TWO TRENDS IN MIAMI MULTIFAMILY
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.