Fortune hires Jim Cohen to lead new development sales

Fortune will launch project sales in Wynwood, Coconut Grove, Miami Beach and Miami River

TRD MIAMI /
Jan.January 16, 2017 11:15 AM

Edgardo Defortuna’s Fortune International Group brought on Jim Cohen to lead all development sales, replacing a role previously filled by Andres Asion, as the firm prepares to launch several new projects this year. 

Cohen was brought on at the start of 2017 as senior vice president of development sales, he told The Real Deal. He previously handled sales for the Four Seasons Hotel & Private Residences in Fort Lauderdale, and before that the St. Regis Hotel and Residences in Bal Harbour. Cohen also worked for Turnberry Associates for 17 years.

At Fortune, he’s now leading sales for the company’s nearly $9 billion portfolio of new development sales, which includes projects like Naranza at Edgwater and Jade Signature. This year, Fortune’s sales and marketing arm will launch four third-party projects within the next two months, in areas like Wynwood, Coconut Grove, Miami Beach and the Miami River. The developer may also launch a project of its own by the end of the year depending on market conditions, Defortuna said.

Asion, who previously handled Fortune’s new development sales, left the company at the end of July to return to his company Miami Real Estate Group to capitalize on the condo market slowdown, and branch out beyond new development sales. Around the same time, Fortune brought on Susie Glass from Douglas Elliman as vice president of marketing to replace Andrea Greenberg’s role.

Preconstruction sales have remained stagnant in recent months, but Defortuna said the slowdown didn’t affect prices. He said there’s room for negotiating, but price cuts are not happening across the board.

Both Defortuna and Cohen said sales will bounce back this year, but that they are up to 50 percent off the peak. “Sales are very good considering the conditions of the market,” Defortuna, Fortune’s president and CEO, told TRD. “We’re very optimistic that Miami is still very healthy and preparing for the next wave.”

The traffic of buyers at sales centers and contracts signed since the start of the new year are both up for Fortune, Cohen told TRD. “I think everyone is reloading their ammunition,” he said.


Related Articles

arrow_forward_ios
Techrin Hijazi with Brown Harris Stevens Miami, and Ivan Ramirez with Royal Palm Residences sales team

Movers & Shakers: Techrin Hijazi joins BHS Miami, Royal Palm project names sales team & more

Ron Shuffield and Oscar Arellano

Longtime Fortune International Realty agent joins Berkshire EWM

From left: Edgardo Defortuna, Ron Shuffield, Ana Bozovic, David Martin and David Arditi

The cold spell blanketing South Florida’s luxury condo market will continue in 2020, experts say

Edgardo Defortuna, an aerial of 18551 Old Cutler Road, and renderings of the project (Credit: Google Maps)

Cutler Bay axes Edgardo Defortuna’s plans for single-family development

Andrea Masses and Nirka Burns

Movers & Shakers: agents join Fortune, Brown Harris Stevens, One Sotheby’s & more

Edgardo Defortuna, Ritz-Carlton Residences Sunny Isles Beach

Ritz-Carlton Residences Sunny Isles developers face second lawsuit from Tropicana

Jeffrey Soffer and Jim Cohen

Jeffrey Soffer hires another Turnberry alum to expand resi division

Jade Signature and Fares Noujaim (Credit: Curbed and Wikipedia)

Guggenheim Partners exec plunks down $10M for Jade Signature condo

arrow_forward_ios
Loading...