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downtown: Downtown Miami Land Trades For $39 Million - 09/23/09 10:54 AM
A Boca Raton company has paid $39 million for nearly 300,000 square feet of vacant land situated on nine parcels in Downtown Miami, according to a new report from the Condo Vultures® Bulk Deals Database.The newly created PWV Group 1 Holdings LLC, with Gary N. Gerson as registered agent, paid $130 per square foot on Sept. 21 for 27 lots located a block west of four new highrise condo towers on Downtown Miami's Biscayne Boulevard, according to CondoVultures.com research.The seller, six corporations controlled by AI Holdings (USA) Corp with Tamir Kazaz as chief financial officer, paid a combined $32.3 million, or … (0 comments)
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downtown: 4th Bulk Condo Deal Closes In Downtown Miami - 07/07/09 11:49 AM
A Miami Beach company headed by Jorge Mattos has purchased 21 units in the Marina Blue condominium tower in Downtown Miami for $5.69 million in an all-cash deal involving the project's former mezzanine lender, according to a new report from Condo Vultures® LLC.A newly formed Florida corporation called 21 Marina Blue LLC with Mattos as the manager purchased 13 two bedroom units, seven one-bedroom units, and a three-bedroom penthouse for a blended price of $196 per square foot on a deal that was recorded on June 23, according to Condo Vultures® research.Mattos is a business partner of Carlos Mattos who purchased … (0 comments)
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downtown: Downtown Miami Condo Closings Slow By Half In 2nd Quarter - 07/01/09 07:48 AM
The pace of new condo closings in Greater Downtown Miami slowed by half in the second quarter of 2009 to 2.7 sales per day, down from an average of 5.2 per deals day in the first quarter of the year, according to a new report from Condo Vultures® LLC.Buyers purchased 246 units in the 60-block stretch of Greater Downtown Miami between April and June. In the two previous quarters, buyers closed on 466 new Downtown Miami units between January and March, and 441 units between October and December, respectively, according to the Condo Vultures® report based on the Official Condo Buyers … (0 comments)
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downtown: ICON Brickell's $679 Million Construction Loans Set To Mature - 03/18/09 09:15 AM
The Related Group is faced with $678.5 million of construction loans coming due on the massive three-tower ICON Brickell condo and condo-hotel project within the next eight months, according to the South Florida Business Journal.A $502 million construction loan on two of the three towers in the ICON Brickell complex is scheduled to come due on June 18. Under the terms of the loan with HSBC Realty Credit Corp, the developer of the 1,820-unit complex can seek a six-month extension that would end on Dec. 18, according to the article.A $176.5 million on a third tower in the complex is scheduled … (0 comments)
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downtown: Miami's Condo Crash Subject Of New eBook - 03/12/09 08:08 AM
Miami's great condominium crash of the 21st Century is the subject of a new 350-plus page eBook scheduled for release in April by Condo Vultures® LLC.The soon-to-be-published eBook provides a running chronicle - in words and photos - of Greater Miami's condominium boom and bust since 2006. This eBook is a compilation of more than 100 chapters written by a variety of South Florida industry professionals including:- Peter Zalewski, a consultant, real estate broker, and former South Florida financial journalist;- Mark Zilbert, a Miami Beach broker and creator of CondoFlip.com;- Jim Freer, a veteran South Florida banking journalist;- John Fakler, a … (0 comments)
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downtown: Downtown Miami Condo Tower Site Being Foreclosed - 02/18/09 09:54 AM
The site of the proposed 68-story Paramount Park condominium tower in Downtown Miami is being foreclosed by a Kansas lender that is owed $21.2 million, according to Miami-Dade County Clerk of the Court records.Hillcrest Bank in Overland Park, Kan., has filed a Lis Pendens action - the first step in the long foreclosure process - against the owner of the 72,450-square-foot lot at 700 Biscayne Boulevard, immediately east of the AmericanAirlines Arena in Downtown Miami.Royal Palm 700 Biscayne LLC obtained permission in 2006 to build a mixed-use project standing 756 feet tall and featuring 300 condominium units and 286 hotel rooms. … (0 comments)
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