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

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
Don Peebles and the Bath Club (Getty, Peebles Corp.)
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Judge slaps Don Peebles’ Bath Club Entertainment with $1M in sanctions
Don and Katrina Peebles with their Old Cutler Road home (Getty, The Jills Zeder Group/photography by 1 OAK Studios)
Developer Don Peebles relists Coral Gables estate for $15M
Developer Don Peebles relists Coral Gables estate for $15M
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
arrow_forward_ios

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

Loading...