Compradores extranjeros de Latinoamérica impulsan ventas de casas de lujo

Compradores extranjeros de Latinoamérica impulsan ventas de casas de lujo

El sur de la Florida destaca como un destino inmobiliario de lujo predilecto para compradores extranjeros originarios de países con inestabilidad socioeconómica como Argentina, Brasil, Colombia y Venezuela.

“Fort Lauderdale, Delray Beach, Boca Ratón, Palm Beach y West Palm Beach experimentarán el renacimiento por el que han estado trabajando durante mucho tiempo”, dijo Jay Parker, director ejecutivo de Florida.

Fort Lauderdale registró aumentos bruscos de precios, el valor de venta medio de los condominios de lujo aumentó 9.8% lo que se traduce a casi 1.29 millones de dólares y para viviendas unifamiliares, los precios de venta subieron 35% lo que es igual a 2.265 millones de dólares.

De acuerdo con el Informe de Bienes Raíces de la Asociación de Agentes Inmobiliarios de Miami, los compradores extranjeros representan el 32% de los compradores de vivienda en el condado de  Broward.

En Hollywood, las unidades en Hyde Beach House de Related Group se han vendido en 85%, a pesar de que está a un año de completarse. Muchos de los compradores son de Argentina.

Fort Lauderdale, Auberge Beach Residences & Spa de Related Group atrae a los refugiados fiscales de Nueva York y Nueva Jersey, quienes han adquirido 55 de 57 unidades en la torre norte del proyecto, y se han cerrado contratos en 90 de las 114 unidades en la otra torre.

“No es exagerado vincular parte del aumento de la velocidad de las transacciones con el aumento de la demanda de los estados con fuertes impuestos después de la reforma tributaria federal”, dijo Kevin Leonard, vicepresidente de la división de lujo en Keyes, quien aseguró que los altos impuestos en los estados del noreste y las dificultades para deducirlos en sus declaraciones federales han hecho que los compradores fijen su destino al sur.

 

Con información de Sun Sentinel

 

La entrada Compradores extranjeros de Latinoamérica impulsan ventas de casas de lujo se publicó primero en Miami Diario.

Clipped wings: How the Bird Streets celebrity enclave fell from its lofty perch

Clipped wings: How the Bird Streets celebrity enclave fell from its lofty perch

In 2012, as brokers were preparing to debut a sprawling new spec home in the Bird Streets by developer Nile Niami, Malaysian billionaire Jho Low got word to listing agents that the planned broker open house would be a waste of time.

He told them, “You can have your open house for agents, but I am buying the house,” recalled Jeff Hyland, president of Hilton & Hyland. Drew Fenton, one of Hyland’s agents, had the listing.

Low paid $39 million — a record price for the Bird Streets — for the home at 1423 Oriole Drive. Actor Ricardo Montalban once had a mansion at that address. In the end, Low allowed the open house for the six-bedroom, seven-bath property with guard house and infinity pool. The event drew some 400 people, but it was really just a courtesy. The high-end spec home market in the tightly clustered Hollywood Hills community of some 25 streets was hot, so hot that the properties often sold themselves.

So it was in the heyday of the spec home building craze in the Bird Streets, the famed celebrity enclave above the Sunset Strip that is known for its spectacular views. Homes listed at $15 million or more were getting scooped up fast. The Low sale encouraged a slew of doctors, dentists and lawyers with little or no development experience to try their hand at building the latest “white glass box,” as agents describe the prevailing high-end design style.

Lately though, the decade-long run of soaring prices has fallen back to earth.

Agents are struggling to sell an increasing number of lavish spec homes, forcing sellers to slash their prices. An oversupply is growing, they say, and yet construction continues. As of Friday, 15 of 24 homes listed for $5 million or more in the Bird Streets neighborhood had been on the market for more than 100 days, according to an analysis by The Real Deal. Another eight on the market now are listed below $5 million.

“The Bird Streets are feeling a pinch right now,” said Aaron Kirman, an agent with Pacific Union International. “They are not what they used to be.”

Sluggish sales have some agents concerned that the neighborhood may be the first — but not the last — high-end enclave whose overpriced spec homes have mistimed the market. Many of those multimillion-dollar homes are still under construction in some of L.A.’s wealthiest neighborhoods, including Bel Air, Beverly Hills and Holmby Hills.

In the Bird Streets, some spec homes — like the one at 9200 Swallow Drive — linger on the market for 18 months or more. In February, its owner, Russell Madris, an information technology entrepreneur, finally sold the 8,484 square-foot spread with a 12-foot outdoor waterfall and ocean views for $14.14 million. It was a price chop of 39 percent from its original listing of $23 million, back in 2015.

Just four years ago, “it was one-for-one,” Kirman said of home construction vs. purchase. “We had one gorgeous house come on the market in the $30 million range, and we had a buyer that was ready to scoop it up in the first two weeks. That happened over and over.”

Not so anymore. A six-bedroom home on 1646 Blue Jay Way, now priced at $11 million, has been languishing on the market for nearly a year and has had its price slashed by 39 percent. Down the street at 1450 Blue Jay Way, a home built in early 2015 and currently priced at $15.9 million, has lingered on the market for more than 190 days. Another estate, at 8854 Thrasher Avenue, which is listed for $25.95 million, is now pushing 150 days on the market. It already got a 7 percent price reduction in June.

Among the latest offerings is a sprawling home at 9127 Thrasher Avenue. It is just steps from the former Jho Low home, around the corner from Leonardo DiCaprio’s two-home compound and another short walk to the prized location that Dr. Dre sold for $32 million in 2015. That home, once thought to be a teardown, is still there.

As for Low, the U.S. government later sought to seize his home as part of $1.7 billion it was seeking from him for allegedly conspiring to launder money he bilked from a Malaysian investment fund. A judge last year told the government to hold off on that request and Low now is a fugitive.

To stir up some interest, agents from Compass who have the Thrasher listing, Tomer Fridman and Sally Forster Jones, recently hosted an open house complete with a multi-course sushi meal and a geisha dance performance. Tyrone McKillen, whose company, Plus Development, built the home, attributes the area’s recent sales struggles to an oversupply of mediocre homes.

“Everyone is building these big white shiny boxes, and everyone cuts corners on design and they all end up looking the same,” McKillen said.

“Overinflated”

The neighborhood “is overinflated based on unrealistic expectations from these new developers to the market,” he said.

Those first-time developers have tried to emulate the style of well-known modern designers like Paul McClean, who has worked on several Bird Street homes, including the Low house. A notable version includes the one at 1474 Blue Jay Way that the late Tim Bergling, the Swedish DJ known as Avicii, bought in 2013 for $15.55 million. He died in April.

McKillen, who made his name building homes for the super-wealthy in Bel Air and other prime neighborhoods, worked on the construction of the Avicii house. Before 9127 Thrasher he developed one other home in the Bird Streets, at 1442 Tanager Way, which sold for $25 million in 2015.

Now his company is betting big that the best homes can still sell. Plus Development has five spec homes under construction in the Bird Streets, three of which McKillen expects will be priced between $30 million and $40 million.

Those homes are only adding to the construction chaos in the neighborhood. A sea of pickup trucks, cement mixers and Dumpsters choke the narrow, winding streets. “For sale” and open house signs are poking from the grass on almost every street.

The neighborhood, said Andy Butler, Kirman’s marketing director at Pacific Union, “is in the process of gentrifying from wealthy to uber-wealthy and there is little peace to be had.”

After Low’s and Dr. Dre’s $30 million-plus trades, the neighborhood had a banner year in 2016, when seven mansions sold for a combined $116.3 million — more than any year before or since. Overall, however, the median price for homes that sold for at least $10 million has dropped by an average of 5 percent each year since 2012. The median in 2017 was $12.45 million for five sales, compared to $21.75 million for two sales in 2015, according to a TRD analysis of closed single-family home sales, as compiled by Redfin.

As far back as the 1930s, the Bird Streets was home to Hollywood royalty. Famed director George Cukor lived in a Roland Coate-designed compound on Cordell Drive, on the southern edge of the neighborhood. Back then the Sunset Strip was an unincorporated part of L.A., infamous for brothels, casinos and seedy nightclubs.

By the 1950s the neighborhood started to be known as a place where young Hollywood stars would buy their first show-off home, including Rock Hudson, who once lived on Warbler Way. The Beatles’ George Harrison wrote “Blue Jay Way” on an organ while renting a home on the street. More recently, stars like DiCaprio, Jennifer Aniston and Keanu Reeves bought into the neighborhood.

The panoramic views have always driven home prices, agents say, more than famous designers or experienced developers. In the wake of the housing crash of 2008, spec developers began buying up older homes and replacing them with sleek structures featuring “day-lit” basements and other modern touches that could justify much higher prices.

More spec homes

But development in the Bird Streets is challenging. The lots are generally about a half-acre, smaller than in Bel Air and Beverly Hills, and are rarely flat, limiting the size of homes. There is also limited privacy.

“You can’t really jump in your pool naked at a lot of these houses because there are 14 other houses looking right at you,” Butler said.

And there are few rules regarding construction or neighborhood aesthetics, which is why a newly-built $30 million home can go up alongside a much older $8 million home, Hyland said.

Even with so many homes sitting on the market unsold, more are in the works.

Josh Altman, an agent with Douglas Elliman, is a Bird Streets resident. He recently sold two homes there, and said he is expecting about a dozen more modern spec homes to hit the market in the next six months, including five in the Doheny Estates section of the neighborhood.

“They will be priced between $20 million and $30 million,” Altman said. “It is probably going to be more properties and developments hitting in the next six months than there ever have been.”

For Altman, that means buyers will have lots of choices. For Kirman, the stagnant Bird Streets are reflective of buyers’ growing recognition that the L.A. market is slowing, at least in certain high-end pockets.

After 23 consecutive quarters of year-over-year price increases, the median sales price in L.A. declined 7 percent in the second quarter to $1.3 million, and the number of sales slipped from the year-ago record, according to a report released this week by Douglas Elliman.

“We have a lot of high-end inventory coming on the market,” Kirman said. “So much so that we have more high-end inventory than we will have buyers.”

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Bryant McKinnie Back To School Drive “Pay It Forward”

Bryant McKinnie Back To School Drive “Pay It Forward”

Join two time Miami Hurricanes All-American, National Champion, NFL All-Pro, Super Bowl Champion Bryant McKinnie at “Pay It Forward”, a back to school drive to provide school supplies–backpac…

Gambling in Miami? Not so fast. Potential jai alai in Edgewater may prompt new zoning rules

Gambling in Miami? Not so fast. Potential jai alai in Edgewater may prompt new zoning rules

Magic City Casino, 3030 Biscayne Boulevard and Isadore “Izzy” Havenick

In response to a controversial proposal by the owners of Magic City Casino to open a jai alai fronton and poker room in Miami’s Edgewater neighborhood, city officials want to draft new zoning regulations that would require gambling facilities to go through a public hearing process and obtain a super-majority vote from the Miami City Commission.

City commissioners voted 4-0 on Thursday to authorize Miami City Manager Emilio Gonzalez and the planning department to begin working on amendments to the Miami 21 zoning code that would define what gambling facilities are and where such facilities can be located in the city. It would also require four out of five commissioners to vote in favor of any future pari-mutuels, casinos, or card rooms.

Commissioner Ken Russell proposed the legislation after learning that the state’s division of pari-mutuel wagering recently awarded a permit to West Flagler Associates, the entity that owns Magic City Casino, to operate a “summer jai alai” site on land owned by Crescent Heights at 3030 Biscayne Boulevard. West Flagler would lease the property from Crescent Heights and would also include a restaurant and poker room.

Several prominent businessmen and developers, including Jorge Perez, Craig Robins and Norman Braman, have come out against the new gambling facility.

Russell said the city does not have a mechanism in place that requires gambling facilities to go through a public process that would vet any proposed development or give the city the ability to reject the location of a new casino, pari-mutuel or card room. He said adding the regulations ensures residents have a role in deciding whether they want gambling facilities in their neighborhood.

“It sets a high bar, but it allows [gambling] uses to happen,” Russell said. “When an applicant has something ‘as of right,’ there is no public hearing necessary. A use like this should have a public hearing, and the ability for this body to weigh in.”

Ron Book, West Flagler’s attorney, warned commissioners that his client would likely sue if the new regulations are adopted and the city then moves to revoke any permit approvals obtained by the pari-mutuel company. “If we end up in litigation and you lose, you could have a triple-figure judgment [against the city] and the ability to build whatever we want in the future,” Book said. “Why would you roll the dice unnecessarily? We don’t believe this proposed resolution stops us.”

Book requested city commissioners defer a vote on Russell’s resolution until September to give West Flagler, led by the Havenick family, time to work with Miami’s planning department on a solution.

However, Stephen Helfman, a lawyer representing Perez and Braman, said West Flagler was trying to stall the city from taking action. “This is a bunch of bluffing,” Helfman said. “I think we should start this process. They are attempting to stall the process so they can begin [obtaining approvals] so they can file that lawsuit they are threatening.”

The Ultimate Rosé-Inspired Beach Accessories, Presented by The Palm by Whispering Angel

The Ultimate Rosé-Inspired Beach Accessories, Presented by The Palm by Whispering Angel

We’re all obsessed with rosé this time of year, but it doesn’t have to stop at your wine glass. No matter which beach you’re planning on enjoying during the summer, be…

Ciudadanos de Doral elegirán en referéndum si aprueban plan millonario para la construcción de parques

Ciudadanos de Doral elegirán en referéndum si aprueban plan millonario para la construcción de parques

La ciudad de Doral ha sido proyectada para brindar a sus habitantes calidad de vida a través de espacios que brinden oportunidades de diversión y un sano esparcimiento. Contar con un parque o zona recreativa se convirtió en prioridad para los gobernantes.

En las elecciones programadas para el 06 de noviembre de 2018, se espera que los ciudadanos asistan a las urnas para “votar en un referéndum de Bono de Parques de Obligación General por 150 millones de dólares que ayudaría a financiar la construcción de futuros proyectos del parque Doral”.

El Plan Maestro de Parques y Recreación de la Ciudad de Doral del año 2017, evaluó las necesidades de la ciudad las cuales arrojaron como prioritario la construcción de espacios verdes adicionales, instalaciones acuáticas, áreas naturales, así como infraestructura para la recreación interior.

“Cuando termine el verano y se acerque la fecha del referéndum estaremos haciendo un total de 3 Workshop para que las personas se empapen sobre el tema y puedan tomar la decisión de participar o no en la consulta electoral según sea su criterio”, dijo Bárbara Hernández, directora de Parques y Recreación de la ciudad de Doral.

La decisión del Concejo Municipal de proceder con el referéndum de bonos se produjo después de la deliberación, tomar en cuenta la información reunida durante la actualización del Plan Maestro de Parques y las estimaciones de crecimiento de la población.

 

 

Con información de Doral Times

La entrada Ciudadanos de Doral elegirán en referéndum si aprueban plan millonario para la construcción de parques se publicó primero en Miami Diario.

Baptist Health under contract to buy Coral Gables dev site at center of litigation

Baptist Health under contract to buy Coral Gables dev site at center of litigation

Collection Residences rendering with Masoud Shojaee and Ugo Colombo

Baptist Health is under contract to pay $41.5 million for the development site of the Collection Residences in Coral Gables — a property at the center of contentious litigation between developers Masoud Shojaee and Ugo Colombo, court documents reveal.

The Baptist deal could close within two months.

Shojaee and Colombo had planned to jointly develop the Collection Residences, a mixed-use project with 128 condos and retail space at the 2.8-acre site at 250 Bird Road, 4101 Salzedo Street and 4112 Aurora Street before their partnership ended in dispute nearly three years ago.

Shojaee and Colombo, through their firms, jointly owned Coral Gables Luxury Holdings LLC, which planned to develop the project across the street from The Collection. Following a major falling out in November 2015, Shojaee and Colombo pulled out of their joint venture.

In January 2016, Shojaee’s Shoma Coral Gables filed suit against Colombo’s Gables Investment Holdings LLC; Colombo, individually; and The Collection LLC, Colombo’s Coral Gables luxury car dealership, alleging breach of contract, among other counts. Shojaee’s company alleged that Colombo and his companies breached their operating agreement. Earlier this month, the court dismissed Colombo as a defendant in the case.

The suit seeks between $4 million and $5 million in damages, said Shoma’s attorney Andrew Hall, founding partner of Hall, Lamb, Hall & Leto. A civil jury trial set to begin this week was delayed. Last week, Colombo’s firm filed a motion to dismiss the case, citing a contract with Baptist Health to purchase the development site.

“The company is essentially in liquidation mode with an executed contract of sale of its only asset — the property,” the motion states. “If following closing on the contract of sale to Baptist Hospital, [Shoma] receives back every dollar it invested, it will have no actual damage and its claims in this case will be entirely mooted.”

Hall said Shoma objects to dismissing the case. Robert Burlington, a partner in Coffee Burlington, who represents Colombo and his companies, declined to comment. Kathleen Moorman, vice president of Baptist Health Enterprises Real Estate and Development, did not immediately respond to a request for comment.

Baptist Health has been expanding throughout South Florida in recent years. It recently opened a four-story, 60,000-square-foot outpatient facility at Crescent Heights’ mixed-use development at 709 Alton Road in Miami Beach.

The 2016 suit tied to the Coral Gables site alleged that after Shoma refused to give in to Colombo’s demands, Colombo sabotaged the project, “causing substantial damages to Shoma.” Colombo responded to the lawsuit at the time, calling it “a frivolous lawsuit filed by a peculiar fellow.”

“There’s no question that there is an awful lot of money lost to engage in the development that shouldn’t have been lost,” Hall said, citing expenses including architectural engineering plans, sales office construction and operations. “Those millions of dollars were wasted and its seems to me that [Colombo’s CMC Group] needs to basically write the check because they did something they had no right to do, and make us whole.”

Colombo and Shojaee paid $27 million for the property in 2013, plus a $1 million bonus upon execution of a sale or lease of underground parking spaces to the Collection, and 10 percent of the gross rental income from any lease or the sales price for the purchase of any underground parking, according to the suit.

If the lawsuit goes to trial, Colombo’s firm’s motion to dismiss states that if Shoma proves a breach of contract and a jury awards its claimed out-of-pocket damage, Shoma cannot also receive anything from the closing on the sale of the property because it cannot have a double recovery.

But Hall said that even if the Baptist deal goes forward, the $4 million to $5 million is still lost. “It’s money we didn’t need to spend,” he said, ”and we are going to make them pay us back for that.”

Bubbles & Boss Ladies

Bubbles & Boss Ladies

Sip, shop, and network at Graupel’s “Bubbles & Boss Ladies” this Thursday from 6-9 p.m. Get fitted using 3D technology to purchase custom made garments. Ladies enjoy complimentary bubbly.…

Cierran restaurant por segunda vez en el mes debido a insalubridad

Cierran restaurant por segunda vez en el mes debido a insalubridad

Inspector estatal ordenó cerrar por segunda vez en el mes el local de comida rápida Cheddar’s Scratch Kitchen ubicado en Tamarac.

El inspector llegó al restaurant tras recibir una queja de un cliente, y luego de realizar las evaluaciones correspondientes se corroboró que Cheddar’s Scratch Kitchen cometió nueve violaciones de acuerdo con el registro estatal.

Esta vez consiguieron nuevamente excremento de roedores y cucarachas en el área de la cocina.

La primera sanción en el mes se realizó del 9 de julio hasta el 12 de julio por los mismos problemas. El gerente del local se negó a dar declaraciones sobre los cierres por insalubridad y por qué no se ha corregido el problema.

De acuerdo con el registro estatal estas son las faltas cometidas por Cheddar’s Scratch Kitchen:

“Actividad de roedores presente como lo demuestran los excrementos de roedores encontrados. Se observaron aproximadamente 11 excrementos de roedores secos en la rejilla de almacenamiento de latas en la parte posterior de la cocina. ** Repita la violación **.”

“Actividad de cucarachas presente como lo demuestran las cucarachas vivas encontradas. Se observó 1 cucaracha viva en la pared detrás del enfriador en la línea de cocción”.

“Cucarachas muertas en el local. Se observó1 cucaracha muerta junto a servilletas en el gabinete de la estación de espera, 1 cucaracha muerta en el suelo junto a la máquina de hielo en la cocina y 1 cucaracha muerta en la lata de almacenaje en la parte posterior de la cocina. Los empleados comenzaron a quitar las cucarachas”.

“Fuerte olor en el establecimiento dentro de la nevera portátil por el fregadero. Las baldosas del techo extraídas pueden almacenarse en la rejilla por la puerta trasera y encima de la repisa con bandejas metálicas cerca del fregadero.

“Pesticida almacenado con alimentos, equipos y utensilios limpios, ropa de cama limpia y / o artículos de servicio único. Mostrador de moscas almacenado encima de la caja de productos sin lavar a lo largo de la pared en el extremo Kitchener de la cocina y otro limpiador de insectos encima de la mesa de preparación en la cocina donde el pastel está siendo cortado en rodajas”.

“Insectos voladores pequeños y vivos en la cocina, área de preparación de alimentos o área de almacenamiento de alimentos. Se observan 2 moscas en una bolsa en una caja de jarabe de soda junto al fregadero triple. ** Repita la violación **.”

“Alimentos crudos para animales almacenados sobre o con alimentos listos para el consumo en el congelador sin bolsa”.

“El desinfectante de cloro de la máquina de plato no tiene la resistencia mínima adecuada. Dejar de usar la máquina de platos para desinfectar y realizar el proceso manualmente hasta que la máquina lavavajillas se repare y desinfecte adecuadamente. Observado en el lavavajillas (cloro 10 ppm)”

 

 

Con información de Local10

La entrada Cierran restaurant por segunda vez en el mes debido a insalubridad se publicó primero en Miami Diario.

It’s decided: Miami-Dade commission chooses Flagler site for new downtown courthouse

It’s decided: Miami-Dade commission chooses Flagler site for new downtown courthouse

 

The new downtown courthouse will be built by a private real estate developer on the site of a park across the street from the current 90-year Miami-Dade County Courthouse, county commissioners decided on Tuesday.

The resolution, sponsored by Miami-Dade County Commissioner Sally Heyman, eliminates a 42,000-square-foot parking lot near the Miami Children’s Courthouse at 155 Northwest Third Street. Instead, that site will continue to be used as parking until funds can be obtained to build a future facility related to children services.

Miami-Dade Mayor Carlos Gimenez wanted to build the future 600,000-square-foot courthouse on the surface lot by the Children’s Courthouse, arguing that it would be $6.3 million cheaper to build at that site than at the 25,000-square-foot park abutting the Metrorail near the county’s main library and HistoryMiami.

However, several lawyers and business leaders in Miami’s downtown area wanted the future courthouse to be built on the park just west of the current courthouse at 73 West Flagler Street.

Miami-Dade County is seeking to partner with a private developer to build a new civil courthouse after county voters rejected a $390 bond issue in 2014. Lawyers and judges insist that the current courthouse is an unsafe and unhealthy building and needs to be replaced.

The process of finding a developer to build a new courthouse has been a bumpy and controversial one, complicated by an unsolicited bid issued by Florida East Coast Industries, a real estate development company that owns the Brightline train system and is building the 3-million-square-foot MiamiCentral project in downtown Miami. That bid, which was submitted in January, proposed building a new courthouse on the Flagler Street park site in exchange for $26 million a year for the next 35 years. Other companies that have expressed interest in building a new courthouse so far include Fengate Capital Management, the Plenary Group, Sacyr Infrastructure USA, and M-S-E Judicial Partners. The details of their bids are still unknown due to the county’s cone of silence rule.

The current timeline calls for a developer to be selected by county commissioners by Sept. 2019 and for construction on a new courthouse to begin by July 2020.

The county is also seeking a developer interested in purchasing the historically designated civil courthouse. FECI has expressed interest in the past of turning it into a hotel.