If you already live in Miami, then you know that New Yorkers are moving to Miami in droves. Even if you don’t live in Miami, you can certainly understand why more and more New Yorkers are trading the brutal winters of the northeast for balmy beach days. This massive north to south migration involves more than New Yorkers snatching up deals on condos in Sunny Isles, North Beach, and South Beach. Now, New York-based firms are getting in on the Miami Beach real estate action too. Imperium Capital and Centurion Realty recently acquired property on Lincoln Road. Apparently, these New York-based real estate gurus are just getting started with their Miami investments.
The word in New York is that the managing partners of these firms could be the next wave of real estate magnates. Imperium Capital and Centurion Realty have already acquired a number of prime properties in Manhattan, and their portfolio keeps on expanding. In addition to scooping up property in established neighborhoods in New York, these firms look to add value by making improvements. The fact that New York-based firms with that kind of market knowledge, industry power, and access to capital are investing in Miami Beach real estate indicates just how hot the Miami market is right now.