New York Developer Who Shunned Miami Reverses Course

New York developer Miki Naftali moved to Miami a decade ago. He was in the right place to buy or build at the start of that property market’s huge run-up. 

Instead, he chose not to develop in his new hometown. Other New Yorkers followed him to Florida, where they developed and sold out luxury condo buildings, built hotels that filled with tourists, and even leased up office towers despite a nationwide office market slump.