“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

Once the ink dries and the keys are handed over, it takes a superhero effort to orchestrate a seamless move. That’s where South Florida-based Good Greek Moving & Storage comes in. Known as the “Superhero Movers” with their distinctive yellow and blue trucks featuring the iconic “Spero the Hero” character, Florida’s Most Referred Moving Company is revolutionizing relocation services. Beyond catchy branding, they’ve emerged as industry trailblazers, reshaping standards of professionalism and restoring trust, one move at a time. Recognized as “Mover of the Year” by the American Trucking Assoc ..read more

Developer and hospitality mogul Keith Menin paid $16.1 million for the waterfront Miami Beach home that belonged to the late Don Browne, former president of Telemundo.  Menin said he acquired the 5,552-square-foot, five-bedroom, seven-bathroom home at 5300 North Bay Road. The sale closed late last week, according to the Multiple Listing Service. A trust in Browne’s name sold the property.  Danny Hertzberg with Coldwell Banker’s the Jills Zeder Group represented Browne’s estate. Menin’s wife, Evelyn Menin with Luxe Living Realty, represented Menin.  The 0.3-acre property hit the ..read more

Hedge funder Larry Robbins is the latest New York billionaire moving to South Florida.  Unlike other billionaires jumping on the wealth migration wagon, Robbins isn’t relocating his company along with his family. Robbins’ Glenview Capital Management will remain based in New York City –– for now, Bloomberg reports. Despite making the move himself, Robbins warned of dire consequences for the city should its richest residents keep leaving. “I am in fear for New York’s most vulnerable to become victimized by the great migration,” he told the outlet. “I know of no business that has generated l ..read more

A former lender of the failed project at the entrance to the Miami Design District and Midtown Miami won in court this week, likely closing the door on years of litigation surrounding previous plans for the property.  Miami-based HES Group had planned to develop the site into Triptych Miami, a 475,000-square-foot project with a hotel, retail space, offices and parking at 3601 North Miami Avenue. The latest litigation involved the primary lender, LV Midtown, and QR Triptych, which held a second mortgage.  Rendering of Integra Investments, David Edelstein and Alex Karakhanian’s plans f ..read more

South Florida industrial landlords may see a slowdown on the horizon, as vacancies crept up across the tri-county region in the first quarter, according to a CBRE report. Demand in Miami-Dade County is growing at a slower pace, dropping to 2.1 million square feet in the last 12 months, well below a five-year average annual absorption rate of 4.5 million square feet, the report shows. In Broward, landlords are “adjusting to occupancy losses, lackluster leasing activity and rising availability, and are no longer pushing rents higher.” And the Palm Beach County market has softened in the past fou ..read more

Miami-Dade County’s condo sales and dollar volume rose last week. Brokers closed 160 condo sales totaling $156 million from April 15th to April 22nd. The previous week, brokers closed 135 condo sales totaling $141 million. Last week’s units sold for an average price of $977,219, lower than the $1,044,934 average price from the previous week. The average price per square foot rose to $651 from $611, according to data from Redfin. For the top 10 sales, prices ranged from $3.1 million to $10.9 million.  Continuum’s South Tower units 1902 and 1903 at 100 South Pointe Drive in Miami Beach took ..read more

Dealmaking in Miami-Dade County’s luxury residential market slowed last week, with just nine homes over $4 million going into contract. That’s down from 17 new contracts inked the previous week, according to the Eklund-Gomes report. The combined asking dollar volume April 15 to April 21 for four condos and five single-family homes was $66.5 million, down $120 million, week-over-week. Condos performed better than single-family homes last week. Condos made up $39.1 million of the asking dollar volume, and single-family homes accounted for $24.7 million.  The average asking price for condos ..read more

A developer wants to build a 978-unit apartment complex at the Pan American Estates Mobile Home Park in Fort Lauderdale.  Saulo Perez, a South Florida-based real estate developer, proposes the project on the 22.8-acre mobile home park at 150 Northwest 68th Street in the Cypress Creek neighborhood, according to city records.  The Fort Lauderdale Development Review Committee is expected to vote on the project at its meeting on Tuesday.  Designed by MSA Architects, the project would be developed in three phases. Phase I would have 329 apartments in five five-story buildings and a l ..read more

A partnership led by Craig Robins continues expanding its market share in the Miami Design District, buying another retail building from the Gindi family’s ASG Equities. An affiliate of Miami Design District Associates acquired 70 and 74 Northeast 40th Street for $14 million, a press release states. The buyer is a joint venture between Robins’ Miami-based Dacra, L Catterton Real Estate and New York-based Brookfield Properties. Greenwich, Connecticut-based L Catterton is a subsidiary of French luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton. The seller, an affiliate of New York-based ..read more