Very few investors have been able to successfully navigate the changing retail and office market landscape’s as well as Galium Capital’s Managing Partner, Jacques Bessoudo. Building his firm to over $350 million of commercial assets in just two short years, Galium Capital is poised to be one of the major private equity players over the next decade in South Florida real estate.
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Nukondo: Capturing the International Buyers Market in Miami
South Florida has and continues to be a hotbed for international buyers, according to the 2017 Survey conducted by the Miami Association of REALTORS. Foreign buyers purchased 15,400 residential units (between August 2016 - July 2017), totaling over $7.2 billion in sales in the Miami-Dade, Broward, Palm Beach, and Martin counties.
A new real estate tech company called Nukondo is attempting to capitalize on this market segment. Their app provides a platform for real estate developers and new construction brokers to stay informed on the latest luxury projects. It standardizes and distributes this information globally, so that buyers and their agents can decide which condominium is most suited for their needs.
After three months of beta-testing, Nukondo has successfully on-boarded 72 of the most prominent projects in Miami such as One Thousand Museum, Missoni Baia, and Turnberry Ocean Club, with over 10,000+ units in inventory. “Our app helps developers expose their projects globally 24/7, allowing them to speed up sales and cut marketing costs,” says founder Jorge Brugo. “Be informed when you’re searching for that special new condominium and make sound buying decisions.”
Nukondo exposes international buyers to the Miami and Florida markets and directs them to a condominium sales team. In Miami, these international buyers are primarily coming from:
1. Argentina: 15%
2. Venezuela: 11%
3. Canada: 11%
4. Colombia: 9%
5. Brazil: 8%
The company will move into its full release once user feedback and content curation have been finalized. The company plans to scale beyond its pilot market of Miami, into other major U.S. and international metropolitan cities.
Article by: Katya Demina & Stephanie Warren