Vacant Miami parcel sold through bankruptcy court

February 17, 2014 01:00PM

                                         

Renzo Renzi and John Crotty

The final property from Miami developer Renzo Renzi’s crumbled empire has been auctioned off for $4.2 million, The Real Deal has learned.
RBC Acquisitions Group won last week’s bankruptcy auction of a vacant Miami property previously owned by a Renzi-managed company, according to bankruptcy court records. The buyer of the 1.3-acre property at 3170 Southwest 22nd Street is tied to Coral Gables-based BF Group LLC. The property’s zoning allows for residential, hospitality, office and other forms of commercial development.
The Blue on Coral Way, which was managed by Renzi, paid $1.7 million for the property in 2002. The company was unable to develop the land before the real estate downturn. It lost an $18.2 million foreclosure judgment for that property and a Brickell-area site in December 2012.
Colliers International South Florida executive vice president and partner John Crotty marketed the property to potential bidders. — Eric Kalis

For more information on real estate in South Florida please call EWM real estate agent Debbie Lazoff 305.903.0118, debbielazoff@Gmail.com, www.debbielazoff.com

 

Jimmy Buffett-themed resort set to open in July 2015

              

                 

Margaritaville rendering

The Jimmy Buffett-themed Margaritaville Hollywood Beach Resort remains on track for a July 2015 opening.
Construction of the $147 million resort on five city-owned acres at Johnson Street and A1A has progressed to the fifth floor, the Sun-Sentinel reported. Developer Lon Tabatchnick said the project is on schedule and within budget following the first six months of construction.
Plans for the 349 room resort include seven restaurants and bars, oceanside pools, a wave ride and 35,000 square feet of convention facilities.
Some neighbors, including the adjacent Beach Market store, have complained about a loss of customers since Margaritaville construction began. The Johnson Street parking garage was closed before the project’s groundbreaking, which eliminated 700 spaces frequently used by Hollywood Beach visitors. — Eric Kalis

For more information on South Florida real estate please contact
Debbie Lazoff at 305.903.0118, DEBBIELAZOFF@GMAIL.COM
www.debbielazoff.com

Bal Harbour Shops boasts record sales in 2013

 

Dolce & Gabbana, Prada highlight group of expanding tenants at mall

              
                   

               

Stanley Whitman

The Whitman family enjoyed a record sales year at their high-end Bal Harbour Shops.
Average sales at the retail hub rose 7.4 percent from 2012 to 2013, South Florida Business Journal reported. The shops generated an average of $2,800 per square foot in sales last year. Numerous tenants, including Dolce & Gabbana and Prada, took the opportunity to expand in 2013.
“Our specialty department store category, comprised of Neiman Marcus and Saks Fifth Avenue, was up solid double digits for the year, as was our restaurant category,” Bal Harbour Shops operating partner Matthew Whitman Lazenby told the Journal.
The 6,400-square-foot Grill at Bal Harbour restaurant is set to open soon at the mall.
Bal Harbour Shops founder Stanley Whitman TURNED 95 in November. — Eric Kalis

For information on Miami real estate please call Debbie Lazoff at 305.903.0118
debbielazoff@gmail.com
www.debbielazoff.com

EWM is #1 in both total number of units sold and dollar volume of units sold

Company is #1 in both total number of units sold and dollar volume of units sold

 

 

MIAMI (January 31,  2014) – The year 2013 was a watershed year for million-dollar plus properties in Miami-Dade County, and EWM Realty International, one of the largest real estate services firms in America, and a South Florida exclusive affiliate of Christie’s International Real Estate, was at the forefront of the expansive growth.

The 50-year residential real estate brokerage firm was number one in Miami-Dade County once again last year for the total number of million-dollar-plus residences sold, as well as total dollar volume.

            According to data from the Southeast Florida Regional Multiple Listing Service (MLS), EWM had a total of 420 single-family home and condo sales in excess of $1 million for the period of January 1 – December 31, 2013, reflecting $900 million in total sales. That number is 26% higher than its next closest competitor who had 334. The remaining top five brokers had a total of 295, 162 and 96 sales, respectively.

            “The sale of million dollar-plus homes and condos grew by 27% in 2013 vs. 2012, “ said EWM President & CEO Ron Shuffield.  “The ongoing impact of the international buyer, evolving markets such as China, and a sharp increase in the number of buyers from the northeast, continued to further South Florida’s appeal as a truly global market.”

            “Miami-Dade’s million-dollar plus market has been rapidly evolving,” continues Shuffield. “With exponential growth of art and cultural offerings, the region has hit its stride in the global residential real estate arena.”

A recent report from Christie’s International Real Estate, titled ‘Atlantic Insights,’ includes Miami with New York and London as three of the most vibrant world cities currently attracting the globally affluent buyer. 

            In the period 2003 to 2013, the number of million dollar-plus homes and condominiums that have been sold in Miami-Dade has grown three-fold, from 628 annual sales at year-end 2003, to 1,918 at year end 2013.

            As to the 2013 Top Broker Rankings for million dollar plus homes and condos sold in Miami-Dade County, they are as follows: 

 

Rank	Broker	Total  Units Sold in 2013
1	E WM Realty International	420
2	CB Residential Real Estate	334
3	One Sotheby’s Int’l Realty	295
4	Fortune Int’l Real Estate	162
5	Douglas Elliman Real Estate	96

 

“Our affiliation with Christie’s International Real Estate continues to help expose Miami to the global marketplace,” concludes Shuffield.  “Potential buyers from around the globe are consistently viewing our listings, furthering this area’s appeal.”

#    #   #

 

About EWM

Founded in 1964, EWM Realty International (EWM) is one of the largest real estate services firms in America. The full-service firm has 10 locations spread through Miami-Dade and Broward counties. EWM’s 800 associates and staff members offer residential and commercial real estate services, corporate relocation, and international services, as well as home mortgage and title closing services through affiliated companies HomeServices Lending, LLC and Columbia Title of Florida. EWM’s annual sales volume exceeds $2.6 billion.

EWM is the exclusive Miami-Dade and Broward Counties affiliate for Christie’s International Real Estate (CIRE), the leading and largest network of luxury, independent, real estate firms in the world, and a subsidiary of Christie's International PLC, the London-based art auction company founded in 1766.  With more than 25,000 real estate professionals operating from 41 countries, the affiliate members of Christie’s market the finest residences around the globe. EWM was named  the “2012 Global Affiliate of the Year” for the Christie’s Network of luxury brokerages worldwide. 

In addition to Christie’s, EWM is one of the principal owners of the Leading Real Estate Companies of the World (Leading RE), the nation’s largest real estate referral network, comprising more than 500 real estate firms and 140,000 associates marketing residential properties in 30 countries.  Through joint alliances with their member firms, Leading RE provides home buying and selling services to families and individuals relocating throughout the world. EWM is also a member of the luxury division of Leading RE, Luxury Portfolio, which is a collection of 200 firms focused on the marketing of luxury properties throughout 28 countries.

EWM is a wholly owned subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate.  HomeServices is the second-largest full-service independent residential real estate brokerage firm, and the largest real estate settlement services provider, in the U.S.  Through its affiliation with HomeServices of America, EWM is part of a real estate family of 20,000 sales associates spanning 21 states.  For additional information, visit www.ewm.com.

 

Please contact Debbie Lazoff at 305.903.0118, debbielazoff@gmail.com for all of your real estate needs.

 

 

 

Echo Brickell developer slashes maintenance fees

Echo Brickell developer slashes maintenance fees

Art Basel productive for Miami real estate players

Faena House penthouse exterior rendering and Aria Development Group principals at 321 Ocean site

From Brickell to North Miami, developers, brokers and other real estate players strategically positioned themselves to capture attention from Art Basel Miami Beach patrons.
More than 20 real estate events were held throughout Miami-Dade County during Art Basel week. The annual show brings tens of thousands of wealthy art collectors and other tourists to the county to kick off South Florida’s busy winter season. Those pushing new residential development and existing buildings in the area capitalized on the select marketing opportunity last week.
Signs indicate the efforts will pay off.
Aria Development Group took a big step toward selling out the remaining five units at its luxury 321 Ocean project in Miami Beach’s South of Fifth neighborhood. Moments before sitting down for an interview with The Real Deal at Aria’s VIP lounge on Friday, Aria principal David Arditi received a verbal offer from an undisclosed buyer for two 321 Ocean units. Aria set up the lounge at Milo’s Restaurant to engage potential buyers during Art Basel and promote the $25 million penthouse at 321 Ocean, which has been under construction since October.
“Art Basel shines a terrific spotlight on the city,” Arditi said. “We are trying to brand ourselves as a company. This is a good opportunity to do that.”
Further north, Argentinian developer Alan Faena used Art Basel week to pull back the curtain on his potentially transformative Faena Miami Beach mixed-use project, planned for several blocks along Collins Avenue. Faena started with an exclusive dinner at the Faena Collaboratory, which includes the sales center for the 47-unit Faena House.
During the A-list dinner, acclaimed director Baz Luhrmann and Academy Award-winning wife Catherine Martin mingled with real estate heavyweights like New York’s Robert Futterman. Luhrmann and Martin are collaborating with Faena to reposition the former Saxony Hotel at 3201 Collins Avenue.
Faena also hosted daily invite-only asados, or Argentinian barbeques, at the development site.
“We use Art Basel to make a big sales push,” Douglas Elliman broker Erik Schneider told The Real Deal. Schneider is handling sales at Faena House.
“We spent months putting together the guest list,” he said. Dinner guests included “people who partnered with us, potential buyers and people in the art world.”
Faena was one of numerous Miami and New York projects promoted by Douglas Elliman during Thursday night’s event at the VIP Collectors Lounge inside the Miami Beach Convention Center. That gave the firm a chance to tout its “penthouse collection” to the ultra-wealthy. Several Russian brokers and potential buyers chatted with Elliman chairman Howard Lorber and other company executives while perusing marketing materials for the developments.
EWM Realty and affiliates at Christie’s International Real Estate also took the VIP event route for Art Basel. The companies sponsored Art Miami 2013 in Midtown Miami and hosted an invite-only reception in the middle of the fair, which featured works from 190 art galleries. Many power brokers showed up for Friday’s reception, including Miami Beach-based Esther Percal and prominent Beverly Hills agent Jeff Hyland, whose artist wife Lori had her work on display nearby.
With the latest Art Basel week concluded, South Florida’s real estate professionals shift focus to converting the leads generated during the event into completed sales.By Eric Kalis      

For more information on South Florida Real estate please contact Debbie Lazoff at debbielazoff@gmail.com or 305.903.0118. www.debbielazoff.com     

Art Miami Fair Helps Luxury-Home Brokers Connect with Potential Buyers

    

Art Miami has lined up sponsors including Maserati and Christie’s International Real Estate, which signed on last year. Christie’s is also an Art Wynwood sponsor, and an affiliate broker was a sponsor of Art Southampton this summer.
Ron Shuffield, president of EWM Realty International/Christie’s, which has offices throughout South Florida, said the fair helps brokers of luxury homes connect with the right crowds.
“We know that some of our customers will meet us there because they come with the intention of buying,” he said. “We’ll have further discussion then, we’ll look at properties while they’re here. For people kind of casually strolling through, many of those are just building relationships.”
Christie’s clients also provide a boost to the fair, Shuffield said. He recalled a home buyer who attended an Art Miami cocktail reception.
“While he was at the fair, he bought a little sculpture; I can’t remember how much it was, but it was over a million dollars,” Shuffield said. “There is so much wealth coming to Miami now, it’s sometimes hard to grasp how quickly this is happening.”
And Korniloff believes that the market could have room for more venues to sell art.
“We feel that the South Florida market has some other opportunities; the question is timing,” Korniloff said. “This business is still in a growth mode.”

Read more here: http://www.miamiherald.com/2013/12/01/v-fullstory/3787889/under-nick-korniloff-art-miami.html#storylink=cpy