January 27, 2016
In an effort to discover money being laundered through Miami and New York luxury real estate, the U.S. Treasury Department will soon start tracking all-cash transactions made through limited liability corporations that mask buyers' identities. The initiative will run from March through August and will affect real estate deals starting at 1 million dollars in Miami-Dade County.
January 26, 2016
Foundation work started at the future site of Residences by Armani/Casa in Sunny Isles Beach. A joint collaboration between Related Group and Dezer Development, the 60-story building will be the first Armani tower in the world. Construction on the oceanfront development is expected to cost 1 billion dollars, which will be Related Group's most costly project ever built.
January 20, 2016
Turnberry Ocean Club in Sunny Isles Beach boasted 200 million dollars in pre-construction sales at the end of 2015. The 54-story, oceanfront tower will offer 154 exclusive condominiums, including a recently released collection of stunning duplex residences priced from 19.5 million dollars.
January 19, 2016
Construction has begun on Eighty Seven Park in Miami Beach's North Beach neighborhood after a 91 million-dollar construction loan was secured for the highly anticipated oceanfront tower. Designed by Pritzker Prize-winning architect Renzo Piano, Eighty Seven Park will rise 18 stories and contain just 70 ultra-luxury condominiums.
January 14, 2016
The U.S. Treasury Department is starting an initiative to track and identify secret buyers of luxury real estate in both Miami-Dade County and New York City. The initiative aims to target all-cash purchases made by L.L.C.s that mask buyers' identities. It's the first time the government has required real estate companies to give names behind all-cash transactions, and it is being done in an effort to focus more on money laundering in real estate.
January 12, 2016
The developers of Miami Worldcenter in Downtown Miami replaced plans for a huge, enclosed mall with a smaller, open-air shopping promenade. The pedestrian-friendly, high street-style mall will fit in better with Miami Worldcenter's urban setting. The redesign will not delay the original scheduled completion date of 2018
January 8, 2016
New renderings of the lavish penthouses at SLS Lux in Downtown Miami have been revealed. The exclusive collection includes 14 penthouse residences, with 8 still available for purchase. The SLS Lux penthouses feature sweeping views of the Miami skyline and Biscayne Bay, Smart technology and home automation, an array of fine finished selected by interior designer Yabu Pushelberg and 12-foot ceilings. Select residences will also offer private rooftop pools and outdoor spas.
January 5, 2016
The South Florida real estate market saw home values grow by 61.4 billion dollars in 2015. The total value of all single-family homes, townhouses and condos in Miami-Dade, Broward and Palm Beach counties grew by 9 percent to 773 billion dollars, according to Zillow. This value has grown steadily since 2011.
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