Our first in-person interview and building tour since the COVID-19 shut-down was with Joseph Kavana, developer of $1.5 billion, 65-acre master-planned Metropica project which recently received TCO for its first residential offering, ONE Metropica Residences, design by YOO.
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PROFILE Exclusive: New Age of Branded Residences With Gil Dezer, The Developer Behind Iconic Luxury Collaborations
Just before the COVID-19 shutdown, PROFILEmiami had the opportunity to meet Gil Dezer, CEO of Dezer Development, at the Residences by Armani/Casa grand opening party in Sunny Isles Beach. The building, which was developed in partnership with Related Group, was unveiled in full Miami-style with the grandeur you would expect from the two development firms.
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Clockwise from the top-left corner: James Tate, Demetri Demascus, Shahab Karmely and W. Allen Morris.
Why Rent Strikes Are Bad for Everyone and What’s Going to be Done about Unemployment?
Since thousands of businesses were deemed non-essential and forced to shut their doors, reemployment assistance claims over the last six weeks have surpassed two million in South Florida. With a tourism-dependent economy plus an older population, Florida is more vulnerable to economic shock, which is why it is one of the top five states with the highest number of claims.
Read MoreRewind: W. Allen Morris, Shahab Karmely And Jimmy Tate On Emerging From the COVID-19 Crisis
On April 30, 2020 PROFILEmiami hosted an interactive webinar discussion focusing on emerging from the COVID-19 pandemic and the resulting economic fallout’s impact on the South Florida real estate market. The panel featured South Florida real estate titans W. Allen Morris, Shahab Karmely and Jimmy Tate.
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PEOPLE TO WATCH: Meet Our Panelist Joe Furst, Principal of Place Projects
Join us on March 5th at X Miami for People to Watch: Leaders in South Florida Real Estate, where Joe Furst will be discussing his long-term value creation play in Wynwood and other neighborhoods, how he’s managed to cultivate the right partnership structure in his deals, and why he’s selective about projects that fit his skills, a hybrid between controlled placemaking, development and operations, including hospitality.
Read MoreVideo: 2000 Ocean by KAR Properties Construction Update
New York-based developer KAR Properties has shared their latest construction update and renderings for 2000 Ocean, a beachfront condo development in Hallandale Beach. It has been going vertical since June 28th, when Suffolk poured one of the largest concrete pours in the city in a decade. Today, the building is over 50% complete and hurricane glass has been installed up to the eighth floor.
Upon completion, the building will be positioned closer to the ocean than its neighboring buildings and will include luxury amenities like furnishings by the Italian design brand Minotti, a transformative art curation program spearheaded by curator Megan Kincaid, and wellness amenities found in some of the world’s most luxurious resorts.
KAR Properties expects to finish construction of 2000 Ocean in mid-2021.
Exterior renderings.
Poolside at dusk.
Sauna.
By Katya Demina
PEOPLE TO WATCH: Meet Our Panelist Ryan Shear, Managing Partner of PMG
Join us on March 5th at X Miami for People to Watch: Leaders in South Florida Real Estate, where Ryan Shear will be discussing how PMG stays innovative with creative housing solutions, how declining ownership is affecting the multifamily market and how he plans to build projects that will withstand the tests of time.
The developer currently has more than 5,000 units in the pipeline, including their largest multi-family project to date with over 900 beds. In December, PMG announced their latest concept, Society, the natural evolution of X Social Communities, as a response to the insatiable demand for attainably-priced, downtown rental communities. The new brand will debut with downtown mega-projects Society Las Olas (formerly X Las Olas) in Fort Lauderdale, Society Biscayne (formerly 400 Biscayne Boulevard) and Society Wynwood in Miami.
Society is aimed at a broader demographic, unlike X, which is geared towards millennial. Only about 30% of Society buildings will be dedicated to co-living options, as opposed to 35% - 40% in X buildings.
Society Las Olas in Fort Lauderdale.
Co-living has been an enticing model for residents, investors and developers alike, as urban cores continue to become saturated and the demand for housing skyrockets. Following the success of X Miami, the fastest building in Downtown Miami to lease up, PMG took lessons they learned from X Social Communities and augmented them. Society will focus more on community inclusivity and expanding their finish and furnish options, while also adding to the immersive and experiential aspects of the building.
As a managing partner of PMG, Shear is responsible for general company operations, vision and growth. For nearly 15 years, Shear has played an instrumental role in the company’s success in Miami and beyond. He currently manages a growing portfolio of over $4 billion in real estate assets across the country. Completed condo projects spearheaded by Shear include Echo Aventura, Echo Brickell and Muse Residences in Sunny Isles. In 2018, Shear announced PMG will be bringing The Waldorf Astoria Residences to Miami in 2020.
The group recently opened X Miami, a 464-unit multifamily social community pioneering the “Rent By Bedroom” model for Class A luxury apartments in the urban core, which became the fastest building to lease in Downtown Miami. PMG will continue to expand this multifamily model nationally under Shear's direction. A native of Miami’s Coconut Grove and alumnus of Emory University's Goizueta School of Business, Shear lives in Brickell with his dog Larry and enjoys pico de gallo with every meal.
Hear from Ryan on March 5th at People to Watch: Leaders in South Florida Real Estate. Get your tickets below.
Event Page: http://profilemiamire.com/profilemiami-presents-people-to-watch-leaders-in-south-florida-real-estate-x-miami
Society Biscayne in Downtown Miami.
By Katya Demina
PROFILE Exclusive: Private Equity & Navigating A Changing Retail Landscape With Jacques Bessoudo of Galium Capital
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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PROFILE Exclusive: Inside The Art of Interiors & Designing Paraiso Bayviews With Style Icon Karim Rashid
PROFILEmiami had the exclusive opportunity to tour with Paraiso Bayviews with Karim Rashid, the newest Miami condo in Edgewater by the design and interior icon who has designed projects throughout the world.
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PROFILE Exclusive: Inside Developing The Renzo Piano & RDAI-Designed Eighty Seven Park With Terra's David Martin
PROFILEmiami had the exclusive opportunity to sit down with David Martin, President and co-founder of Terra, and the mastermind behind some of Miami's most architecturally significant condos of this cycle include Bjarke Ingels-designed Grove at Grand Bay, the Rem Koolhaas-designed Park Grove, and Rene Gonzalez-designed Glass.
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