Tawfik: “This is the time to be a New York seller and a Miami buyer”

New York is beginning to show more interest in Miami, particularly in Midtown Miami, according to a new feature in the New York Daily News. The Cayre development, located just south of 36th Street, has long been dubbed “Soho South,” but it’s now gotten a new moniker: “SoHo in the Sun.” As The Real Deal first reported, New York developer Sam Tawfik paid $12 million last month for 27 units in Midtown, and has plans for more. “This is the time to be a New York seller and a Miami buyer,” Tawfik said. “The upside is better and competition less intense in Miami. Every hedge fund and international investor wants to buy in New York. Midtown is like a mini-boomtown.” [NYDN]