Ryan & Ana On MIA
Ryan and Ana cover all things Miami development and real estate, the good, the bad the drama.
Ryan & Ana On MIA
Unmasking Miami: Opera Tower, Icon Brickell, and renovation projects gone haywire
Want to uncover the gritty realities of Miami’s real estate scene? Brace yourself as we navigate through the fascinating tales of two noteworthy projects - the Opera Tower in Edgewater and the Icon Complex in Brickle. These architectural marvels have their share of interesting narratives, not to mention, a multitude of challenges that plagued their journey. From the Opera Tower's illegal short-term renting saga to the Icon Complex's legal battles and a three-year pool closure - we're pulling back the curtain on it all.
We also discuss the importance of due diligence when considering condo living in large projects. We'll shed light on the new housing laws in Florida, and their implications for residents. But don't worry, it's not all about the negatives! We're also celebrating the positive strides in the Miami housing market, including the impressive sales update - we're now on Spotify, Apple, and a host of other platforms!
We'll round off our discussion with an immersive tour of Midtown, a pedestrian-friendly space that once housed the Florida East Coast Railway train. We'll explore the master plan, the defining architecture, and the charming amenities that make Midtown a paradise for urban dwellers. Finally, we're super excited to discuss our 'bright line' trip idea, a fun way to commemorate the progress made in the region. So, why wait? Subscribe, download, and share our podcast with your like-minded pals - let's delve into this intriguing world together!
Hello everyone and welcome to episode six of Ryan and Anna on MIA. I feel like we did episode one like yesterday.
Speaker 2:I know it's amazing. Look how much has changed between site upgrades. So this week we don't have a visual upgrade because the set is already so fabulous. However, we have an amplification of our wonderful sales update.
Speaker 1:Yes, yes, we have. We're now officially on Spotify, on Apple and probably on some other aggregators as well.
Speaker 2:How fantastic.
Speaker 1:We're going to talk about some neighborhoods. We're going to talk about projects. We have a couple of new formats. We're going to talk about two projects in Miami that we think are interesting from both and bad perspectives.
Speaker 2:And entertaining.
Speaker 1:The entertaining because, like we always talk about, Miami is a dramatic place and that filters down to everything. I think every building has like its own project, because like its own personality I'm talking about ones that are pre-existing, so it's like you know they just they have their own personality.
Speaker 2:And they become their own little community, their own ecosystem that's seen by itself for good end bed.
Speaker 1:Exactly, and so a little preview. We're going to be talking about today. We're going to talk about Opera Tower in Edgewater, the icon complex, which is three towers in Brickle. And I love those because those two are just. They have some of the wildest stories and like just At scale. It's fantastic. So, before we get started, a random fun fact. I feel like Opera Tower is like one of those places that you have to do with, like our initiation to Miami. Like so many people I know who moved here, like moved to Opera Tower first.
Speaker 2:That's because they allowed that illegal short term renting.
Speaker 1:But also like cheaper. Cheaper, cheaper, short term, and it has like really good views and stuff, that's right? No, the location is actually very good, so people like go there for like six months and then run screening, right, I know this from experience because I did that.
Speaker 2:I didn't know that. So Opera Tower, everyone is on 17th and Biscayne, I believe.
Speaker 1:Yeah, that would be 17th Right. Yeah, it's actually like just north.
Speaker 2:So great location Perfect location.
Speaker 1:So you want to start out with us, since we're already on the track.
Speaker 2:Oh sure, let's go Okay.
Speaker 1:Okay, so we'll talk about Opera Tower first, and Opera Tower is built in 2008.
Speaker 2:2007,. I believe.
Speaker 1:Okay, like T.
Speaker 2:Barholo.
Speaker 1:Yes, who's a?
Speaker 2:fascinating character actually.
Speaker 1:Yeah, florida, east Coast Realty Florida.
Speaker 2:East Coast Realty. So he is an Auschwitz survivor. Okay, I believe he's 97, 96 right now, something like this, and he's still active. It's wild he's a force of nature. Correct, correct, yes, something like this. Correct the guy. The guy's overcome a lot, yeah, and he came to America. The story is that you know, he was in Auschwitz and he came to America with nothing, yeah, quite literally with nothing, and built an empire.
Speaker 1:He built this. This, actually the Omni Mall, was a joint between Florida East Coast Realty and what else. I didn't know that yeah, he was a, and the grand and the Marriott was all Florida East Coast Realty.
Speaker 2:How amazing is that? Yeah, a guy came with nothing and did all that. I love stories like that.
Speaker 1:I know it puts everything in perspective and I'm really so total, sudden, I'm hoping, because they're trying to do one Bayfront Plaza Mm-hmm, where the old Vitus or Vitas building is. I'm hoping they at least start it before he.
Speaker 2:Mm-hmm, he's doing. Good though it's, it's remarkable. That is the American dream. I love stories like that. Demand Survived. The Holocaust came here and became a transformational figure for a whole region with nothing starting with nothing. And that's one of the things people cry about advantages other people have, or oh, poor me, poor, this poor that. I always think of people like this because they didn't get to where they are by crying to anyone.
Speaker 1:So, talking about Opera Tower, opera Tower is interesting because it was built in the last boom cycle, mm-hmm, and it was one of those products that I for. What I've heard is that they started building it and everything started crashing down, so they just sort of finished it the way, any way that they could.
Speaker 2:Right, it was the end of the cycle. That's what happens, yeah.
Speaker 1:Yeah, so like I, for what I understand it was. It was projected as I'd be much nicer than it currently was, but they were like, oh shit, we're out of money. They just started like slapping it together.
Speaker 2:Finish it up, boys, close the wall. We missed some ducks over there, yeah.
Speaker 1:And you know they just you know whatever like, but anyways it is interesting because it is one of the only curvilinear towers in all of my Interesting. There has been another one until the new one they're building on the Money River, my River Tower.
Speaker 2:And what does curvilinear mean for our audience?
Speaker 1:It's like oh, oh okay, curved all the way around, which makes for some very interesting architecture, some designs and great views for everyone. Yes, obviously, do you have any stats you want to share with that opera tower? Before I go into some of the drama, no, just, just, just the rough.
Speaker 2:Just it's a, you know, 635 units, so it's a large building, okay, and I think that actually factors into the drama, because whenever you have lots and lots of units, yeah, it becomes a self-feeding mechanism. I think that it could employ, especially in their case, because they had the rampant abuse of short-term renting at scale, yeah.
Speaker 1:Yeah, so I know this from experience. I lived at opera tower for six months. I had an absolutely insane roommate. That's the. That's the story for another podcast. Yeah, Anyways, I lived there for six months. That was the first place I moved. I just literally got off the airplane and after a hotel, I moved into opera tower. Opera tower maybe I'm just going to tell you about the location. It's Cross Street from Margaret Pace Park, Beautiful park, probably the best park in Miami. I think I think so too. Yes, Because like it had, like it had like outdoor stuff, it has like tennis court. It's an absolutely beautiful park.
Speaker 2:It has a doggy area.
Speaker 1:It's large, it's quiet. Formally it's a good spot and opera tower is the last tower on that row, so it has after this mall structure. It has unobstructed views south and sort of east, so it's ridiculous. But the main problem at opera tower is that the entire building, or almost, they have a hotel life so they can do short-term rentals and the developers actually kept a lot of units. So you have a combination of owners and whoever 40s coast realties hold a company is owning a bunch of the units. That was because they couldn't sell them during the recession.
Speaker 1:So they just sort of kept them and put them into short-term housing.
Speaker 2:They created another model.
Speaker 1:Yeah, and, but they have a hotel license so they can be rented out nightly. But they're condos mixed in with regular people who own condos, Right.
Speaker 2:And then to differentiate this from what we would refer to as a mixed-use project. Now, there is no separate entrance, no separate areas, it's all quite literally mixed in.
Speaker 1:Yes, and it's. I'm pretty sure that this has been a dumpster fire since it started, at least for the new stories that I could dig up. Like it's always disastrous shootings and fires, and there was a shooting point that I think.
Speaker 2:I think 2013, there was also it wasn't a shooting, but they found it was a crime scene and they found like a credit card machine, like a credit card 4D machine in a unit. It was some crazy Miami Vice story that happened there.
Speaker 1:Yeah, and I also thought story like a guy got like stabbed like up front and just like like crawled into the lobby and just like laid the wire.
Speaker 2:I mean 635 units plus a hotel, but it's not really equipped to be a hotel.
Speaker 1:So Well, you have to also put in context where it is, because on the on that on 17, you have opera on the north side and then sell across street. From here you have the Grandia of the Marriott Right. Those three things are kind of like. I call them the Permia Triangle of the Hampe a real real estate at least. Yeah, because they attract a clientele that would normally be on South Beach.
Speaker 2:Excellent point.
Speaker 1:Like those. Those three places are like the South Beach, south Beach prox.
Speaker 2:And he's not complimenting South Beach with this.
Speaker 1:David, it's just so. Those places, those three places, are much cheaper on a nightly average than South Sure, but they're right there. You have the Venetian Causeway, the Causeway, so you can get there quickly. So you end up with a section that is like a mini South Beach as far as clientele gets.
Speaker 2:Right, it's the place to go party for, not Party for cheap.
Speaker 1:An exorbitant price. Yeah, exactly, but it's still like in a great neighborhood, no, the neighborhood's fantastic Prime.
Speaker 2:It's pretty.
Speaker 1:Yeah.
Speaker 2:Within proximity of everything so.
Speaker 1:but then the problem is you have normal, normal people living in these condos, families working, and you have like party central, which would be the next part over.
Speaker 2:People don't really know this when they purchase in that building.
Speaker 1:I think they do now. I think they didn't before, or maybe it was like away.
Speaker 2:No way, it's hard to hide.
Speaker 1:I don't know Like, but I lived there and I would walk in. The elevator broke in bottles.
Speaker 2:Yeah, yeah, it's a party scene.
Speaker 1:Yeah, and then there'd be fires. It's just really kind of disastrous. It's really sad because the building itself, the location, is perfect. I would probably live there if it wasn't what's an upper tower? Yeah, exactly.
Speaker 1:Like it's a good location. The units are a little strange because of it being curved, linear Mm-hmm, it was Miami ones that the if it has two bedrooms, the second bedroom is like a glass, like a glass cube. It's not actual door, mm-hmm, kind of weird, but I mean it's. And definitely a lot of the units there have not been redone. They're still 2008 vintage, sure, well, not even once. But anyways, yeah, it's kind of sad because it's a good location.
Speaker 2:It's just so well you know everyone there is need for an inexpensive, easily accessible, get a foot in the door place for the city of Miami, so it can serve that purpose. There's nothing wrong with that per se.
Speaker 1:Yeah, but the problem is like just terrible place to live. I understand.
Speaker 2:I understand, I understand.
Speaker 1:People come to me, because all people come to me who are moving to Miami Like hey, I'm looking for them or quit, and the first place they would be was Opera Tower and I'm like no don't do it. It's like it's so funny and I don't know. I know I have a lot of friends who live there too and they it might be a good place for an in-house drug dealer. Oh, for sure yeah.
Speaker 2:It just occurred to me 100%. Just cater to the building, don't leave.
Speaker 1:Don't have to deal with cops in the street and the problem. The other problem is that between the HOA and the developer, like they'd all be the same. So the developer had so many units they had like their own HOA, they were like exempt from the HOA part. They make it really messy, so like if you complain to the HOA they really can't do anything after the developer's expense.
Speaker 2:And they're all mixed in together. They're all mixed in together. What a mess.
Speaker 1:It is and it has been. The building itself has not been touched. As to, though, right.
Speaker 2:It basically is the same, so it started to show its.
Speaker 1:It started to show its it's like a prime location. Train wreck it is. I'm like I wish they would. If I would develop a lot of money, I would figure I would buy it out and just gut it, leave the shell and read to it.
Speaker 2:Yeah, make it fabulous. It could be, it could be fabulous.
Speaker 1:It really could. It has, for now at least, permanently obstructed views in almost every inch.
Speaker 2:Alas Icon. So Icon was built in 2008.
Speaker 1:So similar Icon Brickle. Icon Brickle, I'm sorry, I have to be clear.
Speaker 2:Yeah, it's. Those are three towers in Brickle. Two residential and one is currently the W Hotel. It used to be a different hotel before. It was the W, it was the oh my goodness, I'm blanking it was W when I got here it went.
Speaker 1:It was something else at one point.
Speaker 2:They was just called like Mm had a name. It's okay, but yeah the hotel portion had changed, had changed hands, and it's with a V. It doesn't matter. Anyway, someone was built Vice Roy, yes, the Vice Roy, correct, correct. Yeah, it's the V, yeah, correct. So it was built 2008 by Ryan's favorite company, related group, group Group, not company. And yeah, so it's another. Another huge complex. I believe it's over 1700 units total, and so it's basically a city onto itself.
Speaker 1:And once again in a prime location. Yeah, super prime, location, super prime. And there's a couple of fun facts about that. What is that? To the north of it is the Miami circle. So that's where the, where they think, they think we still had the key stuff and they had like their trading posts and they would trade places far away to Cuba and like Puerto Rico. Those are the indigenous people that used to live here. Yes, and then they only discovered it because, in the 60s, they tore down a building that was there.
Speaker 2:They did it, they found like this circle, with like hold.
Speaker 1:It's got permanently preserved and now icon has national heritage Gotcha, gotcha, gotcha. Yeah, so they're. They're lucky that way.
Speaker 2:But yeah, they've been besieged by all sorts of dramas, of lawsuits, class act they did a class action suit actually. Yeah, yeah, they did. They did no pool for three years.
Speaker 1:Yeah, and once again. So we definitely have some themes here. We have prime locations, projects.
Speaker 2:And buildings completed at the cycle.
Speaker 1:And the cycle. Yeah, the reception Correct the lady that actually lost two of the towers in a in a lenders lawsuit during the recession. They, they, if they come here, they, they built it and I guess it wasn't selling. And they, they came to America to finish Right, and we're obviously related to how anything do with it after it sells but they, they lost both tower where they were. Oh, interesting. The hotel. One was separate or like that's you know the hotel, but they did lose the other two towers in like a lenders lawsuit.
Speaker 2:Oh, interesting yeah.
Speaker 1:And it's also I come to one of those things where I I've been there. The amenities are gorgeous. Yes, and they're gorgeous using some of those units and like the, the spa and the, it's just, it's stunning, but but related of course, it's just not built well. I know Not not they're going to fall down, but just not built well.
Speaker 2:Correct. It's like shortcuts all over the place, and then those end up being longer term problems.
Speaker 1:And the longer term problem is the pool was closed years and it hasn't very long.
Speaker 2:I think it was one of the longest pools, very huge pool. There's no pool for three years.
Speaker 1:Yeah, there was all kinds of like lawsuits in like every direction.
Speaker 2:Yeah, there's something about combining master association with other association. Who's responsible for what between the hotel part, the regular part?
Speaker 1:and the architect was being sued and related with the executive construct. There was like 25 lawsuits going in different directions. What a mess. And then the pool was closed for three years. And then the other part about that is they all had special assessment yes, on every unit, and then it couldn't use the pool for three years. Yep, yeah, like $25,000 assessment and we couldn't use the pool for like.
Speaker 2:If you think about it, these things always kind of blow my mind, because three years is a large percentage of the time that any given person will own a unit in a building.
Speaker 1:Yeah.
Speaker 2:Like, let's say, the owner for nine years. Sure, you're talking. A third of the time. You have no pool. That's a lot.
Speaker 1:And big even more petty. The main pool on the pool deck was closed, but the one up on top of the hotel one. Oh, that's right, that was not, but they wouldn't let the residents use that, that's fantastic, that's petty. That's going to fuel some lawsuits, I guess you might have to the manager being like no.
Speaker 2:They probably had some like, some like, like, like a secret service, like you had to tip the guy something or who the hell knows what was going on, like a back door entry to the only pool in the complex.
Speaker 1:But I mean like this you guys, if you're not from Miami or not living here, a building without a pool in Miami, that's any type large non-starter.
Speaker 2:It's a non-starter. Everyone has pools here. It's not a fancy thing. No.
Speaker 1:It's not like New York where, like a pool, a building that would not have pool, you have to have a pool.
Speaker 2:You have to. Even not even a not so nice building has to have a pool. It's like a crappy building to have pools. It's like a fits a thing here.
Speaker 1:Yeah, so and this, the icon is not built. No, no, no. So it's like someone's going to pay either the rent or to buy a unit there. They're going to expect a pool, and it was not Absolutely, for three years Wow. So it's interesting because take, if you listen to this, look up, just look up icon related in news historically You'll see endless stories.
Speaker 2:So it doesn't have a pool now. It has a pool now.
Speaker 1:Yeah, it has a pool now.
Speaker 2:It has a pool. Now it's one of those things when people look up where they're going to move or buy in the region yes, it's one of those things that people ask me. They'll say, oh, they're looking at this kind of building. Are there any? If you look at the minutes from the association which you're entitled to, they'll say oh, are there any assessments on the books? And the honest answer is virtually every building is at some point talking about projects and assessments. Yes, it's a given If there isn't one. Now, if you look at the minutes, they're talking about doing work and having one.
Speaker 1:I beg people, at a fair minimum, do a new search for a building that you're looking at, just that's the minimum.
Speaker 2:Oh, fair minimum. Just put in news lawsuit something You're going to find it, You're going to find it, You're going to find it.
Speaker 1:If you want to get more details, you can look up the minutes. You can do all the stuff Correct, but like just the bare minimum. You can even start too deep. Just go look up icon, brickel or opera tower or downtown fit whatever.
Speaker 2:Yes, and you'll see. The most egregious things On this topic, though, is that all buildings, in their minutes, are going to have. They're always factions within buildings that want to do work and fix stuff and levy assessments, always, always, always. So anytime you look at the minutes from any association, pretty much you're going to find talk of assessments and work, and this is one of those things that I find a little bit interesting, because I've been in South Florida now for 11 years and between buildings I lived in buildings, friends I've lived in being in the industry, whatever it is it seems like large scale projects that either close off.
Speaker 2:Lobbies, pools, amenities, big things are very commonplace. Buildings have them every few years, it seems, and this is not the case in New York. I don't understand why buildings here have to be redone all the time, and it's really crazy because you're not going to live for 20 years Most people don't so two, three, four years of having no lobby, no pool that could be half the time that you own this property. So, like, what are you doing? I don't understand. What are you doing? I mean, I think we do lobbies every 10, 12 years. Like, I don't understand this.
Speaker 1:I think I mean I just going to throw some shade up Miami. I think it's also because we don't it's bizarre, we don't build for duration here In fact I'm not talking about the structure. I'm talking about the finish, the aesthetic. The aesthetic of it, yes, and they're built.
Speaker 2:That stuff is pretty built 100%, because it's really mind blowing. And I've lived in lobbies that get redone every 12 years. 10 years goes by and they're like oh, the lobby's old. Like what are you talking about? This doesn't happen in other places that you but you can see it looks old. And it does, because the material's crappy Correct Exactly.
Speaker 2:Materials are crappy Like thin tiles that crack all those things and it's just like a building is 20 years old. Actually, if you chart values of buildings over time, which I do, you'll notice that as the building gets to be 20 years, it starts it's upswing because everything follows the cycle. Right, Everything pretty much follows the curve of the market, but when a building gets to 20 years old, it actually follows the upside. Far less it gets muted because it's considered old.
Speaker 1:Yeah, I mean I've been in some buildings in Miami that are old, older, let's say 25, 30 years in Miami-Sanford, and they look nicer than some of the buildings that were completed in 2020.
Speaker 2:Yes, yes, exactly right, exactly right, correct.
Speaker 1:Like some of that cocaine era.
Speaker 2:Yeah, it was just shiny and fashionable. I guess yeah, and then you go to the, but it doesn't age.
Speaker 1:It doesn't age and they're crumbling.
Speaker 2:It's really amazing. And then the perception that a 20-year-old building is old is also fascinating, because that's not the case in New York. And then, before I lived here, actually I was in Switzerland for four years and the Swiss, I lived in a building that was 100 and, I think, 25 or 50 years old, and the Swiss call it a new construction, 20 years old. Yeah it's considered a new building. Yeah, because the old, the old stuff, the old buildings are 4, 500 years old.
Speaker 1:Wow.
Speaker 2:Yeah, and then they've redone them for plumbing, electric. I mean they're super wired, it's high tech, yeah, but it's all functional, nothing's falling, it's fine. And then also like in New York, I mean, I don't know, maybe it's changed. I've lived in New York in 14 years but to have lobbies redone every 10 years and this takes three, four years is so crazy to me, because it's a whole percentage of the time you own.
Speaker 1:And then also, because it is my, you have to add six months to a year.
Speaker 2:Exactly so. I'm going to say two years, it's going to be four.
Speaker 1:Exactly, exactly. So I always tell I love this city, but I've learned some things about it that are helpful, and that's oneif your condo building tells you your pool's going to be out of question for two years, add one to two years Easily.
Speaker 2:Easily Correct. Actually, where I live, we have no pool for two years. Yeah, yes, on this topic. I moved into my third year in the building. I moved in the first month I was there, we had the pool, and then never again.
Speaker 1:And what are they doing? Like replacing it?
Speaker 2:Right. So part of the issue was that they were doing facade restoration around the building and they weren't able to work at the pool deck and then something else. Honestly, I don't know, and I live across the stream from where Five Park is getting built and I joke with Russell Galbett that his pool's going to be built before mine is fixed and he's like, yeah, probably you're right.
Speaker 1:You just asked for a pool pass.
Speaker 2:I need a pool pass. I'm going to ask him if he's out there listening. I'm getting a pool pass, but for real. It's like a joke. But not a ha-ha joke, it's actually real. Five Park is going to get a pool done. They already topped off. They've already done it. In a year, four of my buildings get to a pool again. That's crazy.
Speaker 1:I also got a friend who lived at 900. And their balcony was locked for a year.
Speaker 2:Yes, that happens too. You're incarcerated.
Speaker 1:Yeah, and I was like I would not that. No, if that happened to me and I didn't have that in my lease, I'd be breaking that leak.
Speaker 2:Oh yeah, I can't. I'm claustrophobic, it causes me stress. I can't, I'm out.
Speaker 1:There's no way I would, or they're going to give me a thousand dollars a month off 100%. But the interesting thing is, all of these things you can find out about Correct, mostly Correct, mostly things you can find out about. And if you are a shopper, a renter, whatever, do your research.
Speaker 2:And accept the inevitable. Also, I'm going to share a quote. You live in a big project like a few hundred units and more. The people who tend to be on condo boards are the ones who have time and who like to do stuff.
Speaker 1:Yes.
Speaker 2:And so they're often pushing for things Mega-carons, oh my God, they did nothing else to do. Who else would send these meetings and talk about what shade of blue they're going to use it in In a carpet? They're getting robbed by. They're like, hey, it's like, kill me, I'd rather go to the dentist. I mean, I don't know, but these are the people who do that, and so it's inevitable they're going to buy in a condo project, they're going to be mega-carons on the board, and so work is in your future. They will always be doing something. So, if anything, I would see if there's any major work coming or, better yet, did they just complete major work? Was the lobby just done two years ago? Fantastic, you're good for 10 years probably.
Speaker 1:Well, florida isn't exactly known for it. Well, it's actually known for its dysfunction. But we do have a couple of new laws that are by surf side, unfortunately that are going to give a lot more exposure and transparency.
Speaker 2:Correct, correct, and they have to have reserves now in associations and all these things.
Speaker 1:So having reserves is great, but it will add much more in-depth availability for the condo minutes, the condo association doc. You can ask for those before, but they were like fine. Now they have to give it and provide them to prospective owners and providers.
Speaker 2:Whatever, it is Correct.
Speaker 1:Yes as they should. So there are some good things. They are changing, but you do as much. I love living in a higher right than living in condos, but there's always trade-offs. I accept it, you have to accept it.
Speaker 2:You have to accept it and don't involve. I don't involve myself in any building politics. This is not how I want to spend my time Do you own or rent? No, I rent, but even if I own that, I would not, and so how I approach actually condos. There's an inevitability to assessments? Oh, absolutely, and you just have to accept it and that's it, and you can't get stressed about it.
Speaker 1:So that is one of my other things about living in Miami that unless someday when I'm very, very well, which I'm going to be, but until that day I am quite happy to rent.
Speaker 2:Actually same, same, same, because it gives you flexibility, yeah, and then also between maintenance fees and taxes. It's really, the difference isn't huge.
Speaker 1:I mean, I know people can think landlords are greedy, and some of them can, but the HOA's insurance, the returns, are nothing.
Speaker 2:Yeah, it's nothing. You get returns on cheap residential housing Section 8, cheap stuff, that's regenerate returns in residential housing, anything that's considered a little bit upmarket. There is no return to be had, so they're getting very, very little upside to it and for holding the property, and then they're responsible for assessments and all those things, and so I agree with Ryan, for me it's actually, I consider, throw away money.
Speaker 1:I do too, and people are my mom and everyone's like bye, and I'm like no, I don't want. Yeah, and I want to deal with that drama of getting a $25,000 assessment randomly or it's just. You know, I like rental because at the new building concept they like I can go over there, yeah.
Speaker 2:They close your balcony for two years. You can move. You don't have to sell it while the balcony is closed. Like, how about that? Like, oh, buy this great unit, amazing view. You're in construction jail for two years.
Speaker 1:And I would also say, on top of all of this, don't take me and on as advice, I'll take your realtor's advice Do your research on anything, whatever building it is Like, most realtors out there are going to try and sell you something. That's what they're trying to do. It's a job so, and that, even if you have a great realtor, do your own research 100%.
Speaker 2:And just be real about works for your lifestyle and for yourself and your expectations, all those things and then make an informed decision and accept certain things as realities, factor them into your equation.
Speaker 1:And you know also, even if you don't have a realtor yet, ask people like me on or other friends in Miami who have lived in a lot of buildings. We have some information that may help. I'll tell you the truth. You got to be honest, exactly right, exactly right. Like when people ask you about where I live I live in downtown Fifth I'm very clear. I say I love my apartment, it's fine, but the amenities, but that's not important to who cares, that's. But I know that. And so it's like you know I don't know about that, like, should I move there? I'm like well, you want a big apartment but not great amenities.
Speaker 2:If you never use the amenities in your building, that's fine, absolutely.
Speaker 1:You're going to be perfectly happy with this apartment. Yeah, I've been thinking about this. I'm actually moving. I looked at Lescliffe's at Canvas, okay.
Speaker 2:Canvas is nice.
Speaker 1:It's cute.
Speaker 2:The hallways have a nice art and everything and they have a climbing wall and a gym.
Speaker 1:And I was walking in the amenities, I was just like yeah, it's super nice.
Speaker 2:I've ordered it a bunch of times.
Speaker 1:Preconstruction. I've never walked in the amenities. It's super nice. They have like three pools, like a rooftop pool. They have a small one on them.
Speaker 2:I was like I want this, I'm visiting Ryan when he was working. I feel like a minute party, let's go.
Speaker 1:But yeah, so you know, just the generalized theme of this first section is do your research, understand the projects and dig a little deeper, because scratch beneath the surface.
Speaker 2:Yeah, 100%, 100%. None of it's perfect, but you want to avoid the big calamities. That's what you want to do.
Speaker 1:Yeah, and both Icon and Opera Tower are calamities. I wouldn't live in either, to be honest.
Speaker 2:No, I wouldn't no.
Speaker 1:Another fun fact about Icon is that that's where most escorts oh.
Speaker 2:I know that I know, live in Miami, I know, I know, and you can only this is Miami Secret.
Speaker 1:If you want to go, if you're looking at buildings, go on Instagram and click on the building's location yes, and look at the photos that are posted.
Speaker 2:See the one pops up from the gym, from everything. Yes, yeah, no.
Speaker 1:You will know, because those only fantasy will tag their building, I guess. Oh, 100%, so like they're trying to get business Exactly, but it gives you a really good insight into the vibe. The vibe.
Speaker 2:The culture of the vibe.
Speaker 1:Also not only looking at news. But if you look up building like Icon or Opera, whatever on Instagram, you'll see the news stories current owners complaining about whatever Correct. So if you dig deeper than the news, look on social media. Talk. People live there. I wish more people that I knew did that because I had friends who did Opera Tower and then I hope I wish you would listen.
Speaker 2:Eh, the failure cells of the internet. Everyone Exactly it's no longer can be kept secret. Yeah, but it's a great idea for the Instagram, because you will see what people are typing from common, from the amenities areas and then again there's also buildings that are pretty much good, Like solid.
Speaker 1:Yes, there's a lot of them.
Speaker 2:No, we've seen these because they're crazy. Everyone, not because they're typical. They'll make good soundbites. They'll make good soundbites.
Speaker 1:But there are buildings right there, just solid. I won't say boring, but Yep yep, no, no, like 100%.
Speaker 2:Now the positive topic of Miami Real Estate. There was something that came out in Bloomberg, I believe, this past week that Florida now boasts the second most valuable real estate in the nation, overtaking New York State. We are now just behind California and this to me is a continuation of that shift in economic focus, or the economic center of gravity shift that Bloomberg talked about. I think there's just another data point quantifying the ongoing reality of this shift. That article about the shift was about a month ago and it said that for the first time now since this has been measured, the seven fastest growing southern states account for more of national GDP than the Boston Sorry, dc, new York, boston quarter. And now we've overtaken New York State for having the most valuable real estate in the country, just behind the state of California, and I think that's pretty awesome.
Speaker 1:I think that's interesting too, because, regardless of whatever calamities and disasters are happening in Florida, people are still coming here, and they're still. We keep getting data like this.
Speaker 2:And then on the city level, the same article in Bloomberg tracked metros that have housing stock in excess of $1 trillion in valuation, and the order is New York, la, san Francisco, boston, miami, so we're number five. However, we had the biggest year-over-year increase of 8.6%, and so we're gaining very rapidly in Boston, and then San Francisco, which is number two, is also not much more than us. They dropped 8.8%, while we went up 8.6%. So we're climbing these ranks and I predict that we'll be right up there. Right behind New York California, it's New York LA. I think we'll be right there soon.
Speaker 1:Yeah, that's great. I think it's wonderful and I think it really goes to that. Well, I think people always say that they love to hate Florida yeah, they do, and Miami too, and that's Listen. I used to work at Microsoft back in the day, and Microsoft is one of those companies people don't Correct, press doesn't like it especially Correct and they like to hate on it.
Speaker 2:They like to hate on it.
Speaker 1:Microsoft could announce that they.
Speaker 2:Your answer and they'd be like that bastard's making money. That's what they would say.
Speaker 1:And so and then, on, the same way, like Florida and Miami people, they look for ways for the negativity and to poke it 100%.
Speaker 2:I have people who I don't even really speak to. I'll post and share data points, not my opinion, saying Miami is so great, but these types of stories from news outlets that are quantifiable data, and I'll post them and they'll write me like paragraphs saying enough with this Miami stuff. It's all lies, this, this that I'm like what are you talking about? Why would you even take time out of your day to send me this garbage? First of all, like I post it. If you don't like what I'm posting, stop following me. And then also, what they're saying is a pinion. They have no data points to counter the ones I'm posting. The ones I'm posting. Just make them mad.
Speaker 1:It's amazing. But the other the. The funny thing about that is that they'll be mad. Then they'll be here in January.
Speaker 2:Exactly, grudgingly, grudgingly drinking their cocktail. Exactly Going huh. Let's see what life is like down here.
Speaker 1:I think that's it. It's not that they hate us. They hate us, which might be true, but it's also like we have great weather, we have a fun place to live, and I think people begrudge that.
Speaker 2:They absolutely begrudge it and I think that, especially for the North Easterners who begrudge it, because they're the ones who, for my small sample size people who write annoying, baseless comments to me, it's North Easterners.
Speaker 1:Yeah, a lot of New Yorkers, which is where I'm, from Frozen to cold in January or whatever Correct. Correct and they're mad.
Speaker 2:I think it's also. No, I think it's that and I think it's also political, because they, they, they don't like that we were more open than them during COVID and that we didn't die no, I'm serious, it's like what? And then they don't like the fact that we're they don't identify and I'm apolitical, so it's like that but they don't identify with the politics of the leadership of the state.
Speaker 1:Yeah.
Speaker 2:And then they're like how dare these people go to the state run by these evil people and enjoy themselves and have a good life?
Speaker 1:I think I think that's it. I think people think that I mean. Listen, florida has a political issue. Every state does and and it it has for a long time. It's always been. It's always been a disaster, but the citizens have mostly learned to live with that disaster, correct, and to live the best way they can, yep, and to enjoy the things that the state offers. We know the disaster is there and at least I try it, do what I can local, correct, but I don't like focus on it, like people more people focus on Florida's problems that are from somewhere else than they're from here. Yes, I'm like why do you care?
Speaker 2:And these state people in New York focus on your own problems, or tons of problems over there. Like what are you even talking about? You think New York is perfect. Like I'm from there, it's not, come on.
Speaker 1:I think that's an example of a plank in the eye. Yes, no, that's a weird analogy, but like I don't. I don't understand that. Especially, it was especially during COVID, Like people were like, well, the guys are open and the others can die on the streets and I'm not really.
Speaker 2:I think it's a continuation of that. Like they, they, they find out the auto. America has such entrenched, weird identity politics right now that when when that, when people look at a place identified as being the opposite of their belief system, they automatically wanted to fail.
Speaker 1:Yes.
Speaker 2:I think that's part of it too.
Speaker 1:And they can forward. Fit in any box, correct? It does not. Especially in Miami it does not fit any box you put in. It's got like, buffed out of that box, correct. It's like a square, correct, checking around.
Speaker 2:And people aren't coming here to be mad. They're coming here to live life and be happy.
Speaker 1:Exactly.
Speaker 2:And whatever. They're begrudging this, these people who are intent upon looking at the negative yeah, and you know what Baters are fans too. I look at that all as a positive sign, but the whole focusing the negative thing kills me, because all you own in this life is your time and you want to spend it focusing on the negative. You can do it all day. It's not going to achieve anything.
Speaker 1:I saw a new story. I saw a new story today or yesterday and it was a headline from Bloomberg, I believe, and it said New construction in Austin crush rent prices. Is Miami next? And I was like I hope so A drop.
Speaker 2:Listen, I'm like surprise, a good thing. And, as we talked about, we own the highest percentages of units under construction based upon existing inventory, so we're getting more of it and that's a great thing. That's a super great thing. It's not a bad thing. Everyone. We had the largest median rent increase in the country, so we need more yes, my lot. So we need more supply. I don't think we're going to crumble. I think it's just going to keep pressure off and come down a bit, which is healthy.
Speaker 1:Now, you know, I looked at a canvas had like a 15% mark and it'd be on the market for like 33 days.
Speaker 2:Okay, fine, it's good. Great, that's fantastic. Nothing was up forever the same thing. Now, on the quarter wrapped up to the last two months, we actually saw. So we had a whole continuous streak of median pricing for single family and condo, just going straight up the last two months, the last month of Q3, september and then August. Before it actually had small but drops month over month in median pricing for single family and condos, and that's a great thing because it's not tanking, it's a small leveling off and that's a very, very good thing. Nothing can go up forever. At the same time, we've had some increases in inventory. This is all healthy and good.
Speaker 1:And I've seen stories around country just from other places that people are complaining about we built like you can never build too much.
Speaker 2:America has a housing shortage actually.
Speaker 1:We could build from now in the next 15 years continuously and it would not be in. I agree 100%. It might not be enough for investors to make absurd amounts of money, but it will never be enough. 100% I agree. And listen, I am pro construction, I hope investors make their money and all of that. But, like the last three or four years are such an anomaly that you cannot hope to continue that. Ace of. I'm trying to say Correct, 100%, absolutely.
Speaker 2:Realities have shifted and now we need to acclimat and build for the new ones, where people are.
Speaker 1:Yes.
Speaker 2:And there's nothing wrong with that. It's a great thing.
Speaker 1:Yeah. So I am happy we're building. I'm going to be a beneficiary of the fact that my friends are plateaued and starting to coast down. I'm a benefactor of that, but I'm also I'm super happy that we're still building things I want investors to make they can do, to build things. That it's all.
Speaker 2:It's all about that economic shift in focus away from the Northeast. We have to accommodate it and we need to have housing, and I'll keep the machine going That'll keep the innovation flowing to Miami. The availability of nice, not crazy expensive housing. It's essential. Now the topic of crazy housing, expensive housing one stat that I've been following is a sales volume on a high per square foot basis for single family homes. Okay, because I find it to be interesting anomaly that in a down market, this is the segment that's not coming down. And this, to me, is part of the theme I often talk about, which is the polarization of the country, of wealth gap and belief systems. It's like in a downward economy, rolls Royce has a record year, that type of thing.
Speaker 1:Yeah, right.
Speaker 2:Yeah, okay. So this that's quarter which had an overall slowdown year over year of 11% for sales volume for single family homes. Okay, and from free COVID, we're actually below pre COVID levels of 2019, we're down 28%. Okay, and that's largely due. So when the press puts these headlines of loss of transaction volume, this is again largely due to the disappearance of lower priced inventory because of financing and lack of availability of people. People can't afford to move, so there's very little inventory has dropped and thus volume has dropped. It's not an indicator of a lack of demand, it's just lack of supply in this case. Now, when we go to the high end this as quarter sales of single family homes, one to 2000 square foot we had we had 79. Last year there were 85, year before that 76 and the year before COVID there were 15. Wow, so we're up over 400%, 477%, it's. It's, it's leaning to us, you know.
Speaker 1:I'm not particularly smart about finances and politics and stuff, but I saw the jobs report came out today or yesterday and it was basically like full employment. And then we're talking about processions and I'm like I don't, I don't understand, I don't know why it is, and we're having different realities around the country. Yeah.
Speaker 2:And that's also why and I believe that phenomena is going to continue, because it is the phase of the country that we're in divergent belief systems, wealth gap, all that stuff is just going to keep happening and different parts of the country are going to experience different realities.
Speaker 1:Maybe it's just because, like we're far, they gave to a point where they just started to come to it. Yep, and I think all of this even predates COVID 100%.
Speaker 2:Covid accelerated. It was all in play before COVID, yeah.
Speaker 1:And COVID just sort of reset the things, but didn't really didn't change anything, just sped everything up.
Speaker 2:Yes, yes, and it broke what? Also? What COVID did? It broke habits. That's what they have a saying. That's super important, because people are creatures of habits. They will keep doing something the way they've been doing it, not because they can't do it a new and better way, just because they that's how they've been doing it. And so COVID broke habits. People couldn't go to school like they did, they couldn't go to work like they did, and a certain percentage redesigned how they do these things. Yes, like home schooling went up, for instance, remote schooling went up. A lot of kids never went back to school physical school and a lot of people adopted hybrid work patterns and moved physically accordingly. They don't have to live where they were, and that's part of that massive shift that we're benefiting from here.
Speaker 1:I love it. I love the details we're able to think about that it corroborates the story.
Speaker 2:It's not just opinion, boys and girls.
Speaker 1:And that's one reason I want to start this podcast, because for me in real estate the news can be very boring press up there.
Speaker 2:Well, because they tend to highlight on the whole market right, Just the headline thing which loses the nuance and loses the story. So you say, oh, transaction volume dropped 11% year over year down, whatever before COVID? Oh wow, demand is out. No, it's not. There are different segments of the market and you lose the story. So you have to dig in and that's where you start to see the divergence and what's really happening, with wealth and talent moving across the country. So I love it.
Speaker 1:I like that I love for this podcast that we just we dig into stories that we like and I think that's exciting, that's right. Because most real estate publication they go for the data. This person leased this thing. This person announced this project. There's not like a lot of like.
Speaker 2:And if you're not in the industry, you won't know who these people are. Anyway, yeah.
Speaker 1:Like. And also, what is that? Something comment in this podcast that, like they said, that we have a very brain left brain like dynamic.
Speaker 2:That's true, yeah.
Speaker 1:Because all the day, day and when they stuff like Anna, you can, he's like go ahead, Talk all you want, talk all you want.
Speaker 2:I can't help myself. My brain is just like that's the way I understand things. Okay, like I, my brain automatically does that I have to define the space that I'm thinking about.
Speaker 1:Yeah.
Speaker 2:I, I look for the.
Speaker 1:I look for the stories and like the personality, yeah, like I want to know, like I know what happened, but I know, wants to know why, like what drama caused this death.
Speaker 2:And then we connected, because it's actually all tied in.
Speaker 1:Yeah, it is yeah, and also, we're also both sanitaria.
Speaker 2:That's right, we are actually. What's your birthday? December 5th. I know I'm the fourth, it's perfect for five.
Speaker 1:The reason we can use podcasts together and not like kill each other.
Speaker 2:I know it's fantastic oh news I like. I read that FIFA is moving their headquarters down here.
Speaker 1:Well, yeah, park bit the Coral Gate.
Speaker 2:That's exciting.
Speaker 1:Yes, Because you know, FIFA is not exactly known. They have their issues and the fact that they my aunt made to move here is entertaining. It's great. Didn't one of them get rated a couple of years ago here?
Speaker 2:I think so.
Speaker 1:Yes, of course they're coming here. It's fantastic.
Speaker 2:I met a boy in jujitsu the other day. I wanted to open that in the beach every every Friday night and Saturday morning. And then you new guy, very young, like a 22, 23 year old guy that has came to do jujitsu and I started talking to like a Tully's in New Yorker and is the whole thesis. He moved down here like two months ago. He works for investment banking, some financial sector job, and the boss moved the headquarters down here and they're all here now and he's like it's great, I couldn't wait to get out of New York. That's what he's telling me in jujitsu and I'm like, wow, it's the whole thesis.
Speaker 1:And you know that is funny because there has been some stories recently.
Speaker 1:I've been moving to New York I've just told a rapper and grasping for straws, yeah, that's for straws. But the funny. I meet people on a daily basis here at the hub office, logic, who just moved here from those places. Yep, the news is reporting like all those people packed up and leave and then no one else came, not true, that is the narrative Correct. But underneath that it's not true there are people who did go back. I have friends that moved back to those places. That did happen.
Speaker 1:Of course it's not yeah, there's no absolutism here. Yeah, yeah, I meet people almost every week Same, just moved here.
Speaker 2:I'm not striking, because I went to college in New York City and many of my friends were young, ambitious people like this 22 year old young man that I just met. And when I was that age out of college, it would have been quite literally unheard of for smart, ambitious Because you know this kid, he wants to make money I could tell, like he's like an ambitious, like go get her, you know what I mean. Yeah, and it would have been unheard of for him to move to Miami for that pursuit not that long ago. Yeah, just that alone, that whole thing. Because he didn't come here to party, he came here to work hard and make money. And that 10 years ago that would have been unheard of. That a young, ambitious guy in the finance industry comes to Miami to make money and that shift, that's like.
Speaker 1:And I've met multiple people like that.
Speaker 2:I think it's amazing.
Speaker 1:Yeah, and these are people that are established professionals. They give out of money, they want it, they want fear, they don't have to be here, they want fear.
Speaker 2:And this guy, 22,. I love that because it reminded me of the stat that we had that were the largest recipient of millennials 25 to 35 for high earners earning or 200 grand a year, and this guy's 22. He's even younger and he's all about like working, making money. He's ambitious guy, you could tell, and he's all excited to be here to do that. That never happened before in Miami's history. It's wonderful. And the whole office, his whole office, moved down here. I love it, it's fantastic. And it's just more going to follow because his friends at home are going to look at the pictures from here. They're going to be like oh wow, the weather's better, the girls are hotter. The 22 year old boys come on. They're going to be like the girls are hotter. They're like I'm there, bro, I'm there that pictures of his weekends with all the girls. Like are you kidding me?
Speaker 1:I might be a terrible person, but I do that to my family in the winter time. Oh yeah, oh, which is beautiful. I saw your pictures, but Coal, but it's like 20 negative there. I'll be like at the pool. I'll be like I'm like posting a photo of me like at the beach with a pool.
Speaker 2:I'll be like polar vortex in New York high from the beach everyone.
Speaker 1:My mom will find me like angry symbols, like exactly. Anytime, all right. So I don't. It's funny. A lot of the news places are actually on Vacation this month, this month, because there's a lot of holidays. There is yeah, there's a lot of high Jewish holidays.
Speaker 2:Oh correct, it was Jewish.
Speaker 1:New Year, yeah, yep, next, miami's been off for like.
Speaker 2:Oh, you're right.
Speaker 1:Yeah, you know it's funny, I, so this is totally the next money is like semi anonymous. I do know people who run are Jewish, because they're they always. They think Friday is off First of all. He's on to you guys and they take off like that, like that, all the high Jewish holidays.
Speaker 2:Wow, with narrow the penta.
Speaker 1:Actually I had a guy, a couple friends, who I thought maybe the writers. Oh, it's so fascinating. But I asked like they wouldn't admit it anyway if they were. I think it's so funny. This is my oldest I know that has like a page six. I like real. I know no one knows who writes the next manning, but they always have all the scoops. It's so interesting and they use a lot of my stuff. They love my photos and stuff, but like they get like Swiss from City Hall before like I love it.
Speaker 2:Yeah, no, they have great story, I know yeah.
Speaker 1:Chris Royce, and it's, you know, it's always presented very like.
Speaker 2:Very well very well concise. It's concise, it's not dramatic, it's like. I enjoy reading it.
Speaker 1:You get the information like this it's good, it's concise, always be out the real deal and, like all that, they do a great job. It's fascinating. We'll find out who you are eventually. Okay, so moving on. We're gonna talk this week for neighborhoods about Midtown. I want to go midtown because it's a little smaller neighborhood, before I jump into Brickle or Ed Brickle or windwood, I think I know. That's so Midtown's interesting neighbor. It was built on the site of do you know what? No, so it was originally a Florida East Coast Railway train.
Speaker 2:Oh, that's right. Yes, I've read this. Like for freight trains.
Speaker 1:Yeah, and I think close in the late 90s and it was just a fan for a long time and then someone came in and bought it up, kind of like how my world center was, they can, and then so they turned it. I like Midtown. I like. I think it's a really cool concept and it has a couple issues I'll talk about, but overall it's really well. Mm-hmm, and it's new. Yeah, it's new. I think that they said it was based on Somewhere in New York. I want to say Soho, maybe not they based on some neighborhood in New York. That's like what Midtown is like pedestrian and walkable and all the shops are there, one of the New York neighborhoods. They said they based it on that.
Speaker 2:No, no neighborhood is coming to mind that resembles Midtown, but I'll take the word for it.
Speaker 1:So Midtown is interesting because it's it's just west of edgewater Mm-hmm just east of windwood and just south of the Design district Mm-hmm. It's a little like little section there and it was. It was master plan, so you had a developer who came and bought it out and then sold out the parcels to, which is pretty cool, and there's a lot of really nice buildings in there and a lot of very convenient stores.
Speaker 2:Yes, yes and like a yoga berries boot camp.
Speaker 1:Yeah all sorts of starter joes just open. That's right. But it was built right around the recession time of the last recession when I'm not whatever recession we're going into now, I don't know but it was built right on that time and so it was kind of built really quickly from like 2006 to like 2010 and then nothing happened from 2010 until like now. But there are a lot of fun things happening. Currently it's going to have Miami's first standard residences. That's right right across from Trader Joe's there, and it's also that project is not going to have a parking garage, it's going to use the current one.
Speaker 1:That's very nice. It's going to be a very I understand the way they're pitching is. It's very much like people divide their second homes and then that one not, and then on the corner there on 36 and like on the it's like the, the northwestern edge. There there's like a big blank lot the conger tower there, one me town, very nice, and then eventually that whole big section in the middle where is grass. That most people don't know this, but that is actually called the entertainment block and that was supposed to be like a movie theater and a bowling alley and all that. It's still in progress, but we don't know when, but that that that that block is not a park, it is a it's. It's a future.
Speaker 1:I mean since because it's always kind of weird.
Speaker 1:It's like a giant, I wonder it's a square of grass right there, yeah, and like a very Prime area, correct? It's supposed to be like the entertainment part of it, because you'll notice it doesn't have a movie theater, doesn't have bowling or whatever. It's just sort of A lot of residential laptops, mm-hmm. What else is happening? There's a bunch of new multi families happening there, at least three or four of them, like all happening. So meantime is like filling in, kind of my world center, like they're building out projects as they get developed.
Speaker 2:I like the vibe in midtown whenever I go. I like it, it's pleasant.
Speaker 1:So I like me down too, but I'll say this they did a terrible job Designing for the volume of the future. Oh, like Midtown is one place that that's close, too far away for me. This is true Like I live on fifth street. There it's on, it starts on like right, but the only way to get there is by car or walking at way too far to walk and the streets in midtown are like already jammed with the people who are there and deliveries and whatever it. They didn't really bad job on the streets to the point.
Speaker 2:It's a good point, because more is coming and more is coming.
Speaker 1:So, yeah, it sort of sucked because I I think my prediction that they're gonna have to rip out All the street in the next 10 years and read Because there's only two entrances to midtown, there's 20 and 36. On the other side it has the fort east coast railway and then North Miami app, but like there's only two entrances for pedestrians and cars 36 and 29 it's like stuck inside those boxes. So I Like it thing is it's so convenient I thought eating the place it's so convenient, but it's annoying at the same time.
Speaker 2:I understand that makes sense.
Speaker 1:So but anyways, mid-mid-mid-mid test grade. A lot of friends there, and if you don't need to leave midtown, that's what I'm saying.
Speaker 2:Once you get there, it's nice. You walk around, it's very pleasant.
Speaker 1:Yeah, if you park your car, you have all the rest or anything you have it's. It's really great, mm-hmm. So that is that. Well, we have something outside there.
Speaker 2:My goodness, do I have to know about your new project?
Speaker 1:Yes, so mine. So we are knowingly both started new video products in this past week, which is pretty good our synchronicity.
Speaker 2:Here is December 4th, december 5th. There you go.
Speaker 1:So my new project is called next act and it helped professionals who are looking for jobs in between your jobs and it gives them exposure via like video interviews, figuring out, figuring out what they want to do next. So I've already agreed to come to my friends if you guys knew you or anybody else wants to be on it, you can be as well and I just interview people for like 15 minutes, mm-hmm, I find out where they've been, what they're doing, where they want to go.
Speaker 2:Oh, we kind of extract the story exactly sort of verbalize what they envision for their next step.
Speaker 1:Because a lot of. I have a lot of friends who are conflict but they don't know what they wanted. That's wonderful, and life is long. Yeah, so I'm probably them. Fine, they're next act.
Speaker 2:I love that and tell you about yours, Okay so my new platform is called ask on a show, com and so.
Speaker 1:I love it.
Speaker 2:So this is a continuation of what I do with the association of realtors. So I'm actually governor of the association of realtors and, as a you know off my website, analytics Miami, that's where I published long-term trend analysis and the reports themselves are like very dense data reports and I have found over the years that most realtors, most people, benefit from having them explain things, highlighted a relevant trends, pointed out all those things. And so when I speak at events Like, for example, I spoke at rock, the market at the hard rock hotel was like that was crazy. That was over 1500 people in the room about two, three weeks ago. And I spoke at the pheopsis World Congress at no boo before that and I kind of Give give people was mostly realtors in the room.
Speaker 2:This sort of distillation, synoptes of what's driving our market, because my goal is that they are able to explain to their clients what they're seeing and why. Because the why is important, not just the data point, and the data points in Isolation are meaningless. Everything is part of a cycle. So if you can identify what's driving the cycle and where we are within it, then you can project the future and the news will keep getting it wrong because sour graves because people are not good at recognizing we mentum, cycles or patterns, any of that, and it's important that everyone be able to own the Miami story. Yes, and so when I get this presentation, they said to me they said, oh, you should really do a monthly webinar to help out our members. And I said, you know what, let's do it.
Speaker 2:And so I kind of had this plan in my mind for a while, and so it's called ask on a show, comm, and every month there's a deep dive into what happened. This is a quarterly update this month. It's gonna come out next week and it's a 30 or 40 minute video of me talking about, like what I do in presentations, what's driving the market, highlighted things, things dropping for the news, because again, the news reports in the whole market. You can't do that. You have to see, you subdivide, to see where the action is. So there can download the PDF of the presentation, also a PDF updating macro points, quantifiable macro points. People can use this sort of arsenal to negate the Miami haters. And then I'm talking points and talking points. People always want talking points, okay, so, yeah, the first one is the next month ask on a show, comm. It's the secret weapon to owning the Miami story.
Speaker 1:Can't wait to see it.
Speaker 2:It'll be fun.
Speaker 1:Awesome. Well, we close out. I did hear an interesting bit of some tea Yesterday, barely related our favorite company has started drilling at the back of a carot site. Oh, before the vote on next vote, from the archaeologist in the city how'd they do that? So they are very sure the vote will go their way.
Speaker 2:Oh, and they're gonna continue until they're stopped. I understand because they can. So why? Because they can okay.
Speaker 1:That's thing. Oh, we'll cover later when we get on brickel. But the bonker at the saga put right like TV series. It's amazing, but it'll be interesting, so yeah, so that's a fun bit of news. Also, we need to do a bright line, I feel like. I think a fun thing that would be fun.
Speaker 2:I thought it would be fun. It's such a great thing for the region right now.
Speaker 1:Yeah, we do a bright line like we're landed.
Speaker 2:We'll do a bright line trip.
Speaker 1:Yes, yeah. That's right, exactly, I love it anyway, guys, thank you so much for watching this thing, and we are now on Apple podcasts and Spotify and bus brought all these places. So please subscribe and download and tell all your friends, because we're you know we're having fun over here and send over any thoughts, ideas, questions.
Speaker 2:Send them over tea, that's right, we'll spill it for you.
Speaker 1:If you don't want to say it, we will All right, guys. Thank you so much for watching, and and then that's okay, okay.
Speaker 2:That was great. That was like a really funny.
Speaker 1:I know I learned it and we're always exactly on time.
