If there’s one thing I love about covering this industry and its many facets, it’s the personalities. To draw millions in funding from investors who buy into your vision, one cannot be a shrinking violet. It’s the style, the panache and the showmanship of a leader that often play a large role in a project’s success (or failure).
Known for his easy smile and philosophical musings, this edition’s cover star, Moishe Mana, has no shortage of charm. But whether or not the developer can execute his vision for his $375 million in property holdings in downtown Miami may be beyond the scope of what charisma can accomplish.
As the developer seeks to raise $300 to $400 million to create the “ecosystem” of his dreams, Miami’s notoriously difficult permitting process threatens to tank the endeavor that began five years ago. But Mana’s not giving up any time soon. Check out the story from associate editor Katherine Kallergis and reporter Keith Larsen.
As this edition is the first of a new decade, we wanted to cap off the last one with an in-depth look at the biggest deals that closed in 2019. TRD’s research team, with the help of Colliers International, dug into records to rank the priciest sales and biggest leases in all asset classes. Those who are doing some nail-biting over the cycle’s end may be heartened to see that large sales are still happening. And despite a lack of buyers for the glut of luxury condos on the market, some huge residential sales closed. Our look at the most expensive resi sales shows that records are still being broken, for Palm Beach mansions, at least.
With so much firepower in the issue already, I’m proud to also note that the edition’s Closing interview features a cabinet member from the Trump administration. Aforementioned reporter (and Opportunity Zones expert) Keith Larsen traveled to Washington, D.C., to sit down with Secretary of Housing and Urban Development Ben Carson for a no-holds-barred conversation on affordable housing, Opportunity Zones and Carson’s personal relationship with the president. A thing we learned: Trump is “actually a lot of fun when he’s in a pleasant setting and not being attacked.”
Enjoy the issue!