Young adults face delays in homeownership due to high prices and interest rates, and low inventory, with first-time buyer rates at record lows.

First-time buyers are sometimes surprised by ownership costs beyond their mortgage, including taxes, insurance, utilities, maintenance and HOA fees.First-time buyers are sometimes surprised by ownership costs beyond their mortgage, including taxes, insurance, utilities, maintenance and HOA fees.

This week's news briefs.

Another piece of Rishi Kapoor’s former real estate empire sold for $17.5 million, but the deal froze out more than 30 co-living condo buyers. Bernice Lee, a court-appointed receiver overseeing Kapoor’s defunct Location Ventures, completed the sale of the unfinished Urbin Miami Beach co-living condominium project at 1234 and 1260 Washington Avenue in Miami Beach, […]

This article originally appeared on The Real Deal. Click here to read the full story.

Six of the nation’s largest landlords are accused by the U.S. Department of Justice of participating in an algorithmic pricing scheme that harmed renters.

The second phase of this downtown Boca Raton project would be larger than the first phase.

The increase in empty space is due to large amounts of industrial space coming online, a Cushman & Wakefield analyst said.

In step with New Year’s health-and-fitness resolutions, David Martin is launching  a Coconut Grove project designed for the wellness zealot.  David Martin’s Terra launched sales of its second Well-branded condo project in South Florida, this time an eight-story, 194-unit planned development in Coconut Grove, according to a press release.  The Well is a luxury wellness-focused […]

This article originally appeared on The Real Deal. Click here to read the full story.

Steve Ross, the billionaire developer shunning retirement to continue working in South Florida, is on a refinancing roll.  His company, Related Ross, scored a $150 million loan for its convention center hotel in downtown West Palm Beach. New York-based BDT & MSD Partners provided the loan, which refinanced an existing $105 million debt and bumped […]

This article originally appeared on The Real Deal. Click here to read the full story.

Miami’s Building Department has issued a total demolition permit for the 2000 Wynwood property. The demolition permit was approved on January 2, and issued on January 6. It was initially applied for in July 2023. The BG Group is the demolition contractor. 2000 Wynwood was approved as a 12-story building by the Wynwood Design Review Committee and Miami’s Urban Development Review Board in June 2023. According to a November utilities agreement with Miami-Dade’s Water & Sewer Department, the development will […]