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This Week in Real Estate: Surging property values, solar panel construction, and more

by Peter Thomas Ricci

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This week was an active one for Miami’s real estate market, as the stories below bear out:

•Thanks to new construction, Miami-Dade property values rose 8.6 percent in 2015. As the Miami Herald reports, North Miami Beach saw a particularly strong increase, with values rising 16.6 percent.

The South Florida Business Journal reports that Stellar Homes Group, a Fort Lauderdale-based developer, will become the first homebuilder in South Florida to make solar panels a standard feature in all of its projects. Although the panels have a retail value of $9,160 to $16,128, Stellar Homes does not plan to raise its prices to accommodate the panels.

•Another week, another high-flying home purchase in the Miami area. Mario Bernardo Garnero, a wealthy Brazilian businessman, has paid $14 million for a top-floor penthouse at the 3651 Collins Ave. beach house condominium. Check out the South Florida Business Journal for more details.

•Mr. Garnero, though, was hardly alone on the multi-million circuit. Additionally, Craig Menin, the CEO of the Palm Beach-based company Menin Development, sold his 14,406-square-foot mansion for a whopping $25.5 million. Located at 900 N. Lake Way in Palm Beach, the home’s new owner is not known.

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