Russian composer sells Fisher Island condo

Igor Krutoy (Credit: Виктория Тихонова) and Oceanside Residences unit 7471
Vladimir Putin and Igor Krutoy at an awards ceremony (Credit: Пресс-служба Президента России)
Russian composer Igor Krutoy is saying “dasvidaniya” to his Fisher Island condo.
Property records show Krutoy and his wife, Olga, sold unit 7471 at Oceanside Residences on the ritzy island for $7.5 million. Krutoy is a Ukranian-born Russian music composer, performer, producer and promoter. In 2011, he paid $48 million for a condo at the Plaza Hotel, then an all-time record for New York condo sales.
The five-bedroom, 4,932-square-foot unit was listed for $8.9 million, which means it sold for a roughly 15 percent discount. It has views of the ocean, beach and skyline and features Italian marble floors, a gourmet kitchen and a master suite with a terrace, according to the listing. Lana Bell of One Sotheby’s International Realty represented the seller.
The couple paid $3.35 million for the condo in 2002, the year it was completed. They signed the latest deed transfer of ownership in Moscow and list a Manhattan address.
Records show the buyer is 7471 Fisher Island Dr 2017 Revocable Trust. More information on the trust is not available online.
The island, reached only by ferry, boat or helicopter, features such amenities as two marinas, 18 tennis courts, a golf course, eight dining establishments and a mile-long private beach. Membership to the Fisher Island Club, required with a condo purchase, is $250,000 for an equity membership with fees of $2,000 per month. Fisher Island’s common areas also recently underwent $60 million in renovations.

Source: The Real Deal Miami

Construction starts in South Florida drop in October

Construction cranes
Construction starts in South Florida fell 23 percent in October to $1.37 billion, according to a new Dodge Data & Analytics report.
Commercial building continues to outpace residential, due in large part to South Florida’s condo market slowdown. Last month, new commercial starts increased 36 percent to about $720 million, while residential starts declined 47 percent to $653 million, compared to October 2016.
Year-to-date, construction spending fell 9 percent in October to $9.47 billion from $10.4 billion the previous year, according to the report. Commercial starts increased 30 percent to $5 billion, while residential starts fell 32 percent to $4.4 billion.
Despite the consecutive decline in residential building nationwide, home sales in the U.S. rose 6.2 percent month-to-month in October, marking the biggest uptick seen in a decade.
While the condo market may be hurting, commercial sectors, including multifamily and industrial, are thriving as some of the region’s biggest general contractors shift their focus to building properties like warehouses, seaport and airport facilities, and apartment buildings. – Amanda Rabines

Source: The Real Deal Miami

MOCA Contemporary Dialogues: How to Unlock a Portal

The Museum of Contemporary Art (MOCA), North Miami is bringing virtual reality to Miami with the solo exhibition “How to Unlock a Portal” by Swedish photographer Jacob Felländ…
Source: Ocean Drive

Así fue el triste y solitario Thanksgiving de Abby Lee Miller

Thanksgiving,accion de gracias,Abby Lee Miller,Dance Moms,FCI Victorville

Source: Miami Diario

FifaGate: Exdirectivo colombiano hace revelaciones sobre corrupción en el fútbol

Estados Unidos,FIFA,Maibort Petit,fútbol,judicial,FIFAgate,Luis Bedoya

Source: Miami Diario

GID partnership scores loan for Windsor at Doral rental community

Windsor at Doral and GID’s Peter S. Martin (Credit: windsoratdoral.com and GID)
A joint venture between Orlando-based ZOM Living and GID, a Boston-based real estate investment firm, just scored a $45.4 million mortgage for its Doral apartment community in front of the Trump National Doral Miami, property records show.
The lender is a subsidiary of Nationwide Mutual Insurance Company. Officials at ZOM and GID could not immediately be reached for comment.
The joint venture’s Windsor at Doral is a 249-unit apartment community at 4401 Northwest 87th Avenue. Records show ZOM bought the property in 2012 for $13.7 million. A year later, the partnership broke ground on the community, formerly called Bel Air at Doral, with a $34.4 million construction loan from PNC Bank.
The rental community, which sits on a 4.2-acre parcel of land, offers one-, two- and three-bedroom apartments ranging from 755 square feet to 1,607 square feet. Amenities include a lakefront pool, an outdoor hammock lounge, fitness studio, waterfront garden and a pet park and pet spa.
In South Florida, GID also owns Amaray Las Olas, a 254-unit luxury rental tower in downtown Fort Lauderdale and the Windsor at Miramar, a 348-unit apartment complex and co-owns the Mirador at Doral.
In all, GID has at least 81 multifamily properties totaling roughly 22,680 apartment homes in 13 states in its portfolio. The firm also owns 2.7 million square feet of industrial space, is building multifamily in Brazil and India, and has its own hedge fund management affiliate, according to its website.
Earlier this month, Zom closed on land in West Palm Beach and broke ground on its planned 179-unit apartment community Azola West Palm. The multifamily developer is also building Solitair Brickell, a 50-story, 438-unit building near Brickell City Centre.

Source: The Real Deal Miami