Category: Real Estate
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First lot from former John Kluge estate sells for $6.99M
[dropcap]S[/dropcap]ir Peter Wood got $6.99 million for selling the first of five lots in Palm Beach he subdivided from the estate of late billionaire John Kluge. Wood sold the 20,361-square-foot lot for approximately $343 per square foot to a Palm Beach couple who own an oceanfront home adjacent to the lot. The lot had been…
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Florida’s risky real-estate game is protected by a billion-dollar insurance industry — but that could soon change
[dropcap]A[/dropcap]fter dodging the worst of Hurricane Irma, Florida’s coastal real estate boom shows no signs of slowing. In Miami and nearby waterfront cities, a survey of local records show that more than 90 luxury high-rise apartment blocks are under construction or have been completed since 2015, increasingly financed by overseas investors looking for “safe” opportunities…
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The former CEO of Cachet Hospitality Group says he was canned for investigation into sexual harassment. But firm says allegations are a “sideshow.”
[dropcap]T[/dropcap]he former CEO of Cachet Hospitality Group has sued the firm, alleging he was wrongfully terminated in an effort to prevent him from conducting an investigation into sexual-harassment claims against its partner on the upcoming Playboy Club-anchored hotel in New York, Adam Hochfelder. Cachet, however, says the former CEO, Alexander Mirza, was fired for cause,…
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Peebles and Elad settle their spat over Clock Tower project in Tribeca
[dropcap]P[/dropcap]eebles and Elad (The Peebles Corporation and Elad Group) settled a legal dispute that threatened to derail their $400 million-plus Clock Tower condominium conversion in Tribeca, the companies announced Wednesday. Peebles will keep its minority stake, while Elad “will continue managing the development,” a spokesperson said, declining to comment further. Peebles sued Elad in January…
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HPD sues East Harlem landlord over outstanding violations
[dropcap]A[/dropcap]n East Harlem landlord accused of operating a hazardous building is being dragged before a judge.(Photo Credit: Google Maps) The Department of Housing Preservation and Development is suing George Zayas, the managing agent at 231 East 117th Street, in an attempt to force him to correct numerous violations and pay thousands of dollars in fines,…
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850 Boca hits the market, broker predicts it could fetch more than $125M
The new multifamily project 850 Boca in Boca Raton is hitting the market unpriced, according to a release. 850 Boca, From left: Jim Carr, Armando Codina (Credit: Cushman & Wakefield, Codina Partners) The 370-unit apartment complex is one of the first residential projects to be developed at The Park at Broken Sound, a 700-acre planned mixed-use…
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Florida Lounge will go back to Rio soon!
After the very successful first edition and some requests, the One Investment Group decided to take Florida back to Rio de Janeiro.