Case- Shiller index changes since 1988 Home prices dipped nationwide for the fifth consecutive month in January, according to today’s Standard & Poor’s Case-Shiller Home Price Index, providing another blow to the housing market following last week’s disappointing new home sales data. The 20-city composite index was down 3.8 percent compared to January 2011 and [...]
Monthly Archives: March 2012
South Florida construction rises 50 percent
March 28, 2012 – 12:44 pm
New projects like BrickellHouse are driving growth The total volume of contracts for future construction in South Florida reached $326.1 million in February, a 50 percent increase compared to the same period in 2011, according to a report from McGraw-Hill construction. There were $218 million in contracts for future construction in February 2011. The totals [...]
Old Grand Bay hotel to become new residential tower
March 28, 2012 – 12:30 pm
COCONUT GROVE | GRAND BAY HOTEL The Grand Bay hotel, once an icon of luxury, will be razed to make way for a residential tower designed by a prominent Danish architect. Grand Bay Hotel, 2669 South Bayshore Drive in Coconut Grove with Alexander Liberman’s “Windward” marking its driveway on Thursday, March 22, 2012. The Grand [...]
Florida among strongest markets of improving U.S. hotel sector
March 21, 2012 – 11:58 am
South Beach’s Sense Hotel The national hospitality sector is heading to its third year of recovery, according to a report from Marcus & Millichap. Hotel occupancy nationwide is expected to reach nearly 61 percent this year, with ADR slated to increase by 4 percent on a year-over-year basis. The three strongest hotel markets are North [...]
Israeli buyers continue Miami residential push, mostly targeting investment properties
March 21, 2012 – 11:53 am
Downtown Miami, Dean Bloch and Adriana Faerman Largely overshadowed in the recent Miami condominium boom driven by Latin American buyers, Israelis have been a quiet mainstay of the area’s residential market. Israeli interest in Miami came relatively early on, mostly in the form of bulk purchases. That trend was highlighted by a 26-unit purchase by [...]
Lenny Kravitz talks Miami design
March 21, 2012 – 11:48 am
Lenny Kravitz and the Paramount Bay Rocker-turned-designer Lenny Kravitz’s latest work has him designing at a number of Miami projects, several units at the upcoming SLS South Beach and the Paramount Bay in downtown Miami. “What I like about the Paramount Bay is that it’s on the bay; it’s not in South Beach,” Kravitz told [...]
Are rising rents in the U.S. cause for concern?
March 21, 2012 – 11:45 am
Rent prices increased 3 percent nationally year-over-year in January, CNBC reported based on a not-yet-released rental index from Zillow.com, suggesting a possible rental bubble. CNBC noted that increased rents have yielded a decrease in home prices for buyers: a 4.6 percent year-over-year decline, but with no set reason for why this is. According to CNBC, [...]
Genting Group
March 21, 2012 – 11:40 am
DOWNTOWN MIAMI Genting Group downsizes plans for Miami resort site With gambling approval denied in Tallahassee, Genting Group scales back its design to initially use just a fraction of the bayside resort site. Even without casino gambling, Genting Group said Tuesday it is moving ahead with a dramatically scaled down mixed-use plan for Resorts [...]
