Miami’s Legendary “Condo King” Is Back and Putting Panama On The Global Luxury Real Estate Map
Philip J. Spiegelman Announces His Newest International Brokerage, IGR Panama, And Inks His First Deal With Panama City’s Iconic Wanders & Yoo Development
AVENTURA, Fla., May 11, 2023 /PRNewswire/ — Miami real estate legend, Philip J. Spiegelman, is back and bolder than ever. His newest sales and marketing company, InterAmerican Global Realty (IGR) Panama, a division of Six Diamond Resorts International (SDRI), has its sights set squarely on international buyers again. But this time he’s unlocking the “Oasis Of The Americas” (Panama) instead of Miami for which he made his name back in the 1990s.
When it comes to independent brokerages and agents, it’s hard to put up the numbers Spiegelman can lay claim to over the past three decades. Over his storied South Florida real estate career, Spiegelman has sold more than 20,000 condominium units spanning over 100 buildings, primarily through his former partnership International Sales Group (ISG) which he grew into one of the largest exclusive real estate sales and marketing organizations in the U.S.
Dollar-wise Spiegelman’s sales have totaled more than $25 billion ranging from $200,000 studios to multi-million dollar penthouses and have been brokered through partnerships and relationships with many of Miami’s most prolific real estate developers, including Jorge Perez’s Related Group and Property Markets Group (PMG).
Spiegelman also made his name in the real estate and brokerage communities by pioneering many of the sales tactics and strategies that developers and agents consider standard today, including pre-construction selling, preferred strategic broker partnerships, apartment to condo conversions, and targeting international investment, buyer, and “capital flight” markets in South and Central America by working with global brokers, wealth management firms, and family offices.
Building on this track record for setting precedents and smashing sales records, Spiegelman and SDRI are now putting Panama on the global luxury real estate map as Latin America’s newest, most undiscovered, and potentially lucrative market for buyers and investors.
“After more than 50 years in the South Florida real estate market and promoting the benefits and beauty of places like Miami and Palm Beach to international buyers, I’ve come to the realization that the world is changing. While some markets become hot, bubble, and froth—like Miami has since the pandemic—real estate brokers and agents need to look at a new world view to see and project future trends. As I surveyed the globe for where I could apply my experience with a high opportunity for success, my focus became centered on the last overlooked tropical oasis in the Western hemisphere—Panama—a country where I previously had experienced great success by selling out the Trump Ocean Club and whose geographic and cosmopolitan features closely resembled those of South Florida.”
Panama’s “moment”, as a recent Forbes article described it, isn’t just based on the country’s similarities to other well-known travel and retirement destinations like Costa Rica, however, says Spiegelman.
“Panama sits midway between the Northern and Southern hemispheres, linking geography and culture. The country has a stable government, a dollar-based economy, ideal weather, a skyline to rival the world’s best cities, warm and friendly people, cutting-edge infrastructure, easy access, and modern medicine. This is where I told myself that the global real estate future is in terms of value and lifestyle. My past efforts helped to reposition Miami as a sophisticated modern international destination for real estate buyers from all over the world. My goal now is to do the same for Panama.”
Spiegelman’s first, recently inked real estate deal in Panama is called Wanders & Yoo, a multi-tower, luxury development in one of the Panama City’s premier locations with interiors and lifestyle common areas designed by famed Dutch “starchitect” Marcel Wanders.
The development features impeccably finished and turnkey one, two, and three-bedroom condominiums, many with balconies overlooking the Panama City skyline. Additionally, units can be delivered fully furnished with a two-year rental guarantee to take advantage of Panama City’s red-hot AirBnB market for buyers who are looking to invest for income. Prices for select two- and three-bedroom units at Wanders & Yoo’s first tower, which is already complete, start in the US$500,000s, which is a fraction of the cost of similarly sized and appointed units in South Florida. Tower two will begin development shortly with one- and two-bedroom units. All of the Wanders & Yoo amenities, including a luxurious pool deck, gym, squash court, and spa, are also completed and available for the immediate enjoyment of the building’s residents.
“The target market for a building like Wanders & Yoo with its high-end finishes and amenities is the global individual looking to diversify their portfolio by adding quality real estate that can offer both a return and appreciation, or the international businessperson with interests in the city, or the ex-pat looking for a glamorous lifestyle in an international environment at an affordable price. Overheated markets such as Miami have risen in price to the point where it is unlikely that those goals can be achieved in the future. For an individual that is considering relocation, Panama is an oasis in the western hemisphere that is politically and safety stable, easily reached, and has great health care, culture, shopping, restaurants, recreation on a world class level.”
Photo assets for IGR Panama and Wanders & Yoo can be found here.
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SOURCE InterAmerican Global Realty
