Realtime multifamily insights and opportunities from one of the most active Land & Multifamily brokers in South Florida (+$3.3 billion closed & counting ! )
Miami Multifamily Monthly | Mid-Year Update
The first half of 2023 is in the books already. How did pricing and transaction volume compare to years prior? Let's dig in. **if you’d like this data broken out by Miami Dade, Broward, & Palm Beach County, please reach out via email for the excel** Most headlines will point out that transaction volume is down roughly 70%, year-over-year. However, the first half of 2023 saw almost exactly half the average annual transaction volume and number of properties sold from 2013-2019 (pre-pandemic). Said differently, we are actually on track to end the year with the same volume as the pre-pandemic averages. Not including 2021 & 2022, South Florida typically saw about 90 (+$5m) multifamily property sales a year, totaling roughly $3.5 billion in volume. As the uptick of new supply begins to deliver and loan maturities start coming due, my guess is we'll start seeing 4 to 5 billion dollars of sales volume as the new norm starting in 2024. Select Active Opportunities Newsworthy
I'll be sharing data on recent trades and where deals are pricing in the next issue. |
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Miami Multifamily Memo
by Omar Morales
Realtime multifamily insights and opportunities from one of the most active Land & Multifamily brokers in South Florida (+$3.3 billion closed & counting ! )
Miami Multifamily Memo Current trends and opportunities 2023 is behind us. How did pricing and transaction volume compare to years prior? Where will it go from here? Let's dig in. **if you’d like this data broken out by Miami Dade, Broward, & Palm Beach County, please reach out via email for the excel** Most headlines will point out that transaction volume is down roughly 60%, year-over-year. However, as predicted in my 2023 mid-year update, South Florida is back to a pre-pandemic average...
Miami Multifamily Memo the generational buying opportunities to come Before We Dive In... Job Opportunity: [reach out to add your job posting here - the last job posting here brought the Miami Real Estate Private Equity employer 12 job applicants] Alright, let's dive in: Generational Buying Opportunities Ahead Why? because: Rents are softening Expenses are increasing (insurance, payroll, etc.) Incoming Rental Supply is at all time highs Valuations went especially high during 2021-2022 Several...
Miami Multifamily Monthly Recent Wynwood trade & active opportunities Before We Dive In... Job Opportunity: OKO Group, the billionaire-backed development shop behind Una Residences, 830 Brickell, and the AMAN Miami Beach is looking to fill a Development / Acquisition role as either an Analyst or Associate Feel free to apply below, or reach out directly to Chris Yoder and let him know you came through here! email: CYoder@OKOGroup.com or: Online Job Application here OKO Group's "Una Residences"...