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Former Goldman Sachs banker’s bet on housing

A single-family home in Naples, Florida Robert Mullen, the former head of Goldman Sachs’ credit and mortgages division, has raised nearly $1 billion to buy distressed single-family houses across the U.S. to rent, Bloomberg News reported. After presiding over the bank’s lucrative bet against subprime mortgage-backed securities five years ago, Mullen, 54, is taking a […]

South Florida home inventory drops, sales rise

South Florida residential inventory (Click to enlarge image) Residential inventory in South Florida decreased to 32,685 from 32,697 active listings for the week ending April 22, 2013. During the same period, pending sales increased slightly, to 24,377 from 24,199. Active listings are properties where no current sale contract exists; pending sales are properties in which […]

Ex Florida governor’s former home for sale

A portrait of Lawton Chiles The onetime Lakeland, Fla., home of Lawton Chiles, a two-term governor and career politician, has been listed for $749,500, the Ledger newspaper reported. Known as “Walkin’ Lawton” after spending three months walking the length of the Sunshine State, shaking hands along the way, the Florida Democrat was elected to the […]

Canadians boost Southwest Florida home sales

Bill Weed Canadians are helping revive Southwest Florida’s moribund housing market, according to the Sarasota Herald-Tribune. “They are buying property all over the place,” realtor Bill Weed, who works out of Michael Saunders & Co.’s Lakewood Ranch office, told the newspaper. “And most Canadians are paying in cash.” Canadians purchased $2.1 billion worth of residential […]

Renderings of renovated 1920s racetrack released

A rendering of the Hialeah Park race track casino Architectural renderings show that Hialeah Park, a flamingo sanctuary and the first greyhound pari-mutuel racetrack in the U.S., will largely retain its original, 1920s exterior design after the construction of a new casino is complete, Curbed reported. The $100 million casino, built on the site of […]

Wynwood bar owners claim police persecution

Villa 221 Bar owners in Miami’s booming Wynwood neighborhood say recent busts show the police are in league with downtown club owners to temper the popularity of the arty enclave, the Miami New Times reported. Notorious for its all-night parties, at least a dozen bar owners or employees in Wynwood have been arrested since February […]

Land grab in once-seedy Miami neighborhood

Edgewater Land values in Miami’s Edgewater neighborhood are appreciating quickly as developers gobble up parcels, the Daily Business Review reported. Miami-based Related Group, led by real estate powerbroker Jorge Pérez, paid $29 million for a waterfront site that was sold last year for $11 million, according to the newspaper. As inventories dwindle in downtown Miami […]

Miami’s Catholic archdiocese sues city, claiming zoning code drastically depresses property values

Archbishop Thomas Wenski Catholic Archbishop Thomas Wenski and the Miami archdiocese have sued the city of Miami for $89 million, claiming a zoning code has devalued church property, The Miami Herald reported. The lawsuit, filed earlier this month in Miami-Dade circuit court, asks a judge to annul sections of the 2009 code that bar construction […]

New book links rabbi to Fontainebleau murders

Fontainebleau Hotel An ex-stripper who arranged the murder of her husband and his hotel heiress mother siphoned off part of his $10 million estate through her rabbi lover, according to a new book mentioned in today’s Daily Mail newspaper. Nancy Novack, 56, was found guilty in June 2012 of orchestrating the killings of her millionaire […]