SOUTH FLORIDA NEWS - Boca Raton Real Estate

Miami Beach Mansion Teardown Follows $15 Million Sale on Hibiscus Island

A luxury property on Miami Beach’s prestigious Hibiscus Island is set for demolition after being sold for a staggering $15 million. The 3,646-square-foot home, built in 1952, sits on a prime 21,000-square-foot waterfront lot. The sale price reflects the growing demand for land in this high-end neighborhood, where wealthy buyers often prefer to build new mansions rather than renovate older homes.

This transaction highlights a broader trend in Miami Beach real estate, where investors and high-net-worth individuals are willing to pay top dollar for land, even if it means tearing down existing homes. Let’s take a closer look at the details of this sale and what it signifies for Miami Beach's real estate market.

Details of the Sale

The property,…

1610 Views, 0 Comments

Top U.S. Cities for Real Estate Investments: Florida dominates the charts

Real estate investors looking for profitable markets in 2024 are focusing heavily on the South, with Florida, North Carolina, and Texas leading the charge. According to a new report by Agent Advice, which ranks markets based on factors like home price growth, population trends, and personal income growth, these states dominate the top 10 spots. Whether you're a seasoned investor or new to the game, here’s a breakdown of why these regions are ripe for opportunity—and what risks might still linger.

The South Takes the Lead in Real Estate Investment

The findings from Agent Advice show that the South continues to be a powerhouse for real estate investment. Florida alone boasts four of the top 10 markets, while North Carolina and Texas each claim two…

1706 Views, 0 Comments

What the Sale of Shops at Midtown Miami Means for Future Developments

The Shops at Midtown Miami, one of the most bustling shopping centers in the city, has changed hands in a major deal. Site Centers Corp. (NYSE: SITC) sold the 347,740-square-foot retail center, located at 3401 N. Miami Ave., to Benderson Development. This high-profile transaction, though the price remains undisclosed, signals significant movement in Miami’s commercial real estate sector.

With JLL Capital Markets brokering the deal, this sale has piqued interest across the business community. In this blog, we’ll explore the sale’s implications for the local economy, why Midtown Miami remains a prime retail destination, and what it means for future developments.

Why This Sale is Important for Miami’s Retail Scene

The Shops at Midtown Miami isn’t…

1784 Views, 0 Comments

The Messi Effect: Boosting Soccer, Real Estate, and Business in Miami

It’s hard to talk about Inter Miami these days without mentioning Lionel Messi. The soccer legend’s arrival has completely transformed the team, MLS, and even the real estate market in South Florida. If you’re a real estate agent, or just interested in the property market, Messi’s impact on Inter Miami and the entire sports landscape offers a fascinating look at how a superstar can drive growth in unexpected ways.

When billionaire Jorge Mas, his brother Jose, and David Beckham brought Messi to Inter Miami in 2023, it was a bold move for a team that had been struggling. Fast forward a little over a year, and we’re seeing the ripple effects of that decision. Inter Miami has become the most popular American sports team on social media, and its revenue has…

2019 Views, 0 Comments

Riviera Beach board advances $500 million mixed development project

The Riviera Beach Community Redevelopment Agency (CRA) has advanced the $500 million Oculina project, a towering 25-story mixed-use development, after a unanimous board vote to send it to City Council for approval. Since CRA members are on the City Council as well, Oculina’s likely to receive the green light to start construction. The project will replace an abandoned grocery store with 399 residential units, 9,680 square feet of retail space, 17,120 square feet of restaurant space, and 11,000 square feet of office space.

"This project will establish a new, high-quality development standard in the Broadway corridor," said Scott Evans, Director of Planning and Development for the CRA. Oculina is strategically located in an area city officials have…

1620 Views, 0 Comments

Boca Village: 13th Floor Investments New 340-Unit Residential Development in Boca Raton

A new chapter in Boca Raton's development story is being written with the proposal of Boca Village, a 340-unit residential project by 13th Floor Investments. Planned for the vacant 17.24-acre site at 680 W. Yamato Road, this ambitious project aims to breathe new life into the area.

Envisioned as an eight-story building, Boca Village is set to encompass 414,566 square feet of fresh construction. The development promises a range of living options, with apartment sizes varying from cozy 500-square-foot studios to spacious 1,488-square-foot three-bedroom units. Each apartment is designed to feature modern appliances and a host of amenities to cater to contemporary lifestyles.

According to the South Florida Business Journal, the complex is expected to…

652 Views, 0 Comments

Boca Raton's Corporate Magnet: Mutual of America's Bold Expansion in the Park at Broken Sound

Boca Raton is on the verge of a significant transformation in its corporate landscape, led by Mutual of America's ambitious expansion plans in the Park at Broken Sound. The New York-based life insurance giant, already established in the park with a regional office, is gearing up to dramatically upscale its presence.

The company's vision involves demolishing its current office and replacing it with a much larger facility, nearly tripling its existing space. This expansion is not just about square footage; it's a strategic move to relocate an additional 200 employees from its Manhattan base to Boca Raton, effectively doubling the local workforce to 400. This shift represents about one-third of Mutual of America's total employees.

The Park at Broken Sound,…

1789 Views, 0 Comments