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Global Investment Firm to Agrees to Lease Space at Eighteen Sunset Building in Miami Beach

Pretium, a specialized investment management firm, recently unveiled plans to open an office at Deco Capital Group’s Eighteen Sunset, a Class A office building being constructed at 1769 Purdy Ave. in Miami Beach. Pretium has leased 11,591 square feet on the fourth floor of the project, which, together with other completed leases, represents approximately 80% of all available office space at Eighteen Sunset. About 9,500 square feet of space in the building is still available.

“Miami Beach is excited to welcome Pretium to our community where our business assistance programs and incentives ease the ability of doing business, and our culture and lifestyle benefit business leaders, create jobs, and attract and retain talent,” Miami Beach Mayor Dan Gelber says.

With over 4,500 employees, Pretium has over $50 billion in assets under management across U.S. residential real estate, residential credit and corporate credit. Pretium’s Miami Beach office will span more than half of the fourth floor in the five-story building. The company will join a multibillion-dollar, publicly traded Toronto firm that signed a 20,000-square-foot lease earlier in 2022. Uchiko, a restaurant concept by the award-winning Hai Hospitality group, will occupy approximately 6,000 square feet of space on the ground floor. 

Stephen Rutchik, executive managing director of Colliers International Florida, and Neil King, vice chairman of CBRE New York, represented Deco Capital Group in the transaction, and Daniel Posy, executive managing director of JLL New York, represented Pretium. 

“Pretium is excited to be expanding its office presence to Miami, a region with a growing financial services community,” Laura Cappiello says, Pretium’s Chief Human Resources Officer. “Having an office in Miami will enable Pretium to attract and retain premium talent and broaden the pool of diverse candidates we seek to recruit.”

The City of Miami Beach has assisted many technology and financial services companies in expanding or relocating their operations after launching meaningful business incentive programs and concierge services in 2021. Pretium participated in the city’s Expedited Plan Review and Permitting Program, which offers an accelerated permitting review process of 10 business days. The city’s Job Creation Incentive Program provides an incentive of up to $60,000 per year for up to four years for businesses in targeted industries that create or relocate a minimum of 10 new, full-time jobs with average annual wages that meet or exceed 125% of Miami-Dade County or Florida average wages.

“Miami Beach has seen a significant increase in inbound investment, and the most fundamental change to the city’s economy has been the drive to develop Class A, best-in-class office space capable of accommodating the needs of preeminent global companies,” Bradley Colmer says, founder of Deco Capital Group. “Pretium operates from exemplary offices in international financial hubs and is proud to be one of the trailblazing companies relocating or expanding and establishing a more substantial presence in South Florida. Pretium is drawn to Eighteen Sunset for its quality design, prime waterfront location in the Sunset Harbour neighborhood and market-leading amenities and views.”

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.