The Real Deal MiamiThe Real Deal Miami


    Unfinished H3 Hollywood scores financing to complete construction as apartments
    UPDATED, Dec. 12, 3 p.m.: The new owner of H3 Hollywood, a previously unfinished condo development, just closed on financing to complete the now-luxury apartment building. Hollywood East LLC, led by broker Vivian Dimond and Cristina Pereyra Alvarez, closed on a $48.65 million construction loan from Trez Forman Capital Group for the unnamed 15-story, 247-unit building at 2165 Van Buren Street in Hollywood, according to a press release. Dimond and a group of investors took over ... [more]

    Michael Cohen gets 3 years in prison, apologizes for covering up President Trump?s ?dirty deeds?
    President Trump’s former fixer Michael Cohen, who most recently pleaded guilty to lying about his involvement in the deal to bring a Trump Tower to Russia, was sentenced to three years in prison on Wednesday. During the federal court hearing in New York, Cohen apologized for his role in what he called the president’s “dirty deeds.” The sentencing is harsher than Cohen, who implicated the President in directing hush payments to two women that claimed ... [more]

    After committing $15M, NAR walks away from Upstream
    After pumping $15 million into UpstreamRE, the National Association of Realtors is ditching the data management platform. The organization announced on Wednesday that it will no longer serve as Upstream’s vendor, Inman reported. ?As I?ve said since the beginning of my tenure as CEO, we are not in the business of inventing at NAR; we?ve supported Upstream to the extent that makes sense for both our strategic missions and now it is time for them ... [more]

    Hotelier?s widow buys waterfront home in Boca Raton
    Toni Fitts, whose late husband John Fitts co-founded OLS Hotels and Resorts, just bought a waterfront home in Boca Raton for $5.28 million, property records show. The 7,767-square-foot house at 215 West Alexander Palm Road sits just south of the Royal Palm Yacht & Country Club, where home sites range from $1.5 million and $15 million. The deal breaks down to about $680 per square foot. John Fitts co-founded the hotel management company OLS Hotels ... [more]

    Engel & Völkers? Irving Padron allegedly skipped out on $285K payment: lawsuit
    Irving Padron, the license partner, president and managing broker of Engel & Völkers Miami, is being accused by a former business partner of welching on a $285,000 payment connected to his purchase of another brokerage, according to a recent lawsuit filed in Miami-Dade Circuit Court. Alejandro Abascal sued Padron and his company Seamless Transactions II for breach of contract and unjust enrichment regarding nonpayment of the six-figure sum, which was the final installment in a ... [more]

    The Weekly Dish: Michelle Bernstein opening Little Havana restaurant later this month & more
    Café La Trova | Little Havana Chef and restaurateur Michelle Bernstein is back with a new restaurant, Café La Trova, a modern Cuban concept in Little Havana. Bernstein and bartender and mixologist Julio Cabrera plan to open the new bar and restaurant at 971 Southwest Eighth Street later this month in a 5,000-square-foot space. Carlos Fausto Miranda of Fausto Commercial Realty brokered the deal, along with Daniel Egipciaco of Sovereign Real Estate Group who partially ... [more]

    Zillow expands home-buying program
    Zillow is expanding its direct-to-consumer home-buying program to Riverside County, making it the eighth market nationwide to see the platform ? and the first in California. Zillow Offers, formerly Instant Offers, lets sellers take an offer from the home-buying giant, which then flips the home after some renovations. The program will launch in the Inland Empire city early next year. Zillow is among many companies getting in on the large-scale home-flipping game, also called the ... [more]

    City Furniture sells site next to HQ to Butters JV
    A joint venture led by Butters Construction & Development just bought a 22.35-acre development site in Tamarac for $15 million with plans to develop two industrial properties. The seller, Advance Business Associates, is led by City Furniture CEO Keith Koenig. The vacant land sits just north of the furniture retailer?s 840,380-square-foot headquarters at 6701 Hiatus Road, east of Sawgrass Expressway. Records show the joint venture, Tamarac Industrial Venture LLC, scored a $26 million construction loan ... [more]

    Florida-based Accesso Partners adds to Minneapolis-area portfolio with $116M office purchase
    Real estate investor Accesso Partners bought a suburban Minneapolis office complex for $115.5 million from a fund managed by New York-based DRA Advisors. Hallandale Beach, Florida-based Accesso added the 500,000-square-foot Towers at West End in St. Louis Park, Minnesota, to its nationwide portfolio of office properties. The firm also owns the IDS Center in downtown Minneapolis, which includes the 57-story IDS Tower and the seven-story Crystal Court retail complex. The two-building Towers at West End ... [more]

    Gun maker pulls the trigger on Miami Gardens building
    Gun manufacturer Taurus International just sold a warehouse in Miami Gardens for $12.2 million to a company tied to the home appliance wholesaler Kalorik. Taurus International sold the 120,739-square-foot facility at 16175 Northwest 49th Avenue for about $100 per square foot, property records show. The buyer, Sunway Holdings, is managed by David Murad, who is a principal of the home appliance wholesaler, Kalorik. Sunway Holdings financed the purchase with a $9.7 million loan from Citibank. ... [more]