Miami

The developer that leases Jungle Island from the city wants to build a 281-key hotel in a 110-foot tall building, although it can go up to 130 feet and 300 keys.

The Planning, Zoning and Appeals Board will be asked whether it wants to reconsider its May 2019 vote on the project re-zoning.

"At some point, COVID does pass," said Michael Comras, founder and CEO of Miami Beach-based the Comras Co. "We will see restaurants reopening."

The seven buyers of five Parque Towers condo units won on their claim developer J. Milton completed the tower over a year late.

The COVID-19 pandemic created a "unique environment of pressure on all sides" in this bankruptcy case, debtor's counsel said.

Victor Petrescu, partner at Levine Kellogg Lehman Schneider + Grossman in Miami, says unemployed and underemployed borrowers will be in the worst position once the moratorium is lifted.

Icahn Enterprises already moved its headquarters to Sunny Isles Beach, and Blackstone and Elliott Management plan to add South Florida offices.

With many owners sitting on the sidelines waiting for post pandemic price discovery, there are very few acquisition opportunities for buyers.