Keyes Company’s Mike Pappas, EWM’s Ron Shuffield and Douglas Elliman’s Jay Parker discussed the state of South Florida’s residential market at an event held at the Residences by Armani/Casa sales gallery last week.
Master Brokers Forum‘s chair Jeff Morr moderated the event, which drew more than 100 of the forum’s members to the newly completed sales center at 18325 Collins Avenue in Sunny Isles Beach. The panelists discussed the shifting profiles of foreign buyers, global political trends, a potential rise in interest rates, pricing, and the upcoming presidential election.
Dezer Development and the Related Group are co-developing the Residences. They broke ground earlier this month and are set to close on a $315 million construction loan from Wells Fargo and the Blackstone Group. More than 65 percent of the project is under contract, with prices ranging from about $2 million to more than $15 million. – Katherine Kallergis and Sean Stewart-Muniz