Real Estate

Miami Developers Market Outlook

By Araceli Villanueva

This is from one of the many real estate events I attended in October – November, here some awesome notes taken. South Florida is composed by 38% foreign born population. Over all we have a very stable market. There are more sales now than ever before. Tourism economy brings in 100 billion dollars a year because we have the biggest tourism traffic from all over the world more than any other city; about 20 million visitors. The population is growing by 60k a year, in result to people moving to Miami. The city is made up of multiple neighborhoods, all areas are different. Miami is evolving and it is a great world gateway city to live in. Here are some of the biggest developers in town and their current projects.

Jeffrey Sofferjeffrey soffer

He is the owner of Aventura Mall. He is currently building mixed projects in Miami and says that they are pockets with opportunity to grow. His projects, such as east of Biscayne Blvd and Sunny Isles are sold as a lifestyle and not just a place to live. He owns the Solomia Project.

solemia project

Richard LeFrakRichard-LeFrak

Owns part of Bank United. He is s huge NYC developer who is bringing his experience down to Miami specifically the Aventura area. During the financial crisis in 2009, he decided to make an investment down here in the amount of 2.7 billion. He bought lots of apartments from Aventura to Brickell. He also bought a prime land of 180 acres known as Biscayne Landing.

biscayne landings

Gil Dezer
Dezer

He bought the Intercoastal mall on 35th Av and 163rd St he is planning to build a 2100 units, retail space.

He started building in 1999 and his style is to build with brand such as Armani, Trump, Porsche…

Porsche building has only 6 units left, Armani Casa is 60% sold, Sunny Isles is the Dubai of Miami. What makes Sunny Isles so amazing is the fact that everything was built all at the same time which makes it a neighborhood that was born as a whole.

sunny isles

Michael Simkins

Michael-Simkins-201x300

His focus is mainly in Downtown Miami. There at lots of huge companies wanting to move their headquarters to Miami but there isn’t much space for them to move, he is focusing in trying to get  the zoning in order to build seven buildings which will have available work spaces for those companies. Micro units in downtown are as little as 250 SqFt for the millenials.

Overtown-MiamiWorld-MiamiCentral

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