Miami-Dade County’s condo sales and dollar volume fell last week. A Residences at Armani/Casa trade in Sunny Isles Beach took the priciest spot. Brokers closed 133 condo sales totaling $113 million from June 10th to June 17th. The previous week, brokers closed 189 condo sales totaling $169 million. Last week’s units sold for an average of $852,000, lower than the $892,000 sales average from the previous week. The average price per square foot fell to $569 from $575, according to data from Redfin. For the top 10 sales, prices ranged from $2.4 million to $6.4 million. Leaflet map created by Ada ..read more

Fewer luxury buyers pulled the trigger on home and condo purchases in Miami-Dade County last week.  Buyers signed just seven contracts for residential properties priced at $4 million and up from June 10 to June 16, according to Eklund-Gomes luxe signed contracts report. The properties’ combined asking price is $68.5 million. Four single-family homes and three condos went into contract.  The drop-off in deals could be due to the summer slowdown, as well as flash flooding that delayed open houses, showings and closings.  At the top of the report is the waterfront home at 200 Harbo ..read more

Oak Row Equities is expanding its development pipeline with plans for a multifamily project in downtown Miami.  The New York-and-Miami-based firm is proposing First & Fifth, a 700,000-square-foot building with 500 apartments at 49 Northwest Fifth Street and 50 Northwest 6th Street, according to a press release. In an off-market transaction, Oak Row paid $38.5 million for the 0.8-acre development site adjacent to the Brightline MiamiCentral Station. A Colliers team led by Mika Mattingly and Cecilia Estevez, along with Vincent Pastore with Pastore and Associates, handled the deal.  ..read more

Engel & Völkers is opening its seventh South Florida office in Pompano Beach, The Real Deal has learned. Frank Garcia and Marie Gonneville are moving into the office in suite 105 at 2401 East Atlantic Boulevard, according to a press release. Garcia is the owner of Engel & Völkers Fort Lauderdale and the satellite office for the Ocean Resort Residences at the Conrad Fort Lauderdale Beach, the release shows. Gonneville is a Canadian Engel & Völkers agent based in Montréal. Gonneville will provide a connection to Canadian clients, who are an increasingly significant demographic of int ..read more

Citadel | Miami’s Brickell  Billionaire Ken Griffin’s Citadel expanded its office at the 830 Brickell tower that is expected to be completed this summer.    Citadel leased the 13,100-square-foot 14th floor and the 14,400-square-foot 15th floor at the 55-story tower at 830 Brickell Plaza in Miami, said Brian Gale, who is part of the Cushman & Wakefield team leasing the tower.    The deal gives Citadel a total of roughly 130,000 square feet at the tower, after the hedge fund leased roughly 95,000 square feet at the building in 2022.    Griffin, whose net wo ..read more

13th Floor Homes and its partners won site plan approval to build a 124-unit condominium complex in Coconut Creek’s master-planned, mixed-use MainStreet area. The Coconut Creek City Commission on Thursday unanimously approved a site plan for six four-story condominium buildings with 16 to 24 units each on 4.8 acres at the southeast corner of Collum and Banks roads. The development site’s east side is next to a preserve for wetlands, and its south side borders an FPL transmission line easement that also serves as a passive linear park. Prices for the condos would start in the mid-to-upper $400 ..read more

Top South Florida real estate broker Oren Alexander and his brother, Alon, were accused in lawsuits of raping two women more than a decade ago in New York.  The complaints, filed in March under the Adult Survivors Act, allege that the twin brothers sexually assaulted two women in 2010 and 2012, and that they have engaged in a similar pattern of behavior against other women over the years. The Alexanders’ attorney Jim Ferraro denied the allegations.  Oren and his brother, Tal, co-founded Official, a brokerage firm backed by the white label firm Side in 2022, after a decade with Dougla ..read more

Boca Raton-based Bark Management expanded its commercial portfolio in its home city after acquiring an office campus for $15.7 million. An affiliate of Bark acquired The Greenhouse, a pair of office buildings spanning 93,000 square feet at 5255 and 5301 North Federal Highway, a press release states.  Douglas Mandel and Zach Levine with Marcus & Millichap represented the seller, an affiliate of Wigder Investment Group, which is also based in Boca Raton. The company is led by real estate investor Marc Widger, who is also a Boca Raton councilmember.  In 2012, Widger paid $6.3 millio ..read more

Pinnacle scored a $49.9 million construction loan for a 120-unit affordable housing building near Cutler Bay, as financing for below-market rate rental projects continues to flow.  Miami-based Pinnacle will develop the five-story building at 10455 Old Cutler Road in unincorporated Miami-Dade County, according to the developer’s news release. The project, called Old Cutler Village, is the second phase of a larger development by the same name.  Elevated interest rates and banks’ pullback on lending has created a nationwide financing slump and contributed to some South Florida developer ..read more

PMG and its partners secured $668 million in construction financing for the planned Waldorf Astoria Hotel & Residences in downtown Miami, marking the largest ever condo construction loan in Florida.  Bank OZK, the most active construction lender in South Florida, and Related Fund Management provided the financing, according to a press release. The 1,049-foot tower, designed by architect Carlos Ott with Sieger Suarez Architects as a set of glass cubes stacked on top of each other, is planned for 300 Biscayne Boulevard Way.  New York and Miami-based PMG, Canadian private equity fir ..read more