Extended-stay hotel proposed next to Woodmont Country Club in Tamarac

Extended-stay hotel proposed next to Woodmont Country Club in Tamarac

The country club has a pending contract to sell land to Palmeira Holdings LLC for construction of a 124-room Home2 Suites hotel

February 23, 2019 04:15PM

Woodmont Country Club (Credit: YouTube)

The city government of Tamarac will consider a proposal to build a five-story, extended-stay hotel next to a country club.

Developer Justin Schmidt proposed a 127-room Home2 Suites by Hilton adjacent to the Woodmont Country Club.

The city’s Development Review Committee is scheduled to discuss the proposed hotel at a meeting on Thursday at Tamarac City Hall.

According to Schmidt, the Woodmont Country Club has a contract to sell land to Palmeira Holdings LLC for construction of the proposed Home2 Suites by Hilton.

Schmidt told the Sun Sentinel the land sale is pending city approval of the hotel project. He declined to disclose the contractual price.

In 2006, Schmidt’s father, Mark Schmidt, who owns the Woodmont Country Club, proposed the construction of homes and a hotel on the club’s golf course.

The Tamarac City Commission rejected those plans but subsequently approved a proposal by Atlanta-based Pulte Homes to build 152 houses on Woodmont’s golf course.

The proposed hotel would be located less than two miles from another one, a Fairfield Inn by Marriott now under construction on a site along Northwest 88th Avenue, next to the Colony West municipal golf course.

The area is economically robust and “can easily accommodate our hotel,” said Karim H. Ismail, co-CEO of Palmeira Holdings. [Sun-Sentinel]Mike Seemuth

Ocean Drive and Kilgore Culinary's Mixology Pop Up at the Miami Yacht Show

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On Saturday, February 16th, Ocean Drive magazine took over the Miami Yacht Show’s Windward VIP Club for an exclusive mixology pop-up by Chef Brad Kilgore of Kilgore Culinary. 30 VIP guests re…

23 militares venezolanos han dejado las armas y se han sublevado contra Maduro

23 militares venezolanos han dejado las armas y se han sublevado contra Maduro

Migración Colombia informó este sábado que 23 funcionarios de los cuerpos de seguridad de Venezuela han desertado de las líneas en la frontera e ingresaron a Colombia con la intención de seguir lo dictaminado en la Constitución.

Por Redacción MiamiDiario

“En este momento Migración Colombia, en el departamento de Norte de Santander, está adelantando las entrevistas correspondientes a 10 miembros de la Guardia Nacional Venezolana (GNB) y dos mujeres de la Policía Nacional Bolivariana (PNB), que llegaron al país huyendo de la dictadura de Nicolás Maduro. Uno más se entregó en él departamento de Arauca”, informó la institución mediante un comunicado.

Varios agentes de la Fuerza Armada Nacional Bolivariana (FANB) y de la GNB se entregaron voluntariamente y se reunieron con Juan Guaidó, presidente interino de Venezuela, quien ha instado a las fuerzas armadas a unirse a las acciones de la Asamblea Nacional.

Durante el ingreso de la ayuda humanitaria, integrantes de la PNB reprimieron la caravana de camiones con cargamento de ayuda humanitaria que intentó ingresar a Ureña, estado Táchira, lo que motivó a un agente de las Fuerzas de Acciones Especiales (FAES) de la PNB a pasar por la entrada de la frontera.

Con información de El Nacional

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London borough solicits voluntary “mansion tax” from rich residents

London borough solicits voluntary “mansion tax” from rich residents

(Credit: iStock)

The governing council is soliciting a voluntary “mansion tax” in an affluent London borough with rich residents including soccer celebrity David Beckham.

A spokesman for the council that governs Chelsea and Kensington told the Evening Standard that if Beckham donates a sum on top of his regular council tax, “we can encourage others to ‘pay it like ‘Beckham.’”

Other affluent residents of the borough include the Duke and Duchess of Cambridge. Mansions can sell for more than £30 million in some parts of Chelsea and Kensington. The Tory borough also has some of the poorest neighborhoods in London, which drew more scrutiny after the 2017 fire at the Greenfell Tower that killed 72 people.

The voluntary “mansion tax” would support a charitable fund that helps people who want to develop skills and get a job.

Currently, local rules prevent the Chelsea and Kensington council from raising its tax on high-priced homes without raising the tax on all homes and burdening low-income families.

So, council members this week agreed to ask the borough’s wealthiest residents to voluntarily donate money in addition to the amount of their regular tax payments to the council.

That solicitation will go to home owners in the highest council-tax bracket, who now pay £2,246.14 in council tax.

In Westminster, a nearby Tory borough, a comparable “mansion tax” solicitation has raised more than £600,000 over the last 12 months. [Evening Standard]Mike Seemuth

National Cheat Sheet: Payless files for bankruptcy, 1M accounts hacked on Zillow’s NYC platform Streeteasy … & more

Clockwise from top left: Amazon realized bringing HQ2 to NYC would be ‘difficult at best’: report, StreetEasy data breach lands a million user accounts on the dark web, CRE brokerage scoops up Industrious’ spare-office-space platform and Payless will shutter thousands of stores amid second bankruptcy filing.

Payless will shutter thousands of stores amid second bankruptcy filing
Payless ShoeSource has filed for bankruptcy and plans close all of its remaining 2,500 stores, Reuters reported. The Kansas-based chain, which first filed for bankruptcy back in 2017, wasn’t able to find a buyer; it now plans to hold liquidation sales at all of its outposts. Payless has already closed hundreds of stores, including the approximately 700 stores that shuttered after its first bankruptcy. Chief Restructuring Officer Stephen Marotta told the outlet its first bankruptcy “left the company with too much remaining debt, too large a store footprint and a yet-to-be realized systems and corporate overhead structure consolidation.” [TRD]

StreetEasy data breach lands a million user accounts on the dark web
An “unauthorized party” hacked one million StreetEasy accounts and is selling them on the dark web, the company said Tuesday. As part of the hack, “email addresses, usernames, and encrypted passwords” were stolen, StreetEasy’s communications director Emily Heffter said in a statement, adding that “phone numbers, the last four digits, card type, expiration dates and billing addresses of some mostly expired customer credit cards may also have been accessed.” The hacker didn’t actually obtain full credit card numbers or CVV/CVC codes, she noted, adding that the company was working to “strengthen [its] internal safeguards” to avoid future hacks. [TRD]

Declining housing sales and increased inventory could be good for buyers: report
The U.S. housing market has now seen declining sales for six consecutive months, according to Re/Max’s National Housing Report for January. At the same time, the market saw a 6.4 percent increase in inventory year-over-year — the highest increase in ten years, the report said. Those factors combined could lead to a more affordable market for homebuyers, the report concluded. The increase in inventory is “a positive for homebuyers, as the market continues to swing their way,” Re/Max CEO Adam Contos said. “The spring selling season shapes up to be as interesting as any we have seen in years,” he added. [TRD]

CRE brokerage scoops up Industrious’ spare-office-space platform
Manhattan-based startup SquareFoot has snapped up Industrious’ commercial subletting platform, PivotDesk. The flexible office space company first bought PivotDesk back in 2017 when it was expanding, but the platform “wasn’t really central to the strategic priorities of the company,” Industrious’ chief executive Jamie Hodari explained. “So when we got an offer we liked, it made sense to find a home that was a tighter fit for what PivotDesk wanted to accomplish,” Hodari added, without providing exact numbers. SquareFoot’s purchase is part of its effort to become a “one-stop shop for all small- and medium-business office space needs,” its chief executive Jonathan Wasserstrum said. [TRD]


Amazon realized bringing HQ2 to NYC would be ‘difficult at best’: report
As the New York real estate industry continues to reel over news that Amazon has abandoned its plans for a headquarters in Long Island City, more details are surfacing about its seemingly abrupt decision, with a source telling the New York Times that the tech behemoth grew concerned about local politicians’ anti-Amazon crusade. “Amazon had to think about what a long-term relationship with New York City would look like, and based on the experiences with local and state politicians to date, concluded it would be difficult at best,” the source said. A company executive also reportedly called the political climate “really rough.” [TRD]

Host Hotels’ $610M purchase sets record in Miami-Dade County
Barry Sternlicht’s Starwood Capital Group and LeFrak have sold a luxury beachfront hotel to Host Hotels for $610 million — the highest per-room hotel sale on record in Miami-Dade County. One Hotel South Beach has 429 rooms, which means that each room went for approximately $1.42 million as part of the deal, which was brokered by Hodges Ward Elliott. Host Hotels currently owns 88 properties across the country, as well as five international properties, for a total of 52,000 rooms. The previous per-key sale record in the county was the Raleigh Hotel in Miami Beach, which sold for $103 million, or $1.24 million a key. [TRD]

Billionaire Ken Griffin donates another $1M to Chicago mayoral campaign
Fresh off the heels of his record-breaking Manhattan penthouse purchase, billionaire Ken Griffin has donated another $1 million to Bill Daley’s mayoral campaign in Chicago, Crain’s reported. Griffin already donated $1 million to Daley’s campaign earlier this month, at which point he said in a statement that he was “proud to support Bill Daley.” Daley, a former investment banker and U.S. Secretary of Commerce, has also received contributions from Michigan Avenue Real Estate Group owner Thomas Meador and Equity Commonwealth chairman Sam Zell. [TRD]

JLo and A-Rod shell out $6.6M for Jeremy Piven’s Malibu beach house
Jennifer Lopez and Alex Rodriguez have bought actor Jeremy Piven’s beach house in Malibu, Yolanda’s Little Black Book reported. The singer-actress and former Yankee, who recently celebrated their second anniversary, paid $6.6 million for the three-story home, which has a number of amenities, including a sauna and a screening room. The couple recently re-listed a Park Avenue condo they bought last year. They also own two other homes in Los Angeles, according to Yolanda. Piven purchased the home for $3.5 million back in 2004. [TRD]

RedfinNow and Zillow Offers make their way to Texas
Texas has two new direct-to-consumer home buying and selling programs. Redfin has launched RedfinNow in Dallas and Zillow has launched Zillow Offers in Houston, the companies said in separate statements on Monday. Zillow had already expanded its program to a number of cities, including Atlanta, Las Vegas and Phoenix. Redfin, however, hadn’t expanded its program beyond California. The two companies will face competition in Texas from platforms including Opendoor and Offerpad. Zillow is working with Mark Dimas Properties in Houston. [TRD]

New Orleans condo market takes a hit amid short-term rental legislation
Regulations that ban whole-home rentals in most of New Orleans’ French Quarter have “really screwed up” the area’s condo market, Patrick Knudson, broker at Dorian Bennett Sotheby’s International Realty, told the Financial Times. The regulations have resulted in price chops in the area. But in other parts of New Orleans, prices are actually rising. An eight-bedroom home seeking $9.25 million is the French Quarter’s priciest listing right now, according to the outlet. [TRD]

Bottega Veneta Launches 2 Instantly-Classic New Handbag Designs

Bottega Veneta Launches 2 Instantly-Classic New Handbag Designs

Just in time for spring, Bottega Veneta launches new handbag designs under the creative direction of Daniel Lee.

While other brands have relied heavily on logomania, Bottega Veneta has always…

Arrestan a dos hombres en el Aeropuerto Internacional de Miami tras intentar entrar con tarjetas de crédito robadas

Arrestan a dos hombres en el Aeropuerto Internacional de Miami tras intentar entrar con tarjetas de crédito robadas

Lo que traían en el equipaje asombro a las autoridades del Aeropuerto Internacional de Miami.

Los dos sospechosos llegaron en un vuelo desde Portugal al pasar por la aduana las autoridades descubrieron que en sus equipajes traían algo mas que regalos.

Victor Cantuario y Ricardo Oliveira fueron dos pasajeros mas de un vuelo que llego desde Portugal a Miami hasta que las autoridades encontraron que viajaban con decenas de tarjetas de crédito con información robada y equipos diseñados para el robo de información. Hoy los dos sospechosos comparecieron ante una jueza de fianza.

Según la orden de arresto a Oliveira las autoridades le encontraron dentro de un radio un dispositivo de los que se usan para robar información en los ATM, además de una memoria flash con mas de 60 tarjetas de crédito clonadas. En el equipaje de mano de olivera las autoridades hallaron un equipo casero para adaptarlo a los cajeros automáticos y siete tarjetas de regalo con códigos robados.

En la billetera de Cantuario la policía encontró al menos dos tarjetas de crédito falsas. El acusado Oliveira tiene múltiples ordenes de detención. Ambos esta noche continúan en la cárcel del condado.



Fuente: América te ve


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Venezuela opposition leader spurs renewed interest among SoFla real estate investors amid turmoil

Venezuela opposition leader spurs renewed interest among SoFla real estate investors amid turmoil

Nicolas Maduro and Juan Guaido (Credit: Wikipedia and Google Maps)

As Venezuela descended into economic turmoil in recent years, real estate values plummeted and investors looked elsewhere, including to South Florida. Eventually, that too dried up, as the government’s grip tightened and the country grew more isolated. Now, as Venezuela’s opposition leader vies for control amid a humanitarian crisis, some of those investors are turning their attention back to the country, sensing or hoping for a light at the end of the tunnel.

Venezuela’s opposition leader Juan Guaido — backed by the U.S. and dozens of other countries — “has invigorated a lot of interest in Venezuela,” said Craig Studnicky, principal and co-founder of ISG Miami. “A lot of Venezuelans [in South Florida] are lining up to do cheap real estate deals in Venezuela.”

Vicky Fulup, senior counsel in the Miami office of Holland & Knight, said her Venezuelan friends who listed their homes for sale before leaving the country in recent years, hadn’t gotten any offers — until recently. In the last few weeks, she said, “the brokers have been calling them like crazy.” The real estate movement, she said, “has been incredible in the last two weeks.”

A change in Venezuela’s regime could benefit the country’s real estate market and eventually bring Venezuelan buyers back to Miami, local industry pros said.

But now, most Venezuelans struggle to pay for basic items as inflation soars. On Friday, President Nicolas Maduro shut the border to Brazil and said he may also close the border to Colombia to block incoming aid.

Over the last three years, more than 3 million people have fled the country, according to United Nations estimates. Over the same period, foreign investment from South America into the U.S. has largely dropped off.

Between 2012 and 2015, condo buyers from Venezuela represented roughly 25 percent of Latin American real estate sales in Miami, Studnicky said. Now, that figure is essentially down to 1 percent, he said.

Several brokers say it will be a long time before Venezuelan nationals are again buying real estate in Miami.

Sergio Pintos, who has worked for ISG Miami and Property Markets Group, believes it will be another two to three years before the country begins to improve. Most of the major real estate brokers left Venezuela in recent years, he said, and are no longer doing business in their home country or in Miami. Even if conditions improve quickly, most Venezuelans don’t have enough wealth to buy property, and those who do, he said, have ties to the Maduro government.

But Fulup, who was born and raised in Venezuela, is more optimistic. Once the oil and gas sector reactivates, she said, real estate, hospitality and other industries will follow. Despite the chaos, Fulup added, property values are already rising. Fulup is now part of a new group at her firm, made up of 20 partners working with clients with interests in Venezuela. The group’s expertise lies in real estate and hospitality, sanctions and trade, corporate and tax, international disputes and energy and natural resources.

“Even though people left in massive numbers, they always kept a foot firmly grounded in Venezuela. They kept their businesses, they kept their residences,” she said. Those who remained and who have the means, “will definitely be at the forefront when things change and pick up.”

Alicia Cervera of Cervera Real Estate expects that a change in government would create wealth in Venezuela that would eventually arrive in Miami. Most wealthy Venezuelans have already moved their money out of their home country, she said. And while some are still buying in Miami, Cervera said, the number is not “as much as we would like to see.”

But like other Latin American countries that faced political and economic instability, and whose investors returned to South Florida, Cervera said the same will happen in Venezuela.

“Colombia is back, Brazil is back, Mexico is here. … The bottom line is that Miami tends to win when there’s a good turn in the politics and Miami tends to win when there’s a problem,” Cervera said.

Zillow revenues are up, but losses are widening as it pivots to home-flipping

Zillow revenues are up, but losses are widening as it pivots to home-flipping

Earnings report comes as Spencer Rascoff steps aside as CEO

Spencer Rascoff and Richard Barton (Credit: iStock)

New Zillow CEO Rich Barton is shooting for the moon, but the company’s latest financials might have him crashing down to earth.

On the same day that Spencer Rascoff stepped aside as CEO, Zillow disclosed in an earnings report that it collected a record $1.33 billion in revenue last year, a 24 percent gain over 2017. But the Seattle-based real estate tech firm also racked up a net loss of $120 million in 2018, well above the $94 million loss in 2017.

It also suffered setbacks to its primary revenue stream, the advertising program Premier Agent, and saw its stock drop more than 25 percent in value year over year.

On the earnings call, new CEO Rich Barton acknowledged that 2018 was a volatile year for the company, as Zillow shifted from a housing search website to focusing on purchasing and flipping properties.

“Zillow is a very different company from where we started the year,” Barton told investors. “We are really in the process of remaking Zillow Group right now and formulating a new mission, one where we’re looking at the sky, we’re looking at the moon and saying: we want to walk on that thing.”

True to the lofty language, the company aims to massively expand its home-buying arm Zillow Offers to 14 markets by the end of 2019, with a projected annual revenue of $20 billion within five years. Still, it disclosed that its profit margins in the fourth quarter were tiny. Zillow made an average of just $1,723 (0.5 percent) per home sold in the fourth quarter (it posted better results earlier in the year).

If Zillow Offers is the future of the company, Premier Agent is very much the present. The advertising program again accounted for the bulk of Zillow’s profits. It was responsible for about $898 million in revenue in 2018, an 18 percent uptick from the year prior. But changes to the program — which agents said reduced the number of leads — resulted in increased cancelations.

“These changes have been well-received and the churn rate has started to return to historical norms as conversion and transaction rates are growing,” the company said in its earnings statement. “However, the mid-year challenges led to a projected cumulative annual recurring revenue shortfall in Premier Agent revenue entering 2019, or an estimated 6 month sell-through gap to close.”

Zillow projects Premier Agent to bring in between $905 million and $930 million in 2019.

In his call with investors, Barton said the leadership transition from Rascoff was a smooth one.

“We’ve collectively decided it’s time to turn our leadership triangle on its side and shuffle our seats.”

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