This Week in Miami Real Estate: Controversial road raising, Trump boys buy local home and more

by Joe Ward

Miami Beach is one of the South Florida communities most vulnerable to rising sea levels, but a plan to address the impact of climate change was nixed by city officials.

The Miami Beach City Commission voted against a plan to elevate North Bay Road and upgrade sewage and stormwater pipes to prevent flooding, according to The Real Deal. After residents said a raised North Bay Road could cause more flooding on their properties, the commission voted down the $24 million proposal. With the official “no” vote, any future work on the street would likely have to wait six years, The Real Deal reports.

In other real estate news:

  • President Donald Trump’s two adult sons – Donald Trump Jr. and Eric Trump – recently bought their aunt’s waterfront Palm Beach home, according to The Real Deal. The Trumps used a newly created LLC to buy the mansion for $18.5 million, a significant drop from the $24 million asking price. An $11.2 million mortgage will be used to help finance the buy, the real estate blog reports. The home is not far from one of the president’s favorite haunts, Mar-a-Lago, which raked in $25 million for the Trump family business in 2017, newly released records show. Trump’s entire South Florida real estate portfolio netted $127 million in profits last year, Business Insider reported.
  • An effort to make Miami less reliant on car traffic is seeing some success. Lime, the dockless bike-sharing program launched in June 2017, has recorded over 100,000 rides in less than a year, Curbed reports. The bright green bikes can be found in Wynwood, Brickell, Downtown and Kendall, though they can be used throughout Miami-Dade County. The popularity of such bike-share programs is likely to grow in coming years, according to Curbed.
  • The Miami Association of Realtors is offering its members access to its Platinum Plus services for its lowest price yet. The service allows agents access to Cloud CMA, a second MLS platform, Proxio Premier Agent and Simplicity Ultimate Edition, according to the trade group. Members can access the services for $179 a year. To buy it individually would cost an agent $1,359 a year, according to the group.
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