Rafael L Lopez - Real Estate

Rafael L Lopez - Real Estate Over 20 years bringing sellers and buyers together. Specializing in sales and leasing of commercial real estate assets; Multifamily, Office, Retail.

VP
NAI Miami / Ft Lauderdale

07/23/2026

Cipriani. One of Miami’s tallest towers will start delivering Summer 2027.

06/02/2026

Touring sites around Miami World Center. MWC is a 27 acre - 10 block master planned mixed use development. It is the 2nd largest urban development in US, after NY’s Hudson Yards. Fully built will be 5,000+ resi units, multiple hotels, 300,000+ in retail space.



06/01/2026

This is the site of future ULTRA LUX TOWER 619 Brickell.
A case study: acquisition/sell out/ property taxes impact.
Developers 13th Floor Investments and Key International
Site size: ~2.2-acre | 619 Brickell Avenue.
Acquistion: valued at around $240 million (~2021-2022,), involved a complex structure: cash payments to the church (reportedly ~$48 million upfront in some outlines), plus revenue sharing (e.g., percentage of condo sales and other income). The church retains its historic building and gains space, parking, and other benefits in the new project.

Sell-Out Expectations
Sales are slated to launch in June 2026 but projections are strong for this ultra-luxury branded project.

Unit count: ~296–306 residences (1- to 4-bedroom units, sky villas, and penthouses).

Pricing: Starts from ~$2.8M–$3M Average pricing often referenced around $2,000 per sq ft.

Estimated gross sell-out: $1.5B–$2.5B+ total sell-out. With ~300 units and a mix heavily weighted toward higher-end product in a prime bayfront location with Nobu branding, Foster + Partners design, and $25M+ in wellness amenities,

Completion/occupancy around 2030–2031.

Impact on Property Taxes
Positive for the tax base overall, but with nuances for owners and the area: Miami-Dade’s effective rate (~1.9%+ with county/special districts) means significant taxes — e.g., tens of thousands annually per unit,

Adding billions in new assessed value (from this and similar projects) expands Miami-Dade’s taxable base, generating more revenue for services, schools, and infrastructure without necessarily raising millage rates.

05/30/2026

Coconut Grove Lures Family Offices & Ultra-Wealthy, Driving Office Boom

Why the Grove is winning:
Billionaire migration: Google co-founder Larry Page dropped $173.4M on Coconut Grove waterfront estates, part of a wider wave where Miami-Dade’s millionaire population nearly doubled in 10 years

Live-work-play: Executives living in the Grove, Coral Gables, Pinecrest want offices nearby.

Office market impact:
Record deals: Azora Private bought 3480 Main Highway for $61M, over $1K/SF, after foreclosure. Same group spent $82M on two other Grove office buildings last year
Premium tenants: Building houses RedBird Capital Partners, Ridgeback Biotherapeutics, Longpoint Realty Partners
Big leases: Tech firm Iru inked 92K SF at Mayfair in the Grove — one of Miami’s largest office leases this year
Rates soaring: Grove asking rents hit $88.50/SF, up from $54.83 at end of 2022. Vacancy just 7.2%, among lowest in Miami-Dade
Tight supply* Class A vacancy “among the lowest in South Florida” with “strong tenant demand, minimal turnover”.

The vibe shift: Boutique buildings like The Canopy now command ∼$100/SF as family offices + PE firms ditch Brickell towers for walkable, village-scale space near their homes.

Bottom line: Grove’s mix of waterfront mansions, low vacancy, and anti-commute appeal has turned it into a magnet for family offices and wealth managers — pushing office rents and sales to record highs.



Video: source Rafael Lopez, touring Vizcaya Capital Building in Coconut Grove. $150/sf nnn. New development. Office product.

04/11/2026

As commercial real estate brokers, we don’t evaluate properties the same way a typical end user does. We conduct in-depth research and analysis to uncover value and opportunities. From there, we guide investors in making informed decisions and executing strategic plans. If you own a piece of land and want to maximize its potential, let our expertise and diverse track record lead you through the process.

04/11/2026

Construction status on Legacy Residences at Miami Worldcenter: construction is currently paused (Since 2024) amid ongoing financial and legal challenges. The developer has defaulted on a significant loan, and the project is now subject to foreclosure proceedings. As a result, all activity has halted, and the timeline for completion remains uncertain pending potential restructuring or new ownership.
The condo portion of Legacy Hotel & Residences at Miami Worldcenter was completely sold out years ago (around 2020–2021).
In fact, it was one of the rare Miami projects that sold out before or during early construction.
This project consists of 278 residential units (condo/hotel-style residences)
Plus ~255 hotel rooms in the same tower.
Developer: Royal Palm Companies
Led by Dan Kodsi.
Architect: Kobi Karp
Interior Design: ID & Design International
#

03/02/2026

Escambrón Beach Park. San Juan Puerto Rico

The Hotel Normandie in San Juan, Puerto Rico, is a historic building that was opened in 1942 and added to the U.S. Natio...
03/02/2026

The Hotel Normandie in San Juan, Puerto Rico, is a historic building that was opened in 1942 and added to the U.S. National Register of Historic Places in 1980. After closing in 2009, the hotel was purchased by the Ishay Group for $8.6 million, who plan to restore it and possibly convert some rooms into residences. The hotel has a picturesque location near Playa El Escambron Beach and San Juan National Historic Site.

The hotel’s design is inspired by the French transatlantic passenger ship SS Normandie, featuring Art Deco and Streamline Moderne styles. Despite past damage from Hurricane Georges, the structure has been remodeled and maintains its historical use with modifications.

The restoration plans for the Hotel Normandie in San Juan, Puerto Rico, are moving forward, albeit with some delays. The Ishay Group, led by Ezra “Eddie” Ishay, acquired the hotel in January 2022 for $8.6 million and plans to invest $100 million in restoration and modernization. The project aims to preserve the hotel’s original Art Deco design, including the iconic Gold Room, and add new luxury residences.

Key aspects of the restoration plan:

-Preservation of original design: The hotel’s original design, inspired by the French transatlantic SS Normandie, will be preserved, including the Gold Room and its Roman, Egyptian, and French Art Deco influences.
-New luxury residences:The top two floors will be rebuilt to their original design and integrity, featuring luxury residences.
-Renovation of surrounding areas:The Sixto Escobar park will be renovated, including a new parking lot and sports area.
-Environmental sustainability: The project aims to balance preservation with environmental sustainability.

The project is currently awaiting permits and is expected to take approximately two and a half years to complete.

Gracias a mi hermana Rocio por la nota. Mis bisabuelos Víctor López Nussa y Miriam Raldiris Gigante, por parte de padre...
02/27/2026

Gracias a mi hermana Rocio por la nota.
Mis bisabuelos Víctor López Nussa y Miriam Raldiris Gigante, por parte de padre en el
1920. Residentes de Miramar San Juan PR.
Calle Congreso #7 (hoy ave Fernández
Juncos, Miramar). También en la foto, mi abuelo por parte de padre, el único varón de la familia- Ramón López Raldiris. Víctor López Nussa era hermano de Rafael López Nussa, graduado de medicina en Georgetown University (1906) y primer médico que realizó una operación de corazón en PR. Su hermana María Asunción, se casó con Bailey K.Ashford. Sus padres eran Ramón López (de Austria) y su mamá Micaela Nussa (de Barcelona, España).

-ROOTS-
Thanks to Rocio mybsister for this great post.

My great-grandparents Víctor López Nussa and Miriam Raldiris Gigante, on my father’s side in circa 1920. Residents of Miramar San Juan PR.
Calle Congress #7 (today ave Fernández Juncos, Miramar). Also in the photo, my grandfather on my father’s side, the only male siebling- Ramón López Raldiris. Víctor López Nussa was the brother of Rafael López Nussa, a medical graduate at Georgetown University (1906) and the first doctor to perform a heart operation in PR. His sister María Asunción, married Bailey K. Ashford His parents were Ramón López (from Austria) and his mother Micaela Nussa (from Barcelona, Spain).

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