On April 22, 2020 PROFILEmiami hosted an interactive webinar discussion with over 500 viewers focusing on the impact that the COVID-19 pandemic will have on the residential real estate markets in South Florida. Condo titans Jay Parker, Edgardo Defortuna and Carlos Rosso explored topics such as how are South Florida’s leading real estate professionals are reacting to the crisis, how or will buyer behavior and demographics change, what future opportunities may present themselves and how will lifestyle changes due to the pandemic, quarantine and social distancing change how we think about and develop residential real estate.
Watch: https://youtu.be/xFQSR1naDoI
Panelists:
Edgardo Defortuna
President & CEO - Fortune International Group
Mr. Defortuna is President, CEO and Founder of Fortune International Group, a Miami-based full- service real estate firm recognized throughout South Florida, Latin America and Europe as a leader in high-end luxury real estate. He oversees all of the company’s activities across all of its business units. Mr. Defortuna is involved with the strategic decision making of the group, as well as the day-to-day operations of each of its divisions. He started the business in 1983, and quickly became a driving force in real estate. Through his company’s success and far reach into U.S., European and Latin American markets, Mr. Defortuna is widely recognized for having made a significant contribution to the internationalization of Miami and its reputation as a global business, trade and vacation hub. He currently serves as a member of the Mayor of Miami’s International Council and also as Director of the Argentine-U.S. Chamber of Commerce, in Miami.
Jay Philip Parker
CEO - Douglas Elliman Florida
Real estate industry leader and veteran, Jay Phillip Parker has served as the Chief Executive Officer of Douglas Elliman’s Florida Brokerage since 2013. Responsible for the advancement of a leading provider of luxury real estate services across Florida, he has successfully grown Douglas Elliman’s presence in markets from Miami to Jupiter to Palm Beach and St. Petersburg with a total of 21 offices and more than 1,100 agents. Under Jay’s leadership, Douglas Elliman Florida marked a banner year in 2019 with $5.3 Billion in total sales volume, which was up 12% over the prior year. Jay has been a key figure in the growth of the brand, which is now represented in luxury real estate markets in 60 countries and six continents through its partnership with London-based Knight-Frank Residential. Jay is also an active member of the Forbes Real Estate Council, an invitation-only community for real estate executives.
Carlos Rosso
President, Condominium Division - Related Group
Since joining Company in 2002, Carlos Rosso has been responsible for a broad range of activities. As President of the Condominium Division, he has directed all aspects of residential development both in various properties in Florida and internationally in Mexico, Colombia, Argentina and Uruguay. Throughout his career Mr. Rosso has developed more than 16,000 units, bringing his depth of experience in construction, project financing, land acquisition and sales and marketing. His broad experience in real estate includes having worked as Vice President of Real Estate Development for Investment Properties in Boston and ten years as Project Director for Besix International, overseeing the development and construction of over ten million square feet of multi-family, hotel and office buildings in Europe, the Middle East and Africa. Mr. Rosso graduated summa cum laude from the Universidad de Buenos Aires with a Master’s degree in Architecture. He also earned a Master’s degree in Real Estate Development and Finance, with the highest honors, from the Massachusetts Institute of Technology (MIT).
Demetri Demascus
Co-Founder & CEO - PROFILEmiami
MODERATOR: Demetri Demascus is the co-founder and CEO of PROFILEmedia, a digital publisher and events platform where he is editor of the popular real estate news publications PROFILEmiami and PROFILEnyc. Demetri is involved in various real estate endeavors and investments including leading Business Development and acquisitions for Galium Capital, a Miami-Based Private Equity Firm that invests in commercial real estate across the United States. Demetri is also a managing partner with real estate investment firm Trilogy Partners and is a licensed Real Estate Broker in the state of Florida. Demetri is a co-founder of Game Day Skincare, which produces and distributes the only skincare specifically designed for active men worldwide. Demetri was previously also a weekly contributor to Elite Daily exploring entrepreneurship. Demetri graduated from Babson College with an undergraduate degree in business in 2013 and University of Miami MBA 2020.
Speakers:
Edgardo Defortuna - President & CEO, Fortune International
Jay Parker - CEO, Douglas Elliman Florida
Carlos Rosso - President Condominium Division, Related Group
Moderator: Demetri Demascus - CEO & Co-Founder, PROFILEmiami
Topics:
What is your personal outlook on how COVID-19 will ultimately affect the South Florida residential real estate markets? Will there be permanent changes to the market or the industry? Which markets will see the most change?
How are you handling projects currently under construction?
What lessons did you learn from past recessions and how did they shape how you’re handling today’s crisis? Have you learned any lessons from the COVID-19 crisis?
How will quarantine and social distancing change the way we think about residential real estate?
How will it impact the design and development process?
How will it impact the sales and marketing process?
How will it impact consumer lifestyle at home? Will consumers want more space, more land, more amenities in their home? How will this differ between condo and residential?
How will the impact on the market differ between single family and condominium? Will we see a period of suburbanization?
What steps have you guys taken to position yourselves and your companies to emerge from the crisis when we can get back to work?
Partners:
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