South Florida
South Florida A hot topic of discussion at the brokers panel was the exit of Russian buyers from the market and the subsequent influx of New Yorkers and Californians looking to buy luxury homes. “Right around the time the United States imposed economic sanctions on Russia over its actions in the Ukraine, Russian sales dropped off the cliff,” Craig Studnicky, principal at International Sales Group said. From left: Jay Parker, CEO of Douglas Elliman Florida; Nelson Gonzalez, senior vice president at EWM Realtors; Tony Cho, president and CEO of Metro 1; Alicia Cervera, managing partner at Cervera Real Estate; Jill Eber, broker at The Jills, Coldwell Banker; and Studnicky.
South Florida’s sizzling real estate market, and its moguls, shine as more than 4,000 turn out for TRD showcase Forum panelists discuss topics ranging from the impact of rising constructions costs on new development to Miami’s growing global influence on design
TRD’s Chris Cuomo (right) and guest
From left: Ivana Rashid, group leader at L’Oréal; Karim Rashid, founder of Karim Rashid Inc.; Sonia Figueroa, senior vice president at The Related Group
Speaking on the developers panel about the continuing rise of Miami’s real estate prices, The Peebles Corporation CEO Don Peebles said “the buyers setting the prices are New Yorkers…They are not bargain shoppers.” From left: Richard LeFrak, chairman of the LeFrak Organization; Peebles; Ron Krongold, CEO of Gold Krown Financial; Edgardo Defortuna, president of Fortune International Group; Nitin Motwani, managing director at Miami Worldcenter Group; and Stephen Owens, president of Swire Properties.
ON FOREIGN INVESTMENT IN MIAMI:
“There is significant interest from China to get into Miami... Once it starts, it will be quite robust and opportunistic.” JAY PARKER, DOUGLAS ELLIMAN FLORIDA
The Moore Building in Miami’s Design District was packed from top to bottom for TRD’s showcase.
T
By Heather Grossmann oday’s titans of real estate joined a crowd of more than 4,000 industry professionals at The Real Deal’s annual South Florida Real Estate Forum & Showcase last month at the Moore Building in Miami’s Design District.
Chad Oppenheim, principal of Oppenheim Architecture + Design
From left: Selene Arvesu; Michelle Minagorri; and Christian Tupper
Luminaries including Richard LeFrak, whom fellow panelist
Don Peebles described as the “Warren Buffett of real estate,” spoke to the standing-room-only crowd about the most pressing issues facing the market in a series of panels during the all-day event. The heavy-hitters touched on topics ranging from the impact of rising constructions costs on new development to Miami’s growing global
Jack Paget and Micheal Newman
influence on design.
From left: TRD’s Yoav Barilan; tennis star Venus Williams; One Sotheby’s Ben Moss ; and TRD’s Ross Fox.
The networking flowed throughout the packed four-story space as attendees took in the 30-plus new developments on display. LeFrak joked that the huge turnout would have made it impossible
From left: Daniel De La Vega; Jennifer Santana; Kayla Verera; and Reginald Fairchild
for him to find parking, had he not owned a nearby property. In the evening, a select group of VIPs came to the Moore Building for a post-event reception. Guests included One Sotheby’s International Realty sports and entertainment division managing director Ben Moss and tennis star and
Eric Kalis, TRD South Florida bureau chief
V Starr Interiors owner Venus Williams. From left: Ryan Shear, principal at Property Markets Group; Veronica Escobedo, director of marketing at International Sales Group; and Philip Spiegelman, principal at International Sales Group.
From left: Isabelle Leon; Vanessa Ballestas and Irina Tretiakova
Peter Zalewski, TRD columnist and Condo Vultures founder.
It was a full house as real estate’s power players flocked to the panel discussions.
ON THE SOUTH FLORIDA MARKET:
“What woke me up is when I saw the aggressive behavior of foreign buyers in Miami... I saw an opportunity to pick up additional assets.” RICHARD LEFRAK, LEFRAK ORGANIZATION
68 November 2014 www.TheRealDeal.com
Steven Gurowitz, CEO of Interiors by Steven G.
The designer and developers behind Metropica. From left: John Hitchcox, co-founder of Yoo; Scott L. Leventhal, co-founder of The Trillist Companies; Joseph Kavana, co-founder of The Trillist Companies; Jordan Kavana, chief operating officer of K Group Holdings; and Michel Besso, financial director of K Group Holdings.
ON MIAMI AS THE NEW TRENDSETTER:
“Miami is at the forefront of design… We just did our first project in Asbury Park, N.J. The client asked us to give them something from Miami.” CHAD OPPENHEIM, OPPENHEIM ARCHITECTURE + DESIGN
Amir Korangy, TRD publisher
PHOTOGRAPHY FOR THE REAL DEAL BY JOSE LARROTTA
70 November 2014 www.TheRealDeal.com