SOUTH FLORIDA NEWS

Every Fannie Mae Condo Change Explained for South Florida 2026

Some rules take effect immediately and could lower your HOA dues. Others kick in over the next nine months and could disqualify your building from conventional financing. Here is the full breakdown.

Key Takeaways

• Roofs can now be insured at actual cash value rather than replacement cost, which could immediately lower insurance premiums.
• The 50% investor concentration limit has been removed, reopening Fannie Mae eligibility for many South Florida buildings.
• Reserve requirements increase from 10% to 15% on January 4, 2027, and only 3% of buildings currently meet that threshold.

Fannie Mae announced a sweeping set of updates to how it evaluates and approves condo buildings for conventional financing. The changes are split into two…

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Inside Nautilus 220: Lake Park's Twin Towers Are Now Open

Two 24-story towers with 330 waterfront condos just held their grand opening on March 25. More than 90% of units are already sold, and celebrity chef David Burke's first Florida restaurant is now serving downstairs.

Key Takeaways

• Nautilus 220 spans 1.15 million square feet with 330 condos, ground-floor dining, retail, and office space.
• More than 90% of residences have been sold, with the remaining units priced between $3 million and $4.7 million.
• The project will generate $2 million in property tax revenue annually, roughly 16% of Lake Park's total budget.

Nautilus 220 held its official grand opening on March 25 in Lake Park, marking the completion of two 24-story towers with 330 condo residences along the Lake Park Harbor Marina.…

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What to Know About Delray Ridge Before the Last Homes Sell

Nine of fourteen homes are already sold. Seven are completed and occupied. Toll Brothers recently took over the remaining sites, and buyers can now tour a finished neighborhood rather than a rendering.

Key Takeaways

• Delray Ridge is a gated enclave of 14 luxury single-family homes with prices starting at $2.6 million.
• Seven homes are completed and occupied, with five remaining lots now available for sale by appointment.
• Toll Brothers joined the project to handle the final sites, offering two floor plans from 4,197 to 4,605 square feet.

Delray Ridge is a gated enclave of 14 luxury single-family homes developed by Ellish Builders, with Toll Brothers recently joining to handle the remaining sites. Nine homes have already sold, seven are…

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Casa Avenida Brings 8 Luxury Townhomes to Delray Beach

Kastelo Development and 4TRO Development have launched eight four-story residences one block from Atlantic Avenue. Each features a private rooftop pool, in-unit elevator, and two-car garage. Here's what buyers should know before signing.

Key Takeaways

• Casa Avenida features eight townhomes ranging from 2,800 to 3,300 square feet, priced from $2.995 million.
• Groundbreaking is scheduled within 30 days, with a Q2 2027 completion target.
• The developers paid $3.8 million for the 0.4-acre site in January 2025.

Kastelo Development and 4TRO Development have launched Casa Avenida, a boutique collection of eight four-story townhomes at 102 SE 5th Avenue in downtown Delray Beach. Each residence ranges from 2,800 to 3,300 square feet and features…

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Why Someone Paid $18M for an Unfinished Palm Beach Mansion

A Dunbar Road mansion sold for $18.16 million with no interior finishes. The buyer skips the permit process, controls every design choice, and could exit with nearly $30 million.

Key Takeaways

• The home sold for $18.16 million while still under construction with no interior finishes.
• It traded for $14.34 million just one year ago, a 26.6% appreciation through structure alone.
• New construction in Palm Beach's North End is now trading at $4,500 to $5,000 per square foot.

The 264 Dunbar Trust sold the property at 264 Dunbar Road to a new buyer trust for $18.16 million. The home is in the middle of construction, and the buyer will be responsible for completing the interior buildout. When finished, it will total 5,993 square feet with six…

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Fort Lauderdale Office Park Rezoned for 310 Apartments

Feldman Equities and Greystar are converting a 13-acre Cypress Creek office campus into a mixed-use development next to Tri-Rail. The two 1980s office buildings stay, with five new residential buildings to be added.

Key Takeaways

• The Planning and Zoning Board reviewed the rezoning request on March 18, 2026.
• City Commission approval is expected at the April 7 or April 21, 2026, meetings.
• Greystar manages over 798,000 residential units globally, reducing execution risk on this project.

Feldman Equities and Greystar are seeking to rezone Pinnacle Corporate Park at 500 and 550 NW 62nd Street in Fort Lauderdale's Cypress Creek area. The rezoning request moves the site from commercial and light industrial to the city's Uptown Urban District…

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New FHFA Rules Could Lower Condo Insurance Costs in Florida

Hundreds of Florida condo buildings that couldn't qualify for conventional mortgages may now be back in play. The Federal Housing Finance Agency just changed how condo buildings can insure their roofs for Fannie Mae and Freddie Mac loans, and for Florida buyers locked out of certain buildings, this could finally reopen doors.

Key Takeaways

• Condo buildings can now use actual cash value coverage for roofs instead of full replacement cost.
• The change is designed to help more buildings qualify for conventional mortgages.
• Florida's state-level SIRS reserve requirements remain in effect regardless of federal changes.

Who This Affects

• Buyers: Previously locked out of non-warrantable buildings due to insurance issues. More options may…

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Inside Kevin James's $17M Boca Raton Mansion

"The King of Queens" star just closed on a turnkey spec home in Royal Palm Yacht and Country Club, one of Boca Raton's most exclusive gated communities. The deal closed at $1,975 per square foot.

Key Takeaways

• Kevin James purchased an 8,685-square-foot mansion at 1831 Sabal Palm Drive for $17.15 million.
• The lot sold for $5 million in 2023. Its value increased to $17.15 million as a finished spec home, a 240% rise.
• Royal Palm Yacht and Country Club median prices are up 20% year-over-year as of early 2026.

The purchase was made through a trust called Boca Eddie Land Trust, with the mortgage address linking back to Kevin James's known residence in Old Westbury, New York. A source close to the deal confirmed he was the buyer. The home…

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Edgeworth Is Related Ross' Next Big Bet on West Palm Beach

Stephen Ross just announced his third high-rise residential project in West Palm Beach. It includes the highest penthouse price the city has ever seen.

Key Takeaways

• Edgeworth will deliver 168 residences across two 28-story towers, with prices from $2.5 million to $35.5 million.
• Related Ross's nearby South Flagler House generated over $500 million in pre-construction sales in Q1 2026.
• Construction is scheduled to begin in 2027 with completion targeted for 2029.

Related Ross just launched sales for Edgeworth, two 28-story towers on the South Flagler waterfront in West Palm Beach. Kohn Pedersen Fox is handling architecture, March and White Design is leading interiors, and Corcoran Sunshine Marketing Group is managing sales.

The…

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Nora House: The First For-Sale Condo in WPB's Nora District

The Nora District has been the most talked-about new neighborhood in West Palm Beach for two years. You can finally buy a home in it.

Key Takeaways

• Ronto Group has launched sales for Nora House, a 117-unit condo with prices starting in the upper $1 millions.
• It is the first for-sale residential offering in the 40-acre, $1 billion Nora District.
• Groundbreaking is targeted for mid-2027 with completion in 2029.

Nora House is an 11-story building at 1105 N. Dixie Highway in West Palm Beach's Nora District. The master-planned district is being developed by NDT Development, Place Projects, and Wheelock Street Capital. Douglas Elliman is leading sales.

As Larry Mastropieri explained on the Discover South Florida Podcast: "This is a really…

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