Author: Florida Real Estate News

Hudson Square Properties, a prominent joint venture involving Trinity Church NYC, Norges Bank Investment Management, and Hines, has successfully negotiated lease renewals with two significant tenants, Notion and RadicalMedia. This development underscores the continued demand for high-quality office spaces in New York City and highlights the appeal of Hudson Square’s portfolio. Key Takeaways Notion, an AI productivity software developer, has extended and expanded its footprint at 75 Varick Street. RadicalMedia, a media and creative production firm, has renewed its long-standing lease at 435 Hudson Street. These renewals signal a positive trend for the commercial real estate sector, particularly in established…

The Marathon City Council has postponed a vote on a significant increase to vacation rental license fees. The proposed hike, intended to cover city costs associated with rentals, faced strong opposition from rental owners and industry professionals who argued the increase was excessive and lacked sufficient justification. The council will revisit the matter next month. Key Takeaways Marathon City Council is considering a substantial increase in annual vacation rental license fees. The proposed increase aims to offset costs incurred by the city due to vacation rentals. Rental owners expressed concerns about the magnitude of the proposed fee hike and the…

The Florida State Board of Administration (SBA) has significantly increased its commitment to real estate investments, deploying substantial funds in the second quarter. This strategic allocation underscores a growing confidence in the real estate sector, with investments spanning various property types across the United States. Key Takeaways Florida SBA committed a total of $1.57 billion to real estate in Q2. Significant portion of funds ($365.4 million) were invested in US real estate through partnerships with major firms like Invesco Real Estate, Heitman, and MetLife. Investments covered diverse sectors including multifamily, student housing, single-family rentals, logistics, medical office, and retail. Diversified…

Florida lawmakers are moving forward with a significant proposal aimed at phasing out non-school property taxes for homeowners. The plan, which has cleared key legislative committees, seeks to gradually increase the homestead exemption over a decade, with the ultimate goal of eliminating these taxes for primary residences by 2037. The initiative, however, has sparked concerns among local government officials about potential impacts on essential services. Key Takeaways A proposed constitutional amendment (HJR 203) aims to phase out non-school property taxes for homesteads over 10 years. The plan involves increasing the homestead exemption by $100,000 annually for a decade. Local governments…

In a remarkable display of resilience, the ultra-luxury real estate market defied broader economic headwinds in 2025, achieving record-breaking sales. While the general housing market experienced a slowdown, high-net-worth individuals continued to invest heavily in prime properties, pushing the top tier of the market to unprecedented heights. Key Takeaways The top ten priciest home sales in the U.S. in 2025 all exceeded $100 million, a significant increase from previous years. Florida emerged as a dominant market, hosting the country’s highest-priced home sale and several other top deals. All-cash transactions were prevalent, underscoring the financial strength and strategic investment approach of…

A significant wave of New Yorkers is relocating to Palm Beach County, Florida, a trend dubbed the "Mamdani Migration." This influx is largely attributed to concerns over potential tax increases and policy changes following the election of Zohran Mamdani as New York City’s Mayor. Real estate agents report a dramatic surge in demand, with many New Yorkers seeking a new home in the Sunshine State. Key Takeaways New Yorkers are relocating to Palm Beach County in large numbers, driven by concerns over NYC’s political and economic future. Jupiter, Palm Beach Gardens, Delray Beach, and Boca Raton are the most sought-after…

Florida’s housing market is experiencing a notable shift as an increasing number of homeowners are choosing to sell their properties "as-is." This trend is driven by rising housing pressure and a desire for faster, more straightforward transactions, bypassing the traditional listing process. Central Florida, in particular, is seeing elevated activity in distressed and transitional properties, reflecting a growing need for flexible selling solutions. Key Takeaways U.S. housing transition activity has seen a significant year-over-year increase, with Florida ranking high among states with distressed properties. Central Florida metro areas are reporting some of the highest rates of transitional properties nationwide. "As-is"…

Hillsborough County and Tampa Bay have been embroiled in significant property tax disputes, culminating in a nearly five-year legal battle. The Hillsborough County Aviation Authority, which manages Tampa International Airport and other general aviation airports, along with 15 tenant businesses, has emerged victorious after the Florida Supreme Court declined to review a lower court’s ruling. This decision upholds tax exemptions for businesses operating on airport property, deemed to serve a governmental purpose. Key Takeaways The Florida Supreme Court has denied a review of a lower court ruling, effectively ending a nearly five-year tax dispute. The Hillsborough County Aviation Authority and…

The average interest rate for a 30-year fixed-rate mortgage has nudged slightly upward this week, settling at 6.09% from last week’s 6.06%. Despite this minor increase, the rate remains remarkably close to its lowest point in over three years, offering a glimmer of hope for prospective homebuyers and those looking to refinance. Key Takeaways The 30-year fixed-rate mortgage is now at 6.09%, up from 6.06% last week. This rate is still near its lowest level in more than three years. The 15-year fixed-rate mortgage also saw a slight increase to 5.44%. Mortgage rates are influenced by Federal Reserve policy, bond…

The South Florida real estate market is showing signs of a cooling trend, with sales increasing and prices declining in key areas like Miami-Dade and Broward counties. This shift, attributed to factors such as lower mortgage rates and a correction after pandemic-era price surges, is creating a more favorable environment for buyers. Key Takeaways Residential sales, including both condos and single-family homes, saw year-over-year increases in Miami-Dade and Broward counties in December. Median prices for both condos and single-family homes have decreased in these counties compared to the previous year. Inventory levels suggest a buyer’s market, particularly for condos in…