The Real Deal Miami

June 2017 Issue

Riding the condo roller coaster

Jorge Pérez unloads on the crazy Miami market, his frenemy Trump, and whether his sons will take over

When the development firm lead by condo king Jorge Pérez hit the brakes on Auberge Residences Miami, a three-tower, luxury project planned for Miami’s Arts & Entertainment District, South Florida’s real estate community took notice. When the king lays off the gas, that doesn’t usually bode well for others. So what’s next for the firm in a challenging economic and political time? Differentiation is key, says Pérez. If a division … [more]

Too many keys, too few takers

Citing weak demand, banks are pulling back on financing new rooms

Miami-Dade has occupancy issues. As tourism slumps in the wake of last year’s Zika virus threat and the ongoing financial and political unrest in Latin America, hotel development experts continue … [more]

A good time to buy a mansion

Sellers are dropping prices by millions as more high-end homes enter the market

The five most expensive home sales in South Florida within the last year involved hedge fund billionaires, homebuilders, a car salesman, a controversial news executive, a liquor company exec who … [more]

‘Crazier’ than his clients

Piero Lissoni, designer of the Ritz-Carlton Residences Miami Beach and Oceana Bal Harbour, says he doesn’t follow trends, he sets them

Don’t ask architect and designer Piero Lissoni about design trends. The playful Italian admits he doesn’t follow them. When it comes to style, he says he … [more]

South Florida’s war with Airbnb

Shifting laws have created a patchwork of confusing rules about what’s legal for short-term rentals

South Florida is a mecca for all kinds of tourists, but local governments extend little hospitality to Airbnb, HomeAway and other online home-sharing companies … [more]

The next Wynwood? Allapattah is Miami’s new hot ’hood

Developers race in as prices soar — but some urge caution

Lyle Stern had his “aha” moment on a quiet Saturday afternoon last year when he visited Miami’s Allapattah neighborhood … [more]

Wanna buy a condo? Have I got a deal for you!

Developers are ramping up incentives for buyers—including high-end fixtures, prepaid HOA fees and even leasebacks

Increasingly eager to sell out their luxury projects, South Florida developers are ramping up incentives to lure both brokers and buyers with a cherry on … [more]

Top developers mix it up

The biggest condo builders in TRD’s ranking are shifting focus as the market gets shakier

After a dismal 2016, condo developers were ready to put the year behind them. The election, the strong dollar, political instability in key Latin American markets — it all sounded … [more]

Poaching big game

Brokers see opportunity as commercial firms compete for top talent in South Florida

When Robert Given left CBRE to become vice chairman of capital markets at Cushman & Wakefield in South Florida last July, it was the culmination of months of courtship. In … [more]

Building momentum

Thousands of new apartments are under construction as rents rise — but is this the tipping point?

Demand remains robust for rental housing in Miami and the rest of South Florida, among residents and real estate investors alike. But despite the area’s population and employment growth, some … [more]

The brawn behind the boom

TRD’s ranking of biggest general contractors reveals increasing competition in an uncertain market

Cranes still hover at construction sites throughout South Florida, tall testimonies to the high-rise construction boom that has rebuilt skylines on the state’s Southeast coast. But in the shadows of … [more]

Delray Beach grows up

New mixed-use projects are ramping up, but more quality office space is needed

Over the past 20 years, Delray Beach has steadily grown its reputation by developing its Atlantic Avenue corridor into a high-end destination for restaurants, bars, nightclubs and boutiques with a … [more]

South Florida bucks the national retail trend

Despite market woes, projects are going up across the tri-county

If you’ve taken any time to look up from your Amazon cart, you may have heard: Brick-and-mortar retail is dead. The first half of 2017 has already seen dramatic announcements … [more]

Where’s the Chinese money?

South Florida remains a distant afterthought for most Chinese commercial investors

When a Beijing-based partnership scooped up a Brickell Avenue development site for $74.5 million in 2014 and subsequently announced plans for a $1 billion mixed-use complex, it marked the first … [more]

The Closing: Jackie Soffer

Jackie Soffer is the CEO and co-chair of Turnberry Associates — one of South Florida’s largest privately owned real estate companies, whose properties include Aventura Mall, the Fontainebleau Miami Beach, … [more]

Editor's note: Building a life after condos

When it comes to South Florida condo development, it’s Jorge Pérez’s world, we all just live in it. The condo king’s Related Group has more than four times the number … [more]