Is Miami multifamily running out of steam? (Nothing lasts forever except taxes, after all.) Lionheart Capital CEO Ophir Sternberg (snapped with Irene Horuzhik, his fiancé) tells us no: he predicts 2015 will be another strong year in condo sales. Lionheart’s development, The Ritz-Carlton Residences, Miami Beach—which has 111 units and 15 stand-alone villas—has managed to sell 50% since kicking off last spring at price points from $2M to $40M. Word-of-mouth, he says, has been particularly important in attracting buyers for the property, both domestic and international, a dynamic that applies marketwide.
On the rental side, residents are demanding more—and getting it, according to Rivergate | KW Management president Marcie Williams, who was recently tapped for the position. "Amenity spaces are getting bigger,” she tells us. Residents also want to have a place to be seen and socialize, such as fitness centers with 24/7 fitness programs and lounge areas. At the same time, though units are getting smaller, residents still want where they live to be retreats with high-end finishes, large closets and USB chargers. “Every resident wants tech and convenience, no matter who they are or what part of the country they live in," she notes.
)
)
)
)
)
)
)
)
)
)
)
)