A new real estate firm is opening in Miami, and it’s focusing on helping Chinese investors buy in South Florida.
American Da Tang Realty, Chinese businessman Dr. Shanjie Li’s latest venture in Miami, will celebrate its grand opening Thursday.
Li is the firm’s common thread to the American Da Tang Group, a high-end concierge service for the Chinese elite looking to come to the U.S.
The company will focus on acquiring properties for Chinese buyers interested in Miami — though it won’t exclude non-Chinese clients, Seth Gordon, Li’s associate, told The Real Deal.
Fresh information about Miami has only recently begun to surface in China, and the Chinese elite are attracted by the city’s clean air, clean water and glamour, Gordon told TRD.
A report released Tuesday by Miami’s Downtown Development Authority cited the potential for more Chinese buyers in the local condo market. The DDA’s “First Quarter Greater Downtown Miami Market Residential Real Estate Market Study,” conducted by Integra Realty Resources, said that growing interest is coming from China — one of the few currencies seeing gains against the dollar.
An affiliate of the American Da Tang Group scooped up a Brickell development site for $74.8 million in cash in December. Though there are no hard plans for the 2.39-acre site at 1430 South Miami Avenue, Gordon said Da Tang Realty will handle contracts for the development when they are available.