Related offers two-year leaseback option at W Fort Lauderdale

Stephen Ross, Craig Studnicky and the W Fort Lauderdale
RelatedISG is now offering buyers a two-year leaseback option for units at the W Residences Fort Lauderdale.
The program is aimed at attracting buyers to the waterfront Fort Lauderdale Beach condo-hotel. The developer, Related Companies, paid $90 million for the project from the Y Group in 2009 after it was completed. The Y Group had sold 24 of 171 units at the time. Since then, Related sold 65 units, according to RelatedISG principal Craig Studnicky. That brings sales up to 50 percent.
Studnicky hopes the program will give buyers confidence in the development. “Psychologically, it takes the nervousness away from the buyer,” he said. “It gives the buyers and real estate brokers in South Florida tremendous confidence in the market. From a PR standpoint, it’s perfect.”
Under the leaseback program, buyers would receive 8 percent of the net purchase price on some two-bedroom, oceanfront units for two years. Prices range from $900,000 to more than $1 million, which means buyers would receive at least $72,000 annually for two years. After Related signs leaseback agreements with buyers, it then turns the units over to Starwood Hotels & Resorts to manage.
In the past, RelatedISG has offered to credit the project’s buyers’ condo fees, which average $1,400 a month or nearly $17,000 a year, but Studnicky said the new program “trumps everything.” Last year, the brokerage announced it was offering 6 percent referral fees to agents from New York in a push to attract buyers from the Big Apple.
Sales are led by Rebecca Batterman, who has four agents working on the project.
Related is also wrapping up a $60 million renovation of the project, led by Meyer Davis Studio.
Last year, the Related Group and Dezer Development announced a similar leaseback program to buyers at Hyde Midtown, which is now nearly 90 percent sold.

Source: The Real Deal Miami

Another hotel owner is trying to drop the Trump brand

From TRD New York: Owners of a luxury hotel in Panama want to shed the Trump brand as room rates, according to some, plummet.
The Trump International Hotel in Panama City is legally required to hold onto the Trump brand, representatives from the Trump Organization told Bloomberg. The Associated Press reported that the hotel’s owners were attempting to drop the brand, marking the third time a hotel has tried to do so this year.
“Not only do we have a valid, binding and enforceable long-term management agreement, but any suggestion that the hotel is not performing up to expectations is belied by the actual facts,” the Trump Organization said in a statement. The company said the hotel has outperformed the market in the past three years. In September, the hotel did 37 percent better than competitors, the Trump Organization claimed.
But London-based FairFx found that room rates at the Panama hotel have dropped 32 percent since President Trump’s inauguration.
Last week, the New York Times reported that the Trump Organization signed a deal with Trump Soho’s owner, CIM Group, to drop its licensing agreement and remove its name from the property. In June, a hotel owner in Toronto reached a similar agreement to drop the brand from the Trump International Hotel & Tower in downtown Toronto. [Bloomberg] — Kathryn Brenzel 

Source: The Real Deal Miami

Acoso sexual: Ahora le tocó a NBC, ¡sacaron a Matt Lauer de Today!

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Source: Miami Diario

¡Susto! Misil norcoreano puede llegar a cualquier lugar de EEUU (+ fotos y videos)

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Source: Miami Diario

9 Products to Get Your Face Red-Carpet Ready This Holiday Season

Get yourself red-carpet ready for your next holiday soirée by incorporating these must-have products into your beauty routine. The results will leave you looking fabulous and flawless!…
Source: Ocean Drive

The Jills Discuss Their Start in Real Estate and Future Predictions for the Market

The Jills have been selling billions of dollars’ worth of real estate for decades. But now more than ever they are on top of the game, listing some of the most prestigious properties in all of…
Source: Ocean Drive

Asesino en serie de Tampa: "Terminó la cacería"

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Source: Miami Diario

Mast Capital proposes major mixed-use development along Miami River

Miami River project and Camilo Miguel Jr.
Mast Capital wants to get in on the Miami River action.
The Miami Beach-based developer is proposing to build a massive mixed-use project on a riverfront site at 1001 Northwest Seventh Street, according to documents filed with the Miami River Commission. As planned, it would have nearly 700 residential units, 800 parking spaces and commercial and retail space on the ground level.
Records show Rad Miami River Phase I LLC owns the 6.31-acre development site, which has more than 1,000 feet of river frontage. The company, controlled by Edwin and Heidi Verdezoto, hit the market in 2015. In 2003, Edwin Verdezoto of Royal Atlantic Developers submitted plans for a mixed-use project on the site. It’s zoned T6-8-O.
Mast Capital is under contract to buy the property, according to a letter from CEO Camilo Miguel Jr. to the Miami River Commission. Miguel could not immediately be reached for comment.
The developer would also make improvements to the public riverwalk component of the land, according to a letter submitted by Greenberg Traurig attorney Iris Escarra.
Other planned development along the river includes KAR Properties’ luxury condo project One River Point, a $1 billion mixed-use project by the Chetrit Group and JDS Development Group, and Andrew Hellinger’s River Landing, a mixed-use apartment and retail complex.

Source: The Real Deal Miami

WeWork to acquire social networking company Meetup

From left: Meetup’s Scott Heiferman and WeWork’s Adam Neumann (Credit: Meetup and WeWork)
From TRD New York: WeWork is acquiring Meetup, a social network that connects people who want to meet up and pursue a common hobby.
The acquisition is another step in the co-working company’s planned transformation into a “physical social network” active in a broad range of community-centric real estate and software ventures. “It’s like a magical puzzle that fits together,” Meetup’s co-founder Scott Heiferman told the New York Times.
Meetup facilitates around 15,000 meetings per day, according to the firm, and around 100,000 of them have taken place in WeWork spaces to-date. According to Heiferman, Meetup will continue to operate as-is, but may become integrated into WeWork’s offerings the way Instagram is into Facebook’s (where users can link their accounts).
The Times reported that Meetup’s general counsel David Pashman was friendly with an unnamed WeWork executive, and that the first meeting between Heiferman and WeWork co-founder Adam Neumann took place in August.
Last week, news broke that WeWork invested in the women-only co-working company The Wing, which took in a total of $32 million in a Series B funding round. And in October, WeWork acquired the coding bootcamp Flatiron School. As The Real Deal exclusively reported last week, WeWork is working on a push into retail. It’s also reportedly considering raising hundreds of millions in additional funding on the Israeli bond market.  [NYT] — Konrad Putzier

Source: The Real Deal Miami