News about properties and real estate
On the market for more than three years and green-lighted last month for a new four-unit townhouse complex, a vacant lot at 215 Brazilian Ave. near South County Road has been sold to the project’s developers for $6 million, according to the price recorded with last week’s deed. The developers shouldn’t have any problem recouping …
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What is it about London that wealthy Russians can’t get enough of? Thanks in no small part to the crisis in Ukraine, their takeover of the London property market is growing apace. According to the Financial Times £, well-to-do Russians – and Ukrainians too – “are trying to shift more cash into London property … …
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Florida’s real estate market remains haunted by decaying and abandoned properties even as new foreclosures slow and home values rise. These so-called “zombie” foreclosures — properties forsaken by both the bank and borrower — number 54,900 statewide, including 14,600 in Palm Beach, Broward and Miami-Dade counties, according to a new report from RealtyTrac. The concentration …
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Gil Dezer, a Miami-area developer, five years ago had 850 unsold condominiums on his hands and almost $500 million in loans coming due as credit markets froze and buyers disappeared.Today, he’s back in the market with what he sees as a safer bet: a 132-unit luxury project for auto enthusiasts called the Porsche Design Tower. …
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It has been nearly three years since builder Josh Anderson purchased 36 distressed lots just outside of Las Vegas for an average of about $90,000 each, hoping that a bet on troubled land would pay off once the market turned. If all goes well this week, his gamble could result in a jackpot. One of …
A new downtown hotel contemplated by Tampa Bay Lightning owner Jeff Vinik could marry 400 hotel rooms with 50 high-rise condo units, a city of Tampa document shows. Such hotel/condo hybrids were popular around the country until last decade’s real estate bust, particularly among luxury hotel developers, said Chuck Ross, a hotel consultant not affiliated …
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