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What’s Next After Wynwood?

By Jim Fried

On this month’s show, we talked about urban development in Miami and what real estate investing trends across the country are going to look like. We even got a glimpse of the future when we met some terrific young people.

I had a great conversation with Chaim Cahane, an investor in the neighborhoods that are close to Miami’s urban core. He initially invested in Wynwood, but started buying in areas such as Little River and Little Havana as pricing increased in Wynwood. He works with capital partners from New York and provides them with local representation.

A banner for the Wynwood Business Association
A banner for the Wynwood Business Association

Chaim is redeveloping a number of buildings in Wynwood – including the Wynwood Arcade at 50 NW 24th St. – and seeing strong tenant demand. He is also the first developer in Wynwood to secure a Fortune 500 company: Revlon. He sees no letup in demand for infill locations in Miami. He and his investors are actively seeking more opportunities.

We also talked to Mark Cosenza, a senior vice president at Inland Real Estate Acquisitions. He buys properties all across the country and also helps Inland to secure financing. He sees a big push to acquire assets with solid, well-defined cash flow such as apartments, grocery-anchored retail centers and self-storage facilities. He also sees Miami as a market in which he would like to invest that may be a bit overheated. Pricing is high in South Florida, but he thinks he will eventually be able to buy here.

Mark thinks many other markets provide better investment opportunities. For example, Tampa, Orlando, Jacksonville and other “second tier” markets still offer value.

Inland also develops its own project and can act as a joint venture partner.

We also had one of my favorite guests of all time: Reinaldo Cardenas and his debate coach Davalyn Suarez. They were joined by Nalisa Saati, program director of the Miami-Dade Urban Debate League (MDUDL).

We discussed MDUDL and its impact on the young people in our community. Reinaldo is our future; he is smart, confident and well-spoken, and he made a great impression on the show. We discussed how the Urban Debate League brings young people from across South Florida together so that they can build confidence and learn the techniques that will help them communicate successfully in the future.

You can hear each of these interviews in their entirety at friedonbusiness.com. Look for our show Thursdays at 6 p.m. on 880 AM in Miami. 

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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.