• Real Estate Investing,  Travel & Lifestyle

    Seabonay Beach Resort federal lawsuit ends in $3.5M verdict

    Daniel Lebensohn and Seabonay Beach Resort (Credit: iStock) A federal jury determined that the previous owners of the Seabonay Beach Resort in Pompano Beach fraudulently muscled out a former partner when they sold the 69-key hotel to affiliates of BH3 for $13.5 million in 2017. Last week, jurors awarded Los Angeles-based real estate investor Arturo Rubenstein and his company Fab Rock Investments $3.5 million in damages stemming from his lawsuit against Yoram and Sharona Yehuda and the BH3 affiliates BNH LLC and 1159 Hillsboro Mile LLC. However, prior to the jury verdict, U.S. District Judge Kathleen Williams ruled against Rubenstein’s request to rescind conveyance of the resort’s title to the…

  • Real Estate Investing,  Travel & Lifestyle

    Rotem Rosen seeks $103M from Tamir Sapir’s estate

    Rotem Rosen and Alex Sapir with 11 Madison Avenue (Credit: iStock and Google Maps) Five years after his death, the family of real estate mogul Tamir Sapir is fighting over his fortune. Rotem Rosen — Sapir’s former son-in-law — is seeking $103 million for his work on behalf of the family’s real estate empire, according to court documents, which cite a “falling out” between Rosen and Alex Sapir, his former business partner, brother-in-law and executor of Tamir Sapir’s estate. Rosen, who was once CEO of the Sapir Organization, claims in court documents that he is still owed $103 million for his role in steering the family’s real estate empire through…

  • Real Estate Investing,  Travel & Lifestyle

    Harvey Hernandez reaches settlement in BrickellHouse lawsuit

    Harvey Hernandez and BrickellHouse (Credit: Miami Residence, iStock) Miami developer Harvey Hernandez has finally reached a settlement in a long-running case over a failed robotic car garage at the BrickellHouse condo development. Hernandez settled for $275,000, which dismissed with prejudice all claims against him, according to the Daily Business Review. The settlement pertains to a 2016 lawsuit filed by the condo association over BrickellHouse’s car garage that malfunctioned in 2014, forcing residents to park at other buildings. The car garage was supposed to automatically move cars into parking spots in the building, but it allegedly never worked properly and the company that created the technology eventually filed for bankruptcy. Dismissing…

  • Real Estate Investing,  Travel & Lifestyle

    Zillow Offers launches in South Florida

    Zillow CEO Rich Barton (Credit: iStock) Zillow Group is rolling out its iBuying program for homes and condos in South Florida, starting in Miami and Fort Lauderdale. Sellers in South Florida can check if their property is eligible by typing their address into Zillow’s website, according to a press release. Zillow will have English and Spanish speaking representatives to guide sellers through the process. A Miami-based broker will represent Zillow in each transaction. The Seattle-based company launched Zillow Offers in Phoenix last year and has since expanded to more than a dozen markets: Las Vegas, Nevada; Atlanta, Georgia; Denver, Fort Collins and Colorado Springs, Colorado; Charlotte and Raleigh, North Carolina;…

  • Real Estate Investing,  Travel & Lifestyle

    What you should know about Greenland and its real estate

    Donald Trump and Greenland No one seems certain how to take the news that the President Trump is interested in buying Greenland. Is it a joke? Is it even possible? Would Mexico pay for it? Though numerous Greenlandic politicians have weighed in to unequivocally rebuff Donald Trump’s reported interest in acquiring their homeland, the president himself has not yet commented publicly on the Wall Street Journal report that first publicized his private hope for the Arctic nation. Sources have said that Trump is interested in Greenland for its natural resources, strategic location for national security purposes, and because buying the territory could represent a windfall (or should we say snowfall?)…

  • Real Estate Investing,  Travel & Lifestyle

    Crescent Heights buys Staples building in Edgewater

    Russell Galbut and 3000 Biscayne Boulevard (Credit: Haute Living and Google Maps) Crescent Heights added to its massive portfolio along Biscayne Boulevard in Miami. The Miami-based company, led by Russell Galbut, paid $14 million for the Staples-leased building at 2121 Biscayne Boulevard, according to Marcus & Millichap. Property records show BG7 LLC sold the 20,388-square-foot building, built in 2008. The company is tied to J and R Managers LLC and is managed by Richard Kohan, John O’Neil, Norma Castillo and Dora Somma. The Staples property last sold in 2013 for $17.4 million. It’s a block away from Crescent Heights’ headquarters. Marcus & Millichap’s Rani Hussami was the listing broker. Colin…

  • Real Estate Investing,  Travel & Lifestyle

    Don’t worry, WeWork has only committed $47B to landlords

    WeWork CEO Adam Neumann (Credit: iStock and Getty Images) WeWork’s future as a public company collided headlong this week with investors’ biggest concern: What happens in a downturn? Nine hours after the co-working company filed its IPO prospectus, the Dow plunged 800 points on Wednesday. With a possible recession looming, WeWork’s parent, the We Company, disclosed that over the next 15 years, it has $47 billion in lease commitments. That’s the same amount as its latest valuation, and that figure is in addition to $6 billion debt. Currently, the company says it has $4 billion in committed revenue from its customers and $2.5 billion in cash, half of which is…

  • Real Estate Investing,  Travel & Lifestyle

    Lissette Calderon closes on land for second Allapattah project

    Lissette Calderon and a rendering of the project (Credit: Sonya Revell) Developer Lissette Calderon closed on land for a second mixed-use project in Allapattah, property records show. Calderon’s TCG Allapattah 16 LLC paid $6.4 million for the land at 1625 Northwest 20th Street. F&L Properties, led by Jorge Lerman, sold the site. Calderon, president and CEO of Neology Life, is planning to build 16 Allapattah, with 323 apartments, a 336-space parking garage, about 13,000 square feet of retail space and nearly 7,000 square feet of office space on the site. The Miami Urban Development Review Board approved plans for the 12-story project last month. Records show that F&L Properties owns…

  • Real Estate Investing,  Travel & Lifestyle

    Habitat Group buys land for new west Brickell project

    Rendering of Brickell 12 and Santiago Vanegas Habitat Group paid $6.1 million for a site in west Brickell where it’s planning to build a hotel project. Habitat Group, led by Santiago Vanegas, closed on the 10,500-square-foot lot at 1200 Southwest Second Avenue, according to property records. A spokesperson for the developer said Habitat is planning to build Brickell 12, a 96-key hotel project, on the site. Fatima Investments Inc., led by Steven M. Lee, sold the corner parcel, which includes a 2,556-square-foot building. It last sold for $825,000 in 2003. The property is across the street from Maizon, a 24-story, mixed-use apartment building at 1142 Southwest Second Avenue, as well…

  • Real Estate Investing,  Travel & Lifestyle

    All of the stocks are tumbling — except real estate

    With growing fears of a recession, real estate stocks continue to hold their own. (Credit: iStock) While the U.S. markets are in fear of a recession, investors seem to know one place they want to park their money: real estate stocks. Of the 28 real estate stocks tracked by The Real Deal — a sample of real estate investment trusts, mortgage companies, brokerages and other real estate services firms — 15 saw an uptick. That’s despite the S&P 500, Dow 30 and Nasdaq showing slight losses as of 1:45 p.m. Thursday. The Dow plunged 800 points yesterday after the yield on the two-year Treasury note pushed higher than the yield on 10-year Treasuries…