South Florida Real Estate News | Linda Dunphy Realty Group

The Real Deal Miami

Head of NJ real estate firm buys neighboring Palm Beach home

Kenneth Silverman, who founded the Silverman Group, a New Jersey-based commercial real estate and private equity firm, is boosting his luxury residential portfolio. Property records show Silverman and his wife Claudia just paid $8.9 million for their next door neighbor’s 7,100-square-foot home at 830 South County Road. The family-run company owns a portfolio of office and industrial buildings across the country. The couple bought their current 18,290-square-foot waterfront home at 215 Via Del Mar in ... [more]

China has 5 times the number of millennials the US has

Think the Millennial generation has been a boon to New York City real estate? Well consider this: China has about 400 million millennials. That’s more than the total population (all ages) of the United States and Canada combined. China has five times as many people born between 1982 and 1998 than the 80 million here in the United States, according to the New York Post. Some 90 percent of Chinese millennials own a smartphone. And ... [more]

Foreclosure fight heats up: Trial could give Schecher Group nearly complete control of Miami Beach’s Sixty Sixty Resort

An investment company could score a major victory this week in its alleged hostile takeover of a 1990s Miami Beach condo-hotel. Miami-Dade Circuit Judge Beatrice Butchko has set a three-day trial beginning Tuesday to decide the outcome of foreclosure lawsuits the Schecher Group has brought against 35 unit owners at the Sixty Sixty Resort at 6060 Indian Creek Drive. The trial is moving forward despite a pending chapter 11 filing by the Sixty Sixty Condominium ... [more]

NY investors buy Universal Palms Hotel in Oakland Park

A group of New York investors just paid $13 million in an off-market deal for the Universal Palms Hotel in Oakland Park, with plans to rebrand the 195-key hotel, The Real Deal has learned. Yeshaya Averbuch, one of the managers of the Pomona, New York-based buying entity, 4900 Powerline LLC, is also a part owner of the New York Budget Inn hostel. A spokesperson for Pleasant Realty, the brokerage representing the buyers, said the investors ... [more]

Colombians dominated web searches for Miami homes in December

Potential buyers from Colombia led a ranking of foreign nationals searching for South Florida homes online in December. The list of residents of top countries visiting the Miami Association of Realtors’ website included Venezuelans at No. 2 with 8.1 percent of international searches and Argentinians with 7.1 percent. Colombians, who are experiencing a period of political instability in their home country, represented 10.5 percent of foreign web searches, according to a Realtors report. Last year, ... [more]

New Jersey firm picks up rental portfolio in Palm Beach County

A Rochester, New York-based investment firm just sold a three-property portfolio in Palm Beach County to a New Jersey investor for $19.1 million. Companies controlled by John Summers and Kenneth Marvald sold a 100-unit portfolio to LLCs managed by Austin Rolnick of Pentaurus Real Estate Investment & Management. The deal includes the 40-unit townhouse development St. Charles Landing at 100 Harrington Court in Palm Springs; the 32 condos at Whispering Winds at 4100 Coquina Winds ... [more]

SoFla lease roundup: Virgin Voyages unveils new Plantation HQ & more

Virgin Voyages HQ arrives in Plantation Virgin Voyages is saying “ahoy” to the city of Plantation. The cruise company opened its new, 60,000-square-foot headquarters at the Royal Palm Office Park at 900 and 1000 South Pine Island Road. Virgin just launched its “adults only” cruise-line, which is set to sail from PortMiami in 2020. JLL’s Alan Kleber and Cameron Tallon represented Virgin Voyages, which is owned by a joint venture between Sir Richard Branson’s London-based ... [more]