SOUTH FLORIDA NEWS

Top Things to Do in Boca Raton: A Guide for Visitors & Locals

The gorgeous community of Boca Raton lies nearly 50 miles to the north of Miami in the Palm Beaches. This place was originally formed in the early 20th century as a primary resort in South Florida. Boca Raton has subsequently grown into a desired destination of beautiful beaches, parks, cultural attractions, and an exciting dining scene. Architect Addison Mizner was a central figure in giving Boca its character especially with the designing of the city's hallmark town hall, Mizner Park, and the grand Mediterranean-styled pink "castle," the Boca Raton Resort & Club, which stands tall today as a landmark.

Boca Raton, or "Boca," as the locals fondly call it, is the second-largest city in Palm Beach County. It is celebrated for its wildlife conservation…

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Billionaire William Lauder Secures Buyer for Record-Breaking Palm Beach Lots

A major real estate deal is under way in Palm Beach County, with a buyer lined up for billionaire William Lauder's 2.3-acre oceanfront estate, listed at $177.8 million. If it closes for that price, the sale would break the record for one of the costliest residential transactions in Florida.

Potential Record Setting Sale in Palm Beach

According to The Real Deal, billionaire William Lauder has found a buyer for his oceanfront property, which could set a new Florida residential record. The sale of Lauder's oceanfront land would eclipse the $173 million that billionaire Larry Ellison paid for a 16-acre estate in Manalapan in 2022. The sale would also top the $170 million that Michael Cantanucci paid for a mansion in Palm Beach in 2023, currently the…

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Why South Florida's Foreclosure Rate is Among the Highest in the U.S.

Current Foreclosure Rates & Trends

A new analysis from ATTOM, the nation's leading real estate data analytics firm, shows that South Florida still struggles to address one of the highest rates in the nation regarding foreclosures. In August 2024, one out of every 2,429 housing units in South Florida saw a foreclosure filing, putting it 12th among the key metropolitan statistical areas in the United States. Over 1,000 homes throughout Miami-Dade, Broward, and Palm Beach started some form of the foreclosure process.

In August, 422 homes in Miami-Dade County were listed as being in the foreclosure process. This represents one out of every 2,604 units in the county, an increase of 23.28% from July and 8.4% year-over-year.

In total, 312 of 2,270…

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Boca Raton Real Estate Market Update 2025: What You Need to Know NOW

It seems that at the tail end of 2024, the South Florida real estate market had some big changes compared to a year ago. From increased home prices to increased days on the market, here's a closer look at the leading trends shaping buying and selling in the Boca Raton area.

Home Prices on the Rise

• The average sale price is up 23% year-over-year, standing at $1,127,794 in December 2024 from $919,885 in December 2023.

• The median sale price increased by 3%, growing from $580,000 to $594,950 year-over-year.

• Year-to-date, the average sale price rose 24% and the median sale price was up 11%.

This uptick in price is representative of continued demand across all segments but especially within the luxury markets as…

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What Is a Buyer's Broker Agreement and Why It Matters

Understanding a Buyer’s Broker Agreement

A Buyer's Broker Agreement is a formal contract between a prospective homebuyer and a real estate broker. This agreement outlines the responsibilities and obligations of both parties during the home-buying process. By signing this contract, you agree to work exclusively with the broker to find and purchase a property. Larry Mastropieri, Broker and Owner of The Mastropieri Group, describes a Buyer’s Broker Agreement as “a formal way to establish trust and commitment between a buyer and their agent.”

Key Components of the Agreement

Broker's Responsibilities: The broker agrees to assist you in finding appropriate properties, providing market information, drafting and submitting purchase offers, and advising…

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Penn-Florida Files Bankruptcy to Halt Via Mizner Foreclosure in Boca Raton

The most recognizable name in Boca Raton real estate, Penn-Florida Companies, has filed Chapter 11 bankruptcy on its 101 Via Mizner apartment building to evade a foreclosure auction slated for $145 million on the same day. It was a tactical move made on January 16, 2025.  Below is an overview of the situation and what it means to the real estate market in Boca Raton.

Background on Penn-Florida and Via Mizner

Overview of Penn-Florida Companies

From the time of its founding in 1987 until today, Penn-Florida Companies has grown into one of South Florida's largest developers of luxury properties. From 6 million square feet in its portfolio to another 2 million square feet in development, the projects from the firm dot the landscape of the region.…

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Discover Boca Villa Apartments in Boca Raton, FL

Boca Villa Apartments is the epitome of Boca Raton living. Luxury, convenience, and leisure, all come into play here at Boca Villa Apartments in Boca Raton, Florida. Whether looking for residence near work or wanting to enjoy a laid back home, Boca Villa Apartments will help in fulfilling that demand for real estate in Boca Raton. From comfort to class, this neighborhood offers all ways to live a desirable life.

Property Highlights

Brand-New Apartments

53 newly constructed apartments across five gorgeous buildings, totaling 120,519 square feet.

Spacious layouts include:

• 27 two-bedroom, two-bath apartments (1,113 sq. ft.).

• 4 extra large two-bedroom, two-bath apartments (1,247-1,392 sq. ft.).

• 22 three-bedroom,…

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Camino Square Boca Raton: Retail Plans Shift to 400 New Apartments in Phase 2

Initial Plans for Retail and Mixed-Use Development

The Camino Square development in downtown Boca Raton was supposed to be a mixed-use project targeted at redeveloping the area. The first phase of the project involved the demolition of a Winn-Dixie-anchored retail center in order to make way for a modern complex with 350 apartments across two eight-story buildings. Retail space was the original focus of the project, with the second phase approval given for over 37,000 square feet of retail use. However, market conditions since the application and approval process have shifted this focus.

Location and Significance of the Project

Located at 171 West Camino Real, the Camino Square sits on one of the most prime 9.1-acre sites in the heart of Boca…

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Why South Florida Condo Prices Could Drop by 40%

After years of soaring property values, South Florida’s condo market may face a significant shift. Analysts predict prices could fall by as much as 40%, creating challenges for sellers but potential opportunities for buyers. What’s driving this anticipated change? Let’s take a closer look.

Overview of the South Florida Condo Market

Pandemic-Driven Price Increases

In its wake, the pandemic triggered a real estate boom in South Florida. High-income households moved to the region, snapping up waterfront condos to beat restrictions in other states. The surge drove prices to peak at $379 per square foot in 2024, compared to pre-pandemic levels.

Current Market Trends

However, it lost steam. Sales of condos and townhouses retreated 19.6% on a…

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Steve Ross Trades New York for West Palm Beach Real Estate Dreams

Steve Ross, the billionaire developer behind iconic projects in the U.S., has turned his attention to West Palm Beach. At 84, Ross isn’t slowing down. Instead, he’s diving into a bold vision to transform this South Florida city into a thriving hub of commerce, culture, and innovation.

From New York to West Palm Beach: A Visionary’s Journey

Steve Ross’s Early Years and Connection to Florida

Steve Ross’s roots in Florida go back decades. Raised in Miami Beach, he’s always had ties to the Sunshine State. During the pandemic, his Palm Beach estate, The Reef, became a retreat. This move rekindled his connection to Florida and inspired his next chapter.

A Pandemic Move That Sparked Change

In 2021, Ross made Palm Beach his permanent home. Many…

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