A court appointed receiver for Send Enterprises LLC, sold a dozen home lots in various stages of development throughout Coconut Grove with the permission from a Miami-Dade judge to Red Treehouse LLC, a company registered in Wyoming.
The new lounge at Mayfair House Hotel & Garden has been created to bring guests an elevated craft cocktail experience made with local ingredients and sharable bites served from an elevator-car-transformed bar. Drinks are served from an old elevator car at the hotel that has been transformed into a bar.
The construction of Grove Central is finished. The residential tower is open for occupancy, with renters moving in, and the development’s retail component is opening in phases.
Bank OZK provided the loan to CMC for the seven-story, 65-unit luxury waterfront condominium that is under construction on Grove Isle in Miami’s Coconut Grove. It’s more than 70 percent presold, according to a CMC press release.
In what lawsuits allege was a long-running real estate fraud in Coconut Grove. a judge just approved a settlement among parties with the most money at stake. The $33 million deal omits those who put $20 million down on homes and lots where, their lawsuits allege, the developer fraudulently delayed completion while collecting multiple deposits and obtaining loans on the same properties.
In what’s referred to as four- and five-star properties, which are more high-end luxury, there has been a bit of a slowdown in absorption in Miami-Dade County. The one and two stars, and even three stars, which are more entry-level rentals, however, remain a very tight inventory.
Lawsuits claim Send Enterprises, the company run by Douglas Cox and Nicole Pearl, intentionally strung buyers along for years, leaving their properties unfinished as they collected multiple deposits for the same parcel. At this time, it’s unclear how much of the down payments will be returned to the would-be buyers. The settlement proposal is set for a hearing before a Miami-Dade Circuit Judge.
Bartaco, which began life in 2010 in Port Chester, New York, is opening a third South Florida location in Commodore Plaza in Coconut Grove.The new Mexican restaurant is larger than its sister properties in Aventura and Wynwood and will become the flagship for the brand.
A large mixed-use project called Grove Central is getting its finishing touches. The project will be anchored by a Target, and a residential tower is planned to include 400 apartments, with pre-leasing now underway.
Miami-based 3034 Oak Park LLC transferred the incomplete Arbor condominium to Arbor Grove Development LLC. The deed is in lieu of foreclosure in exchange for the lender releasing $20.96 million in personal guarantees against the seller, but the original loan remains in place on the property.