South Florida’s multifamily market sees fewer investors than 2019. Still, prices rise.

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South Florida’s multifamily market sees fewer investors than 2019. Still, prices rise.

Anticipated population growth has multifamily investors spending more on apartment buildings despite sales volume dropping by 50% for the first half of 2020, compared to the year-ago period, in Miami-Dade and Broward, according to a sales report.

Price per square foot for multifamily units slumped by 29% in Broward year-over-year, but Miami-Dade saw a 25% increase in price per square foot, according to the Cushman & Wakefield South Florida 2020 midyear forecast. The report compared sales data for the ...

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New Fort Lauderdale retail space is leasing quickly. Outdoor seating is key.

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New Fort Lauderdale retail space is leasing quickly. Outdoor seating is key.

Society Las Olas, a new residential-mixed use building in Fort Lauderdale, has filled 44% of its retail space. The draw? Outdoor seating.

Health-conscious eatery Pura Vida Miami recently leased 1,600 square feet. Virginia-based Thompson Hospitality signed a 6,000-square-foot lease, dividing 4,500 square feet for Matchbox Restaurants and about 1,500 square feet to Big Buns Damn Good Burger. All are expected to open during the first quarter 2021.

“They all liked the high energy and outdoor seating along the river,” said Ben Mandell, ...

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Home sales plunged across South Florida in Q2

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Home sales plunged across South Florida in Q2

Coronavirus took its toll on South Florida’s residential markets in the second quarter, with double-digit declines in Miami-Dade, Broward and Palm Beach counties.

Miami-Dade condo sales fared the worst, with sales dollar volume and closings falling by nearly half. Single-family home sales dropped by more than 30 percent in each county, year-over-year, according to the Miami Association of Realtors.

Luxury brokers have pointed to an increase in home sales in waterfront markets such as Miami Beach ...

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Resi sales plummet across South Florida in Q2

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Resi sales plummet across South Florida in Q2

Residential sales plunged across Miami-Dade, Broward and Palm Beach counties in the second quarter, following a first quarter in which home sales were largely spared from the effects of coronavirus, according to Miller Samuel’s latest reports.

Among the areas hardest hit in South Florida, Manalapan, a high-end market south of Palm Beach, experienced a 54 percent annual drop in closed sales in the second quarter. The condo market in Coral Gables saw the biggest annual decline of all, at more than ...

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Single-family houses may be hot, but luxury condos are selling better than you think

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The pandemic might have driven some buyers out of towers and into single-family houses. But recent sales are proof that for many luxury buyers, condos are still the way to go in South Florida.

The luxury-condo market was oversupplied even before this year. Once pandemic restrictions began, Realtors were forced to go virtual. To attract buyers, they added incentives and dropped prices.

The sales team behind Armani/Casa is offering gift cards worth $25,000 for home buyers to purchase furniture from Armani/Casa, said ...

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Condo Sales Volume Plunges in Miami-Dade

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Condo Sales Volume Plunges in Miami-Dade

Condo sales volume dropped by more than $20 million last week.
A total of 49 condos in Miami-Dade County sold for $30 million last week. That’s compared to 47 units that sold for $54 million the previous week. Condos last week sold for an average price of about $616,000 or $362 per square foot.

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