The State of Florida has imposed a sales tax on commercial rents since 1969. Currently, the tax is imposed at the rate of 6 percent in every county except Miami-Dade which fixes the rate at 7 percent by reason of an add-on at the county option. Florida is the only state in the United States to impose … Continue Reading
Guest blog post written by Erin Holdgate of Zillow. While sellers enjoyed favorable conditions for years, Miami buyers finally have a reason to celebrate. In fact, a recent report placed Miami as the second-best real estate market for buyers. If you’ve been waiting to buy property in Miami, 2017 might be your year. Market Conditions and … Continue Reading
Interested parties must notify issuing governmental agency by September 7th to receive a new extension. Due to Governor Scott’s recent expansion of the State of Emergency issued for the Zika Virus, holders of permits and development orders have another opportunity to toll the period remaining to exercise rights under the permit or order for nearly … Continue Reading
Yesterday, Miami-Dade County hosted Dr. Ben Carson, the Secretary of the United States Department of Housing and Urban Development, at the Liberty Square public-housing development, one of the oldest in the nation. The meeting formally commenced an exciting public-private partnership for the complete redevelopment of Liberty Square. The project will be transformative for the community … Continue Reading
On March 7, the Miami-Dade County Mayor will be presenting a report to the Board of County Commissioners on County-owned properties in downtown Miami that are ripe for joint development with the private sector. The upshot: the County has at least nine properties, totaling 22.7 acres of land, that can support over 20 million square feet … Continue Reading
Developers must notify issuing governmental agency by July 10th to receive a new extension Holders of permits and development orders have the opportunity to toll the period remaining to exercise rights under the permit or order for nearly 16 months. Section 252.363 of the Florida Statutes permits a tolling of development orders and permits upon … Continue Reading
On December 20, 2016, the Miami-Dade County Board of County Commissioners approved an Ordinance proposed by Commissioner Barbara Jordan that provides incentives for builders to offer workforce housing units in new developments within the County. The Ordinance addresses the oft-discussed countywide housing affordability crisis by motivating developers to set aside units for families earning 60 percent to … Continue Reading
Suzanne Amaducci-Adams, leader of the Real Estate Practice Group at Bilzin Sumberg, frequently catches people by surprise when they hear that her group has closed on more than $2 billion in commercial real estate loans so far in 2016 despite what many describe as a Miami market that’s cooling down. “When are people going to … Continue Reading
Attorney James W. Shindell, Real Estate chair at Bilzin Sumberg, has a message for those who believe Donald Trump’s presidential election will hurt Miami’s real estate market: The sky is not falling. Shindell addressed concerns of a Trump presidency impacting the South Florida market in a recent Q&A interview published on GlobeSt.com. Shindell said he … Continue Reading
Significant issues facing the residential real estate industry in the coming year will be the topic of discussion on Wednesday, November 30 at the Urban Land Institute Southeast Florida & Caribbean’s annual Miami Condo & Community Development Symposium. Real Estate developers and investors from across the U.S. and Florida will be on hand to network, … Continue Reading
Recent amendments to Florida’s Public Records Act change a government contractor’s responsibilities under the Act in four ways: (1) Public records requests must be made directly to the public agency and not the contractor. (2) After a contract ends, contractors may either transfer all records to the public agency or keep and maintain the public … Continue Reading
Governor Scott, for the second time, has extended the State of Emergency issued for the Zika Virus. As a result, holders of development orders and building permits have another opportunity to claim a longer extension. The Governor also declared a State of Emergency in advance of Hurricane Matthew. Under Florida Law, that State of Emergency … Continue Reading
Bilzin Sumberg Real Estate Practice Group Leader, Suzanne M. Amaducci-Adams, will act as moderator of Bisnow’s Power Series event, Women of Influence, where panelists will discuss what is driving South Florida’s top female executives. According to Bisnow, the event “will be bringing together the top female executives from all walks of the real estate community in South … Continue Reading
At the Miami Finance Forum’s recent panel discussion regarding the current status of South Florida commercial real estate, panelist commercial developers stated they are responding to strong tenant demand across all sectors. While all agree that the South Florida commercial real estate market, and especially multifamily rental, has appreciated substantially since the recession, the debate among … Continue Reading
Miami’s ever-changing skyline is set for its biggest upgrade yet. With the Federal Aviation Administration’s recent decision to allow buildings in Miami to reach a height of 1,049 feet above sea level, One Brickell City Centre is expected to surpass the Four Seasons Hotel and Tower to become the tallest building, not only in Miami, … Continue Reading
Bilzin Sumberg Real Estate Partner, Adam Lustig, will be moderating on a panel discussing Miami’s hot retail market. According to Bisnow, “With strong demand drivers in place, developers are anxious to capitalize on the city’s retail market, as evidenced by the 1.4 million square feet of new space scheduled for construction within the next three … Continue Reading
The new sharing economy is changing the way business has traditionally been done across industries. The commercial real estate industry is no exception. Just like Uber and Lyft have disrupted the hired car industry and Airbnb is upsetting the hospitality industry, the trend of coworking, or shared office space, is revolutionizing commercial real estate. Cosharing … Continue Reading
Equitable liens are judicially imposed against property in the absence of any statutory or contractual basis for the creation of a lien. These liens arise in a number of different situations, but the below discussion is limited to situations involving construction financing. In this context, the project has gone awry and the construction lender may … Continue Reading
As we reflect on 2015, we are especially thankful for all of the connections that we have made this year. We are thankful for our clients, our colleagues, our friends, and all of our readers. Thus, for our holiday video we wanted to focus on the power of relationships because our relationships are the foundation … Continue Reading
To say South Florida’s real estate market is “booming” would be an understatement. The massive interest in development throughout Miami and its surrounding cities continues to increase. To quantify just how large this interest is, the Miami Herald has recently reported that, since 2011, developers have announced 400 new condo buildings with nearly 49,000 units … Continue Reading
A Florida 2015 Condominium Law Amendment Condominiums were established in Florida in 1963. The condominium form of ownership in Florida has, therefore, been in effect for more than 50 years. An aging condominium stock sitting on valuable land gave rise to a modification of termination provisions in 2007, the effects of which are still playing … Continue Reading
On Wednesday, September 30, Bilzin Sumberg Real Estate Practice Group Leader and Greater Miami & The Beaches Hotel Association (GMBHA) Board of Director, Suzanne Amaducci-Adams, will moderate the Hospitality Legal Panel presented by GMBHA. Guests will hear from an experienced panel of attorneys including Bilzin Sumberg Litigation Attorney James Ward.… Continue Reading
The 2016 political season has kicked into high gear, sparking lively discussions about major issues affecting the country. Two of the most significant issues being debated among the candidates are the economy and immigration. Typically, these topics are analyzed independently; however, the conversation has recently intersected at the sun-setting EB-5 Visa Program which expires on September 30, … Continue Reading
Bilzin Sumberg has launched Nuevo Miami, a Spanish language publication of the New Miami blog. Nuevo Miami focuses on sharing ground-level insights about the gateway city’s continually growing opportunities for foreign investors and expanding global significance as an international center of commerce. International Group Co-Chairs, José Ferrer and Javier Aviñó, serve as editors on the … Continue Reading
