Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to firstname.lastname@example.org
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The Sackler family is behind a nearly $7 million sale of a downtown West Palm Beach office building purchased this summer. The Sacklers, owner of OxyContin-maker Purdue Pharma, purchased the Glidden Spina + Partners building in July, the Palm Beach Post reported, less than two months before Purdue Pharma filed Chapter 11 bankruptcy protection amid thousands of opioid lawsuits. [Palm Beach Post]
The Miami Heat’s former star player Dwyane Wade wants to complete one last sale in Miami Beach. Wade, who retired from the NBA this year, listed his home at 5980 North Bay Road for $32.5 million, according to the Wall Street Journal. Wade and his wife, actress Gabrielle Union, are now based in Los Angeles. [TRD]
A trillionaire, prime minister of Israel and president of the world. Those are all the things WeWork founder and CEO Adam Neumann has said he wants to be, according to a new profile of a leader who is struggling to take his company public. [WSJ]
Miami home sales fell 13 percent in August, adding to mounting signs that Miami’s housing market is cooling down. Closed sales fell to 3,493, compared to 4,034 sales in August 2018, according to the report by RE/MAX. [TRD]
Compass’ top communications executive is out. Jason Post, who joined the brokerage nine months ago, will depart as the company mulls plans for an IPO. Post previously worked for Uber and the Bloomberg administration. [TRD]
A Miami real estate agent is challenging the time-honored notion of agents as independent contractors with a lawsuit that seeks class action status.
Former Cervera Real Estate agent Beatriz Santamaria is suing the Miami brokerage for allegedly misclassifying salespeople as independent contractors and violating minimum wage and overtime provisions of the Fair Labor Standards Act. [TRD]
Time Warner’s general counsel wants $15 million for his Miami Beach mansion. Time Warner executive Paul Cappuccio, who was set to receive $26.7 million as a result of the merger with AT&T, listed the seven-bedroom, 7,167-square-foot home at 27 East Dilido Drive in the Venetian Islands. Julian Johnston, who recently joined the Corcoran Group, has the listing, according to the MLS.
A Brickell condo association will have to pony up a $300,000 settlement for overcharging residents extra fees when they applied to rent a unit. Miami couple Joshua and Allison Kobasky filed the class-action lawsuit against the The Plaza 851 Brickell Condominium Association after it required they fork over $250 more than what is legally allowed in Florida, according to the Miami Herald. Nearly 600 people were eligible to participate in the class action, and each person who did will receive $250. [Miami Herald]
A private company that acquired a piece of a Hollywood park wants Broward County to pay $500,000 to buy the land, or pay $6,000 a month in rent. A lack of communication between the county and its parks department is what allowed the $25,000 sale to happen, according to the Sun Sentinel. Broward County’s tax division put the land up for auction after the previous owner failed to pay their taxes. [Sun Sentinel]
Compiled by Katherine Kallergis