TRD’s top stories:

June 26, 2017 | Miami Real Estate
Current reader favorites: 1. Inside the multimillion-dollar Aston Martin sales center in downtown Miami2. New multifamily construction to test the South Florida market3. Moishe Mana picks up another puzzle piece in downtown Miami4. Here's how much you need to make to rent in Miami-Dade and Broward: MAP5. Too many keys, too few takers in Miami-Dade's hotel market ...read more
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In London, millennials experiment with shared ownership

June 25, 2017 | Miami Real Estate
Rosie Fitzmaurice From TRD New York: Like many 20-something Londoners, the idea of owning my own place had always seemed so wildly unlikely that I didn't bother worrying about it. I had taken it as a given that my monthly rent and bills for a London flatshare would absorb around half of my monthly wage. That is until last summer, when my boyfriend Jonny and I bought 40% of a two-bedroom flat in Clapton, Hackney, for £146,000 through the Sha
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Fort Lauderdale may raise storm water fees

June 25, 2017 | Miami Real Estate
Flooding in Fort Lauderdale The city of Fort Lauderdale may increase storm water fees to protect the public from flooding, which has worsened in recent years during periods of high tide. City commissioners are considering a proposal to nearly double the city's total annual revenue from storm water fees from $8.5 million to $16.6 million. Under the proposal, the calculation of storm water fees would be based on the traffic a property generates. Th
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Boutique Naples condo nearly sold out

June 25, 2017 | Miami Real Estate
Aqua at Pelican Isle Aqua at Pelican Isle, a boutique condominium in Naples, is nearly sold out. Construction of the 11-story Aqua Tower II was completed last month, and sales have topped $60 million. Aqua Tower II has only seven unsold units, including three furnished units and a penthouse. Three furnished units that remain unsold at the Naples development are priced between $2.445 million and $2.545 million. They range in size from 3,940 square
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Many cities have nearby retreats comparable to the high-end Hamptons

June 25, 2017 | Miami Real Estate
The Hamptons (Source: Hamptons Magazine) The Hamptons, roughly a two-hour drive from New York City, is a popular retreat with big beaches, fine restaurants and plenty of emulators. Residential property brokers around the world associate their pricey listings with the Hamptons, a collection of resort towns on the south fork of Long Island where many wealthy New Yorkers spend their weekends. Ginger Martin, a Sotheby's broker, says the Sonoma/Napa V
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Metropica attracts five more retail tenants

June 25, 2017 | Miami Real Estate
Bulla Gastrobar in Doral (Source: TripAdvisor.com) The mixed-use Metropica development in Sunrise has attracted five additional retail tenants including three food-and-beverage businesses. The 65-acre, $1.5 billion Metropica development will have 400,000 square feet of retail space and 1,900 high-rise residential units when it is completed. The latest additions to Metropica's lineup of retail tenants includes Bulla Gastrobar, City Works Eatery &a
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Minto starts building Westlake models

June 25, 2017 | Miami Real Estate
Minto has started building model homes at Westlake in Palm Beach County. Minto Communities began construction of six model homes at Westlake, a 3,800-acre master-planned community that became the newest municipality in Palm Beach County about a year ago. Minto expects to finish the fully furnished model homes to coincide with the grand opening of the Westlake sales center in fall. Minto's models will serve as examples of its Cypress Collection an
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Age-restricted, Jupiter-area rentals sell for $26.75 million

June 25, 2017 | Miami Real Estate
Riverwalk Pointe at Mangrove Bay An age-restricted apartment property in the Jupiter area with a 95 percent occupancy rate sold for $26.75 million, or $257,211 per unit. A limited liability company linked to Washington, D.C.-based Gelman Management Co. bought the 104-unit property, called Riverwalk Pointe at Mangrove Bay, which is restricted to residents 55 and older. Mangrove Bay Housing LLC, a joint venture of Eastwind Development and Index Apa
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Plan to redevelop Deerfield golf property advances

June 25, 2017 | Miami Real Estate
Crystal Lake Golf Club in Deerfield Beach Another golf course in South Florida is a candidate for redevelopment. The Broward County Planning Council last week recommended approval of a plan to build 415 houses and townhouses at the Crystal Lake Golf Club in Deerfield Beach. The Broward County Commission will vote Aug. 22 on the proposed redevelopment of the 109-acre Crystal Lake golf property. The redevelopment plan also is pending a decision by
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RADCO acquires 6th Tampa rental property

June 24, 2017 | Miami Real Estate
The Sunstone Palms apartments in Tampa Atlanta-based RADCO Companies paid $41.7 million for a 536-unit apartment complex in Tampa, or about $77,800 per unit. RADCO plans to spend about $7.7 million, or $14,500 per unit, to upgrade Cordova Apartment Homes, the company's sixth acquisition of an apartment complex in Tampa. RADCO renamed the complex Sunstone Palms. The Atlanta-based company financed the acquisition of Sunstone Palms with about $15.4
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