May 25, 2020
Florida realtors seeing influx of buyers from NYC, other large cities

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Florida realtors seeing influx of buyers from NYC, other large cities

| 5/11/2020

Florida realtors seeing influx of buyers from NYC, other large cities

Some realtors are seeing pandemic fueled demand, a big increase in New Yorkers and people from other large cities moving to Florida due to Covid-19. Many industries have taken a hard hit during the pandemic, but south Florida realtor Justin Himmelbaum says he’s as busy as ever. “Everyone is calling from those bigger cities saying wow, how can we buy these $300,000 homes and really have more property and more safety," says Justin Himmelbaum, The HOME Team at KW Innovations Boynton Beach. [Source: WPBF]

See also:
» Real Estate Investing In South Florida Post COVID-19
» Still moving: Realtors remain cautiously optimistic during the pandemic

Pandemic leading house hunters towards rural Florida

The coronavirus has brought us record unemployment and lead people to be desperate unlike they ever have been before, just to put a meal on the plate. Yet there are signs that the pandemic may wind up eventually being a boon for the Florida housing market - even in some unusual places. [Source: CBS 12]

South Florida luxury condo sales continue

Ultra-luxury sales continue to close in South Florida, underscoring buyers’ ongoing faith in the Miami market. One of four penthouse units at the Ritz-Carlton Residences in Sunny Isles Beach sold for $21 million Thursday to an undisclosed U.S. buyer, said Edgardo Defortuna, chief executive officer and president of Fortune International Group. The penthouse at the 52-story waterfront tower measures 10,760-square-feet and spans the entire 51st floor. [Source: Miami Herald]

Real estate tycoon Bud Adams dead at age 81

Francis Fiske “Bud ” Adams, Jr., was a real estate tycoon who founded Illustrated Properties in 1975, and through a series of mergers, grew it into Florida’s largest independent real estate firm, serving as its chairman until his death April 29. Adams, 81, of North Palm Beach, died at home after a battle with pancreatic cancer. Adams grew up on Jupiter Island, and attended Graham Eckes-Palm Beach Academy, Georgetown Preparatory School and Rollins College. He returned home in the 1950s and worked alongside his father, Jupiter Island property pioneer Francis Adams, who started a predecessor firm selling luxury homes and land in 1932. [Source: Palm Beach Post]

Lakewood Ranch to welcome one of Florida’s first single-family rental communities

A relatively new concept in residential real estate, the single-family rental community, is planned for Lakewood Ranch. Construction has begun on Estia Lakewood Ranch, a joint project between the developers of the master-planned community and Zilber Residential Group. Plans call for 230 residences: 102 one-bedroom, 725- square-foot units within 51 duplexes; and 128 stand-alone, 1,000-square-foot, two-bedroom homes. [Source: ]

STAT OF THE WEEK
10,559
A massive Florida mansion once owned by John Lennon and Yoko Ono is now on the market. Located at 720 S. Ocean Blvd., Palm Beach, the 10,559-square-foot home is referred to as "El Solano" and was built in 1919 by famed architect Addison Mizner. [Source: Creative Loafing]

ALSO TRENDING:

› Moishe Mana’s got milk. The real estate mogul just bought Miami’s MacArthur Dairy
Moishe Mana, the largest private real estate owner in Miami-Dade County, is getting into the dairy business. Mana purchased the Sunrise-based McArthur Dairy, founded in 1929, from Dean Foods for $16.5 million. The purchase includes the dairy’s main plant in the burgeoning Little River arts district, along N.E. Second Avenue between 69th and 72nd Streets, plus a Fort Myers distribution center.

› Tampa Bay renters are paying their rent. But for how much longer?
With the economy still firmly in the grip of the coronavirus pandemic, new data released Friday showed another measurement of the collective strife: Fewer people in Tampa Bay made rent payments during the first week of May compared to the same month last year, which was also the case in April.

› New home activity expected to stall in Southwest Florida
New home construction remained solid in Southwest Florida in early 2020, but the housing outlook has changed dramatically in the last several weeks. Housing starts in the Sarasota-Manatee-Charlotte region are now likely to resemble a Nike swoosh — a big crash with a slow recovery, according to a new report from data supplier Metrostudy.

› Colliers International Florida expands office brokerage team
Colliers International Florida is continuing to expand its South Florida footprint with the addition of a tenant representation brokerage team. The team comprises office brokers, Keith Edelman and Scott Goldstein. The two professionals bring more than 45 years of combined tenant representation experience to Colliers International.

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