Masters of Moments
Navigating NYC & Miami's Toughest Markets: Development Insights with Matthew Baron - President and Founder of Baron Property Group
Jan 22, 2025
Matthew Baron, Founder and President of Baron Property Group, dives into the dynamic real estate markets of NYC and Miami. With over 30 years of experience, he shares his journey from his first deal to pivoting into hotel development amid crises. The discussion covers risk mitigation strategies, the evolution of Long Island City, and the importance of location in attracting residents. He also highlights the challenges of navigating union labor in NYC while transitioning to the Miami market, emphasizing the value of local partnerships and long-term ownership.
01:14:04
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Quick takeaways
- Matthew Baron emphasizes that investing in quality construction and experienced professionals leads to better project outcomes and increased asset value.
- Navigating New York's real estate market requires adaptability and an understanding of the region's distinct, fast-paced culture compared to other markets like Miami.
Deep dives
Learning Through Mistakes
Making mistakes is viewed as one of the best ways to learn, particularly in the real estate industry. The speaker references the high failure rate of successful baseball players to emphasize that taking risks is crucial for growth and development. Early experiences taught them that focusing solely on saving money was a flawed mindset; instead, prioritizing quality construction leads to better overall results. Investing in experienced professionals ultimately results in faster project completion, fewer issues during construction, and increased asset value.
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