South beach RE?
What does the Miami/south Florida real estate scene look like?
What are some well known REPE shops and or developers in Miami? Been thinking about getting out of New York for all the reasons. Would love any insight here. Thanks.
Based on the most helpful WSO content, here are some insights into the Miami/South Florida real estate scene and well-known REPE shops and developers in the area:
Miami/South Florida Real Estate Scene:
Well-Known REPE Shops and Developers in Miami:
These firms are recognized for their significant presence and activity in the real estate private equity space, particularly in major markets like Miami.
Additional Considerations:
If you're considering a move from New York to Miami for real estate opportunities, these insights should provide a good starting point.
Sources: REPE vs REI, Development vs. REPE, What is REPE?, Do I work in REPE?, List of MM REPE in New York or LA?
I'm not in Miami so others can chime in better but from my understanding is it's pretty fragmented. Not to say there aren't some sick gigs out there, but much more finding the needle in the haystack than NYC or other major gateway markets.
How is your Spanish? I'm not going to say its mandatory, but a lot of the PE firms down there are brining in money from South America and Spanish is the spoken language in the office. Being bilingual will make you eligible for far more roles.
Does Spanglish count lol
Miami area, specifically Coral Gables and Brickell, slants more international (think money from South America, Russia, more polished NYC type firms). These are where most of the major REPEs in South Florida are located, and larger national shops like Starwood. Definitely helps to speak Spanish at some of these places more so than up north past Broward County - it's more Latin than Palm Beach county, which skews WASPy (excluding Boca Raton).There's a lot of young professionals who will move down from NYC in their late 20s to Brickell looking for a change, last only a year then bounce back up north. I've seen it so much it's almost a trope at this point, especially during COVID. It kind of sucks to live in Miami full time IMO unless you grew up there - there's a perception that there is a lack of genuine, normal people who work real jobs and instead you get more "entrepreneur/crypto/small business owner with 7 different income stream" types - there's a reason GTA 6 is taking place there lol. Doesn't feel real, lot of people faking it. Fun for a year, but not somewhere to put down roots for most people.
Lot of developers based up in Fort Lauderdale/Palm Beach county. Mill Creek, Related have their Florida headquarters there, along with a decent number of asset managers. Kind of goes hand in hand in with all the wealth management/private client banks that are building out their books given the recent influx of wealthy retirees.
Palm Beach County is more so family offices - specifically in Jupiter, Palm Beach, Boca Raton, Delray Beach, given that's where a lot of the wealthy families spend their annual 6-months + a day.
Definitely a lot of opportunities down here if you know where to look, but they're more niche than what you would find from recruiters out of say, a market like Chicago or NYC. Less larger national firms, more boutique.
Dude thank you for the comment. Really appreciate the insight. Yeah I’m afraid that Miami just has a bad stereotype in general but if there is the right opportunity then who gives
I would check out this thread, pretty sure they give most of them.
I would disagree with the above comment, I've lived in Miami for 10 years and did not grow up here. Married, family, the whole thing. I will say people from NYC typically don't like Miami from my experience. It's too laid back, too slow paced, and even I admit the food options are not even remotely as good. I've at least had a very positive experience.
Thanks for the link to the thread. I appreciate your insight as well. You having 10 years of life down there really helps me understand that it isint always the case that people form NY try it for a year and then bounxe
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