Welcome to my web site! :: Tuni Singh :: Optimar International Realty

Tuni Singh

Optimar International Realty

Cell: 786-877-1020

Fax: 360-285-8904

February 2008

Sunny Isles bucks trend

The skyline of Sunny Isles Beach takes on a new shape as condo towers rise along the oceanfront.

By Jennifer LeClaire

Once marked by low- and midrise motels, Sunny Isles Beach now hosts high-rise resorts with dozens more luxury condo towers, retail shops and waterfront restaurants coming on line. But will the local economy bust before the dust even settles on redevelopment projects? Will the dream of transforming the once sleepy 2.26-mile oceanfront strip into the "Venice of America" end with a rude awakening in the midst of a down economy?

Sunny Isles' rebirth could be stymied by what some are calling a triple threat: slowing in-migration trends, the housing bust, and the likelihood of a recession.
everything is occupied," says Pete Schlang, director of leasing for Woolbright Development. "Even if only half the units coming on the condo market sell, that's still a tremendous increase to what was already a strong base."

>>>More

Buyers start to Move on South Florida's Distressed Properties

South Florida Business Journal - by Julia Neyman

South Florida's depressed real estate market is still about six months from rock bottom, some experts say, but now bargain hunters are out in force.

At a recent conference, real estate brokers and lawyers agreed the sharpest declines in value and the highest spikes in foreclosures will hit once most of Miami's new condo units are built in late 2008 and into 2009.

Still, several brokers are noticing that distressed properties are starting to sell, and buyers - especially foreign buyers - are already eyeing the market to make sure they don't miss a feeding frenzy for cheap real estate. The trifecta of the housing glut, the subprime crisis and the weak dollar has made South Florida real estate attractive again - but for a very different reason than in 2005.

>>>More

D ubai Firm Buys Half of Fontainebleau

The Fontainebleau deal added one of the country's best-known hotels to Dubai's growing portfolio of tourist favorites in the United States and abroad.

BY DOUGLAS HANKS

Nakheel Hotels, whose parent company is managed by the Dubai emirate, will partner with developer Jeffrey Soffer as he prepares to reopen the Fontainebleau this fall.

A Dubai firm has bought half the Fontainebleau resort for $375 million, putting Miami Beach's most iconic hotel partly into the hands of an oil-rich Middle Eastern government.

Nakheel Hotels, whose parent company is managed by the Dubai emirate, will partner with developer Jeffrey Soffer as he prepares to reopen the Fontainebleau this fall following two years of renovations at the 1,500-room complex.

>>>More

TRAVEL |
Surfacing | Sunny Isles Beach, Fla.: Rat Pack Playground Revived
By ANN MARIE GARDNER
A hotel boom has crept up on the barrier island five miles north of Miami Beach, putting it on track to become Florida’s next hot spot.

>>>More

**********************************************************
END OF SESSION REPORT

Friday, May 2 · 6:02 p.m.

**********************************************************
TALLAHASSEE, Fla. -- Who says a tight budget year ruins a perfectly good legislative agenda?

Facing a budget deficit in the billions and 37 lawmakers leaving office due to term limits, watchdogs predicted an anemic and painful legislative session. Add the fact that legislators had already tackled two of FAR's major issues -- property insurance and property tax reform -- during special sessions in 2007, and it appeared that the 2008 legislative session would also be uneventful.

Quite the opposite, at least for Realtor issues.

>>>More