South Florida - The Real Deal

Moishe Mana inks $33M in downtown Miami deals in 10 days

Eman Elshahawy — Fri, 31 Jul 2026 22:08:35 +0000

Downtown Miami’s largest landowner Moishe Mana just made his portfolio even bigger, adding $33 million worth of properties within 10 days. Mana’s firm, Mana Common, paid $20.3 million for the 35,550-square-foot Historic U.S. Post Office Building at 100 Northeast First Avenue and the adjacent 15,000-square-foot development site at 54 Northeast Second Street, according to a broker’s news release. The firm spent $12.6 million on July 21 buying 23 commercial condos on the first two floors of One Flagler at 14 Northeast First Avenue, where First American Bank operates on the ground floor. The price amounts to $548,000 per unit. Affiliates […]

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DeSantis’ property tax cut faces legal challenge over ballot language

TRD Staff — Fri, 31 Jul 2026 20:30:00 +0000

Gov. Ron DeSantis’ push to kill property taxes for most Floridians is in the hot seat after a group went to court, alleging the ballot title and language could dupe voters. A Leon County Circuit Court judge heard arguments Wednesday from three groups, including former local government elected officials and a former Republican legislator, who argued the title and ballot summary approved by the GOP-led Legislature in June use “emotional and political rhetoric” designed to sway voters, News Service of Florida reported. The suits were brought by the nonprofit Save Our Voters From Misleading Ballot Language, former Stuart Mayor Thomas […]

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Hollywood proposes upping building heights near historic hotel as coastal cities reevaluate regulations

Lidia Dinkova — Fri, 31 Jul 2026 20:17:57 +0000

Hollywood is poised to relax some of its development rules to allow oceanfront towers in the area where BH Group and Related group have a historic hotel under contract. The city is considering an overhaul that could bring up to 340-foot projects under restrictive regulations near the historic Hollywood Beach Resort. The rest of Hollywood Beach would remain primarily low-rise. The proposed Hollywood Beach Overlay District would create six development precincts, each with its own height and density standards. The city only would grant the development bonuses to projects that meet specific design guidelines. The Hollywood Planning and Development Board […]

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Kent Security sues developer Michael Stern over unpaid bills

Katherine Kallergis, Matthew Elo — Fri, 31 Jul 2026 15:36:17 +0000

The Alexander family’s Kent Security is looking to collect on unpaid bills, and its latest target is developer Michael Stern. North Miami Beach-based Kent, which is owned by Orly and Shlomy Alexander and Orly’s brother Gil Neuman filed a lawsuit this week against Stern for $127,697.64, plus prejudgment interest. Stern is founder and CEO of JDS Development Group, which counts the stalled Mercedes-Benz Places and the planned 888 Brickell among its condo projects in Miami. The firm also completed Monad Terrace in South Beach. Stern hired Kent to provide armed security guards to his waterfront Miami Beach home starting in […]

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Kimco’s $109M grocery-anchored shopping spree picks up Publix, Walmart centers in Broward

Eman Elshahawy — Fri, 31 Jul 2026 14:00:00 +0000

Kimco Realty went on a $109 million grocery-anchored shopping spree in Broward County, picking up a pair of retail centers from KPR Centers. The Jericho, New York-based real estate giant dropped $56 million for Sunshine Plaza in Tamarac and $53 million for Pompano Marketplace in Pompano Beach, records show. The larger deal was for Sunshine Plaza, a 245,700-square-foot shopping center at 4017-4299 West Commercial Boulevard built in 1972. The center is anchored by Publix and Marshalls, with 24 Hour Fitness, Krispy Kreme and Subway among its tenants. KPR bought the property for $28.5 million in 2014, nearly doubling its investment. […]

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Final member of $6M-plus insurance fraud ring sentenced to nearly 4 years

Lidia Dinkova — Fri, 31 Jul 2026 13:00:00 +0000

A Davie woman pleaded guilty for her role in a $6.6 million insurance fraud con and will serve nearly four years in prison, ending the unraveling of a massive scheme that spanned South Florida and the rest of the state. Lisette Patricio, 64, was sentenced to three years and nine months followed by five years of supervised release after she pleaded guilty to conspiracy to commit bank fraud and filing false tax returns, according to a judgment and her agreement to the facts of the case. Her sentence is a reprieve from the penalty she could have faced, as the […]

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South Florida’s top deals: Kimco buys Broward shopping centers for $109M

Mary Diduch, Veronica Udell — Fri, 31 Jul 2026 12:00:00 +0000

🏆 Residential: Fort Lauderdale had the priciest home sale recorded in South Florida. A company managed by Michael D. Snyder, founder and CEO of MDS Energy Development, parted with the home at 340 San Marco Drive for $9.5 million. The buyer was a company tied to Margaret Yu and Thomas Lee. The property last sold for $3.6 million in 2023. Built this year, the home spans 6,900 square feet, pricing the sale at $1,400 per square foot. Chad Carroll with Compass represented the seller. 🏆 Commercial: The most expensive commercial real estate deal to hit records was in Broward County, […]

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“Reckless”: Lawsuit accuses Madison Realty of negligence and financial mismanagement at downtown Miami condo-hotel tower

Katherine Kallergis — Thu, 30 Jul 2026 21:31:17 +0000

Madison Realty Capital is being accused of financial mismanagement, negligence and more over its handling of a downtown Miami condo-hotel tower, according to a lawsuit. The situation is so dire that the Marquis Miami Condominium Association is asking a judge to appoint a receiver to take over control, the lawsuit alleges. The association is suing New York-based Madison, its affiliates, the former owner’s entities, Think Hospitality and the Marquis Master Association. Think Hospitality manages the hotel component of the property at 1100 Biscayne Boulevard. Madison, led by managing principal and co-founder Josh Zegen, acquired the hotel via a UCC foreclosure […]

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Hip hop mogul Rick Ross adds “developer” to resume in Miami Gardens

TRD Staff — Thu, 30 Jul 2026 21:30:00 +0000

The rapper whose hit single “Hustlin’” debuted two decades ago is bringing his hustle to real estate development. Rick Ross joined the development team of EnSima, an eight-story 670-unit residential project in Miami Gardens, Bisnow reported. The Grammy-nominated artist is partnering with EnSima Miami I, led by Shalom Arik Maimon, Ali Yesil, David Shapiro and Lior Suchard. The design team includes Italian firm Pininfarina, known for designing some of Ferrari’s most iconic cars. TerraForm Development was tapped to lead construction, the outlet said. The project, announced in March for an undisclosed site near Hard Rock Stadium and Miami International Autodrome, […]

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Florida REIT accused of fraud, spending investor money on jets, jewelry, gun ranges, adult clubs

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

A Port Richey-based real estate investment trust and its founders are under fire for allegedly swindling $5 million from a $152 million real estate fund and spending it on expenses like jets, jewelry, gun ranges and adult nightclubs. The SEC filed charges on July 29 in the U.S. District Court for the Middle District of Florida in Tampa against RAD Diversified REIT, Brandon “Dutch” Mendenhall and Amy Vaughn, who are accused of defrauding small investors. According to the SEC’s complaint, the REIT allegedly raised the funds from more than 5,500 investors across the country through unregistered securities offerings between November […]

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