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Miami Tower owner adds $33M to existing loan

Miami Tower The owner of the iconic Miami Tower has added nearly $33 million to an existing loan secured by the 47-story downtown Miami building, The Real Deal has learned. I&G Miami, short for Income & Growth Miami, received the $92.8 million refinancing from JPMorgan Chase Bank on Monday, according to Miami-Dade County records. The […]

Companies pay premium to hedge against storms

Downtown Miami after Hurricane Wilma On the third floor of the New World tower in downtown Miami, generators large enough to power a small city serve as backup in case of the devastating hurricanes and storm surges some climate scientists predict in South Florida’s near future. With the National Oceanic and Atmospheric Administration expecting “above […]

Who’s the most likely buyer for your home?

You need to know who your most likely buyer will be. Although the time of year that your home is on the market is important, you also need to be aware of who the most likely buyer will be. Think back to why YOU bought the property….what appealed to you about the neighborhood AND the […]

Miami’s most highly-anticipated hotels

From left, renderings of the Lenox Hotel; archive of Saxony Hotel; The Redbury in Hollywood The majority of the Miami area’s most anticipated hotels are in Miami Beach, according to Curbed. Top of the list of seven is the Faena Hotel, the Roman & Williams renovation of the historic Saxony Hotel, and the centerpiece of […]

Mortgage applications and interest rates down

The number of mortgage applications for the week ending February 27, 2013 decreased 3.8 percent on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association announced today. On an unadjusted basis, the Index decreased 3 percent compared with the previous week. The Refinance Index decreased 3 percent from the previous week. The […]