South Florida - The Real Deal

Boucher Brothers, city of Miami Beach finalize $3M settlement with Nikki Beach operator

TRD Staff — Tue, 26 May 2026 20:30:00 +0000

A juicy lawsuit against the city of Miami Beach and Boucher Group over the redevelopment of a city-owned beachfront ended in a $3 million settlement, payable to the owner of Nikki Beach. Boucher agreed to pay $1.5 million to Penrod Brothers to settle the lawsuit. The city agreed to pay $1.5 million, but Boucher will pay Penrod that amount directly, over time, in lieu of rent or concession agreement payments to the city, according to a news release from the city. The lawsuit accused city officials’ of favoring Boucher Brothers and Major Food Group’s bid for the site. Boucher and […]

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Pending sale of McMackins’ $85M Manalapan estate tops signed contracts in Palm Beach

Katherine Kallergis — Tue, 26 May 2026 19:26:59 +0000

A lake-to-ocean estate in Manalapan that comes with its own underground tunnel topped new pending sales activity in Palm Beach County. Buyers signed 15 contracts between May 18 and May 24 for luxury properties in Palm Beach County, according to a report by Douglas Elliman’s Eklund-Gomes team. The previous week, buyers signed 25 contracts for $129.3 million. The homes that were marked pending last week total nearly $210 million in asking dollar volume and averaged 134 days on the market. The report tracks signed contracts for single-family homes and condos asking $3 million or more in the Beaches MLS. It […]

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Madar sells three Fisher Island mansions asking combined $106M

Katherine Kallergis — Tue, 26 May 2026 16:36:20 +0000

The US arm of French perfume mogul Jean Madar’s Madar Group sold three homes at the Mansions on Fisher Island, asking a combined $105.5 million. Madar Group USA, led by CEO David-Emmanuel Cohen, said that leaves just three single-family homes for sale within the 2.5-acre development. The three homes under contract are all under construction and expected to be completed between the end of this year and the second quarter of 2027, according to a news release. Buyers signed contracts for two of those homes within the last 30 days, Cohen said. The first contract was signed in 2024. The […]

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Nahla’s Raleigh Miami Beach expansion plan heads to city commission vote

Katherine Kallergis — Tue, 26 May 2026 14:30:00 +0000

The multibillion-dollar private equity firm Nahla Capital is seeking approval of a plan to expand the Raleigh Miami Beach redevelopment. New York-based Nahla, led by managing principal Genghis Hadi, will go before the Miami Beach Planning Board on June 2 for comprehensive plan and code amendments allowing the developer to increase the floor area ratio to 2.5 from 2.0, adding more than 66,000 square feet to the project via two additional floors of the residential tower. Nahla paid $270 million for the 3-acre oceanfront development site in October, taking over from developer Michael Shvo and his partners. The property, at […]

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The Hammocks: Inside South Florida’s biggest HOA fraud

Lidia Dinkova — Tue, 26 May 2026 13:00:00 +0000

Marglli Gallego was supposed to be a savior for South Florida’s largest homeowners association. She rode to power at the Hammocks, first elected to the board of directors as treasurer in 2015 and then rising to president in 2017. Some homeowners say at first, they saw her as their way out from previous HOA leadership they disliked, setting a hopeful tone for better days for the Hammocks. The nightmare scenario that ensued brought the West Kendall community to its knees, costing residents millions and resulting in years behind bars for the grifter who fleeced them. Gallego was the ringleader of […]

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South Florida’s top deals: Dutch firm drops $110M on Miami multifamily complex

Mary Diduch — Tue, 26 May 2026 12:00:00 +0000

🏆 Residential: Miami Beach logged the priciest home sale in South Florida, where a condo at the Palazzo Del Sol at 7085 Fisher Island changed hands for $26.7 million. The unit, last listed for $28.9 million, measures about 7,600 square feet and has five bedrooms, five bathrooms and two half bathrooms. It last sold in 2018 for $13 million. Dora Puig with Luxe Living Realty had the listing, and Roberta Capua Tazzini with BHHS EWM Realty brought the buyer, a trust. The seller was Vicalnic, Corp. 🏆 Commercial: The top commercial deal to hit records was in Miami, where a […]

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South Florida Dirt: Miami jury sends a $48M message with commission suit verdict

Katherine Kallergis — Sun, 24 May 2026 17:00:00 +0000

A Miami-Dade County jury found that the buyer of a modest Golden Beach home cheated his broker out of a commission. The amount at the center of the case? $84,000 for the $2.8 million sale of a waterfront home in Golden Beach just before the pandemic. That’s not what caught my eye. The jury ruled that the client, jewelry store owner Reuben Ezekiel, was on the hook for $47.8 million in damages, including punitive and compensatory damages. That immediately prompted me to ask (first, the Internet, and then real experts) how? Civil juries have the ability to issue such awards […]

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Seller tied to investor Randall Smith sells Palm Beach mansion for $93M

TRD Staff — Fri, 22 May 2026 18:39:45 +0000

A company tied to Randall Smith of the multibillion-dollar “vulture” investment firm Alden Global Capital sold a new mansion in Palm Beach for $93.3 million. Property records show 757 Island Dr LLC sold the eight-bedroom house, which was approved by the town’s architectural commission in 2022, the Palm Beach Daily News reported. The 13,000-square-foot home includes about 1,400 square feet of covered outdoor living space. The 1-acre property at 757 Island Drive is on Everglades Island, which is surrounded by the Intracoastal Waterway. It marks the second priciest home sale for a Palm Beach home on the lake, without ocean […]

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Forest Development wins bid to build at Riviera Beach’s Marina Village

Erik Bojnansky — Fri, 22 May 2026 18:03:19 +0000

Peter Baytarian’s Forest Development beat out rivals The Related Group and Sonnenblick Development for a shot to develop 12 acres of Riviera Beach-owned waterfront. Riviera Beach city council members voted to give Forest Development a chance to build its proposed $556.1 million phased development at Marina Village, an 80-acre assemblage that city officials have been trying to redevelop for more than a decade. The North Palm Beach-based development firm must hammer out a final agreement with Riviera Beach officials in the next few months before moving forward. Forest Development’s proposal includes a 20-story Marriott Autograph Collection-branded hotel, a possible 10-story […]

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Brokers, developers use the World Cup to pitch foreign buyers. Here’s where they’re coming from

Katherine Kallergis — Fri, 22 May 2026 17:25:11 +0000

The excitement of the World Cup is helping fuel condo sales to foreign buyers, particularly from Latin America, brokers and developers say. It’s coming at a good time for the residential real estate industry, right when the market is slowing. Daniel Ickowicz, who leads the Aventura-based brokerage firm Elite International Realty, represented one of his clients, a buyer from Brazil, in the purchase of a unit at Domus Brickell Park, a short-term rental friendly condo project being developed by North Development, a venture led by Ricardo Dunin’s Oak Capital and Juan Carlos Tassara’s Edifica. The deal was sweetened by a […]

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