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#newconstruction | Dave Magua Group Blog

Wednesday, March 15, 2023   /   by Dave Magua

TPA pays $36M for Industrial Dev Site in Palm Beach County

TPA Group bought an industrial development site west of Loxahatchee Groves for $36 million. 
The Atlanta-based firm bought nearly 60 acres of land at 20305 State Road 80, in an unincorporated area of west Palm Beach County, from an affiliate of mining company Palm Beach Aggregates, according to records and real estate database Vizzda. TPA took out a $10 million loan from the seller. 


The purchase breaks down to nearly $603,000 per acre. 
TPA also has the right of first refusal to purchase another 37 acres nearby, according to records.
Palm Beach Aggregates is a mining company that also has interests in waste wood processing and owns land leased for sugar cane growing, its website shows. The firm, based in Palm Beach County and led by Enrique Tomeu, mines aggregate source material that’s used in construction.
In 2019, Palm Beach Aggregates filed an application to the county for an industrial project on 138 acres, including the land that traded. It would hav ...

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Wednesday, December 7, 2022   /   by Dave Magua

Aria, Merrimac nab Miami Worldcenter site for $18M

Aria Development Group and Merrimac Ventures are planning a new Miami Worldcenter condominium project after acquiring a redevelopment site for $17.5 million.
The joint venture acquired the International Longshoremen’s Association’s former Miami headquarters at 33-55 Northwest Sixth Street for $11 million from the labor union, records show. Aria and Merrimac also bought an adjoining vacant parcel for $6.5 million from an affiliate of Miami Worldcenter master developers Art Falcone and Nitin Motwani, according to a press release. The assemblages totals 1.2 acres.
A Colliers team led by Mika Mattingly and Jack Lowell represented Aria and Merrimac, which opened sales for 600 Miami Worldcenter this month. Plans call for a 32-story tower with roughly 600 fully furnished units with no restrictions on short-term rentals, according to online brochures. Prices start at $395,000 and OneWorld Properties is leading sales for the project.
Miami-based Aria, led by princi ...

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Tuesday, November 22, 2022   /   by Dave Magua

The 6 kitchen design wishlist features from buyers who love hosting.

With the holiday season approaching, there’s no better time to create a welcoming atmosphere

The season for gathering is almost here, but those who love to entertain year-round know the enduring importance of the right space for hosting. Whether it’s a dinner-party soirée or an intimate gathering with family, the kitchen inevitably becomes the center of attention — so it’s only natural that kitchen design is top of mind. To stay on top of what buyers are asking for, here are six highly coveted kitchen design features that make hosting a joy.

 

 

 An open floor plan for ease of movement

Buyers want a kitchen that instantly feels like a room they can entertain in. That means it should be spacious and open, rather than closed off and difficult to navigate when there are lots of guests. A natural flow from kitchen to the dining area to living room makes simultaneous preparation, serving, and entertaining a breeze for any type of e ...

  #newconstruction, sell my home, property insurance, kitchen design, hosting., 2023

Thursday, July 21, 2022   /   by Dave Magua

Home sales fall for 5th month as median prices hit record high

Sales of existing homes ticked down 5.4% between May and June, falling 14.2% from a year ago, as median prices rose to $416,000, according to the National Association of Realtors.
Existing home sales slid for the fifth straight month in June, according to data released Wednesday, marking the latest sign of significant cooling in the housing market.
Sales of existing homes ticked down 5.4 percent between May and June, and were down 14.2 percent from a year ago, according to data released Wednesday by the National Association of Realtors.
Meanwhile, the median price of an existing home climbed 13.4 percent from June 2021, hitting a new high of $416,000, and the inventory of unsold existing homes climbed to 1.26 million by the end of June, the equivalent of a 3 month supply at the current sales pace, an increase from the 2.6 month supply recorded in May — a sign more buyers are pulling back from the market, according to experts.
“Falling housing affordability continueE ...

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Tuesday, March 8, 2022   /   by Dave Magua

Home Prices Set Records Ahead of Spring Buying

March 3, 2022



Spring may have sprung early in the housing market. The U.S. median list price set a record high of $392,000 in February, according to realtor.com®’s Monthly Housing Trends Report. Many markets continued to post double-digit annual price gains, led by Las Vegas, Miami, and Tampa, Fla., with annual increases of at least 31% each.

“Over the last five years, we have seen home prices break records early in the season as buyers try to get ahead of the competition,” says Danielle Hale, realtor.com®’s chief economist. “But this is the first time the record has been broken in February, signaling that competition is already heating up weeks before the start of the spring buying season in a typical year.”
The number of homes for sale remains at record lows. But home buyer demand remains high and home prices are surging as a result of competition for low housing inventories. Hale says a slight improvement has been made on ; ...

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