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New Miami Blog Insights and Commentary on the Gateway City's Expanding Global Significance

Monthly Archives: September 2012

Will The IRS Report Non-U.S. Taxpayers’ Bank Deposit Interest To Foreign Governments?

Banks’ Reporting Requirements Raise Privacy Concerns Effective January 1, 2013, U.S. financial institutions will be required to annually report bank deposit interest earned by non-U.S. residents to the IRS. Currently, U.S. financial institutions are only required to report bank deposit interest earned by residents of Canada to the IRS. (It should be noted that such… Continue Reading

Miami’s Commercial Real Estate Focus Shifts To Urban Centers

This is a guest post by Tere Blanca, President and CEO of Blanca Commercial Real Estate.  U.S. Cities Growing Faster than Suburbs Census data released this summer validated what many in the real estate sector already believed: America’s cities are growing faster than our suburbs. In fact, 27 of the country’s 51 largest metro areas… Continue Reading

P3 Opportunities Ahead For Public Transportation Systems

Moving forward, some of the most exciting opportunities for public-private partnerships will be in the area of public transportation. Traditionally, public transportation systems have been constructed and operated solely with public dollars. Unfortunately, now that the need for new fast and efficient public transportation systems is greater than ever, those public dollars are hard to… Continue Reading

Miami Hotel Market: 2013 Outlook Promising

As a speaker at the Cornell Hotel Society South Florida Chapter’s “Fourth Annual South Florida Lodging Outlook” seminar at the Conrad hotel in Miami last week, I had the pleasure, along with Max Comess of HFF Hotel Group, of delivering the good news: The outlook for the 2013 Miami hotel market is promising. Market data based… Continue Reading

Florida Residency Required for Homestead Protection

One of the top reasons for moving to Florida, aside from the year-round sunny weather and the multitude of exciting things to do, is the homestead protection afforded to Florida residents. Article X, §4(a) of the Florida Constitution protects Florida homestead property from levy and execution by an owner’s creditors during the owner’s lifetime. Under… Continue Reading

A New LLC Act for New Miami (and the Rest of Florida)

Steven D. Lear, a partner in the Corporate and Securities department, is the Recording Secretary for the task force of the Florida Bar Business Section that is drafting the new Florida LLC Act. This is the first in a series of blog posts on the new Florida Limited Liability Company Act. Future posts will discuss… Continue Reading

Florida Court: Lawyers And Judges Should Not Be Facebook Friends

Just friends? Think twice before “friending” the bench Can’t lawyers and judges just be “friends?” Apparently not, so ruled Florida’s Fourth District Court of Appeal last week in Domville v. State, No. 4D12-556 (Fla. 4th DCA 2012). The Fourth District’s decision is seemingly the first of its kind since the Florida Judicial Ethics Advisory Committee… Continue Reading

New Condo Financing Approach Attractive to Developers

Much has been said about the ever diminishing supply of condominium inventory and the reluctance of banks to lend to construct new condominium projects since the market collapse. As previously discussed, several determined developers, including The Related Group, NewGard Development Group, and Terra Group, are relying upon buyer deposits of 70-80% of a unit’s purchase… Continue Reading

Rilea Group Wins Urban Land Institute’s 2012 Project of the Year Award

Congratulations to Rilea Group, real estate developer of the office tower 1450 Brickell, on receiving the prestigious Project of the Year Award by Urban Land Institute, Southeast Florida/Caribbean. The award recognizes the real estate project that best embodies the mission of the Urban Land Institute: ensuring the responsible use of land in an effort to create sustainable, thriving communities…. Continue Reading

Foreign Investors Buying Miami Commercial and Residential Properties

Buyers, both domestic and foreign, are capitalizing on Miami’s continuing commercial and residential investment opportunities. Recent details of new deals and reports reaffirm that Miami is still where everyone wants to be. The Van Dyke Café’s New Landlord The Van Dyke Café, located in the 1924 iconic Van Dyke building originally developed by Carl Fisher and… Continue Reading

Sale of New World Tower in Downtown Miami

My colleagues, Jim Shindell and Krista DeCastro, reported on this Blog about three recently closed office building transactions in the Miami area. One additional transaction can be added to that list, as further evidence of the resurgence of commercial property activity in south Florida. On August 16, 2012, control of the New World Tower located… Continue Reading