“The world turned”: Why developers are selling South Florida multifamily sites 

A developer planned to complete a 141-unit apartment building in Miami’s Wynwood Norte neighborhood last year.  The project was first revealed in the fall of 2022. Yet, instead of starting construction, Evolve Companies listed the six-lot assemblage for sale this spring, asking $14 million.  Across South Florida, developers who planned multifamily buildings in recent years are now quietly putting the sites up for sale, according to online listings and experts.  “I don’t think it’s a secret that the market cycle for new construction multifamily is ending,” said broker Tony Arellano. “Interest rates are higher, development costs are higher, concessions [to […]This article originally appeared on The Real Deal. Click here to read the full story.