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Real Estate Market Panel Delves Into Recent Trends in South Florida

MG Developer, a real estate developer based in Coral Gables, recently hosted an industry panel featuring some of South Florida’s top luxury realtors to discuss experiences and strategies in South Florida’s ever-changing real estate market. The discussion was moderated by Chiquinquira Delgado, a Venezuelan actress and TV host. The event was held at MG Developer’s newest showroom for the Village at Coral Gables, a new 48-luxury residence enclave, which will comprise of townhomes, villas, lofts and flats once it’s completed in the fourth quarter of 2024.

The panel included Karen Elmir, CEO of The Elmir Group, Angel Nicolas, Founder and Principal Agent of The Nicolas Group at Compass and Oscar Teran, Principal of The Oscar Teran Group. Panelists shared their insights and experiences about how the real estate market has evolved within their agencies. They also explored strategic tactics they implemented to overcome some of the challenges from the pandemic, the rise in interest rates, the war in Ukraine, the current economy, and how it affected South Florida’s increased real estate demand. 

“This is a new Miami,” Elmir says. “There are major companies coming in from New York that are looking for homes for their employees that are driving demand and absorbing new construction. In the past two years alone, neighborhoods like the Miami Design District have been transformed by people that have literally come from all over the world.” 

As Miami continues to generate interest from out-of-state companies, including New York and California, the state’s lack of income tax and warmer climate has helped lure tech businesses to the area. Panelists also revealed some of the most attractive investments in Miami, including Airbnb, spec homes in good locations and affordable multifamily buildings. 

“People are not looking at South Florida to be in the party scene, they are coming to Miami to raise their families and they’re moving to Coral Gables, Coconut Grove, Pinecrest and South Miami,” Nicolas says.

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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.