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South Florida Business Journal
16 boutique apartment buildings sell for $15.5M
A portfolio of 16 boutique apartment buildings in Hollywood sold for a combined $15.54 million, according to Marcus & Millichap.<\p> Lomar Property Group, managed by Bruce M. Gottlieb in Hollywood, sold 84 apartments in multiple locations just north of Hollywood Boulevard and east of the Presidential Circle office building/roundabout, to Pulso Hollywood LLC, managed by Maor Benami in Fort Lauderdale and Salomon Kamkhaji in Fort Lauderdale. The price equated to $185,000 per unit. <\p>
Nonprofit partnership boosts education, jobs in this industry
As a child growing up in Kenya, Beryl Ogola would take apart dolls and household items just to put them back together again. <\p> Now, six years after coming to the United States to attend Florida Memorial University, Ogola, 28, is advancing her love of mechanics as a student at the Barrington Irving Technical Trade School (BITTS) in Opa-locka.<\p>
Regional bank files $5.6M foreclosure over commercial property
A combination Mobile gas station, Budget car rental center and Firestone tire repair shop west of Boynton Beach has been targeted in a $5.55 million foreclosure lawsuit.<\p> Miami-based City National Bank of Florida filed a foreclosure complaint June 6 against West Boynton Auto Services, Spanish River Service, J&L Services of Palm Beach and loan guarantor Jay Charles Seewald of Pompano Beach. It concerns the 6,192-square-foot gas station and service center at 7450 Boynton Beach Blvd. Property data firm Vizzda confirmed the parties involved. <\p>
Local chef wins James Beard Award after launching restaurant last year
Founder and Chef Valerie Chang of Maty's Miami won the top honor in her regional category at the 2024 James Beard Foundation Restaurant and Chef Awards. <\p> The New York-based culinary arts organization named Chang best chef of the southern U.S. – the category included nominees from Alabama, Arkansas, Florida, Louisiana, Mississippi and Puerto Rico.<\p>
37-story Live Local Act project planned with 3,200 housing units
Real estate investors submitted plans under the Live Local Act to build 3,233 residential units on 12 acres of land in the unincorporated West Little River area in Miami-Dade. <\p> The property at 8400 N.W. 25th Ave. is owned by North Miami-based 27th Ave HollandPark EcoreResidences LLC, managed by Coconut Grove attorney Javier Banos Machado and real estate investor Pablo Castro . The limited liability corporation acquired the expanse of land for $29.3 million in November 2023 from Elizabeth Gardens of Miami LLC, managed by Lisa Ramos and Lisette Nunez in Miami.<\p>
Miami tax preparer sentenced to prison, ordered to pay $4M
A South Florida tax preparer was ordered to pay millions of dollars in restitution and sentenced to prison for aiding and assisting the preparation and presentation of false tax returns.<\p> The U.S. District Court for the Southern District of Florida announced that Jean Wesner Pierre Louis of Miami will forfeit over $4 million and serve up to two-and-a-half years in federal prison, followed by one year of supervised release, after the 52-year-old pleaded guilty to preparing tax returns for his clients that falsely claimed certain credits.<\p>
Lennar plans to build housing community on 19 acres of farmland
Lennar Corp. (NYSE: LEN) wants to change the land use of an agricultural site in the Princeton neighborhood of Miami-Dade County to build 320 multifamily units.<\p> The Miami-based developer filed a comprehensive development master plan (CDMP) amendment with county officials for the 19.35-acre site at the southeast corner of Southwest 240th Street and Southwest 127th Avenue. Lennar has the property under contract from Jen Holdco 24 LLC, an affiliate of New York-based land bank Jen Partners.<\p>
Miami Beach site sells for $20M, 7-story hotel planned (Photos)
A developer purchased a mixed-use building in Miami Beach for $20 million, with plans to replace it with a hotel.<\p> Washington Gardens Inc. and Washington Gardens MB LLC, both managed by James Resnick in Miami Beach, sold 1509 and 1515 Washington Ave. with a 11,458-square-foot retail building and a 13-unit apartment building to 1515 Washington Acquisition LLC, co-owned by Xaver Kriechbaum and Gavin Crescenzo of Aventura-based Keyah Real Estate Group. The deal included $15 million in seller financing. The land totals 0.63 acres.<\p>
Falcone Group sells Broward development site
New York-based AMAC and Miami-based ROVR acquired an apartment development site in Pompano Beach for $13.5 million.<\p> Sentosa Pompano LLC, an affiliate of Boca Raton-based Falcone Group, sold the 6.2-acre property at 3151 N. Federal Highway to 3151 NF Owner LLC, a partnership between AMAC, led by Maurice Kaufman, and ROVR, led by Oscar Rodriguez and Ricardo Vadia. Property data firm Vizzda confirmed details about the deal.<\p>
Homebuilder buys 225 lots in Avenir community
GL Homes expanded its development footprint in the Avenir community of Palm Beach Gardens with a $23.5 million acquisition.<\p> Avenir Development LLC, an affiliate of Miami-based Landstar Development Group, sold 225 home lots in the burgeoning community to Palm Beach West Associates V, an affiliate of Sunrise-based GL Homes. The homebuilder also agreed to pay the seller $18,861 as an “Avenir Improvement Fee” upon the sale of each new home to residents. <\p>
Broward group outlines plan to bring more businesses to the county
Branding is everything – especially when it comes to recruiting new businesses to South Florida. <\p> The Greater Fort Lauderdale Alliance reports it will lean into marketing campaigns in 2025 in a quest to bring more companies to Broward County. The Alliance, Broward County's economic development partner, outlined its goals for the coming year in a business plan that will be up for approval at the Broward County Commission on June 18. <\p>
The National Observer: Here's where the money lives
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today,y we've got stories on the rising number of towns in which the median home costs more than $1 million; the interest office tenants are taking in their landlords' financial situation; and plans for a multibillion-dollar supercomputer complex by Elon Musk. But first, here's our inaugural list of the ZIP codes with the greatest concentrations of wealth in the U.S.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Car wash company opens new facility as part of $150M expansion
A Palm Beach Gardens-based car wash company is expanding in Palm Beach County, where it aims to operate 50 locations.<\p> Mint Eco Car Wash and Detail Center opened its fifth location at 5577 Okeechobee Blvd, just outside of Century Village in West Palm Beach, on May 31, said Maria Teixeria, the company's marketing director. About 20 people work in the 43,000-square-foot building, including a general manager, an associate general manager, detail supervisor, concierge supervisor, concierge staff, and a detailing staff, she added. <\p>
Big deadlines loom for Realtors commission lawsuits
The class-action lawsuits that rocked the residential real estate industry over the last year are barreling toward a possible conclusion — and some big changes in the remainder of 2024. <\p> One of the most important deadlines is Aug. 17, 2024, when the NAR has said it would implement a series of changes as part of its own $418 million settlement agreement over buyer commissions. <\p>
Developer seeks incentives for affordable housing in Broward
Landmark Cos. is seeking incentives to build affordable housing for seniors just west of Fort Lauderdale.<\p> Boulevard Gardens would be located on the 1.71-acre site at Nine Northwest 27th Ave., at the northeast corner of Northwest 27th Avenue in an unincorporated area of Broward County. Located just north of Broward Boulevard and west of the new Broward County Sheriff’s complex, the property currently has a few small residential buildings. Garden Place Ltd., an affiliate of Landmark Cos., has the land under contract from Lauderhill-based Loretta London LLC.<\p>
Red Lobster could close 6 more local restaurants amid bankruptcy
A recent filing in the Red Lobster bankruptcy case showed the Orlando-based restaurant chain may have to close 120 more restaurants nationwide, including another six in South Florida.<\p> Before the seafood chain filed for Chapter 11 bankruptcy, the company shuttered a restaurant in Hialeah.<\p>
555 apartments proposed near medical centers in Hialeah
Benjamín León, Jr., the founder of Leon Medical Centers, has proposed a multifamily building next to his health care facility in Hialeah.<\p> The city council will consider the land use amendment for the four-acre site at 555 East 25th Street, plus 502 to 552 East 26th Street on June 11. Currently with a parking lot for LMC employees and vacant land, the property is owned by 555 East 25th Street LLC, which belongs to León. <\p>
Local company wins $14M contract for cannabis cultivation facility
The U.S. green rush is good news for Coral Gables-based DAG. <\p> The company entered into a $14 million contract to expand a marijuana cultivation facility for Ascension Biomedical in Oberlin, Ohio. DAG will add 27,314 square feet to the existing location, which will total 46,642 when the project is completed. <\p>
Aviation company could create 88 high-paying jobs in Broward
Broward County and the city of Miramar may offer up to $105,000 for an aviation company to open a regional headquarters and create 88 new jobs over the course of six years. <\p> Called Project Sawgrass, the incentives will be offered to an anonymous company that will invest about $10 million in a 63,860-square-foot facility in Miramar that will create 88 jobs between 2025 and 2031 that pay an average of $75,993 a year.<\p>
Chairman of South Florida's largest private company dies
Harvey Chaplin, the chairman of Miami-based Southern Glazer’s Wine & Spirits, the largest private company in South Florida, died on Sunday at 95.<\p> The self-made patriarch of a billionaire family, Chaplin was born in the Brownsville section of Brooklyn, New York in 1929. He started in the spirits industry in his early years, working part-time in the mailroom of Schenley Industries. In 1969, he joined Southern Wine & Spirits and served in numerous executive roles before becoming chairman and CEO in 1994. After the company merged with Glazer’s in 2016, he was named chairman of the combined company.<\p>
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