WATCH: The next wave of South Florida development

Michael Shvo: “I don’t lose sleep at night over oversupply or undersupply”

TRD MIAMI /
Oct.October 25, 2019 01:30 PM

The cyclical nature of Miami’s condo market has many developers shifting toward rentals – but not Michael Shvo.

The New York developer, who is making a big push in Miami Beach, said that as long as you have the right site and project, the overall market’s performance is irrelevant.

“It doesn’t really matter what the market is. You build something special in the right location, you’re not competing with something in Brickell or in Wynwood,” Shvo said at The Real Deal’s Sixth Annual Miami Showcase & Forum last week. “I don’t lose sleep at night over oversupply or undersupply.”

Shvo was joined by Laurent Morali of the Kushner Companies, Florida East Coast Realty’s Jerome Hollo, and developer Lissette Calderon on the panel, “The next wave of South Florida development,” moderated by TRD Editor-in-Chief Stuart Elliott.


Related Articles

arrow_forward_ios
Lissette Calderon and a rendering of the site

Lissette Calderon buys land for third rental project in Allapattah

Lissette Calderon buys land for third rental project in Allapattah
Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings
“The day of reckoning is coming” warns Miami condo market expert Peter Zalewski

“The day of reckoning is coming” warns Miami condo market expert Peter Zalewski

“The day of reckoning is coming” warns Miami condo market expert Peter Zalewski
From top left, clockwise: Palms Hotel and Spa, Circa 39 Hotel, the Richmond hotel and Hard Rock Cafe Miami

The Palms, Shvo’s Miami Beach hotels, and Hard Rock Café lay off hundreds

The Palms, Shvo’s Miami Beach hotels, and Hard Rock Café lay off hundreds
Only 20% of Related Group’s commercial tenants paid rent in April

Only 20% of Related Group’s commercial tenants paid rent in April

Only 20% of Related Group’s commercial tenants paid rent in April
Jay Parker, Mike Pappas and Beth Butler

SoFla brokerage execs optimistic, say deals are still closing

SoFla brokerage execs optimistic, say deals are still closing
Rendering of Wynwood 28 and Laurent Morali 

Kushner lands $18M loan for Wynwood projects

Kushner lands $18M loan for Wynwood projects
From top left, clockwise: Wynwood 28, the Allapattah apartment building, Miami Riverside Center, and the Target-anchored mixed-use project in Miami’s Overtown

Miami board approves 5 major mixed-use, multifamily projects

Miami board approves 5 major mixed-use, multifamily projects
arrow_forward_ios

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

Loading...