• Real Estate Investing,  Travel & Lifestyle

    Compass doesn’t want a jury trial in the Avi Dorfman case

    Compass’ Robert Reffkin and Avi Dorfman (Credit: Facebook, iStock) Compass is appealing a decision by a New York judge who ordered a jury trial for Avi Dorfman, an entrepreneur who is suing to be recognized as a co-founder of the firm. In an Oct. 1 ruling, Supreme Court Judge Andrea Masley rejected Compass’ motion for summary judgement and said Dorfman is entitled to a trial. “The record is clear that they exchanged, among other things, emails that set forth offers and counteroffers as to how Dorfman would be compensated as a ‘founding team member,’” Masley wrote. She ordered a trial date to be set within 30 days. Dorfman sued Compass…

  • Real Estate Investing,  Travel & Lifestyle

    Miami Beach OKs hotel development on Lincoln Road, Bank OZK’s construction lending is up: Daily digest

    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 tips@therealdeal.com This page was last updated at 6:30 p.m.   Miami Beach commission approves hotel development on Lincoln Road. The city commission gave the green light for hotels on the north side of the popular retail street from Pennsylvania and Lenox avenues. The hotels would have to be set back at least 75 feet from Lincoln Road. Sites of at least 30,000 square feet could be developed into hotels with at least 100 rooms.…

  • Real Estate Investing,  Travel & Lifestyle

    Ben Carson talks Opportunity Zones, top developers riff on condos vs. rentals: Daily digest

    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 tips@therealdeal.com This page was last updated at 5:30 p.m.   Secretary of Housing and Urban Development Ben Carson talks Opportunity Zones and… ants. Carson spoke at The Real Deal’s annual Showcase & Forum in Miami’s Mana Wynwood. HUD will give preference to developers and investors who build affordable housing in federal Opportunity Zones when it comes to certain grants. [TRD]   South Florida developers riff on shift from condos to rentals at TRD Miami…

  • Real Estate Investing,  Travel & Lifestyle

    Unrealistic pricing bogs down Miami luxury condo market: TRD Showcase & Forum

    From left: E.B. Solomont, Ron Shuffield, Mike Pappas, Oren Alexander and Phil Gutman (Photos by Daniel Lateulade) The Miami luxury condo market remains in a rut due in part to sellers overpricing properties, according to top residential real estate brokers. “If you look at the market today, even though there has been an increase in prices, there is also an increase in days on the market,” said Oren Alexander, co-founder of Douglas Elliman’s The Alexander Team. “That has a lot to do with bad prices. We have to make sure sellers really understand where pricing is.” Mike Pappas Alexander joined Phil Gutman, president of Brown Harris Stevens Miami; Mike Pappas,…

  • Real Estate Investing,  Travel & Lifestyle

    Home foreclosures dropped nearly 20% in Q3, report shows

    Home foreclosures are dropping (Credit: iStock) There is growing unease about an impending recession, but at least one economic indicator isn’t pointing in that direction. U.S. home foreclosures dropped sharply in the third quarter, with New York City, South Florida and Los Angeles all registering declines. Overall, 143,105 U.S. properties had foreclosure filings from July through September, down from nearly 116,000 over the same period last year, according to an Attom Data Solutions report released Thursday. The numbers include default notices, scheduled auctions or bank repossessions and is at the lowest level since the second quarter of 2005. Foreclosure reports from month to month can be volatile. More broadly, the…

  • Real Estate Investing,  Travel & Lifestyle

    Aston Martin condo tower adds superyacht marina amenity, Sapir wants to sell Edgewater site: Daily digest

    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 tips@therealdeal.com This page was last updated at 6 p.m. Aston Martin Residences will have a superyacht marina. The downtown Miami condo tower, which is under construction, will feature the added amenity of a full-service marina that is 490 feet long with a draft depth of 15 feet. There’s also the Aston Martin Residences butler service, which will take care of everything for boat owners, captains, and their crew. G&G Business Developments is the developer…

  • Real Estate Investing,  Travel & Lifestyle

    Robert Shapiro gets 25 years in prison for massive Ponzi scheme, Compass Florida taps former Facebook exec to lead operations: Daily digest

    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 tips@therealdeal.com This page was last updated at 5:30 p.m.   Robert Shapiro pleaded guilty to leading a $1.3 billion fraud that defrauded over 7,000 real estate investors (Credit: iStock) Robert Shapiro gets 25 years in prison for massive Ponzi scheme. On Tuesday, a federal court judge sentenced Shapiro to that maximum, closing the criminal chapter on what has been a two-year-long saga surrounding the massive fraud perpetrated by Shapiro’s now-defunct Sherman Oaks-based investment firm,…

  • Real Estate Investing,  Travel & Lifestyle

    Compass Florida taps former Facebook exec to lead operations

    Christian Martinez Digital marketing and social media executive Christian Martinez was tapped to be the regional president of Compass Florida. Martinez was previously with Facebook and Univision. Based at Compass’ Miami Beach office, Martinez is focusing on growing the brokerage’s business throughout the state and overseeing its operations. He’s taking over Beth Butler’s role now that she’s been promoted to director of new development for Compass in the Southeast. Martinez is now evaluating what the right strategy is for growth in Florida, but said that it’s “all on the table.” Compass will continue to recruit top agents and teams from other firms, he said. The firm recently brought on longtime…

  • Real Estate Investing,  Travel & Lifestyle

    Saks makes bid for Barneys, Eighty Seven Park will offer a certified botanist: Daily digest

    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 tips@therealdeal.com This page was last updated at 5:30 p.m.   Saks has teamed up with Authentic Brands to bid roughly $270 million for Barneys. Saks, which Hudson’s Bay Company owns, would launch Barneys departments in 41 of its stores, take over the website of the bankrupt retailer and possibly take over some Barneys locations. Barneys had filed for bankruptcy over the summer, and at a court hearing on Friday, a lawyer for the high-end…

  • Real Estate Investing,  Travel & Lifestyle

    Bridge Development nabs $60M loan for Davie industrial project

    Rendering of Bridge Point 595 and Kevin Carroll Bridge Development Partners scored a construction loan from Wells Fargo to build a new industrial complex in Davie. Property records show Bridge 595 LLC closed on a $60.28 million loan for the properties at 2650 and 2700 Bridge Way. There, the Chicago-based firm is planning Bridge Point 595, a development with three industrial buildings totaling over 677,000 square feet. The Bridge Development affiliate paid $36.9 million for the 34.1-acre site in July. Forman Industrial Land sold the property. Buildings 1 and 2 will each total 290,295 square feet, while Building 3 will total 96,724 square feet. The project is scheduled for completion…