Author: Florida Real Estate News

A prominent Miami real estate developer, Rishi Kapoor, is facing federal charges in connection with an alleged $85 million fraud scheme. Authorities claim Kapoor diverted millions from investors, intended for real estate projects that were never built, to fund a luxurious lifestyle, including the purchase of a 68-foot yacht and a home. Key Takeaways Rishi Kapoor, CEO of Location Ventures, is accused of defrauding investors out of $85 million. Funds were allegedly used for personal luxury items, including a yacht and a home. Kapoor is also charged with tax evasion and failing to pay payroll taxes. Several real estate projects…

Grupo T&C has officially commenced construction on Edge House Miami, a significant new 57-story condominium tower located in the vibrant Edgewater neighborhood. The project, which launched sales last year, will feature 608 residential units and is slated for completion by late 2028. Prices for the condominiums start at $500,000. Key Takeaways Grupo T&C has initiated construction on the 57-story, 608-unit Edge House Miami condominium tower. The project is located in Miami’s Edgewater neighborhood and is expected to be completed in late 2028. Sales for the units, starting at $500,000, began last year. The development team includes notable partners in architecture,…

Miami-Dade County is at the center of a heated debate surrounding the potential elimination of property taxes for primary residences. This proposal, championed by some state officials, could lead to significant savings for homeowners but raises serious concerns about the future of county services and the potential impact on housing affordability. Key Takeaways Eliminating non-school property taxes on primary residences could cost Miami-Dade County approximately $900 million annually. This revenue loss could impact funding for essential services like fire departments, libraries, and police patrols. While proponents argue it will reduce homeowner burdens, some economists suggest it could paradoxically increase housing…

A Tampa-based real estate investment firm, RAD Diversified REIT Inc., is currently under investigation by Florida Attorney General James Uthmeier’s Office for potential violations of the state’s Deceptive and Unfair Trade Practices Act. The probe centers on allegations that the company and its owners, Brandon “Dutch” Mendenhall and Amy Vaughn, may be misappropriating investor funds instead of using them for real estate purchases as advertised. Key Takeaways RAD Diversified REIT Inc. and its owners are being investigated for deceptive practices. The Attorney General’s Office has received multiple investor complaints. Subpoenas have been issued for company documents and communications. Investigation Details…

Florida’s real estate market is experiencing a significant rebound in international buyer interest, with sales counts jumping by 50% in the past year. Despite ongoing challenges like high prices and interest rates, the Sunshine State continues to attract global investors, though activity remains below pre-pandemic levels. The total dollar volume for international buyer purchases reached $10.4 billion, a notable increase from the previous year’s low. Key Takeaways International buyer sales volume increased by 50% year-over-year. Canada and Colombia led in dollar volume, with significant increases. Property price remains the primary deterrent for potential international buyers. Most international buyers still prioritize…

The landscape of organized real estate continued its consolidation trend in 2025, with both Multiple Listing Services (MLSs) and local Realtor associations experiencing a decline in numbers. This ongoing shift, detailed in the 2026 Organized Real Estate Indices from T3 Sixty’s Real Estate Almanac, indicates a move towards larger, more dominant organizations within the industry. Key Takeaways The total number of MLSs nationwide dropped below 500 for the first time. Local Realtor associations also saw a decrease in their total count. Despite these declines, national Realtor membership has remained relatively stable. A significant portion of smaller local associations are merging…

Tech magnate Larry Ellison is making a significant splash in South Florida’s real estate market, investing $450 million to transform the exclusive island town of Manalapan into a haven for the ultra-rich. His substantial property acquisitions, including a record-breaking estate and the prominent Eau Palm Beach Resort & Spa, are strategically positioning the area as a prime destination for high-net-worth individuals, further enhanced by its proximity to Mar-a-Lago. Key Takeaways Larry Ellison has invested $450 million in Manalapan, Florida. His acquisitions include a record-setting $173 million estate and the $277 million Eau Palm Beach Resort & Spa. The investments aim…

South Florida’s real estate market is experiencing a tale of two cities: a booming ultra-luxury sector attracting global billionaires, contrasted by a broader market facing stagnation and a significant rise in homes being withdrawn from sale. This dynamic is fueled by a migration of wealth, driven by favorable tax policies and business environments, while also presenting challenges for affordability and market liquidity. Key Takeaways The ultra-luxury market in Miami is exceptionally strong, with billionaires investing heavily in high-end properties. The broader housing market is experiencing a slowdown, with falling prices and homes lingering on the market. South Florida leads the…

Maui County is taking significant steps toward phasing out thousands of vacation rentals, a move aimed at addressing the island’s severe housing shortage. The Maui Planning Commission recently voted against a proposal that could have allowed approximately 4,500 short-term rentals to continue operating, marking a critical juncture in the ongoing debate over housing versus tourism. Key Takeaways The Maui Planning Commission voted 5-1 to recommend denial of a measure that would have created new hotel zoning districts. This decision makes it more challenging for roughly 4,500 vacation rentals to avoid a phase-out mandated by Bill 9. Bill 9 aims to…

Kendall’s luxury real estate market in 2026 presents a nuanced picture: while property values remain resilient, sellers are experiencing a shift in market power. This trend is driven by increased buyer selectivity and a more measured approach to transactions, indicating a maturing market rather than a downturn. Key Takeaways Disciplined Transition: The market is in a "disciplined transition phase," not a decline, with approximately eight months of supply. Pricing Reality: A gap exists between active listing prices and executed sales, reflecting price discovery rather than erosion. Product Type Matters: Modern, turnkey construction and large estate parcels with redevelopment potential are…