Wednesday, March 15, 2023 / by Dave Magua
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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Tuesday, March 14, 2023 / by Dave Magua
Palm Beach County condo sales totaled $255 million in February, slightly higher than January’s $237 million.
Brokers closed 581 condo sales last month, compared with 506 in January, MLS data from Redfin show. Sale prices ranged from $60,000 to $7.4 million, with a median price of $250,000. The price per square foot ranged from $43 to $3,645, with a median of $229.
In January, prices ranged from $55,000 to $21 million, with a median price of $260,000. The price per square foot ranged from $76 to $3,788, with a median of $237.
Sun and Surf, unit 611, at 100 Sunrise Avenue in Palm Beach snatched February’s title of priciest condo sale, with a $7.4 million closing after spending 91 days on the market. Fern Fodiman with Sotheby’s International Realty worked on both sides of the deal. The purchase came to $3,645 per square foot.
That sale price is a significant drop from January’s top sale of $21 million. Robert Garvy, founder and former CEO of Intech In ...
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Wednesday, December 28, 2022 / by Dave Magua
Kolter Urban started building Selene Oceanfront Residences, after scoring a $240 million construction loan for the pair of condominium towers that will be the tallest along Fort Lauderdale’s oceanfront.
The firm is developing the 26-story buildings, with 194 units combined, at 3000 Alhambra Street. Wells Fargo, as an administrative agent for several lenders, boosted a $17.4 million mortgage on the property by $222.6 million, records show.
Kolter Urban launched sales of Selene last year after obtaining final city commission approval for the project in 2020. The 300-foot tall towers will include nearly 6,000 square feet of retail and restaurant space, according to the project’s website. Kobi Karp is the architect.
Led by Bob Vail, Kolter Urban is the condo development arm of Delray Beach-based Kolter Group. The parent company also has subsidiaries focused on single-family homes, multifamily and hospitality, according to its website. Bobby Julien is CEO of. ...
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Tuesday, December 27, 2022 / by Dave Magua
Staging a home for sale may require some extra presale prep, but the time and money reap plenty of rewards. The majority of buyers' agents (82%) said that staging makes it easier for buyers to visualize a property as their future home, according to a survey by the National Association of Realtors. Nearly a quarter (23%) of buyers' and sellers' agents said that a staged home received an offer 1% to 5% higher than a similar home that hadn't been staged and 18% of sellers' agents said the value of a staged home was 6% to 10% higher. In addition, 31% of agents said that staging decreased the days a home spent on the market.
Among the places to stage, living rooms and kitchens are the most popular, followed by the master bedroom, dining room, and home office. Revive provides professional guidance and services to help you and your clients decide which areas to stage before a sale to help buyers see themselves living in a home.
While each home is different, these seven tips offer a startie ...
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Monday, December 26, 2022 / by Dave Magua
The pandemic disrupted Miami residential real estate in extraordinary fashion, dramatically inflating prices and demand for housing and forever altering the way people think about work, education and lifestyle. At the peak of this unprecedented cycle, bidding wars erupted as soon as listings hit the market, to the spectacular benefit of sellers and agents like me.
But this cycle was never sustainable and has obviously come to a bumpy end. Data clearly shows that the great rush has been over for months, with today’s Miami buyer pool cutting a sharply different profile. Last year, they were making quick decisions; now, they are much less desperate and infinitely more discerning. Time and patience have taught them that they don’t need to be tied down to any particular location, and decision-making has become more difficult. Economic concerns about interest rates, jobs, the stock market and a looming recession that did not exist in 2020 and 2021 are also major factors. Todayk ...
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