South Florida - The Real Deal

Moratorium on waterfront project applications in downtown West Palm heads to final vote

Katherine Kallergis — Wed, 15 Jul 2026 23:00:00 +0000

West Palm Beach commissioners will take a final vote on pausing new project applications for high-rise waterfront developments at next week’s meeting. The proposed ordinance would create a six-month moratorium on new planned development applications for properties south of Monroe Drive, north of Southern Boulevard, west of Flagler Drive and east of Washington Road, according to the commission agenda. Commissioners approved it on first reading at a meeting last week; a second reading vote is scheduled for July 20. The city cited rapid transformation of that corridor of apartment and condo buildings and is hiring Zyscovich to complete a zoning […]

This article originally appeared on The Real Deal. Click here to read the full story.

Luxury “landmaxxing”: The billionaire push for private compounds

TRD Staff — Wed, 15 Jul 2026 21:00:00 +0000

Buying mansions here and there is not enough for the uber-rich. “Landmaxxing,” or buying up adjacent properties to assemble sprawling private compounds, has been a major part of the ultra-luxury market this year, the Wall Street Journal reported. Compounds are increasingly in demand, and some of the business world’s biggest names are leading the trend. In South Florida, Citadel billionaire Ken Griffin dropped more than $450 million to piece together a 27-acre Palm Beach compound. Griffin has spent more than $1 billion assembling land from Miami to Palm Beach, The Real Deal previously reported. Jeff Bezos has become one of […]

This article originally appeared on The Real Deal. Click here to read the full story.

Shops at Sunset Place owner seeks taxing district to raise $149M

Eman Elshahawy — Wed, 15 Jul 2026 20:30:00 +0000

The long-awaited redevelopment of the Shops at Sunset Place in South Miami is seeking a nine-figure boost for the mixed-use project’s infrastructure. Midtown Development, led by founder Alex Vadia, is requesting Miami-Dade County’s approval to establish a special taxing district that would finance $149 million in infrastructure for its planned 10.2-acre Downtown SoMi mixed-use redevelopment at 5701–5795 Southwest 72nd Street. The developer proposed creating the Downtown SoMi Community Development District, a special-purpose governmental entity that can finance infrastructure and oversee its maintenance within the development. County commissioners are scheduled to consider the proposal during their July 21 meeting. The district […]

This article originally appeared on The Real Deal. Click here to read the full story.

Concrete mogul sells waterfront home in Miami’s Bay Point for record price to West Coast buyer

Katherine Kallergis — Wed, 15 Jul 2026 19:34:25 +0000

Adonel Concrete’s chairman and CEO Luis Garcia sold his waterfront home in Miami’s Bay Point neighborhood for $27.3 million, a deal that’s reflective of the massive transformation the luxury home market has gone through over the past decade-plus. Garcia listed the home at 790 Lake Road for $10 million in 2016, but he also had an offer if a buyer wanted a new house: pay $15 million for it. (Garcia purchased the property for just $2 million in 2012.) Instead, he waited, and it paid off: The post-pandemic market raised prices dramatically as demand skyrocketed for bespoke luxury homes on […]

This article originally appeared on The Real Deal. Click here to read the full story.

Four Seasons Resort Palm Beach, East Miami hotel score refi totaling $546M

Eman Elshahawy — Wed, 15 Jul 2026 18:50:50 +0000

Fort Partners and Blackstone Real Estate separately landed nine-figure refinancing mortgages for hotels in Palm Beach and Brickell totaling $546 million. Blackstone Real Estate, led by Nadeem Meghji, secured $205 million from JPMorganChase for the East Miami hotel at 788 Brickell Plaza, in Brickell City Centre. The New York-based real estate investment giant bought the 352-key last year from Trinity Investments and Certares Real Estate Management for $300 million — marking one of the largest hotel deals in South Florida’s tri-county area. The 536,000-square-foot hotel rises 40 stories and includes 89 serviced apartments, a 20,000-square-foot pool deck, South American eatery […]

This article originally appeared on The Real Deal. Click here to read the full story.

Going down: BH Properties former Lincoln Road movie theater sued for lease enforcement

Francisco Alvarado — Wed, 15 Jul 2026 14:00:00 +0000

A plan to fill the vacant Lincoln Road Regal Cinema movie theater owned by Steve Gozini’s BH Properties with a museum is on the verge of falling apart, according to a recent lawsuit. Superhuman Museum of Modern Art, a concept spearheaded by former Miami Beach mayoral candidate Steve Berke, is suing an affiliate of Los Angeles-based BH Properties to stop the landlord at 1120 Lincoln Road from canceling a 2024 lease stemming from disputes over a roof leak and broken elevators and escalators. In its complaint filed July 3 in Miami-Dade County Circuit Court, Superhuman is seeking a judge’s order […]

This article originally appeared on The Real Deal. Click here to read the full story.

Boca Raton mansion leads Palm Beach County contracts with $19M asking price

Grace McClung — Wed, 15 Jul 2026 13:00:00 +0000

A Boca Raton mansion in the Royal Palm Yacht & Country Club led Palm Beach County’s luxury market last week, landing a contract with a $19 million asking price. Buyers signed 13 contracts totaling $73 million in asking dollar volume between July 6 and July 12, according to a weekly report by Douglas Elliman’s Eklund-Gomes team. The report tracks listings in Palm Beach County above $3 million. The previous report recorded 16 contracts totaling $92 million in asking dollar volume. Eight of the contracts marked pending last week were for single-family homes. They totaled $49.2 million in asking dollar volume […]

This article originally appeared on The Real Deal. Click here to read the full story.

South Florida’s top deals: P. Diddy sells Star Island estate for $55M

Mary Diduch, Veronica Udell — Wed, 15 Jul 2026 12:00:00 +0000

🏆 Residential: The top home sale was on Star Island, where Sean Combs, aka P. Diddy, offloaded an 8,000-square-foot property at 1 Star Island Drive. The buyer was JFStar LLC, led by John A. Franklin of Virginia Beach, who purchased the six-bedroom, eight-and-a-half-bathroom home for $55 million. The disgraced rapper had purchased the home for $35 million in 2021. 📊 Residential: In Jupiter, a home sold for $7.9 million at 158 Spyglass Lane. Dirk Ulrich, a music producer, and his wife, Marina Ulrich, were the sellers. They purchased the home in 2025 for $8.3 million, and have flipped several homes […]

This article originally appeared on The Real Deal. Click here to read the full story.

PTM Partners, Peacock launch subsidy-free workforce housing platform

Grace McClung — Tue, 14 Jul 2026 23:00:00 +0000

Florida-based PTM Partners and Peacock Capital launched Inception Housing, a platform designed to deliver lower-cost housing without relying on government aid. The venture targets middle-income renters earning between 80 and 120 percent of the area median income, cutting development costs by handling much of the design, construction and material procurement in-house, according to a news release. By using a standardized building design and cold-formed steel purchased directly from suppliers, Inception Housing can cut hard construction costs by about 25 percent compared to similar products, PTM Partners CEO Michael Tillman said. The platform’s strategy delivers buildings in six to seven months, […]

This article originally appeared on The Real Deal. Click here to read the full story.

Here’s how Florida’s aging condo stock fared post-Surfside

Katherine Kallergis — Tue, 14 Jul 2026 21:35:41 +0000

The majority of aging condo buildings requiring the most work in the years since the deadly Surfside condo collapse are located in South Florida, a new report shows. The state’s Office of Program Policy Analysis and Government Accountability compiled and analyzed data collected by the Department of Business and Professional Regulation for milestone inspections completed in 2024 and 2025, unveiling the curtain on the state of the aging condo stock in Florida. The inspections are a requirement for condo buildings that are three stories or higher and 30 years or older, or 25 years depending on their municipality and proximity […]

This article originally appeared on The Real Deal. Click here to read the full story.