The JB Team News

April 10, 2017

ArtSquare, a mixed-use development comprised of luxury rentals, retail, and commercial space, has broken ground at 413 North Federal Highway in Hallandale Beach. The Integra Investments project sits on 7.5 acres and is comprised of 358 rental units, nearly 13,000 square feet of retail and commercial space, and 607 parking spots. Residences range from one-to-three bedrooms. Among the amenities are a pool with cabanas; a fitness center; yoga studio; ki...[more]

The Hyperloop One could eventually come to Miami, creating a 26-minute route to Orlando, which would be a fraction of the four hours it would take to drive and less than half the hour it’d take to fly. Of the 2,600 submissions in a global challenge from earlier in the year, among the 11 U.S. finalists is the Miami-to-Orlando route, notes The Verge. The process works by using a linear electric motor to move an electromagnetically levitated pod ...[more]

The $60 million sale of the Jungle Island amusement park on Miami’s Watson Island has closed, and new owner ESJ Capital Partners plans significant improvements to attractions and banquet facilities. PJG Watson Island, led by Bernard Levine, sold the animal-themed park and its 18-acre ground lease with the city to an affiliate of Aventura-based ESJ Capital Partners, led by Arnaud Sitbon and Gabriel Amiel. The deal received approval from the city, ...[more]

March 20, 2017

Photography: Courtesy Frost Science Source: TimeOut Miami Miami doesn’t do anything small—not openings, not constructions and certainly not museums. The soon-to-be-completed Patricia and Phillip Frost Museum of Science—scheduled to open May 8—fits the “size matters” bill for a new local development. The 250,000-square-foot facility sits on four acres of waterfront land and has four distinct buildings: the Aquarium, the Frost Planetar...[more]

Source: Miami Agent Most major cities have Chinatowns – Chicago, Los Angeles, New York. So why not Miami? The City had the same thought last year in February when it passed a resolution designating the stretch of Northwest Seventh Avenue that runs between 119th and 135th Street as the “Chinatown Cultural Arts and Innovation District.” The City is still working on a masterplan for the commercial district, though it unveiled its initial plan...[more]

Source: Miami Herald Once, the Miami Heat played on this five-acre patch. Soon, if all goes according to plan, it will be the construction site for a long-discussed 600,000-square-foot meeting and expo center and 1,700-room Marriott Marquis hotel. Monday, developer MDM Group announced it has closed on the $45 million purchase of the Overtown land once occupied by the original Miami Arena. Old Arena LLC, led by Miami Worldcenter principal Nitin M...[more]

Source: Miami Agent Miami Agent (MA): Many experts believe Miami’s luxury home/condo market is in a bubble. Do you agree? Why or why not? Chad Carroll (CC): I do not view current market conditions as a formal bubble. The issues do not revolve around the banking system, and the existing oversupply of inventory will not drive valuations substantially low because of the market’s global position and competitive pricing relative to other major ma...[more]

March 7, 2017

Miami home prices rose 6.8 percent in December, year-over-year, marking the sixth highest increase in the nation, according to the latest S&P CoreLogic Case-Shiller Index. The newly released report, which tracks 20 major metropolitan areas in the country, shows Miami home prices rose 0.3 percent from November to December. That’s lower than the 0.5 percent increase registered from October to December. Yet the latest year-over-year figure tops t...[more]