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Bal Harbour Shops Braces for Fabulous Upgrade
Lifestyle Bal Harbour Shops Braces for Fabulous Upgrade
Back when Stanley Whitman first opened Bal Harbour Shops in 1965 on the former site of a World War II army barracks, outfitting it with the most upscale brands of the day, nobody expected it to survive the competition served up by the bevy or air-conditioned malls that were springing up everywhere at the time.  But, precisely due to its unique feel, its open-air design that takes full advantage of the breezes sweeping across the Atlantic Ocean and Biscayne Bay, as well as the natural beauty of the subtropical setting, Bal Harbour shops was destined to become one of the most elite shopping destinations in the United States. Architect rendering of expansion project Bal Harbour Shops Expansion Project  Currently, Whitman Family Development is planning a 350,000-square-foot expansion project at Bal Harbour Shops that is due to be completed in 2023. The firm’s legal intermediary, Holliday Fenoglio Fowler, L.P. announced in July of 2019 that they secured financing in the amount of $550...
Miami’s New and Pre-Construction Condo Update: September 2019
Real Estate News Miami’s New and Pre-Construction Condo Update: September 2019
This September, the condo pre-construction market had plenty to report. The Related Group finally announced plans for a new condo development, since its last one got shelved in 2017. Developers at Natiivo shared further details on their Airbnb-backed Downtown tower. YotelPad became the fastest-selling project, achieving a full sell out in just 15 months. And, the tallest tower in the city filed for a construction permit to begin its ascent. Read on for details on these condo pre-construction updates and more below: Closings Underway Paramount Miami Worldcenter – Downtown Closings have been underway all September long at the recently completed Paramount Miami Worldcenter. Most owners have already finalized their payments, with only a handful of units remaining for sale. Part of the master-planned mega-complex at Miami Worldcenter, residents are treated to an exceptional array of amenities including a 5,000 sq. ft. futuristic Skyport for passenger drones, an outdoor soccer field,...
Carl Icahn Migrates Hedge Fund to Miami, Leaving Employees with Few Options
Lifestyle Carl Icahn Migrates Hedge Fund to Miami, Leaving Employees with Few Options
News has it that billionaire investor Carl Icahn, whose net worth is over $20 billion according to Forbes, is joining the exodus of affluent New Yorkers and relocating his publicly traded company Icahn Enterprises to Miami in March of 2020.  Furthermore, his employees have been given a simple cut and dry option: join us in Miami or bust. Icahn released the news that he’ll be closing down shop at his offices in New York City and White Plains as of March 31, 2020, and resuming business as usual on April 1st in Miami. A letter penned to his staff read, "My employees have always been very important to the company, so I’d like to invite you all to join me in Miami." Enticing Terms of Relocation Icahn made the deal more inviting with a promise to pay at least the same salary and bonus paid in 2018 to anyone willing to make the move, along with a "relocation benefit" in the amount of $50,000 to be paid in April 2020 once employees have "established permanent residence in Florida." For...
Sunset Harbour Condo Market Going Strong
Real Estate News Sunset Harbour Condo Market Going Strong
Nestled in the northwest corner of South Beach and overlooking Biscayne Bay is the quiet and tranquil Sunset Harbour, a micro-neighborhood that stands out from its surroundings in South Beach on a number of levels. Locals love to call Sunset Harbour home. In fact, they love it so much that the Sunset Harbour condo market is defying the rest of the market in big ways. Sunset Harbour Condo Market Stats For example, 12 units sold at Sunset Harbour Condo (North and South) in the last 6 months, with only 19 available as of the publish date of this article. With an average of 2 sales monthly and 9.5 months of inventory, Sunset Harbour is enjoying a healthy, balanced real estate market right now. In comparison, the surrounding 33139 area had much higher inventory levels, averaging 19 months of inventory in the South Beach area as a whole. Months of inventory refers to the number of months it would take to sell out all currently listed properties at the current rate of sales if no new...
How to Find Beachfront Buildings in South Florida to Buy for Short-term Rentals
Real Estate News How to Find Beachfront Buildings in South Florida to Buy for Short-term Rentals
As one of the world’s top tourist destinations, South Florida is a sweet spot for investors who want to buy a condo for the purpose of using it for personal vacations, and renting it out when it’s not in use. The lure of sandy beaches and balmy tropical weather ensures an endless supply of tourists willing to spend top dollar for a few days of fun in the sun. This means that – if you make the right investment choice – your beachfront vacation condo can basically pay for itself! 1 Hotel & Homes - Miami Beach, FL | Photo courtesy of 1 Hotel & Homes If you’re looking for a beachfront property in Miami that you can use for short-term vacation rental, here are some tips on how to find what you’re looking for. Know the Local Rules St Regis Residences - Bal Harbour, FL allows for short-term rentals Because of its well-established hospitality industry, Miami-Dade County has some very specific laws regarding a property’s eligibility as a vacation rental, so you’ll need to...
Edgewater’s Development Boom Shows No Signs of Slowing
Real Estate News Edgewater’s Development Boom Shows No Signs of Slowing
One of Miami’s hottest new locations is Edgewater, located east of Biscayne Boulevard and overlooking Biscayne Bay. Several factors already make Edgewater an excellent location thanks to its proximity to both the 195 and 395 entrance ramps leading to highway I-95, which can take you north or south. Highways 836 and 112 can get you to Miami International Airport within minutes, and there are 3 ramps leading to the sandy beaches, chic shopping, and dining excellence of Miami Beach. Adjacent to the Arts and Entertainment District, Wynwood, the Design District, and Downtown Miami, Edgewater also provides easy access to practically every desirable destination neighborhood in Miami. With access to Margaret Pace Park as well as the Perez Art Museum, the Frost Science Museum, and the American Airlines Arena, Edgewater delivers a quality lifestyle where nature mixes seamlessly with art and culture. And the future of this enclave with quiet residential undertones mingled with convenient...