Two years ago, Angie Cifarelli of New Jersey signed a pre-construction contract to buy a condo at the Residences at Midtown in Palm Beach Gardens.
Purchase price in the contract: $404,500.
Last month’s appraised value of the newly completed condo: $200,000.
A property worth less than half its value in 2006 is all you need to know about [...]

Interstate Hotels & Resorts (NYSE: IHR), one of the nation’s largest independent hotel management companies, today announced that it has been selected to manage the EuroSuites luxury condo-hotel in the Doral area of Miami, Florida. The nearly completed 368-suite property is being developed by Concalpro Group Corporation and asset managed by EuroSuites Hospitality Group, both [...]

The national and the local apartment vacancy rates, far apart in recent years, are much closer now.
Reis, Inc. (AMEX: WRP) a New York-based research firm, said the nation’s average apartment vacancy was 5.8 percent as of the end of the second quarter, down from 6 percent during the first three months of 2007 –reportedly the [...]

A hotel could return to the downtown waterfront, the city’s docks would extend farther out into the Intracoastal Waterway and the city would finally free itself from a loser of a lease under a complex plan for a major overhaul of the city’s Palm Harbor Marina to be announced today.
The plan, which also calls for [...]

Matthews Hospitality Group, LLC has announced plans for Point Breeze, an historic landmark in Nantucket Town being transformed into a private club and prestigious condominium enclave offering an unparalleled mix of services and amenities. Point Breeze will be developed in two phases. With final approvals for Phase One in place, this highly-anticipated restoration project is [...]

Delray Beach-based hotel developer Ocean Properties LLP has reached agreement with Palm Beach County Commissioners to build a $100 million hotel and condo complex next to the Palm Beach County convention center – finally.
Talk has been just talk for many years, said Commissioner Mary McCarty, and after the 6-0 vote for approval of the plan, [...]

A state senator joined representatives and lawyers for three dozen condominium associations Thursday in accusing the state’s largest private market condo insurer of engaging in an organized plan to deny hurricane claims.
”This is institutionalized bad faith,” said Sen. Jeff Atwater, R-North Palm Beach of the insurer, Australia-based QBE Group and its representatives, Florida Intercoastal Underwriters, [...]

The Business Development Board of Palm Beach County helped the developer of a 112-room condo-hotel in West Palm Beach win a $112,000 tax refund from the state for redeveloping a brownfield area.
DR Palm Beach is investing $13 million to build the Hawthorn Suites Condominium Hotel at 465 Executive Center Drive. It will create 45 [...]

The people are crying over too-high property taxes. But West Palm Beach Mayor Lois Frankel says they’re not high enough.
In an unprecedented move by a city, West Palm Beach is suing Palm Beach County Property Appraiser Gary Nikolits, demanding he boost tax assessments on three new downtown condominiums so the city can collect more taxes [...]

AmCOMP, Inc. announced that the Company’s senior management will present at The New York Society of Security Analysts’ (NYSSA) 11th Annual Insurance Industry Conference today, Monday, February 12, 2007, at 1:15 PM ET in New York City.
This presentation will be webcast live and can be accessed at the following link: http://ir.amcomp.com/eventdetail.cfm?eventid=34953
The webcast will be archived [...]

Management of SBD International Inc., a construction and real estate development company, announced that its affiliate SiteWorks Building & Development LLC has executed a joint venture agreement with property owner Owen Baynard for the development of a 49 acre property in Chiefland, Florida
Terms of the agreement indicate that the property owner, Owen Bayard will contribute [...]

ORLANDO - The condo craze is over, developers declared here today.
That may be hard to tell given the number of condominium buildings still under construction in areas like downtown West Palm Beach, but builders and developers attending the massive International Builders Show here said don’t expect that trend to continue.
Condos remain an attractive “lifestyle choice,” [...]