Related, Terra in talks to buy out waterfront condo next to Mandarin Oriental site
The Pérez family’s Related Group and David Martin’s Terra are negotiating a condo buyout with owners at a waterfront building on Miami’s Brickell Key, signaling the next wave of redevelopment for the man-made island, The Real Deal has learned. A buyout of the 134-unit building at 800 Claughton Island Drive would likely exceed $1 million per unit, with one source pegging the price closer to $1.5 million per unit, or roughly $200 million for the entire building. The two firms have been in talks with owners at the St. Louis for months, and a deal could close next year, sources […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Builders don’t have a rate problem, they have a reliability problem
The Love Nest Is Dead—Why Fewer Young Married Homeowners Signal a Major Economic Shift
California’s Billionaire Tax Doesn’t Include Homes—Here’s How Much Wealthy Residents Like Mark Zuckerberg Could Save by Making Key Change
‘Didn’t see that coming’: Real estate brokers react to Real-REMAX deal
Los Angeles Rents Hit 3-Year Low—but Most Residents Still Can’t Afford Them
UWM adds VantageScore alongside FICO for conventional loans
Coinbase exec buys lot on Miami Beach’s La Gorce
ERA Real Estate affiliates form new billion-dollar-plus partnership in California
Housing starts overachieved in March amid warning signs aplenty
Lombardi, Fox Farm jump on spec suite trend with Wynwood office project
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131