A trio of developers want to build a 44-unit multifamily building with workforce apartments in Goulds, marking continued interest in south Miami-Dade County’s residential market.  Javier Sanchez, Marianna Parra Villegas and Adriana Ortega, through an affiliate, propose the six-story Horseshoe Cay Apartments on a 0.3-acre site at 21839 Southwest 118th Court in an unincorporated area of the county, according to the developers’ application to Miami-Dade filed last month.  Designed by CF Architecture, the building would consist of one-bedroom and two-bedroom apartments. About 10 percent ..read more

South Florida’s luxury condo buyers want a place for their in-laws to stay –– as long as it’s not in a spare bedroom. While well-heeled single-family homeowners can host their in-laws, children, grandchildren and friends in detached guest houses, condo dwellers don’t have that option. That’s why developers across the tri-county region are offering guest suites — one-bedroom units available only to owners — to win over luxury buyers.  “You can welcome someone wholeheartedly and still have that private environment within your own residence. You can separate, create that distance needed,” sa ..read more

Alta Developers is launching sales of a short-term rental-friendly condo project in Coral Gables, joining a growing pipeline of such developments planned in Miami-Dade County, The Real Deal has learned.  The Miami-based firm, led by CEO Raimundo Onetto, originally sought to develop an apartment building at 4011 Salzedo Avenue. About six months to a year ago, Alta changed course.  “The multifamily market is pretty tough today. With interest rates and costs, it’s very difficult to launch a multifamily project,” Onetto said. “The condo projects keep selling and selling and selling.”&nbs ..read more

Crunch Fitness founder Doug Levine sold a trio of commercial buildings in Miami’s Wynwood for $24.5 million, roughly $5 million below his asking price, The Real Deal has learned.  JYB 126 acquired the 0.7-acre portfolio that can be redeveloped into a mixed-use project with a hotel or multifamily component, according to Tony Arellano and Devlin Marinoff with Dwntwn Realty Advisors, both of whom represented the seller and the buyer. “The market still seems to be moving, especially in neighborhoods like Wynwood where the fundamentals are good,” Arellano said. “From what we are seeing from in ..read more

After a number of rejections and opposition from neighbors, the Allen Morris Company secured approval for a downsized version of its plans for Ponce Park Residences in Coral Gables that’s been years in the making.  The latest version of its plans call for a nine-story building with 57 luxury condos at 3000 Ponce de Leon Boulevard, across from the major mixed-use Plaza Coral Gables development. In 2021, Allen Morris proposed a 16-story building with up to 160 residential units.  Last week, the Coral Gables City Commission voted unanimously on first reading to pass ordinances changing ..read more

Lender Fuse Group sold a pair of unfinished Coconut Grove buildings tied to defaulted loans from two developers. Fort Lauderdale-based Fuse sold the building shells at 2961 and 2967 Bird Avenue in Miami to an entity led by Patrizio De Brasi for $8.1 million, according to records. De Brasi took out an $8.2 million loan from Fuse.  The deal comes after the properties were tied to two separate much-touted, but failed Coconut Grove projects, reportedly slated to be condominiums.  First, Coral Gables-based Metronomic, led by Ricky Trinidad, wanted to redevelop the sites as part of a 300,0 ..read more

Electra America and BH Group plan to tear down a big box store on an outparcel of Cutler Bay’s Southland Mall later this year, after the current tenant, Ross Dress For Less, moves into a space in the indoor shopping center.  The move will jumpstart the first phase of the joint venture’s $1 billion makeover of Southland Mall into Southplace City Center, a mixed-use project that will ultimately have 4,395 apartments and condos, a 150-room hotel, 60,000 square feet of medical office space, 150,000 square feet of retail outparcels and a community amphitheater. The new buildings would surround ..read more

Haimov Group is listing a Miami Gardens development site for $24.5 million, after abandoning plans for a $200 million mixed-use project. Miami Beach-based Haimov, led by Igal and Aaron Haimov, is looking to sell a 3.6-acre vacant property at 17300 Northwest Seventh Avenue Road, a listing obtained by The Real Deal shows.  Jamie Rose Maniscalo and Elina Stolyar with Miami-based Alpha Commercial are marketing the site on behalf of Haimov, the listing shows. Aaron Haimov did not immediately respond to a voice message and a text seeking comment.  The site, formerly home to an 11-story hos ..read more

South Miami-based Estate Companies advanced its ongoing expansion into Broward County, winning site plan approval in Davie for a 353-unit apartment building with an affordable housing component. The Davie Town Council last week approved the site plan for Soleste Reserve I, as well as a developer agreement with Estate that mandates deed restrictions requiring below-market rents for 53 of the 353 apartments. Estate plans to break ground in late summer, Robert Suris, the firm’s managing principal, said via email. He also said Estate has lined up a loan to finance construction of Soleste Reserve I ..read more

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics. Attitudes on South Florida’s scintillating rental market vary wildly, depending on perspective. For local unit owners and investors, the sector remains insanely profitable (even if somewhat cooler than last year), while struggling renters are among the most cost-burdened and competitive in the entire country. Forward-thinking developers have bet big on luxury rental condos where investors can earn passive income by actively marketing and renting their units out for shor ..read more