked the most promising American cities for new home owners. The analysis included 19 factors which includes housing affordability, real estate taxes and crime rates. A total of eleven cities in Palm Beach and Broward counties were included in the list of 300.The lowest ranked cities includes Miami Beach (ranked 299) and Miami (ranked 294). Florida Property...
Last 2012, when the Florida housing market was just starting to recover, Grand Birch LLC acquired nearly an acre of property located at North Birch Road in Fort Lauderdale for only $2.45 million. The initial plan was to construct Privage, an 11 story condominium with a nice view of the ocean and the Intracoastal Waterway. After four years, the project is on the brink of breaking ground. The project has a...
SunTrust Banks Inc.’s SunTrust Center was acquired by Steelbridge Capital for $86.5 million. The 270,000 square foot office complex is located at 501 and 515 E. Las Olas Blvd. in downtown Fort Lauderdale. The complex has a 17 story office tower as well as a 3 story annex. Florida property management mentioned that although SunTrust Center is 77% occupied, Steelbridge Capital intends to renovate the...
According to Miami Property Management, Fortune International Group and Château Group has broken ground on a new project at Collins Avenue. The ground breaking of the 52-story Ritz-Carlton residential tower was attended by Sunny Isles Beach Mayor George Scholl, Commissioner Jennifer Levin, Commissioner Dana Goldman, Commissioner Sergio Grosskopf of Château Group and lastly by Jeff Gouveia, the president...
Florida property management reported that 1 Hotel South Beach is being marketed for sale. 1 Hotel is a LEED-certified hotel and development which opened last year at 2341 Collins Avenue. The hotel was part of a joint venture between Sternlicht’s Starwood Capital Group and LeFrak. The 426 keys hotel includes 3 Tom Colicchio-branded restaurants, four outdoor swimming pools, a gym and a spa. There are...
South Florida home prices continue to appreciate in both Broward and Miami-Dade counties. In Miami- Dade, the average sales price for existing single-family homes for this April is $285,000. It is 9.5% more expensive compared to April 2015. The average price for single-family homes for April 2015 was $260,000. Miami property management stated that although there is an increase of new condo units on...
Taxable properties in Palm Beach has increased for five successive years. This level of increase had not been seen since the pinnacle of the housing boom. The tax increase indicates that the market value of homes have increased. Higher taxes could also mean that the government will have a better budget. For 2016, Florida property management announced that the Palm Beach’s tax increased by 7.9%...
South Florida local restaurant Tap 42, just sealed the S4.5 million EB-5 loan last week. Tapco Restaurant Group, which owns Tap 43 Craft Beer Bar & Kitchen has stores in Boca Raton, Fort Lauderdale and will open Coral Gables gastropub at 301 Giralda Avenue. Roger Bernstein, the co-founder of a South Florida based regional EB-5 center called American Life Investments is responsible for financing...
The 2-acre Rader Memorial United Methodist Church at 205 NE 87th St. was purchased by Group 10 Capital Management last February for $3.2 million. Developers Seth Gadinsky and Sam Soriero intend to convert the former Methodist church and elementary school to an affordable mixed use building. They guarantee that the rent will still be affordable and be able to suit the needs of all kinds of tenants from...
