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Investment firm bids $102M for 20 acres in Miami’s UES

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Investment firm bids $102M for 20 acres in Miami’s UES

B Group Capital Management submitted a $102 million stalking horse bid for nearly 20 acres in Miami’s Upper Eastside and El Portal that are tied to a lawsuit alleging *EB-5 fraud.

The Miami-based real estate investment firm seeks to acquire the former U.S. immigration building site spanning 3.5 acres at 7880 Biscayne Boulevard, and a 15.9-acre former trailer park at 8500 Biscayne Boulevard.

Both properties are now controlled by a court-appointed receiver, following a settlement agreement ...

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What 2023 holds for Miami real estate?

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What 2023 holds for Miami real estate?

Miami shows no signs of a market crash. Here’s what experts say to expect instead.

1. The market will hold strong.

Home sales prices could take a hit if mortgage rates were to continue surging, but that doesn’t seem to be the case, forecasts Ines Hegedus-Garcia, executive VP of Avanti Way Realty.

  • “This sustained decline [in mortgage rates] will help revive homebuying and we should see a more robust market for home sales ...
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Sellers of South Florida waterfront land are testing the market

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Sellers of South Florida waterfront land are testing the market

Looking to capitalize on South Florida’s booming waterfront mansion market, sellers of vacant waterfront lots in Miami and Miami Beach are listing their properties for prices that appear to bend reality. 

Sellers have been told that so many wealthy people are moving from California, Chicago and New York, big CEOs looking for properties like the billionaire Ken Griffin, who paid $106.9 million for a 4-acre Coconut Grove waterfront estate this summer.

But thanks to rising construction ...

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Surf Club Four Seasons tops Miami-Dade’s weekly condo sales

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Surf Club Four Seasons tops Miami-Dade’s weekly condo sales

Miami-Dade County’s condo sales volume fell last week, while the average sale price rose.

Condo sales totaled $97.7 million, lower than the $119.8 million in sales from the previous week. The average sale price continued to climb, as it has for several weeks, reaching $913,000. That compares with $754,000 the week prior.

Prices for the top 10 sales ranged from $1.5 million to $21 million, compared with $1.8 million to $9.4 million the previous week.

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The first tower in Miami taller than 1,000 feet

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The first tower in Miami taller than 1,000 feet

The Waldorf Astoria is set to become the first ever tower in Miami taller than 1,000 feet (it will top off at 1,049 feet).

According to a representative of the developer, the Waldorf Astoria is planned to include: 205 hotel rooms and 360 residential units.

A groundbreaking ceremony took place earlier this month, and construction is now underway.

(source: thenextmiami.com picture: thenextmiami.com)

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