Eileen Higgins has been elected as Miami’s next mayor, marking a significant change for the city’s leadership. Higgins, a former Miami-Dade County commissioner, is the first woman and the first Democrat to hold the office since 1997. She defeated Emilio Gonzalez, an ex-city manager who had received support from former President Donald Trump. Higgins will succeed Francis Suarez, a Republican who has served as mayor since 2017 and played a role in advancing major projects such as the Miami Freedom Park mixed-use stadium.
Both candidates pledged to address issues with the city’s permitting process, improve housing affordability, and tackle corruption at City Hall. However, Higgins brought experience working with developers during her time as county commissioner, where she approved projects that created nearly 7,000 affordable and workforce housing units.
Higgins’ campaign received strong backing from real estate professionals. Campaign finance reports showed that she raised almost ten times more in donations from real estate industry figures compared to Gonzalez. A fundraiser hosted by law firm Bercow Radell Fernandez Larkin & Tapanes at Brightline Station featured other notable hosts including Integra Investments developer Nelson Stabile, Adler Properties CEO Jonathan Raiffe, and Florida East Coast Industries executive Jose Gonzalez. Additional contributions came from Jeff Berkowitz and his wife Yolanda; zoning lawyers Iris Escarra and Melissa Tapanes Llahues; Cervera Real Estate’s Alicia Cervera Lamadrid; land use attorney Anthony De Yurre; and several LLCs linked to Integra and Adler.
It remains to be seen whether Higgins will deliver on her promises related to housing development and streamlining permits. The real estate community is expected to monitor her administration closely.
In residential news, a trust sold an 8,400-square-foot mansion at 5 Via Sunny in Palm Beach for $30 million to an LLC named after the address. On the commercial side, AEW Capital Management sold Ryder Colonnade at 169 Coral Way in Coral Gables for $70.4 million to Crescent Real Estate of Fort Worth.
WeatherTech founder David MacNeil has listed his waterfront property at 1120 South Ocean Boulevard in Manalapan for $125 million through Margit Brandt of Premier Estate Properties. MacNeil purchased portions of this site for $38.5 million in 2024 and $55.5 million earlier this year.
Elsewhere in Florida, most Citizens Property Insurance customers may see reduced premiums next year—particularly homeowners in Miami-Dade, Broward, and Palm Beach counties—who could benefit from proposed cuts of about 12 to 13 percent according to reporting by Sun Sentinel (https://www.sun-sentinel.com/2023/11/28/citizens-insurance-premiums-could-drop-for-most-policyholders-next-year-including-in-south-florida/).
“What we’re thinking about: At the Sunny Isles condo association meeting last week, someone tried to block people from entering and then ripped up ballots. (We have the footage.) Have you witnessed anything like this at your condo building? Send me a note at kk@therealdeal.com.”
“These deals didn’t make it into our coverage this week, but they involved some interesting players. If you know of any that should be featured, send me an email.”
— Research by Mary Diduch
