A new report from Realtor.com, an online real estate service provider, ranks South Florida fifth for unaffordable housing in the nation. It’s just below New York, Los Angeles, San Diego and San Francisco, which tops the list.
One of the most expensive property sales in South Florida history is in the works on South Beach. Six properties -- currently held by the Terranova Corporation and Acadia Realty Trust -- along Lincoln Road are expected to sell for $342 million.
The properties' current occupants are Starbucks, Armani Jeans, Fossil and the Khong River House restaurant.
UPDATE 6/2/2014: The City of Pembrook Pines has won their bid for the empty prison. Mayor Frank Ortis says the City wanted to control what happened with the land which is not far from houses that fall within city limits.
A 66-acre plot of land off Sheridan Street has excellent security features, and it will soon be on the market. The Broward County Correctional Institution, a former women’s prison, is being sold off by the state.
Click the play button above and listen to this segment from WLRN's hour-long episode, "The Sunshine Economy: Brazil & South Florida," with host Tom Hudson. The episode is part of an ongoing series examining key industries of the South Florida economy. Shows air Mondays at 9:00 a.m. on 91.3 FM.
The years 2009 and 2010 were dark days for Miami real estate. Home prices plummeted. Mortgages imploded. Foreclosures soared.
And buyers flooded in from Brazil.
Since that time, Brazilians have become the top foreign buyers of homes and especially condominiums in South Florida. As recently as June, the largest number of foreign-based online visitors to the Miami Association of Realtors website came from Brazil. In 2011 and 2012, most international buyers of residential real estate in the Miami area came from Brazil.
On July 15, 1997 Gianni Versace left for the morning paper at just before 9 a.m. Nearly everyone in Miami and a great deal of people across the world know the story.
The mentally unhinged Andrew Cunanan then tragically shot Versace to death on the doorsteps of his world famous mansion. Cunanan, who had already killed four other people, set off a manhunt and houseboat siege that captivated the morbid attention of the world.
Thus the unknown fate of those world famous doorsteps and the building behind it was set in motion.
Originally published on Mon October 28, 2013 10:12 am
New homes are back in a big way — literally. This summer, a typical new house in Phoenix was more than 20 percent larger than a resale home as builders across the country added more space to accommodate post-recession lifestyles.
Take Jacque Ruggles' family, for example. Four women from three generations live under one roof.
Originally published on Tue October 8, 2013 9:51 am
The General Motors Building in Manhattan is a majestic 50-story, white marble structure that takes up one full city block. This is prime New York City real estate. A flagship Apple store sits on the ground floor, across the street is the Plaza Hotel, and on another corner is an entrance to Central Park.
The GM building is considered one of the most valuable office towers in the U.S. In May, a large piece of it was purchased by a Chinese real estate developer.
In the last year, over $57 million in illegal assets relating to federal cases in South Florida have been seized by the United States government, according to data provided by the U.S. Attorney’s office in South Florida.
The former Versace mansion fetched a top bid of $41.5 million from a group that included New York’s Nakash family, which controls Jordache Enterprises, at a court-ordered bankruptcy auction Tuesday.
After the auction, Joe Nakash, the winning bidder and owner of the Victory Hotel next door, said he plans to ask for the right to use the Versace name and operate the mansion as a hotel in conjunction with the Victor.
Lamar P. Fisher of Fisher Auction Co. conducted the auction Tuesday morning inside the ornate 10-bedroom, 11-bath mansion.
Homeowners covered by Citizens Property Insurance Corp. will see an average rate increase of 6.3 percent next year.
The increase, approved Monday by the Office of Insurance Regulation, is down from a 7.9 percent hike requested on the combined personal-lines and coastal accounts. Citizens officials previously said a 7.9 percent increase wouldn't be enough to cover the projected costs for next year.