Asi Cymbal, Chairman, Cymbal DLT Companies

Invest: spoke with Asi Cymbal, chairman of Cymbal DLT Companies, about opportunities in South Florida real estate, the importance of timing and location, and the role of design in development. “We believe that this is the best time in this construction and economic cycle to build,” Cymbal said.

What changes over the past year have most influenced your perspective on development and investment in South Florida?

The last year has offered more opportunities than we have seen historically in developing real estate and acquiring real estate. On the development side, there are tremendous opportunities in ground-up development due to the fact that construction starts have significantly tapered off. What we have seen is more hunger on the side of subcontractors to get their workflow going, which gives us better negotiating power than we would ordinarily have.

We believe that this is the best time in this construction and economic cycle to build because the cost of construction will be the lowest in this cycle. That dynamic creates a window where developers who are ready to move forward can benefit from more favorable pricing and conditions.

On the acquisition side, we are seeing many opportunities to acquire great assets at great values. That is something we are actively pursuing, as well. From a development standpoint and an acquisition standpoint, the current environment is offering opportunities that we have not seen in some time.

How would you describe the environment for real estate development in the region? What opportunities are you seeing, and how are you leveraging them?

For top-tier developers, there is still an opportunity to get projects off the ground. Of course, the economics need to be more compelling than they have been in the past. We are seeing lenders tightening their underwriting and requiring more equity, which changes how deals are structured.

If you are coming into a deal with more equity, you are able to get the deal done. That is a key factor in today’s environment. I also think that requirement helps stabilize the market, because it ensures that projects are better capitalized.

For the right projects, in the right locations, and in prime spots, with more equity, the opportunity is tremendous. It is about being disciplined and making sure that the fundamentals of the project are strong.

What are you paying the most attention to when evaluating new opportunities?

We are looking at the trajectory of the neighborhood in which we are developing or acquiring. That is important. We are focused on prime sites, and we only develop prime sites.

We currently have a prime site in Midtown Miami that we are developing, and a prime waterfront site in downtown Fort Lauderdale. That prime waterfront site is part of our Nautico District, a marine, longevity, hospitality, and lifestyle campus. We are also continuing to look for other prime sites to develop. Location is the most important factor in our decision-making process.

In addition to location, we are also paying close attention to competition. We want to make sure that housing starts do not accelerate in a way that eliminates our competitive advantage. We experienced that advantage during COVID, when we were the first out of the gate and the first to deliver, and we were able to lease up without any competition. That type of positioning is what we are looking for again.

Your approach is described as design-driven and focused on enhancing communities. How does that translate into your day-to-day work?

We take tremendous pride in the developments that we undertake. We do not want to just build a box and move on to the next one. That is not how we approach development.

We are looking to make a meaningful contribution to our communities. We do that by paying close attention to design, wellness, sustainability, and technology. These are all elements that we consider essential to the developments we create.

We also like to bring original art into our projects. It is part of creating an environment that feels intentional and thoughtful. At the end of the day, we want to be proud of how we contribute to the communities and to the overall cityscape.

Can you expand on how wellness and sustainability are reflected in your projects?

When it comes to wellness and sustainability, our focus is on quality of life. That includes noise quality, air quality, and water quality. These are fundamental elements that affect how people experience a space.

For example, in our Oasis Pointe project that we delivered in Dania Beach across from Dania Pointe, which includes 301 units, the party walls are made of concrete instead of drywall. That provides greater sound attenuation, which improves the living experience.

The same is true of Laguna Gardens in Miami Gardens, which is an architecturally significant series of 10 four-story buildings on the Turnpike next to Hard Rock Stadium. These are the types of decisions and features that we emphasize across our developments. They are all centered around improving quality of life.

How do you approach identifying neighborhoods with potential for future growth?

We are generally pioneers in our investments. We invested in Midtown Miami before Midtown Miami fully developed. We have a project there of approximately 598 units on 35th Street and North Miami Avenue. Since then, Midtown has developed, along with the Design District and Wynwood, and now we sit at the intersection of all three neighborhoods, which has become a prime location.

We identified the Miami Design District before it boomed. We developed Design 41, which was the first and tallest building in the area at the time, designed by Enrique Norten.

We were also pioneers in Dania Pointe. Across the street from that development, we built only the second Class A office building in Dania Beach at the time, on the water, across from a million square feet of retail.

In Laguna Gardens in Miami Gardens, we took a location that was previously overlooked, next to Hard Rock Stadium, and developed an architecturally significant 13 acre campus with 341 units. Those units offer the same quality as developments in downtown Fort Lauderdale or downtown Miami, but at a fraction of the price.

Our marquee project is our 6.5-acre Nautico District in downtown Fort Lauderdale on the water. When we acquired it, there were no high-rises around us. Now we are surrounded by thousands of units that have been built. We are essentially the hole in the donut, and now is the right time to develop that site into a world-class marine, longevity, hospitality, and lifestyle campus.

These are the types of opportunities we look for, where we can enter early and benefit from long-term growth.

What role do design and project concepts play in shaping the relationship between developments and their surrounding communities?

Good design enhances quality of life. That is something I learned over time. I was not exposed to good design, art, or architecture growing up, and I came to understand its value later on.

It did not initially make sense to pay more for better design, but I realized that it has a meaningful impact on how people feel and live. Whether people are conscious of it or not, they respond positively to well-designed environments.

As developers, we have a responsibility to make sure that what we build enhances people’s lives. That is a key part of how we think about our role in the community.

Looking ahead, what are your top priorities for the next three to five years?

My priority is to make sure that we complete our marquee Nautico District on the waterfront in downtown Fort Lauderdale and execute on our Midtown Miami project. We will continue to look for new opportunities in South Florida.

Is there anything else you would like to add?

We are at a moment where South Florida is seeing a renaissance. There is a lot of attention coming from other states and from people relocating to the region.

Miami and West Palm have received a lot of attention, and we believe Fort Lauderdale is going to receive a tremendous amount of attention in 2026. As Miami and West Palm continue to grow, Fort Lauderdale is positioned between them, and that creates a significant opportunity.

We believe this will be a great opportunity for Fort Lauderdale, and specifically for downtown Fort Lauderdale.