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Miami Beach
251 Washington Avenue
Two lots located at 251 Washington Avenue in the South of Fifth district of South Beach are back on the market, according to The Real Deal.
The lots were purchased last year for $8.25 million by Adam Hyatt, who planned to build a luxury boutique hotel.
The 13,000 square foot lots are listed for $9.5 million.
Yesterday, we took a look at the inside of Pablo Escobar's Miami Beach mansion at 5860 North Bay Road before it was destroyed. Demolition began on the house where the fountain, garage, laundry room, office and part of an upstairs bedroom were taken down with bulldozers. There was many media and news crews filming the event. There was even a film crew recording a documentary on the house.
Read MoreA pink black tiled house located at 5860 North Bay Road on Miami Beach is set to be demolished on January 19, 2016. The house was once owned by notorious drug kingpin Pablo Escobar who purchased the house on March 21, 1980 for $765,500.
The 7,336 square foot house was built in 1948 and has 4 bedrooms and 6 bathrooms on a lot size of 33,041 square feet. A 2,061 square foot addition was added to the house in 1992.
Read MoreVenetian Causeway
In 2014, a bus got stuck on the Venetian Causeway, which caused a portion of the bridge to fall into the water. This forced county officials to spend $12.4 million to repair the Western portion of the bridge, which started in June 2015.
After months of construction and repair, the bridge is expected to open again on February 29th.
Turning the shell of the old Miami Heart Institute into the Ritz-Carlton Residences Miami Beach is still taking place on the site at 4701 Meridian Avenue. The previous six separate buildings are being combined into one building. Developers had to keep the existing shell because zoning on a new building would have required fewer floors.
Read MoreGlass Miami Beach
Glass Miami Beach is now officially open and residents are allowed to move in. The 18 story luxury condominium located on South Beach in the South of Fifth district began construction in August 2013.
The tower is the last high rise that can be constructed in South of Fifth due to zoning restrictions.
Construction progress photos can be seen here.
Faena District in Miami Beach
In Miami Beach, The Faena District is progressing quickly. Units at Faena House have begun closing including a the penthouse unit, which was sold for a record $60 million to a billionaire Hedge Fund CEO.
Faena Forum is also moving along quickly since we last looked in July and construction has started on Faena Bazaar and Faena Park.
Faena has released images that preview the hotel rooms. The images can be seen at Facebook on Gridics: Real Estate News, Data & Analytics.
