David Marom, Owner & CEO, The Horizon Group

The Horizon Group has a very clear target market which is the international buyer. “Right now we’re looking at international buyers.  Locals or snowbirds from the northeast, like Chicago and New York, are more hesitant to buy at the moment,” said David Marom, owner & CEO of the company The Horizon Group.

Could you give us an overview of The Horizon Group?

The Horizon Group is a real estate development and general contractor firm operating in New York and South Florida. We branched into Miami three years ago. Like many other people from the northeast, my wife and I migrated to the Miami area during COVID and then we started looking into local development opportunities. We sourced and purchased three great parcels to build from the ground up — and we are very happy!

What are some of the most significant projects you are doing in Miami?

Miami has a strong real estate market, making it easier to move products, especially through pre-sales. Buyers understand and appreciate the value of investing early in a project.  

For example, at 9900 West in Bay Harbor Island, we sold 40% of the units before even breaking ground. Now that construction has begun, we anticipate even more interest. The first wave of buyers is typically investors looking for opportunities to purchase below market value.

With construction underway, we expect to attract even more buyers — those familiar with the market who can assess the available units, evaluate the product, and recognize its quality. Overall, we’re very pleased with how things are progressing.

In addition, we have another development in North Miami, Residences at Nomi, which is specifically designed for the 55 and over community. We are anticipating receiving a Temporary Certificate of Occupancy (TCO) later this month, allowing us to begin renting the apartments soon after. These are high-quality rentals tailored for active adults 55 and older. We’re very excited about the opportunities in this growing market.

What are tenants looking for in terms of amenities, design, and beyond?

The demand for hybrid work, lifestyle, and community-driven spaces is shaping the layout and amenities of our development. In Miami, people expect high-quality gyms and pools, and we’ve made sure to provide them. Residences at Nomi feature seven unique amenities designed to enhance the tenant experience.

Beyond the gym, residents will enjoy a pool, poker room, yoga room, movie theater, and golf simulator, offering a diverse range of activities. This development is particularly attractive to the 55 and over community, who value a strong sense of connection and accessibility. We’ve ensured the building is walkable and well-integrated into the neighborhood, with a museum, retail, dining, and recreation options just steps away.

How are the recent economic challenges impacting your Miami projects?

Economic challenges, particularly inflation and the high cost of borrowing, have created obstacles for American buyers, as many are not accustomed to such high interest rates. However, the impact varies for international investors.

Buyers from South America and other regions approach the market differently, and we also see strong interest from European investors, particularly from Germany and Italy. For them, purchasing is often easier since they primarily buy in cash—though their main hurdle is the logistics of transferring funds.

In New York, we recently opened the condominium 609 Second Avenue, where we’ve observed a wave of interest from Asian buyers. Their primary challenge is navigating the process of transferring money from their countries into the U.S.

Despite these financial hurdles, the market remains strong. When you understand the landscape and how to adapt, Miami continues to be an attractive place to build and invest.

What is your target market?

We are primarily targeting international buyers, as local buyers from the Northeast — particularly in cities like Chicago and New York — are more hesitant to invest right now. However, Miami and New York remain very stable markets with strong long-term potential.

Our focus is on attracting these international investors by showcasing our product, our track record, and our reputation as a reliable and high-quality builder. Historically, these investments have yielded strong returns, and we want to demonstrate that our developments are well-built, well-managed, and a smart investment choice.

What opportunities do you foresee for the Miami real estate market over the next few years?

One of the biggest opportunities in Miami lies in creating inclusive housing solutions, particularly addressing the growing demand for affordable options for the 55+ community. We are deeply engaged in this sector and have already developed buildings that cater to this demographic. Since this market segment requires high-quality services and responsive management companies, we are partnering with Greystar, a highly reputable company to ensure seamless operations.

Currently, we are in the early stages of planning another 55+ community, which will take longer to develop. A neighboring area in Miami, having seen the success of our North Miami project, approached us to bring a similar development to their town. We have hired the architect, legal teams are working on the necessary paperwork, and we anticipate bringing this project to market within the next two to three years.