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Bridge Investment targets $500M in Opportunity Zone possibilities

A $12 billion real estate investment and management firm is the latest player looking to capitalize on the Opportunity Zones tax incentive development program. Salt Lake City-based Bridge Investment Group will launch what it’s calling an Opportunity Zones initiative, targeting $500 million in “attractive opportunities” across the U.S. The Opportunity Zones plan, part of President Trump’s tax overhaul, gives tax incentives to developers and investors for building in low-income areas. There are over 8,700 designated … [more]

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AGM Builders Group is launching sales of a new luxury townhouse project in Coconut Grove

AGM Builders Group is launching sales of a new luxury townhouse project in Coconut Grove. The Puerto Rico-based firm is developing Habitat at The Grove, an eight-unit townhome community at 2924 Bird Avenue. The firm hired the Jill Penman Group of One Sotheby’s International Realty to handle sales. Units range from $839,000 to $939,000. The four-story, 2,381-square-foot townhouses each have three bedrooms, three bathrooms, a rooftop deck and a two-car garage. Two units at the … [more]

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Family feud: Rosenberg siblings tussle over Manhattan office properties

Real estate executive Aron Rosenberg is facing a $3 million lawsuit from a brother who claims he was cut out on the profits of a Manhattan office portfolio. Rosenberg, the head of family-run commercial landlord Rose & Berg Realty Group, was sued by his brother Michael, who has stakes in several Rose & Berg-owned entities. His shares in the LLCs range from 20 percent to 50 percent, according to the lawsuit. The entities mentioned in … [more]

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Trump brand is done at Manhattan condo tower

Upper West Side condominium owners have won their fight against a Trump Organization sign. The group of residents at 200 Riverside Boulevard is getting a sign reading “TRUMP PLACE” removed from the building, the New York Times reported. It’s joining three neighboring buildings in removing the Trump branding. The building bought the right to use the Trump name in 2000, according to the report. But many residents haven’t wanted to be associated with the president’s … [more]

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Fractured condo near Tropical Park sells for $12M

A fractured condo deal near Tropical Park in Miami just sold for $12.45 million. 10th Street Realty, a New York-based real estate investment firm, paid about $160,000 per unit for a controlling interest in the condo complex at 5400 Southwest 77th Court. The deal gives 10th Street Realty 78 of 108 condos, allowing the company to control 72 percent of the association, Deme Mekras of MSP Group said. Mekras and MSP’s Elliott Shainberg represented the … [more]

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Le Parker Meridien hotel scion pays $7M for Sunset Islands site for new home

A member of the real estate family that developed New York City’s Le Parker Meridien hotel just paid $7.17 million for a site to build a new home on Miami Beach’s Sunset Islands. James Curnin paid $355 per square foot for the 20,000-square-foot waterfront lot at 1757 West 27 Street in Sunset Islands II, property records show. Curnin is the great-grandson of Jack Parker who founded Jack Parker Corp. Curnin bought the property from a … [more]

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Lease roundup: Stiles secures first tenants for new Fort Lauderdale office project & more

Akerman, BBX Capital and Berger Singerman ink leases at the new Main Las Olas Law firms Akerman and Berger Singerman and holding company BBX Capital just inked a total of 85,000 square feet of leases at what’s slated to become downtown Fort Lauderdale’s first new office tower in more than a decade. Main Las Olas is a mixed-use project currently under construction on a 2.7-acre lot on the northwest corner of Southeast Third Avenue and … [more]

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NHL’s Max Pacioretty sells Boca Raton home to Southern Glazer’s exec

A toast is in order. National Hockey League forward Max Pacioretty sold his Boca Raton home to Gene Sullivan, regional president of Southern Glazer’s Wine & Spirits. Pacioretty, a left winger for the Vegas Golden Knights, sold the five-bedroom house for for $3.1 million. The 4,344-square-foot house at 434 Areca Palm Road is located within the Royal Palm Yacht & Country Club, according to Douglas Elliman. Pacioretty was recently traded to the Vegas Golden Knights … [more]

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An offer they could refuse: Inside the failed bulk buyout of Isola Condominium

With nearly every acre of Miami waterfront land scooped up, developers have increasingly turned to the bulk buyout, targeting older properties in prime locations that can be demolished and replaced with glittering, taller versions. Developers 13th Floor Investments and Key International thought they had the ideal candidate recently in the aging 300-unit Isola Condominium on Brickell Key. The 23-story tower hugs the water, but at 28 years old and laden with costly maintenance issues, it … [more]

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PHOTOS: Inside The Real Deal’s annual architecture salon

Every year, The Real Deal‘s publisher Amir Korangy hosts a salon about architecture and design, bringing New York real estate’s best and brightest into conversation with the city’s leading innovative architects. Architect David Rockwell, the founder and president of Rockwell Group, was the featured guest, joining Korangy for an in-depth discussion about his career and craft before addressing questions from guests. Take a look through the slideshow above for a glimpse of the evening’s memorable … [more]

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