Canceled projects, broker wars, secret backers… here’s what you need to know heading into next year
By Katherine Kallergis | December 22, 2017 01:30PM
Fake buyers, canceled projects, secret backers and heaps of broker drama made South Florida’s real estate market a hotbed of intrigue in 2017.
Top condo developers were forced to reckon with a stuttering high-end residential market, exacerbated by Hurricane Irma, a tighter lending environment and growing buyer clout. Some, like Shahab Karmely and Vlad Doronin, forged ahead on developments despite slow or stagnant sales, while others like HFZ Capital Group and the Related Group canceled condo projects, shifting their attention – and money – elsewhere.