News about properties and real estate
Reconversion: Apartments for rent
For anyone not convinced that the housing market has lost some pep, now there’s this:
A growing number of the “condo conversions” that eroded South Florida’s supply of rental housing during the past two years are reopening their doors to renters.
Oceanfront Golden Beach home changes hands [South Florida]
Hot Property: South Florida spotlights selected luxury home sales in Miami-Dade, Broward and Palm Beach counties.
An oceanfront home in Golden Beach that was listed for $7.9 million has been sold for $3.5 million officially, as shown in public records. However, the MLS says that the five-bedroom, 6 ½-bathroom house at 145 Ocean Blvd. sold for $7 million.
Built in 1953, the home is in northern Miami-Dade County, approximately halfway between South Beach and Fort Lauderdale. The house has 6,520 square feet of living area on a 28,500-square-foot lot.
A Real Estate Boom That Keeps on Giving [New York]
Investors in commercial real estate have profited handsomely in the last two years or so as a stable economy, job growth and keen interest from pension funds and other institutions drive demand for properties or companies that hold them.
In fact, investors who put their money into the companies that broker deals, manage buildings and provide related services have reaped particularly rich returns.
Highrollers are folding in Sin City [Las Vegas]
First, the Icon Las Vegas was derailed, then the Hard Rock Hotel and Casino expansion and now the Curve. What’s up with Sin City’s luxury high-rise condo market?
In the last several months, at least seven marquee Las Vegas condo projects have either been canceled or put on hold, causing a dust storm of rumors to swirl through the city and elsewhere as investors wonder if this is a harbinger of a slowdown. The reasons for the projects’ retreats don’t bode well for the larger picture: lack of buyer interest and escalating land, construction and labor costs.
Sebastian fish house deal sinks
In County Commissioner Wesley Davis’ effort to buy and preserve longtime commercial fish houses, Capt’n Butcher’s Floodtide Marina and Seafood may be “the big one that got away.”
“I pulled the plug,” property owner Harold Adams said Thursday.
He said he called off the deal on his 2.8-acre Capt’n Butcher’s complex since the Sebastian City Council late Wednesday declined to add $350,000 to meet his $8 million asking price.
Broker’s deal ends with couple facing eviction by new owner
Carol and Anthony Calvagno said they just weren’t thinking straight three years ago when the solicitation from Southern Star Mortgage came in the mail.
“I would have done anything I could possibly do to save my house,” said Carol, 52, recalling her desperation to save the blue Deer Park cape that was in her family for 60 years.