Friday, July 27, 2012
Imperial Real Estate Group: Second largest condo sale in Miami Dade county thi...
Imperial Real Estate Group: Second largest condo sale in Miami Dade county thi...: One buyer has closed on the $24.6 million purchase of a combination of five units at the St. Regis Bal Harbour . It is the...
Second largest condo sale in Miami Dade county this year closed for $24.5M
One buyer has closed on the $24.6 million purchase of a
combination of five units at the St. Regis Bal Harbour. It is the
single-largest transaction at the St. Regis Bal Harbour, which opened its doors
in January.
Considered
as one unit in St. Regis Bal Harbour, the deal is the second-largest condominium sale in Miami-Dade County,
following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum in May.
It is considered as one
unit, the deal is the second-largest condominium sale in Miami-Dade County,
following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum in May.
Thursday, July 26, 2012
Imperial Real Estate Group: South Florida condo market is growing
Imperial Real Estate Group: South Florida condo market is growing: South Florida condo market is entering new growth phase. At least 45 towers with more than 7,600 units have been propos...
South Florida condo market is growing
South Florida condo market is entering new growth phase.
At least 45 towers with more than 7,600 units have been proposed
— with five towers already under construction — along the coast in Miami-Dade,
Broward, and Palm Beach counties in the last 14 months.
As of March 31, about 3,900 developer units remain unsold out of
a pool of nearly 49,000 units created during the last boom in South Florida’s
seven largest coastal condo markets of greater downtown Miami; South Beach;
Sunny Isles Beach; Hollywood and Hallandale Beach; downtown Fort Lauderdale and Fort Lauderdale beach; Boca Raton and Deerfield Beach; and downtown West Palm Beach and Palm Beach.
Wednesday, July 25, 2012
Sunny Isles Beach is Booming with new developments
Sunny Isles Beach in Miami-Dade County fast becoming the
epicenter of South Florida’s condo boom, the Miami Herald reported. Six condo
towers are currently being developed in the area, which represents
approximately 15 percent of the more than 45 towers proposed through July 2012
in South Florida’s tri-county region. Another 530 luxury units will be built on
nearly 40 blocks along Collins Avenue, and more are expected to come.
Developers
have purchased an additional four condo sites in Sunny Isles Beach, containing more than 580 units, all of which have been approved for
residential towers. Investment group has
recently purchased the loan for a partially completed condo tower that has been
approved to contain 134 condo units and 140 hotel rooms. If this pace of
development continues, Sunny Isles Beach could see its total number of condos
increase by more than 1,200 units.
Friday, July 13, 2012
Thursday, July 12, 2012
Mortgage rates fall to new lows 30-year loans averaging just above 3.5%
Interest rates fell to new
historic lows this week for both 30- and 15-year fixed-rate home loans.
30-year fixed rate loans now averaging just above 3.5
percent, Freddie Mac reported today.
Average interest rates on
15-year fixed-rate loans also dropped this week to new lows to 2.86 percent
after being at 2.89 percent the week before, Freddie Mac said. The 15-year
fixed rate loan has average below 3 percent for seven weeks. Last year at this
time the average rate was at 3.66 percent
Epicure Market location in Sunny Isles sold!
Sunny Isles Beach location of Epicure Market has been sold for $19 million, according
to the South Florida Business Journal. The buyer was a group connected with Gil
Dezer, who has developed a number of condominium projects in the Sunny Isles Beach area. Jerry’s
Famous Deli was the seller of the project, Epicure also has a location on
Miami Beach’s Alton Road, just across from the Lincoln Road pedestrian mall.
Imperial Real Estate Group: $175 million settlement on fair lending with Wells...
Imperial Real Estate Group: $175 million settlement on fair lending with Wells...: The Department of Justice has reached a settlement with Wells Fargo Bank regarding an alleged pattern of discrimination against qualified Af...
$175 million settlement on fair lending with Wells Fargo Bank
The Department of Justice has
reached a settlement with Wells Fargo Bank regarding an alleged pattern of
discrimination against qualified African-American and Hispanic borrowers for a
5 year period beginning in 2004. The settlement gives $125 million in
compensation for borrowers who were led into taking out subprime
mortgages or who paid higher fees than similarly-qualified white
borrowers. The additional $50 million will provide direct payments for
down payment assistance of residents in eight U.S. metro areas.
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