SOUTH FLORIDA NEWS - May, 2026

South Florida Bankruptcies Up While Luxury Thrives: Explained

Luxury condos are selling. Construction loans are closing. Record prices keep making headlines. But behind that, 836 South Florida businesses filed for bankruptcy in 2025, up 30% from the year before. Two economies, same zip code. Here's what's actually happening.

Key Takeaways

• South Florida recorded 836 business bankruptcy filings in 2025, up approximately 30% from 2024.
• Florida ranked third nationally for business bankruptcies with 2,480 filings, behind California and Texas.
• The increase reflects a normalization from artificially low pandemic-era levels, not a collapse.

According to the South Florida Business Journal, citing a new study by The Kaplan Group analyzing federal judiciary data from 2019 through 2025, South Florida's…

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Buyer Beware: Aston Martin Residences Faces Two Lawsuits

The world's first Aston Martin-branded residential tower in Downtown Miami is now facing two separate lawsuits filed within ten weeks of each other. One alleges fraud. The other alleges construction defects. Here's what's actually happening.

Key Takeaways

• The condo association filed two lawsuits against the developer and contractors in February and April 2026.
• The first lawsuit alleges fraud, self-dealing, and the omission of amenities, including a marina and a helipad.
• The second lawsuit alleges construction defects including cracked balcony concrete, waterproofing failures, and seawall corrosion.

Aston Martin Residences at 300 Biscayne Boulevard Way in Downtown Miami is a 66-story, 391-unit tower that opened 99% presold in April…

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Related Group Downsizes Plantation Project by 127 Units

The approved Plantation mixed-use project from Related Group and BH Group is being cut from 512 units to 385, along with other retail reductions. Why is this strategy so different from their $360 million bet in Hollywood? Here's the breakdown.

Key Takeaways

• Related Group and BH Group are seeking city approval to shrink their project at 8601 West Sunrise Boulevard from 512 units to 385.
• Commercial space is being cut by 51.5%, and the height is dropping from 8 stories to 6.
• The same developers just closed a $360 million construction loan for Icon Beach in Hollywood, signaling confidence in for-sale luxury but caution in Broward rentals.

Related Group and BH Group paid $13 million in 2023 for a 13.7-acre former AT&T training center at…

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Why The Delmore in Surfside Has Zero Contracts So Far

A 37-unit Zaha Hadid-designed tower is rising on the former Champlain Towers South site in Surfside. Sales launched in January 2025. As of April 2026, zero contracts have been signed. The surrounding market is thriving, so the question is whether this is about the site's history or the pricing.

Key Takeaways

• The Delmore, a 12-story, 37-unit luxury tower designed by Zaha Hadid Architects, has not signed a single contract since sales launched in January 2025.
• Most units are priced between $35 million and $40 million, with penthouses potentially exceeding $150 million.
• The surrounding Surfside market is strong, with condo sales up 57% and average prices up 23% to $6.1 million in Q1 2026.

On June 24, 2021, Champlain Towers South collapsed…

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Living in Boca Raton vs Delray Beach: Which Fits Your Move?

Boca Raton and Delray Beach sit 10 miles apart on Florida's Atlantic coast but attract very different buyers. Here is how the cities compare on home prices, schools, downtown energy, beaches, and what daily life actually looks like.

Quick verdict: Boca Raton vs Delray Beach

Choosing between Boca Raton and Delray Beach comes down to lifestyle fit. Delray Beach is an energetic, walkable beach town built around Atlantic Avenue's restaurants, galleries, and nightlife. Boca Raton is a more polished, planned suburb known for top-rated schools, country clubs, and larger gated homes.

Choose Boca Raton if you want top schools, gated communities, and a quieter pace. Choose Delray Beach if you want a walkable downtown, beach-town energy, nightlife, and…

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Palm Beach Q1 2026: Single-Family Surges, Condos Soften

Q1 2026 data from Corcoran Group and Brown Harris Stevens reveal a bifurcated Palm Beach market. Single-family homes are surging in both volume and price, while condos show more transactions but lower average prices. Land, privacy, and control are winning at the highest end.

Key Takeaways

• Palm Beach Island single-family sales volume rose 36% year-over-year, with average prices up 18% to $19.6 million.
• Palm Beach Island condo volume increased 39%, but average prices fell 14% to $2.4 million.
• West Palm Beach single-family prices jumped 49% to 52%, depending on the source, signaling strong regional demand.

Q1 2026 data from Corcoran Group and Brown Harris Stevens show that Palm Beach is not one market right now. Single-family estate…

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Office-to-Condo: 26 Luxury Units Approved in Downtown Delray

CDS International Holdings, the family office for the late billionaire Carl DeSantis, is converting its downtown Delray Beach office building into 26 luxury condos. The project passed the Planning and Zoning Board 7-0 and received City Commission approval in February 2026.

Key Takeaways

• CDS International Holdings will demolish its two-story office building and replace it with a four-story, 26-unit luxury residential building.
• The Planning and Zoning Board voted 7-0 in early 2026, and the City Commission granted Level 4 Site Plan approval in February 2026.
• The project follows Delray Beach's standard approval process and is led by the DeSantis family office.

CDS International Holdings has received approval to demolish its…

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New 9-Story Luxury Condo Proposed for Downtown Boca Raton

A developer paid $30.1 million for a vacant 1.17-acre site on East Royal Palm Road and has now filed plans for an 82-unit luxury condo. The location is strong. The question is whether pricing and approvals line up.

Key Takeaways

• A developer has proposed a nine-story, 82-unit luxury condo for two combined parcels in downtown Boca Raton, with units averaging 2,340 square feet.
• The land sold for $30.1 million in October 2025, translating to $25.7 million per acre.
• The project is in early staff review with no hearings scheduled yet, and the developer has not been publicly identified.

A developer has submitted plans for a nine-story, 82-unit condominium at 375 East Royal Palm Road in Boca Raton. According to Florida YIMBY, Royal Palm…

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Boca Office Tower Scrapped for Flex-Industrial: Here's Why

A developer acquired land in Boca Raton with an approved 157,900-square-foot office tower ready to build. They killed it. The pivot to flex-industrial tells you everything about where the market is heading.

Key Takeaways

• Butters Group is replacing a previously approved office tower with two 35,800-square-foot flex-industrial buildings in Boca Raton's Park at Broken Sound.
• The same 11.7-acre site will also include 287 apartments from Ram Real Estate, creating a live-work campus.
• Mutual of America Life Insurance sold the site for $23.75 million and is expected to vacate by spring 2026.

In November 2025, New York-based Mutual of America Life Insurance sold its 11.7-acre Boca Raton campus at 1150 NW Broken Sound Parkway for $23.75 million…

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Ritz-Carlton Palm Beach Gardens: 106 Luxury Units Coming

The luxury brand has transformed from popular hotels to in-demand residences. With projects already moving in Pompano and West Palm Beach, this new Intracoastal waterfront development in Palm Beach Gardens is worth watching.

Key Takeaways

• The Ritz-Carlton Residences, Palm Beach Gardens, includes 106 units across three six-story buildings on the Intracoastal Waterway, with pricing from $3.8 million to over $10 million.
• Developer Catalfumo Companies broke ground in January 2024, and the project was 40% sold at topping off in January 2025.
• Spring 2026 delivery is targeted, with a general manager already appointed to oversee operations.

The Ritz-Carlton Residences, Palm Beach Gardens, has entered its final construction phase. According to…

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