High-profile developer and real estate mogul Don Peebles was interviewed yesterday by Fox News to get his take on the various real estate markets throughout the United States. He quickly named New York City as his favorite with Miami being a close second. In regards to Miami, Peebles distinguished between the Miami Beach and Downtown Miami sub-markets. He finds both to be very attractive but compared Miami Beach to Manhattan with having a huge barriers of entry and very little available land while he feels that Downtown Miami is well on its way to becoming a premier global city.
Don Peebles Discusses His Favorite Real Estate Markets in America
November 14, 2013 by Lucas Lechuga
His assessment of the sub-markets in Miami and Miami Beach is right on point. The recovery that both markets have seen over the past five years is simply astounding, and for good reason. Miami, for a number of reasons, is an alluring city which attracts buyers from all over the world. That has, and likely will continue to be, the driving force behind each sub-market’s rebound; a force which, in all likelihood, will push values well beyond those last seen at the peak of the market during the first quarter of 2007.