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Updated over 1 year ago on .

User Stats

3,623
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1,736
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Robert Ellis
  • Developer
  • Columbus, OH
1,736
Votes |
3,623
Posts

looking for condo development partners in Miami for Midrise developments 5-8 stories

Robert Ellis
  • Developer
  • Columbus, OH
Posted

Columbus Developer expanding to Miami because new construction sells $1000+ per square foot. We have been able to find great gaps in the market in our market in Columbus OH and looking to expand with partners in Miami, FL. We are focusing on the midrise market to start. I have 100+ articles about development in Miami I can share with anyone who wants to learn, but we are targeting T6 zoning areas. The following site is one we are going to do a Mock up design of a midrise condo building at approx 16 units because of parking issues. The majority of condos in Miami right now (more than 1/2) are being sold as investments to foreign nationals. I've done 10+ condo projects in Columbus OH but it is not a Condo market. If you are a capital partner who is serious about real estate returns, this market is probably the best in the country. We build extremely compact in Ohio around 650 sq ft 2 beds that sell at a massive premium to the market. I have hundreds of hours in underwriting supporting our theses and would love to connect with anyone in South Florida who has the capability to partner on these size projects. In 2 hours I can show you the execution. I'll have a deck finalized on this site within 10 days and I have 30 days on site trying to put a deal together down here. My info is in my signature please call or text to connect. We can build with greater than 50% equity in Miami. I build with profit for $160 / sq ft in Columbus OH. We wanted to enter a high barrier to enter market. I have 10 years of experience in real estate brokerage, condo conversions, renovations in all asset classes and construction in 20+ states, 500+ transactions of which at least 50% were condos and multifamily, developer and licensed general contractor in Columbus OH and I have partners all over the country I'm actively doing projects with. If this market interests you and you aren't in the market that is ok we have partners in Austin, San Francisco, New York, Los Angeles, etc. 

Here's a great article about the "mini mid rise" from a Toronto developer that talks about building density on a single site that talks about this strategy and how it's wide open, especially in a site like this. We can break down the land cost per unit to less than 10% of cost which I what we look for in our market in Columbus OH and what makes it so great. 

Article: 

https://nationalpost.com/life/homes/rise-of-the-mini-mid-ris...

Site we are doing a mock up of:

T6 zoning

https://www.redfin.com/FL/Miami/745-NW-62nd-St-33150/home/167997326

8 stories, 21 units, 41 bedrooms, 29,000 sq ft building, density of 150 dwelling units an acre permitted, footprint 4665 sq ft allowed

  • Robert Ellis