Miami, FL
Decisions resume for Heat, decisions that could hold the season in the balance
MIAMI – The midseason malaise is undeniable in the NBA, the period between Christmas and the All-Star break. This season, it felt even more pronounced, with the league juicing up the early portion of the schedule with the In-Season Tournament.
But now, except for the lottery languishers, it is go time, a two-month sprint to the playoffs, which now are just eight weeks away.
For the Miami Heat, it resumes in the most challenging fashion, a four-game trip that opens Friday against the New Orleans Pelicans and then concludes in an NBA Finals rematch next Thursday against the Denver Nuggets.
The concern is the questions that remain, from the injury status of Terry Rozier (knee) to Josh Richardson (shoulder), as well as cohesion yet to be fully developed, with 29 lineups having been put into play over the first 15 games, featuring a total of 16 starters.
1. Is the roster finally set?
A. Even with the buyout-market addition of Delon Wright, there appears to be at least one more move that is possible.
Should the Heat waive the contract of Dru Smith ahead of the April 14 regular-season finale, they could add another playoff-eligible player to the postseason roster. Smith, on an expiring contract, is out for the season following December knee surgery.
In fact, if the Heat make such a move by March 3, the deadline for signing a two-way player, they then could add another two-way player into their developmental pipeline.
2. Is the roster complete?
A: That is a subtle difference from the thought above. Moving one of the two-way players to a standard deal, such as Jamal Cain, and adding a two-way player wouldn’t necessarily make the Heat whole.
What this team still lacks is a big body behind Bam Adebayo to wrestle with the biggest of big men in the playoffs, the type of players the Heat added in previous playoff runs in Dewayne Dedmon and Cody Zeller.
Such an addition, if available, could prove prudent considering the size of some of the East competition.
Players waived by other teams by March 1 or those who have not been in the NBA this season beyond 10-day contracts, are eligible to be signed any time before the regular-season finale to be playoff eligible.
3. And the playoff starting lineup will be?
A: Beyond Adebayo, Jimmy Butler and Tyler Herro, it could prove fluid.
That even could be the case with Rozier after he returns from his knee strain. Should Erik Spoelstra initially play Rozier off the bench upon his return, it would allow for experimentation without the look of a demotion.
The third wing beyond Herro and Butler could wind up being a defender (Caleb Martin?) or a spacer (Duncan Robinson?).
As for power forward, that could well prove to be matchup based, since you might not go the same way in the playoffs against Jayson Tatum as Giannis Antetokounmpo at the four.
4. Will the play-in be avoided?
A: That well could come down to the final two games of the season, a pair of matchups at Kaseya Center against the Toronto Raptors, who could be thoroughly disinterested by then.
But the single biggest factor in the equation of play-in or no play-in likely will be how much Butler pushes himself through a closing schedule that still has five remaining back-to-back sets, all of which involve travel.
So pace himself to the regular-season finish line?
Or push to be guaranteed at least five days off the week of April 14 as others compete in the play-in bracket?
5. What will be the swing votes when it comes to the final record?
A: Three games remain against the Detroit Pistons; those must be maximized. There also are two games apiece remaining against the Portland Trail Blazers, Washington Wizards and Raptors, as well as single games against the back-end-of-the-standings Utah Jazz and Houston Rockets. Victories in those 11 (although nothing with this Heat team can be assumed), would assure at least 41 wins.
From there, anything else in the other 16 remaining games would get the Heat above .500. The question is, to what degree? Last season it took 45-37 to secure No. 6, the spot above the play-in bracket, with a similar win percentage currently holding that spot this season.
Miami, FL
Miami biotech executive was followed into his condo by man who allegedly threw him from 25th floor
A Miami biotech executive was followed into the skyscraper where he lived by the man, accused of pushing him off the building’s 25th floor, newly-released surveillance video shows.
Justin Zelin, 35, was seen walking into Miami Beach’s 47-story Akoya Condominium with a bearded man Corey Hutterli, 37, following behind on Feb. 12 — three days before his death, NBC6 reported.
Zelin, who was wearing a casual outfit, threw away some trash in a garbage can before walking up to the entry door in the high-rise condominium’s parking lot, unaware he would fall to his death.
Hutterli, who was wearing a bucket hat, was following closely behind, carrying bottles of alcohol.
Just three days later, Harvard graduate Zelin called 911 to report a disturbance. During the call, he ordered Hutterli to leave the apartment, WPLG reported.
Zelin, who had worked as a biotechnology equity research analyst at BTIG since January 2021, reportedly shouted, “Get away from me Sasha,” using a nickname Hutterli was known by.
There was a bust-up and cops said, “During said physical altercation defendant Hutterli caused victim Zelin to perish due to blunt force trauma.”
Zelin’s body hit a path on the ground floor, according to surveillance video recorded eight minutes after the 911 call.
Hutterli’s defense team claimed Zelin “went over the balcony” after an alleged mental episode.
They claimed Zelin, who was identified as JZ in court documents, screamed at Hutterli in “what can only be described as a complete break with reality.”
“JZ can be heard ranting, claiming that he was killed by a homeless person, and insisting that he is dead.
“During this mental break, JZ ran in and out of the apartment, and then he went over the balcony of his 25th-floor condo and fell to his death.”
But the state of Hutterli’s body suggested something more sinister had happened. He had scratches on his cheek, and a cut on his thumb.
He was also in what “appears to be an excited state, according to police.
“What’s going on?” a shoeless Hutterli asked one officer.
“Somebody, he freaked out, attacked me.”
The cop asked Hutterli if he was alone, to which he replied, “No I don’t know where he is.
“I kept telling him to relax.”
Hutterli then blurted out, “What is the situation? Did he jump?”
Cops then searched the apartment – which had items strewn inside – and they found Hutterli’s bucket hat.
There were blood spatters on the rails, and clumps of Hutterli’s beard hair were also found.
Blood was also found on Hutterli’s shirt – and they found ketamine in his bag.
Hutterli was arrested on April 8 and faces a second-degree murder charge, which carries a maximum sentence of life imprisonment.
Cops were able to make an arrest after Zelin’s DNA was discovered on Hutterli’s jacket.
He also faces burglary with assault or battery, possession of a controlled substance, and drug paraphernalia charges.
Tributes, meanwhile, were paid to Zelin following his death.
“Justin was one of the best biotech analysts I have ever worked with,” friend Amit Jolly wrote on Linkedin.
“His work was rigorous, thoughtful, and deeply coordinated.
“He had a rare ability to see around corners and articulate complex ideas with clarity and conviction.
“Our field has lost an extraordinary mind, and many of us have lost a trusted voice and friend.”
Miami, FL
Miami-Dade condo owners plead for help after weeks-long elevator outrage impacting residents’ health
Condominium owners near Doral are appealing for help after their buildings have been without elevator service for weeks. They are speaking exclusively with CBS News Miami, sharing stories of hardship amid the area’s suffocating heat. Several owners, who are elderly and have disabilities, say they are struggling to climb the stairs.
This is not the first time the issue has plagued Parkwood Condominiums. Last July, CBS News Miami reported that one building in the complex had been without elevator service for more than a week.
Currently, service has been out at 9240 Fontainebleau Boulevard since May 14. The elevator at 9270 Fontainebleau Boulevard has been out of service since May 15, and the elevator at 9180 Fontainebleau Boulevard is also non-functional, though the duration there is unknown.
Ronald Bedenis, who has lived on the fifth floor of 9240 Fontainebleau Boulevard for 31 years, expressed worry for his wife and others.
“It’s terrible. People are having a really difficult time,” Bedenis said. “My wife cannot go out. I have an 80-year-old woman who cannot go down the stairs. Another neighbor is 104 years old, and she is in a wheelchair. How is she supposed to get down and buy food?”
His neighbor, 68-year-old Sandra Hanson, shared her struggle. “It is horrible. It is very bad because my husband is 80 years old and he cannot walk. He is very sick. He is stressed out,” Hanson said.
At 9270 Fontainebleau Boulevard, 77-year-old heart patient Luis Jorge said the outage is impacting his health.
“They put two catheters in my heart before, and I have another operation coming up,” Jorge said. “To go down is not a problem. But to go up is a problem. We called, and there is no one to talk to. I feel like I am in prison”.
His neighbor, Iris Hernandez, called the situation “frustrating”.
“It’s a big hardship, and I am in disbelief,” Hernandez said. “I feel like I am in a nightmare. I would like to see the elevator fixed”.
CBS News Miami contacted Atlas Property Management Services in Doral and received a statement from Joaquin Alvarez, the property manager.
Alvarez reported some progress at 9270 Fontainebleau Boulevard, where a damaged property edge was repaired, but they are waiting for a control card. At 9240 Fontainebleau Boulevard, Alvarez said the elevator had a damaged valve, and he expected a new one to be installed by the end of the week. He confirmed the Condominium Association had authorized repairs.
For 9180 Fontainebleau Boulevard, Alvarez said the problem involves a defective control board, which the elevator company is working with the manufacturer to resolve. He noted the issue has been ongoing “for a while” but did not provide a repair completion date for that building.
Miami, FL
Developers pay off $115M in Miami construction loans as condos near sellout
South Florida developers knocked out a combined $115 million in construction loans for Miami condo towers that are nearly sold out, as the demand for hospitality-branded residences heats up in the region.
North Development paid off a $70 million loan to Forman Capital and Core Capital for Domus Brickell Park, while Rosso Development and Midtown Development paid off a $45 million mortgage to Arkansas-based Bank OZK for The Standard Residences, Midtown Miami.
The projects have hit major milestones.
North’s 172-unit Domus Brickell Park recently opened and has posted 120 closings, while Rosso and Midtown’s 228-unit Standard Residences is nearing completion with only five units left to sell.
North Development, a partnership between Ricardo Dunin’s Oak Capital and Juan Carlos Tassara’s Edifica, paid off its loan in April for the building at 1611 Southwest Second Avenue.
The project offers a mix of studios, one-bedroom and two-bedroom units that are short-term rental friendly. Units were marketed from the $600,000s to $1.2 million.
Zyscovich Architects is the architect, and Urban Robot Associates is the interior design firm. Amenities include the Peacock Room, which Dunin previously described as an activated lobby with food and beverage concepts, a market, and co-working spaces for guests and the public that were inspired by the ACE hotel in New York.
The payoff comes as North pushes ahead with Domus Brickell Center, another short-term-rental-friendly condo tower nearby. The developer said that 35-story, 579-unit project at 1034 Southwest Second Avenue is more than 50 percent sold and ahead of schedule. Less than a year ago, the project secured $220 million in financing, consisting of $180 million in C-PACE funding from Coral Gables-based Bayview PACE and a $40 million mortgage from Core Capital.
A few miles north, Rosso Development and Midtown Development paid off a $45 million construction loan for The Standard Residences, Midtown Miami, the first standalone residential project from the lifestyle hospitality brand. Another Standard-branded residential tower is under development in Brickell by Newgard Development Group and Two Roads Development.
Designed by Arquitectonica, the 12-story Midtown project includes 228 residences and more than 34,000 square feet of amenities, featuring a rooftop pool, pickleball court, coworking spaces and several food-and-beverage offerings, including a Juvia Group restaurant on the rooftop.
Units range from 432 square feet to 965 square feet, and include studios to two-bedroom condos. Owners will be able to rent their units out for terms as short as one month. In October 2023, fewer than 35 units remained, priced between $500,000 to $1 million.
A JLL Capital Markets debt advisory team led by Brian Gaswirth and Jimmy Calvo arranged the financing in 2023. According to JLL, the loan was paid off ahead of schedule.
Bank OZK is one of South Florida’s most active condo construction lenders. The bank also provided PMG’s state record-setting $668 million construction loan for Waldorf Astoria Residences Miami, which is expected to become the tallest residential tower south of New York City.
Even as interest rates have gradually come down in recent years, the environment is still relatively high, and construction costs continue to climb.
Read more
Juvia to open rooftop restaurant at Standard Residences in Midtown
Development
South Florida
Standard Residences in Midtown Miami scores $45M construction loan
Residential
South Florida
Ricardo Dunin, Juan Carlos Tassara land $220M financing for Domus Brickell Center
Development
South Florida
Ricardo Dunin, Peruvian partner score $70M loan for Domus Brickell
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