The New York-based real estate development firm Witkoff is expanding to Miami
After three decades based exclusively in New York City, the real estate investment and development firm Witkoff is expanding beyond the Big Apple to the Magic City.
“We believe in the growth of Miami,” said the company’s executive vice president Alex Witkoff.
The firm opened a 6,000-square-foot office just north of the Design District at 4400 Biscayne Blvd. in December. Witkoff said the office will employ 30 to 40 employees by 2022, some of them relocating from the New York headquarters. He plans to hire professionals with experience in investment, asset management, legal and accounting work.
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Various factors drew the organization to South Florida. “Miami has emerged as a global city,” he said. “It has fabulous weather, a favorable tax environment, a skilled labor force and a thriving culture. We spoke with our team and that’s where they wanted to live.”
The organization will soon announce several projects it has in the pipeline for Miami-Dade County. The firm previously developed the Washington Park Hotel at 1030 Washington Ave. in Miami Beach, which opened in 2016.
“We plan to develop real estate in Miami,” Witkoff said.
The firm is known to have in the past acquired, restored, maintained and sold some of New York’s most iconic buildings, including the Woolworth Building. It also developed the luxury condo tower 111 Murray in Tribeca, the Times Square EDITION boutique hotel and, in California, the West Hollywood EDITION Hotel & Residences.
Witkoff’s father and founder of the firm, Steve, relocated to Miami permanently in 2019. According to the Real Deal, he spent $10 million on a single-family home in Miami Beach over the summer.
