Peebles Corp. chief credits NYC entrepreneurs for Miami’s new stature as a global market

TRD MIAMI /
May.May 15, 2013 10:00 AM

Miami has become a global real estate market to the credit of New York developers, R. Donahue Peebles, chairman and chief executive of the Coral Gables, Fla.-based Peebles Corporation, said in a New York Times interview.

“Strategically, New York and Miami are very well connected. When you look at the last real estate cycle, much of the big boom in Miami took place because New York entrepreneurs and developers came to Miami to develop,” he said.

Local government in South Florida are “reluctantly partners,” Peebles said, especially in Miami Beach.

Miami has bounced back quickly from the 2008 economic collapse because of international buyers, he said.

Among the largest African-American-owned developers in the U.S., Peebles Corp. focuses on residential and hospitality developments, and has projects in Miami, Washington, D.C., San Francisco, Las Vegas and New York.

“One of the criteria is I have to like the place — I enjoy being there myself. I’m from Washington, and in 1996 I went to Miami on vacation, liked it, saw an opportunity, and in ’98 moved there and built a business there,” Peebles said. [NYT]Emily Schmall


Related Articles

arrow_forward_ios
From left: Don Peebles and Michael Swerdlow(Credit: Swerldow Group)

Overtown project in turmoil: Peebles sues for $175M, closing delayed, Terra quits

Overtown project in turmoil: Peebles sues for $175M, closing delayed, Terra quits
One Sotheby’s names SVP of marketing

One Sotheby’s names SVP of marketing

One Sotheby’s names SVP of marketing
Karen Elmir, Camilo Franco, and Caitlyn Henderson

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows
Don Peebles and a rendering of the project

Don Peebles to re-open the Bath Club in Miami Beach

Don Peebles to re-open the Bath Club in Miami Beach
WATCH: Don Peebles leads diversity in real estate talk at The Real Deal Miami event

WATCH: Don Peebles leads diversity in real estate talk at The Real Deal Miami event

WATCH: Don Peebles leads diversity in real estate talk at The Real Deal Miami event
Don Peebles

WATCH: Don Peebles on why developers love Miami’s volatility

WATCH: Don Peebles on why developers love Miami’s volatility
Sea level rise video

WATCH: Developers and brokers weigh in on Miami sea level rise

WATCH: Developers and brokers weigh in on Miami sea level rise
Sawgrass International Corporate Park

Brookdale buys back Sawgrass Park portfolio for $80M

Brookdale buys back Sawgrass Park portfolio for $80M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...