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Inside South Florida Real Estate

April 2, 2022



Office Building


Office vacancy rates are climbing in major markets across the country, with growing signs of distress in loans backed by office buildings, nationwide have risen from 9.7% to 12.2% over the past two years





Market


The Miami and Tampa areas had among the nation’s largest increases in home prices in January when compared to a year earlier, according to a report released Tuesday.

The Miami area saw a 28.1% year-over-year gain in home prices, while the Tampa metropolitan area had a 30.8% increase.

Only the Phoenix area, with a 32.6% increase, had a larger year-over-year jump than Tampa and Miami.


Zoom out

The annual gain in January for the 20 markets was 19.2%. Check the report



New Development


Lennar pays $25M for dev site near Pinecrest the land was slated for a 54 townhouse and single-family home luxury project.

Lennar, , bought the 433,422-square-foot lot at 8290 Southwest 120th Street in an off-market deal, according to a press release. The seller is Sabal Development.

More at The Real Deal


Aria Reserve Miami the waterfront development’s first 383-unit tower is slated to be completed by summer 2024.

The new project stands out with over 5 acres of waterfront reserve in Miami’s urban care.

Situated on five acres of Biscayne Bay waterfront land in Miami’s Edgewater enclave, has now pre-sold more than 90% of its 383-residence South Tower since its summer 2021 sales launch. The north tower sales started this week. Aria Reserve’s 62-story dual towers will mark the tallest waterfront residential development in the United States.


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Fort Lauderdale


Fort Lauderdale Beach ranked No. 18 best beach in the U.S., according to Traveler’s Choice Awards for 2022.

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