SEA CHANGE: Low-rise condo on Sunny Isles Beach, facing major repairs, sells its piece of paradise for development Dozens of windows are boarded up at the ’50s mom-and-pop motel turned condo. Walkways are propped up by scaffolding. Some of the siding is gone with the wind, while tarps cover some of the roofing. The 172-unit …
Author Archives: Administrator
The Battle of Biscayne
The Battle of Biscayne Desire and Felicity shamble down the scorching sidewalk, sodden makeup smearing sullen faces. They’re looking for the telltale sign from a driver rumbling through midafternoon traffic on Biscayne Boulevard: prolonged eye contact and a chin nod. Or maybe the reliable standby: “Excuse me, miss, but I need directions.” Both women are …
MeriStar Hospitality to Sell 10 Florida Assets
MeriStar Hospitality to Sell 10 Florida Assets MeriStar Hospitality Corporation, one of the nation’s largest hotel real estate investment trusts (REIT), has signed a definitive agreement to sell a portfolio of nine hotels (1,948 rooms) and a golf and tennis club, all located in Florida, to an affiliate of The Blackstone Group for approximately $367 …
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Lenders try to keep mortgage boom alive
Lenders try to keep mortgage boom alive Hoping to ride a new wave of profits as the mortgage boom winds down, lenders have changed course and are targeting borrowers with adjustable-rate mortgages and encouraging them to refinance into fixed-rate loans. Many lenders have been pushing adjustable-rate loans as a way for borrowers to keep their …
Captiva resort damaged by Charley may get new owner
Captiva resort damaged by Charley may get new owner Talks are under way for the sale of Captiva’s South Seas Resort. The New York-based Blackstone Group is negotiating to buy a group of Florida resorts from MeriStar Hospitality Corp., according to local real estate expert Frank D’Alessandro. That includes South Seas Resort & Yacht Harbour, …
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Gentrification Arrives at a Crossroads in Yorkville
Gentrification Arrives at a Crossroads in Yorkville – New York Times The intersection of Lexington Avenue and 86th Street is arguably the crossroads of the Upper East Side of Manhattan, a transportation hub within easy walking distance of some of the costliest real estate in the city. Yet for decades it has resisted gentrification. On …
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