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South Florida Business Journal
Lennar moves forward with plans for massive community in this state
Lennar Corp.'s investment in Texas continues to grow with plans for a large community from the city's biggest builder. <\p> Miami homebuilder Lennar (NYSE: LEN), which boasts almost a quarter of new home starts in San Antonio, is moving forward with the second phase of a 556-unit subdivision in Elmendorf called Stone Garden. <\p>
Philanthropist and businesswoman Susie Levan dies at 73
Susie Levan, a multifaceted philanthropist and businesswoman from Fort Lauderdale, has died from cancer at age 73.<\p> A champion of women’s empowerment, Levan dedicated 30 years of her life to nonprofit organizations in Broward County.<\p>
CEO sees Fort Lauderdale neighborhood emerging as retail hotspot
A Fort Lauderdale commercial area is attracting businesses thanks to its close proximity to other hot neighborhoods and relative affordable rents, a broker said.<\p> Native Realty CEO Jaime Sturgis said Studio City, formerly known as the 13th Street Neighborhood, draws both trendy local businesses and corporate chains since it's near the city of Wilton Manors and Fort Lauderdale's Flagler Village area.<\p>
City approves $55M project for new YMCA, hospital facility
Fort Lauderdale officials approved a lease for the YMCA of South Florida and Broward Health to build a joint facility at Holiday Park.<\p> The $50 million-plus project would total 60,000 square feet next to the Parker Playhouse. It would have 46,000 square feet for a YMCA athletics and aquatics center with a six-lane pool plus 12,000-square feet for a Broward Health free-standing emergency center. It would have full emergency department services, including imaging and lab work, on site. <\p>
Former owner of Bucky's stores sells oceanfront mansion for $50M
Steve J. Buchanan, who sold the Bucky’s convenience store chain in 2021, and wife Samantha Buchanan, sold their oceanfront mansion in Highland Beach for $50 million.<\p> The 13,996-square-foot home at 2455 S. Ocean Blvd. was purchased by 2455 South Ocean Blvd., a Delaware-registered company in care of local attorney Scott A. Elk. The off-market deal traded for $3,572 per square foot.<\p>
Stockbroker who cofounded Chicago trading firm buys island mansion
Dino Verbrugge, the co-founder of derivatives and securities trading firm DV Trading, and wife Trisha Verbrugge paid $17.35 million for a mansion on the Venetian Islands in Miami.<\p> Jerome A. Peribere, the former president and CEO of Sealed Air Corp., and wife Isabelle G. Peribere, who runs an interior design firm, sold the 6,613-square-foot home at 1378 S. Venetian Way. Dina Goldentayer of Douglas Elliman brokered the deal.<\p>
Closed Red Lobsters: What could happen next?
After a Red Lobster in Hialeah was among dozens of restaurant locations to shutter nationwide, the question becomes: What happens to all that real estate?<\p> Bloomberg reported on April 16 that Red Lobster is considering filing Chapter 11 bankruptcy protection. Meanwhile, an April 25 CNBC report states the iconic restaurant chain is seeking a buyer. Red Lobster hasn’t confirmed either report.<\p>
Local Red Lobster closes as chain downsizes amid bankruptcy reports
Dozens of Red Lobster locations have abruptly closed throughout the country, including one in Hialeah.<\p> The seafood restaurant, which is located across from the Westland Mall at 1750 W 49th St., closed on May 13. Red Lobster updated the restaurant’s hours on its company website and the location’s phone line no longer works. <\p>
Gelato maker supplies Whole Foods, Publix and more from Miami factory
Polite persistence can pay off, especially in business. Just ask Gelatys founder Adolfo Heller Cohen. <\p> After a career as an industrial engineer in Chile, Cohen moved to Miami in 2017 to launch a gelato business. He started with kiosks at a handful of local shopping malls, with the goal of eventually opening 100 retail locations. <\p>
Citi Foundation donates $5M to 5 South Florida nonprofits
The Citi Foundation donated $5 million to five South Florida nonprofits that focus on local efforts to increase economic opportunity in the community.<\p> The corporate philanthropic arm of the New York-based bank (NYSE: C) revealed May 14 that it provided each of the five organizations with $1 million in unrestricted funding over three years as well as access to a learning community and network of its "Community Progress Makers" initiative across the country. <\p>
Growing share of real estate agents weigh leaving their brokerages
The Covid-19 pandemic and a recent wave of class-action lawsuits have pushed more real estate agents to consider leaving their brokerages.<\p> Those findings, from the latest annual Agent Priorities Report from Coldwell Banker Real Estate, found while 61% of agents surveyed plan on sticking with their company this year, that’s down from 75% in 2023.<\p>
Billionaire family sells island mansion for $51M (Photos)
David E. Gochman, a member of the billionaire family that founded Academy sporting goods in Texas, and wife Becky Gochman sold an oceanfront mansion in Palm Beach for $51.25 million.<\p> The 5,819-square-foot home at 200 S. Ocean Blvd. was purchased by WPB Investments 1 LLC, a Delaware-registered company care of local attorney Bradley McPherson. Jim McCann of Premier Estate Properties represented the seller in the deal, while Phatavanh Olsen of Douglas Elliman worked with the buyer. <\p>
Community bank names new CEO, president
A Coral Gables-based community bank hired a new chief executive after its previous leader stepped down, leaving the role dormant for months. <\p> International Finance Bank (IFB) named Abel Iglesias as its CEO and president effective May 14. The former CEO and South Florida market leader of Professional Bank succeeds Jose E. Cueto, who joined Grove Bank & Trust as its CEO and president earlier this year. Cueto served over eight years in the role, and IFB was led by the bank's chairman Carlos Singer and EVP and CFO Sonia Canessa-Gonzalez during the months the bank was searching for a replacement. <\p>
New York company plans pair of hotels near airport
New York-based hotel owner MCR has proposed two new hotels surrounding its Hilton Miami Airport Blue Lagoon.<\p> M2 Miami Airport Blue Lagoon, care of MCR, filed a pre-application with Miami-Dade County officials concerning the 20.6-acre property at 5101 Blue Lagoon Drive. It currently has a 14-story, 508-room hotel that was developed on the waterfront site in 1983. <\p>
Hialeah multifamily complex with over 100 apartments sold
The San Sherri Apartments in Hialeah sold for $20.61 million.<\p> San Sherri Partners and Freshwater Group, both managed by Alfred Sayegh in Brooklyn, sold the 108 apartments at 1330 and 1310 W. 29th Street, plus 1345 W. 28th Street to Plaza Gardenia LLC, managed by David Gorson of Miami's Coconut Grove-based Vantage Capital Partners. <\p>
Cruise giant adds home port in island territory
Princess Cruises will sail its Grand Princess ship from Puerto Rico next year.<\p> The Santa Clarita, California-based cruise line, which is a subsidiary of Miami-based Carnival Corp. & plc (NYSE: CCL), announced San Juan will serve as the ship’s home port from Oct. 12, 2025, through March 29, 2026. <\p>
Airline credit-card reward programs in regulators' crosshairs
The nation's major airlines are drawing heat over their branded credit-card reward programs, with federal regulators targeting consumer complaints that claim many perks don't live up to the hype and sometimes cost more than they are worth. Those findings...
Warehouse near Miami River could be redeveloped
H&M Development aims to build a self-storage facility on the north side of Little Havana.<\p> Miami’s Urban Development Review Board will consider plans for the 27,160-square-foot site at 2210 N.W. 14th Street, just south of the Miami River, on May 15. It currently has a 12,433-square-foot warehouse constructed in 1979. Tenants include a cargo shipping company, a religious bookstore and a party rental store, according to the application.<\p>
Emirates to launch local flights to Latin American hotspot
Emirates will launch a new daily service to Bogotá, Colombia, from Miami International Airport. <\p> The Dubai-based airline’s inaugural flight to the Latin American hotspot is scheduled for June 3. <\p>
Toronto developer plans 60-story tower in downtown Miami
Toronto-based Blutrich Holdings, led by Gil Blutrich, has proposed a 60-story residential tower in downtown Miami.<\p> The city’s Urban Development Review Board will consider plans for Clear Residences on the 0.55-acre site at 130 S.E. First St. and 153 S.E. Second St. on May 15. Blutrich has the parking lot under contract from Clear Communities Miami South LP and Clear Communities Miami North LP, both managed by Meir Shai Ben-Ami in Miami.<\p>
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