New York-based Goldman Properties, founded in 1968 by Tony Goldman, its CEO, has made its mark in real estate by developing, revitalizing, and making urban neighborhoods habitable. Some of Goldman’s notable projects include converting abandoned buildings — such as the Soho Building in New York City — into luxury lofts, buying up Miami’s Wynwood district and creating a community centered around art and dining, there, as well as restoring 25 properties in Philadelphia’s City Center.
Goldman Properties has offices in New York, Boston, Philadelphia and Miami Beach, employing over 250 people. With dozens of projects to his credit, Goldman Properties’ revenue is an estimated $75 million. Goldman talked to The Real Deal about where he believes the Miami real estate market is today and the best opportunities for development.
Where do you think the Miami market, overall, is right now?
I believe it’s strong in some areas like the residential rental market, moderate in the commercial office market, strong in retail, and moderate to weak in warehouse/industrial. Areas of the city will differ.
What is the climate for development like?
Not yet ready — two to three years away for rentals; longer for condos and new office buildings.
What are the best opportunities for development?
Adaptive reuse of quality, well-located buildings.
What is the most overrated part of the Miami market?
There is no overrated part of Miami. To the contrary there are plenty of underrated markets all over the city.
What are your biggest concerns about the market?
The banks and financing criteria.
What is the most surprising thing about the Miami market right now?
Its resilience. It’s a city with many issues like any city, but it is the international city of growth.
Wynwood Kitchen & Bar opened in the vicinity of Joey’s – a restaurant your son opened — with both restaurants in the once flagging Miami district of Wynwood. What future projects, or ideas, do you have for the area?
This year we will unveil the Wynwood Building, the district’s first industrial, cool office and retail building. We have activated NW 26th Street connecting NW Second to Fifth avenues with several projects on 26th Street. We have expanded Wynwood Walls and added many world-class street art murals to the district.
What is the status of the 14,000-square-foot performance studio in a warehouse on Northwest 26th Street, for an arts group called the Miami Light Project?
The Light Box at Goldman Warehouse is open [since April 2011] and operating and a superb addition to the neighborhood adding an ongoing collaboration of our growing local arts organizations and performances.
What are you doing for Miami Marine Stadium off of the Rickenbacker Causeway on Virginia Key?
Working with the Friends [Friends of Miami Marine Stadium -- a volunteer organization committed to preserving the landmark] to assure a big vision approach to the whole place, stadium and surroundings.
Compiled by John Zur
August 09, 2011 at 10:02 pm, Blanca Guitron said:
Tony if you need a pfrofessional Real Estate Broker, please contact me at 954-461-3124 or Divine Providence Realty, in Florida
http://www.divineprovidencerealty.com
August 10, 2011 at 9:44 am, jo jovisheim said:
Blanca, if Tony needed you, you would already have his cell phone and would be doing deals with him. gimme a break!
August 10, 2011 at 9:45 am, Anonymous said:
No questions about Manhattan? Are they currently doing any projects in NYC?
August 10, 2011 at 10:51 am, Anonymous said:
Blanca a professional broker would know how to spell “pfrofessional” or pay attention to their posting
August 11, 2011 at 12:15 pm, jose fernandez said:
T he good news for condos is rents are going up all over the miami core, and tony goldman is about to sweep into downtown miami and buy every corner he can. i got excited just hearing that golman is thinking dwtwn. love grows where tony goes
August 10, 2011 at 12:40 pm, Tony Goldman said:
Any condos being sold today are ones that were reclaimed by the banks that financed them and further other banks or vulture funds that bought out the foreclosing banks at a fraction – some of those properties are selling at less than half of original prices. No new buildings will be built for several years. Most of those reclaimed buildings have all gone rental. TG
August 10, 2011 at 2:59 pm, R Shields said:
It’s pretty clear that even the most visionary real estate developers have a limited view of the market reality and focus on what they know or what serves them best. Tell Jorge Perez he should wait to build Apogee on the ocean, that banks or vulture funds absorbed all 20,000 units of inventory is ludicrous or that Miami industrial market hasn’t only rebounded but taking off with record sales and leases being done ahead of the port expansion. I would love to see his robust industrial market as I have only sold or leased 280,000sf in the past 8 months.
August 15, 2011 at 8:27 am, Lyddy said:
Holy concise data batamn. Lol!
August 12, 2011 at 7:01 pm, Anonymous said:
Of course new buildings are right now under construction, one of the most important is Brickell center or something like this, would be residential and commercial, are Mayor Tomas Regalado was on the site of the construction, it’s going to be the biggest on brickell, go to google or drive around.
August 09, 2011 at 8:13 pm, Anonymous said:
So how are new condos still be built and according to the marketing people selling…W Residences for example?
August 12, 2011 at 7:30 pm, Anonymous said:
didn’t you go to PS 6 and have a brother named Mark?