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02/03/2012 02:15 PM
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Today’s priciest new listing
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South Florida’s priciest new listing today is a single-family home at 1009 N Southlake Dr Street in Hollywood that’s asking $2.295 million, according to Condo Vultures. The 3,986-square-foot waterfront home was built in 1995 with three bedrooms, three bathrooms, a wine cellar, a gated court and a pool. Bevi Schram of Nestler Poletto Sotheby’s International Realty lists the property. (Condo Vultures data includes condos and single-family listings in the main metropolitan areas of Miami, Fort Lauderdale, and [more]
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02/03/2012 01:30 PM
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Soffers’ controversial Davie Commons project gets picked up out of foreclosure by … Jacquelyn Soffer?
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Jeffrey and Jacqlyn Soffer are relinquishing control of their defaulted Davie Commons project to a team of investors whose managing member is Jacqlyn Soffers. According to the South Florida Business Journal, KeyBank sold the $17.4 million mortgage it foreclosed on to New York-based KBNP LLC, which won an $18.7 million foreclosure judgment against Davie Commons. Unless another party bids higher than KBNP in the March auction, it will take control of the 152.6 acre site [more]
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02/03/2012 12:45 PM
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SF foreclosure stats for the week
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After a brief respite last week, 2012 weekly foreclosure filings continues to outpace those recorded a year ago. According to Condo Vultures there were 736 foreclosures filed in the week ending Feb. 3 compared to 647 for the same seven days of 2011. The total number of foreclosures year-to-date is3,394, well ahead of the 2,801 that were filed during the same period in 2011. Miami-Dade and Broward counties are responsible for the increase, as Palm
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02/03/2012 12:00 PM
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Remodeling supplants new home purchases
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Do you fit any of these descriptions: – You came through the housing bust and recession far more debt-averse than you were before. – You’ve been reluctant to consider selling your house because you don’t believe you’ll get what it’s really worth. – Buying a new home is out of the question, even with today’s low interest rates, because it’s so difficult to qualify for a mortgage. – You’ve gradually come to the conclusion that [more]
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02/03/2012 11:15 AM
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New Yorkers abandon Big Apple to buy in the Sunshine State
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Sao Paulo. Caracas. Mexico City. Toronto. Buyers from cities like those have been driving Miami’s residential market since the worst of the condominium bust. And although it was largely overshadowed in the foreign buyer shuffle, New York City residents are heading back to Florida with money in hand. “[New York buyers] are very, very real and very active,” said Phil Spiegelman, principal of brokerage ISG. “It’s tangible, and it’s happening at properties across the board.” [more]
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02/03/2012 10:30 AM
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Douglas Elliman Florida adds Fortune International broker Oliver Ruiz
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Former Fortune International broker Oliver Ruiz has joined Douglas Elilman Florida as managing broker, the firm announced today. “I want to make Douglas Elliman Florida the number one real estate company in South Florida,” Ruiz said in a statement. Ruiz, a 15-year real estate veteran, will focus on strategic growth in market areas including Coral Gables, Downtown Miami, Brickell, Aventura and Sunny Isles. “Oliver adds a tremendous leadership quality to our expanding team,” said Douglas
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02/03/2012 09:45 AM
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MyBrickell to break ground this month
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MyBrickell, one of the the newest development projects in Miami, will break ground this month, and has already obtained reservations for 80 percent of its units. The Jorge Perez project is featuring design by Karim Rashid, is partly targeting the Latin American buyers that Perez said “saved” the Miami market after the condo bust. The project is starting at an average of $295 per square foot. — Alexander Britell
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02/03/2012 09:00 AM
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Shopping Center Group adds Anthony Blanco in Miami office
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The Shopping Center Group has hired Anthony Blanco as the director of investment sales in its Miami office, the firm announced. Blanco, was formerly with Plaza Advisors, where he participated in the sale of Miami’s West Bird Plaza and Country Walk Plaza, the latter of which was sold at a record cap rate. Blanco will be joined analyst Mallory Ham in the Miami office. The Shopping Center Group manages leasing for 800 retail centers in
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02/03/2012 08:15 AM
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New poll shows casino support, but gaming bill stalled for now
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Approximately 57 percent of Miami-Dade County voters support the Genting casino resort project, according to a poll to be released today by Floridians for Jobs and Prosperity, the Miami Herald reported. But the poll won’t mean much for now, following the decision by State Rep. Erik Fresen to withdraw the bill today, saying it would not get the appropriate opportunity for debate. Genting is one of the funders of the group, according to the Herald. The Malaysian [more]
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02/03/2012 07:30 AM
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Miami apartment sector rising
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Thanks in part to a sizable international buyer pool, Miami-Dade County’s apartment market will continue to see strong tenant demand and decreasing vacancy, according to a report from Marcus & Millichap. The firm predicts that “solid rental housing demand” will reduce Miami’s vacancy rate by 50 basis points to 4.4 percent, following an 80-basis-point drop in 2011. The low vacancy will also support a 3.6 percent jump in asking rents to $1,124 per month.Effective rents are [more]
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