Archives for posts with tag: Business

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July 25, 2017 (Miami, FL) – Prime office condominium located at 1000 Brickell Avenue has sold for about $900,000. Fabio Faerman from Fortune International Realty/FA Commercial Advisors was the broker representing both parts.

After being paying rent for, Faerman advised the buyer to about the benefits of purchasing instead of renting in a market where vacancy is as low as 9.4 percent in the second quarter of 2017. The office market in Miami-Dade has seen rental rates increased during 2017 which shows a continued demand for luxury office. Purchasing of the property made perfect sense for the client.

The building is in the heart of the financial district and offers deluxe office spaces. The proximity to major entertainment centers such as Mary Brickell Village and the new Brickell City Centre make of the subject property an exceptional asset. The unit features nice private offices and large space area. Plenty of sunlight from oversized windows and six assigned parking spaces.

“Investors interest is focused on the Great Miami Area, properties like the 1000 Brickell avenue offers a perfect opportunity to any investor to capitalized their money or for an end-user to settle their business in one of the most exclusive areas in Miami. In this case, we advised the clients on the purchasing of the property, based on the benefits of buying, amortization, depreciation, mortgages interest, deduction, etc.” Said Fabio Faerman, FIR Commercial Director.

About Fabio Faerman

CEO of FA Commercial Advisors and Commercial Division Director at Fortune International Realty. Also, a CCIM member, Commercial Real Estate Investment Advisor, Broker Associate, and for the last four consecutive years, he has been awarded as the #1 Nationwide Top Broker of Fortune International Realty.

 

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July 25, 2017 (Miami, FL)Fabio Faerman Fortune International Realty/Fa Commercial Advisors represented the landlord in the signing of a Multi-Year lease for a full-floor office space at one of the most prestigious downtown mixed-use building. 

Genius Plaza, New York based-company has signed a $1.5M lease deal for the entire 12,000-square-foot fourth floor at the 63-Story 900 Biscayne. The leading provider of high-performance education platform solutions is opening its first office in Miami and creating more than 50 new jobs in Miami-Dade County.

Key Facts:

  • Gross Lease deal with 3% annual increases.
  • Unique characteristics of the property which include private offices, conference rooms, open co-working space, kitchen, Meeting Rooms & Event/ Studio Space.
  • Exceptional well-located office space in downtown Miami
    • Almost across the street from Museum Park, PAMM, American Airlines Arena, Patricia and Phillip Frost Museum of Science, Adrienne Arsht Center for the Performing Arts.
    • Attractive Demographic Profile — Exceptionally well located in affluent, business, and densely populated downtown Miami Area
    • High Traffic Intersection — With an Annual Average Daily Traffic (AADT) 41,000 on Biscayne Boulevard.
    • Very Walkable – 87 Walk Score.
    • Adjacent to the New Development Miami Worldcenter.
    • 4 Blocks away from All Aboard Florida.
    • Just a few blocks from Brickell and Brickell City Centre.
    • Metro Mover Station behind the building.

 Key Quote:

Fabio Faerman, Commercial Director, Fortune International Realty, and CEO Fa Commercial Advisors.

“This deal represented a unique opportunity for Genius Plaza who was looking to establish their multicultural education platform in Miami. Downtown is the commercial heart of one of Florida’s largest population, purchasing, and employment market; which makes it the destination for global business and that is the reason companies strategically choose it to be a part of the city’s core.”

Genius Plaza was created by a diverse group of educators, programmers, designers, and leaders who believe that education is the only sustainable development vehicle that is available to all, with access as the only barrier.

About Fabio Faerman

CEO of FA Commercial Advisors and the Commercial Division at Fortune International Realty. Also, a CCIM member, Commercial Real Estate Investment Advisor, Broker Associate, and for the last four consecutive years, he has been awarded as the #1 Nationwide Top Broker of Fortune International Realty.

 

Le-Petite-Maison-and-Fabio-Faerman

BrickellHouse & Fabio Faerman on the article published at TRD-Miami

 

July 25, 2017 (Miami, FL)Fabio Faerman Fortune International Realty/FA Commercial Advisors completed the sale of Brickell House ground floor retail at 1300 Brickell Bay Drive in Miami, Florida, to a European private investor. Brickell House’s high-end retail space was sold for $5.2 million and the sale netted 5% CAP rate for the investor. Mr. Faerman represented both parties in the transaction.

The commercial space totals 4,083 square feet on the ground floor and 1,104 square feet on the mezzanine level. The sale breaks down to about $1000 per square foot. The subject property houses “La Petite Maison” – the famous upscale French-Mediterranean eatery with locations in Dubai and London.

This is the first US location for the London-based French restaurant. Arjun Waney, the restaurateur known for Zuma and most recently Doa, is behind the international concept of “La Petite Maison”

Faerman, FIR Commercial Director and FA Commercial CEO, commented on the latest transaction. “This is a high-quality, class “A” asset with an excellent credit tenant in place – La Petite Maison – in an extremely strong submarket such as Brickell. This income producing property certainly represented a unique opportunity to own a prime retail space in Brickell, a very attractive market to both local and international investors.”

Miami is undoubtedly a global destination; a cultural and social axis where people and cultures mingle and grow, creating a metropolitan platform ideal for cultural and international venues.

Fabio Faerman and his team have consistently contributed to the progress of Brickell and the entire South Florida commercial real estate landscape by acting as a broker/consultant on high-profile transactions. Recently, Mr. Faerman proudly assisted on the closing of notable deals such as Cipriani, a luxury restaurant owned by the sons of famed restaurateur Giuseppe Cipriani,  and La Cantina Veinte, a refined Mexican locale in a glitzy space with an outdoor patio and authentic curios in the heart of Brickell.

 

 

About Fabio Faerman

CEO of FA Commercial Advisors and the Commercial Division at Fortune International Realty. Also, a CCIM member, Commercial Real Estate Investment Advisor, Broker Associate, and for the last four consecutive years, he has been awarded as the #1 Nationwide Top Broker of Fortune International Realty.

Orlando City Soccer Club behaves like a real business

Mark R. Howard | 8/27/2015

With all due respect to the U.S. women’s World Cup soccer team and its world championship run, my favorite sports story this summer was a soccer story from Florida.

The Orlando City Soccer Club is the creation of Phil Rawlins, a businessman from the U.K. who settled in Orlando, and a Brazilian businessman, Flavio Augusto da Silva. Beginning in 2010, they operated the team successfully in the (lower level) North American Soccer League while seeking a Major League Soccer franchise, which they got in 2013. Orlando City signed a well-known Brazilian midfielder named Kaká to provide some start power and began MLS play in March, using the Citrus Bowl as its temporary home field.

Fans have been raucously enthusiastic. Orlando City sold out its entire offering of season tickets for 2015, and more than 60,000 attended the first MLS game. The team has been at or near the top in average attendance among MLS teams since then. Orlando City has marketed itself and Orlando vigorously as the “soccer capital of the South.”

Good for Orlando City. Good for Orlando.NewStadium

And now the part of the story that made it my favorite.

For better or worse, the owners of sports franchises in America have been able to leverage their teams’ visibility into claims on the public purse. By one accounting, professional football, baseball, basketball and hockey teams around the U.S. have received some $20 billion in subsidies for new facilities since 1990 – despite decades’ worth of studies and consensus among economist that the economic impact of sports stadiums is minimal and a bad deal for taxpayers. Eight Florida pro teams receive various kinds of state subsidies.

The ownership of Orlando City wasn’t shy about seeking public assistance for a permanent home field. It put together a deal with the city of Orlando and Orange County for a $115-million facility with about 20,000 seats. The city and county together went in for about $35 million to purchase and prepare a site.  Meanwhile, the team went begging to the state for $30 million, lining up with the Jacksonville Jaguars, Miami Dolphins and International Speedway Corp. (NASCAR’s owner), which all want taxpayer funds to expand or upgrade their venues.

A funny thing happened on the way to the public trough. The legislature got so caught up in trying to keep poor people from getting federal Medicaid money that it didn’t get around to the law that doled out to the wealthy team owners.

Orlando City could have done what the Jags, the Dolphins and NASCAR will likely do – double down on lobbyists and go back to Tallahassee next year. But it didn’t. The team had already begun to believe the market could support a stadium with 5,000 more seats than it had planned. And rather than wait on state funding, Orlando City decided that it would just build the stadium on its own, without taxpayers’ money.

The team is buying the stadium site and paying the city and county back what they spent for the land and improvements. It will finance its $130-million facility, own it and control all the associated revenue streams – concessions, fees for hosting other events, naming rights, etc. Like a real business.

Orlando City made it clear in announcing its decision that it didn’t have anything against public money and wasn’t trying to be the poster team for a new approach to stadium funding. Its decision was driven by its own needs, it said.

But in behaving like a real business, the team highlights what’s always been true – sports teams can operate with a lot less help from the government than they deserve. Incentives for firms creating jobs that pay well and broaden a community’s economic base are one thing, but why should taxpayers subsidize wealthy owners for whom the teams are basically toys? Some business groups, quick to complain about government “over-reach” and fiscal irresponsibility in some contexts, are silent when it comes to giving taxpayers’’ money to billionaires.

Those who make the argument that a city isn’t somehow validated until it has a professional sports franchise might consider Austin. The fastest-growing big city in America, Austin has focused state and local incentives on the tech industry and now has a tech sector any city in the country would kill for. The lack of a professional sports team doesn’t seem to have hurt either its development or sel-image.

Consider, also Jacksonville, which won’t be a great city until it develops its downtown, regardless how Jaguars perform. Or St. Petersburg, where the presence of the Tampa Bay Rays has been a non-factor in the emergence of a world-class-downtown. And where the city is beginning to realize that the 80 acres where Tropicana Field sits could generate a bigger economic bang as a tech hub than as a baseball field.

Meanwhile, Orlando City isn’t the only soccer franchise that has decided to pay its own way. The Los Angeles Football Club, an MLS expansion team slated to begin play in 2018, also has announced plans for a stadium – 22,000- seats, $250-million – that will be privately financed.

It may be that we’re entering an era in which communities have different notions of quality of life than before – a football or baseball team is a nice asset, but so is an arts community, good schools and a thriving entrepreneurial community. Doesn’t a team need a great city as much as a city needs a team? What does it say about a place if it has to bride a billionaire into staying put?

Orlando City’s decision to invest its own money in a stadium is about the best vote of confidence that the city of Orlando could get. The team may not establish a new template for all-private stadium financing, but they’ve shown that it’s possible. And the fans who come to the new stadium can enjoy the games secure in the knowledge that Orlando City didn’t have to squeeze other taxpayers to put their team on the field.

Originally published on

Florida Trend - The website for Florida business

Fabio Faerman Closes Bulk Sale Of Miami Condo Units For $6.7 Million

Aug 12, 2015
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FA Commercial’s Fabio Faerman closed a $6.7 million bulk deal for a total of 21 units at Mint Condominium, located at 92 SW 3rd Street in Miami.

Faerman was the broker of record in the all cash transaction.

The deal represented an opportunity for the buyer to acquire a large number of units in the prime downtown building, strategically located in the epicenter of Miami’s flourishing cultural arts scene.

Situated on the eastern side of downtown Miami, Mint at Riverfront was built in 2010, designed by the renowned Revuelta Vega Leon  Architects and developed by Key International.

Mint – Press Release

Education is key to success “If you have knowledge and you work hard I believe you can accomplish anything.”  saidFabio Faerman – Fa Commercial’s CEO – in an interview with The MIAMI REAL ESTATE SHOW.

We invite you to view the whole interview here. Enjoy!

Univision Noticias interviewed Fabio Faerman regarding Beckham Group new MLS stadium in Miami.

Watch the interview now:


Russel Galbut is the managing Principle of Crescent Heights, one of America’s largest and most well-respected residential real estate developers. He and his family are a very important part of Miami Beach recent history. For more than 80 years, the Galbut family has been developing Miami Beach.Russel

Russel have been active in the urban mixed use real estate sector for over 35 years, Mr. Galbut and the Crescent Heights team are considered the “best in class” developer with a successful track record in new construction and renovations. Through today Mr. Galbut and Crescent Heights have completed such conversion projects in Miami Beach, as the Decoplage, Shelborne, Carriage Club, Carriage Club North, Castel Beach Club, Carriage House, Casablanca to name just a few. Together these conversions raised the assessed values of these buildings over 2 billion dollars in value which is the largest tax base increase brought about by any company in the history of the Island.

Last June 24th 2015 Mr. Russel Galbut was the special guest speaker on the 2nd series of LEAD: Leaders Empowering Action through Discussion, held at the Mondrian South Beach.

His presentation was excellent. Having one of the best Miami entrepreneurs in the Commercial Real Estate sharing his insides about the market and the business was an outstanding opportunity. Mr. Galbut talked about strategies that will be able to be applied to life and/or any line of work!

Here are some of the most relevant points of his presentation:

  • Excellence and quality, the money follows that
  • Reinvention every time
  • Experience
  • You can do a lot of money with Real estate. Why? Leverage
  • Special community work harder
  • How to go to the next level
  • Circumstances change!
  • Constant focus and desire to be better than before
  • Love what you do! You can work weekends
  • Never give up
  • Creation and fun
  • With education is easier to Success
  • As a leader you need to help build a community
  • 50000 south Florida conversions
  • FIFO, first in – first out!

Russell and the entire Galbut family believe in giving back to society and stand as pillars in our community.