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Cervera Real Estate Sells Out All 525 Condominium Residences at 900 Biscayne Bay
Terra Group’s 900 Biscayne Bay luxury residences are now completely sold, which marks the highly-anticipated sellout of the property that played such an iconic role in the revitalization of the area comprised of American Airlines Arena, Bicentennial Park and the Adrienne Arsht Center. Cervera Real Estate served as the exclusive broker for the project since the project’s inception, and maintained s ...
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Condo Sales at Lowest Level Since 2008, But Could Be Worse
Condominium sales activity in the Washington metropolitan area has dropped to its lowest level since 2008, but there is a big difference in market conditions today compared with those at the start of the housing meltdown.
There are 2,950 new units being marketed or under construction, compared with 8,833 units in the third quarter 2008. As a result, there is a two-year inventory of units today, c ...
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Condo Seller Can Not Evade Disclosure Requirement
A condominium developer violated federal consumer protection law by failing to provide purchasers with a property report prior to their execution of purchase agreements, the 11th Circuit has ruled in affirming judgment.
The plaintiffs purchased luxury condominiums from the defendant. Their properties were part of a planned 126-unit development.
The plaintiffs later sued, alleging that the defend ...
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Developer of Royal Plaza Condo Building in Downtown Boise Sued Over loan
A mortgage company is suing the developer of the Royal Plaza condo building in downtown Boise over a promissory note it says is in default.
Intervest Mortgage Investment Co. Inc. on Sept. 9 sued R.S. Hosac Inc. and its principals in Ada County Fourth District Court in Boise, seeking more than $5 million including interest and fees. Intervest, a Sterling Savings Bank subsidiary, claims it is owed ...
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Drowsy Retail Condo Market Shows Some Life
RETAIL CONDOMINIUM SALES are picking up slightly from activity levels plumbed during the downturn, but buyers remain price-sensitive. Last week, the ground-floor retail space at the Apthorp, on the Upper West Side, sold to William Friedland Co. for $37 million, or $2,500 a square foot. And Beck Street Capital announced in December that it had sold its Bleecker Street retail portfolio for $34 milli ...
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OKC-Based Macco Properties Fights Sales in Bankruptcy Court
A bankruptcy trustee for embattled Macco Property Inc.’s vast real estate holdings wants to sell some of the property off, including a luxury high-rise condominium in Dallas valued at more than $2.5 million and several run-down apartment complexes in the metro area.
Macco Properties’ owner, Jennifer Price, wife of Macco President Lew McGinnis, is fighting the sales in U.S. Bankruptcy Court.
Pric ...
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Residential Condo Experts Expand Into Commercial Marketplace
Pordes Residential Sales & Marketing has opened a commercial division, Pordes Commercial, that capitalizes on the firm's unique skills in positioning properties and bulk sales. The company is bringing on several new agents and selling more properties than any other firm in the market.
Pordes has extensive experience in complex, large-scale commercial transactions. The company brokered the $12 ...
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Sales Are Soaring at Trump Hollywood Oceanfront Condominium
Trump Hollywood, the newest luxury oceanfront condominium in Hollywood Beach, Fla., is riding a wave of sales success. In the past three months, 19 residences totaling more than $25 million have been sold, according to Daniel Lebensohn, BH III LLC ("BH3") Managing Partner, the property's new owner and developer.
Trump Hollywood was acquired in late 2010 by BH3, a successful South Florida-based re ...
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SL Green Realty Corp Announces Sale of Retail Condo Units
SL Green Realty Corp. (NYSE: SLG) and its joint venture partner Jeff Sutton today announced an agreement to sell two retail condominium units at 141 Fifth Avenue for $46 million.
The two retail condominium units being sold represent all of the interests owned by the joint venture including the entire grade and a portion of lower level space, encompassing approximately 9,860 square feet in a luxu ...
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