You’ve heard of cryptocurrency, artificial intelligence and virtual reality, but how about crypto fashion?
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En el último día del Workday Championship en The Concession en Bradenton, Florida, los golfistas de la PGA (y fanáticos al azar en todas partes) se vistieron de rojo y negro, habituales colores de Tiger Woods, para honrar a la leyenda del golf. Woods se está recuperando de una fuerte cirugía en sus piernas tras […]
La entrada Golfistas se vistieron de rojo en apoyo a Tiger Woods +fotos se publicó primero en Miami Diario.
Global luxury home sale prices ticked up slightly in 2020, as pent-up demand created by coronavirus lockdowns led to buying binges.
The average price for a luxury home that sold rose 1.9 percent in 2020, compared to its 1.8 percent increase in 2019, according to Knight Frank’s Prime International Residential Index 100, cited by Mansion Global.
While 29 of the 100 markets in the index reported year-over-year price declines — compared to 21 in 2019 — there were five markets that recorded double-digit percentage increases compared to two in 2019.
Among those were Auckland, New Zealand, which saw the most significant jump in luxury home sale prices at 18 percent. Shenzhen, China, had a 13 percent rise; Seoul, South Korea, had a 12 percent jump; and Manila in the Philippines saw a 10 percent uptick.
The analysis also looked at regional luxury price changes. Among the largest increases were North America, which had a 6.3 percent price rise and Australasia — comprising Australia, New Zealand and neighbouring islands — which saw a 4.9 percent jump.
Plenty of cities around the globe also saw declines in high-end property sales. Cape Town saw a 9.2 percent slide, while Bangkok home sale prices dropped 7.3 percent and Hong Kong prices fell 6.9 percent, according to Knight Frank.
In the U.S., overall home sale prices in December rose 10.4 percent year-over-year, according to a report released last week by Case-Shiller. That followed seven straight months of growth after Covid-related restrictions on real estate business.
The pandemic and the proliferation of remote working spurred buying in suburban and rural areas in the U.S., while bottoming out in urban markets like New York. But those, too, have shown signs of recovery lately, with home prices increasing 15 percent in metros in the three months ending in January.
[MG] — Dennis Lynch
Morgan Properties and Olayan America have purchased a portfolio of 48 U.S. multifamily properties for $1.75 billion.
The seller was STAR Real Estate Ventures, a joint venture of El-Ad National Properties LLC and Yellowstone Portfolio Trust, according to a press release from Morgan and Olayan. It is Morgan’s largest acquisition since the Pennsylvania-based firm bought 95 multifamily properties for $1.9 billion two years ago.
The 48 properties have 14,414 units, including 2,566 outside Baltimore and 1,972 in the Tampa-St. Petersburg area.
The portfolio spans 11 states, including six where Morgan already owns multifamily properties: North Carolina, South Carolina, Illinois, Ohio and Maryland. The portfolio deal marks Morgan’s first acquisitions in Florida, Texas, Georgia, Louisiana and Michigan.
Morgan and Olayan plan to spend about $100 million on renovations and upgrades to the properties, the average age of which is 35 years.
Morgan Properties plans to open a regional office in Boca Raton, Florida, to help manage the portfolio. The acquisition also saw Morgan bring on 400 employees and create around 70 new corporate positions.
STAR Real Estate Ventures joins other multifamily landlords in offloading holdings recently. Radco has sold more than half of the 59 multifamily properties it has purchased over the last decade in order to build up some cash for what CEO Norman Radrow last fall called “a new and interesting cycle that will be coming next year.”
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Con el fin de celebrar el Mes de la Historia Negra, el astronauta de la NASA Victor Glover sostuvo una charla virtual con la vicepresidenta de EEUU Kamala Harris desde la Estación Espacial Internacional, reportó Durante la conversación, Harris indicó lo siguiente: “Nos inspiras y nos recuerdas lo que es posible cuando soñamos en grande y […]
La entrada Vicepresidenta Harris conversó con el astronauta Victor Glover se publicó primero en Miami Diario.
A Tokyo skyscraper under construction and set to become the tallest tower in Japan will include Aman Resorts-branded luxury residences that could top $40 million each.
Mori Building Company’s 1,082-foot-tall tower in Minato Ward will have 91 units on floors 54 through 64, according to the Japan Times.
The residences will be operated by luxury hotel company Aman Resorts and called the Aman Residences, Tokyo.
Branded residences have grown in popularity over the last several years, with some major firms making plays in the space. As of late 2019, more than 400 residential projects worldwide were branded in some way. Four Seasons launched into standalone branded condo projects that year.
For the Tokyo project, Mori Building Co. hasn’t disclosed the name of the tower but services will include a residents-only spa, among other amenities. One unit could cost at least several billion yen — in the $40 million to $50 million range — according to the report.
But Mori Building Co.’s tower may not be the tallest in Japan for long. Real estate firm Mitsubishi Estate is planning a 1,279-foot-tall skyscraper in Toyko’s Tokiwabashi district. The firm announced that project in 2016 but only last year revealed details.
[JT] — Dennis Lynch
The post Japan’s tallest tower project will include Aman Resorts luxury residences appeared first on The Real Deal South Florida.
Attention shoppers: Century 21 is coming back.
The New York-based discount retail chain that built a loyal following but folded after declaring bankruptcy in September, announced its planned return last week.
In a statement on Tuesday, Century 21 Stores said the decision to relaunch came “in response to the outpouring of love from the Big Apple and the admiration” of their “loyal shoppers from around the world.”
The announcement was light on details, but the company said it would open its first store in South Korea this year. News about its New York and nationwide relaunch will follow in the coming weeks, the statement said.
The Gindi family, which started the brand in Bay Ridge, Brooklyn, in 1961, bought back the intellectual property at a bankruptcy auction in the fall.
The pandemic slammed into then upended the retail industry, forcing stores like Century 21 to shutter their locations nationwide. Retailers fell far behind on rent payments, with many shedding stores, and some declaring bankruptcy or getting acquired. When Century 21 filed for Chapter 11, it said it was forced to do so after insurers declined its business interruption insurance claims.
Last month, the retailer hired Marc Benitez as its president. Benitez spent nearly 14 years with the luxury goods brand Coach, and over three years with Kenneth Cole Productions. He also spent time as a vice president at Authentic Brands Group and CAA-GBG Global Brands Management Group. Benitez was a general manager at Century 21 from 1998 to 2001.
The Gindis weathered a tumultuous 2020. Two months after Century 21 declared bankruptcy, developer Ben Ashkenazy sued the family, claiming it diverted money from him and damaged his reputation. The Gindis have invested in some of Ashkenazy’s commercial properties. The family claims that Ashkenazy stole money from them.
Miami-Dade County resumed executing writs of possessions for residential eviction cases filed before the pandemic, following an unannounced month-long break.
The police execute writs of possession, evicting residents or businesses from their properties. The move follows a final judgment in a court case.
Homeowners with federally backed mortgages are protected from eviction until at least March 31, per a federal moratorium from the U.S. Department of Housing and Urban Development.
On Nov. 13, former Miami-Dade Mayor Carlos Gimenez directed the police department to begin enforcing writs of possession for all cases filed on or before March 12, when the mayor declared a state of emergency. The policy continued under incumbent Mayor Daniella Levine Cava, who took office days after Gimenez’s order.
But by early February, Miami-Dade Police paused the service of writs of possession as the mayor’s office looked to clarify the policy, according to a spokesperson. That temporary change in policy was not announced in writing. The break ended on Thursday, the spokesperson confirmed.
In a court filing dated Feb. 2 for a foreclosure case dating back to 2015, the lender cited an “oral directive” from the mayor that led to the police refusing to execute a writ of possession. That residential borrower, who was foreclosed on, was evicted on Thursday, according to her attorney, David Winker.
In a memo issued on Thursday, the mayor re-stated her policy on evictions. Miami-Dade Police will also remove non-tenants who are identified as squatters.
Earlier this month, the Miami-Dade County Commission approved Levine Cava’s $60 million relief program for residential landlords with pending writs of possession for tenants facing eviction. The program offers landlords back rent of up to $3,000 per month. At that press conference, Michael Liu, Miami-Dade’s public housing director, said the courts had issued up to 1,700 writs of possession which would be prioritized.
According to Miami-Dade Police, the department executed two commercial and nine residential writs of possession on Thursday. From Nov. 12 until Thursday, 324 writs of possession have been executed.
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