Gil Dezer, President, Dezer Development

In an interview with Invest:, Gil Dezer, president of Dezer Development, discussed the company’s latest projects, the strength of South Florida’s luxury real estate market, and industry challenges like rising insurance costs. “When you build the best, the buyers follow,” he said.

What were your company’s key milestones and achievements over the last 12 to 18 months?

We started construction on several projects. We broke ground on a Rosewood condominium project in Hillsboro Beach. We also had the groundbreaking for Bentley Residences last year. Right now, we’re in the foundation phase for Bentley, and we’re actually a few weeks ahead of schedule — but we’re cautious because you can easily lose time in construction.

We launched these projects about a year ago, but now they are actively under construction. We closed our loan for Hillsboro and are looking to close a loan for Bentley in the next few months. Sales are going well — we’re more than 50% sold in each project.

How would you characterize the current state of the South Florida real estate market?

I tell people there’s the market, and then there’s us. We operate in our own microcosm. Think of it like cars — there are sports cars like Porsche and Ferrari, but then there are supercars like Bugatti. We’re in the super-luxury segment of real estate.

There’s still demand at the top. We’re seeing buyers come in. In fact, we’re waiting on a contract to be signed today for a $34 million penthouse. 

Our average unit price at Bentley Residences is around $8 million, and at Rosewood, it’s now north of $10 million. These are large, high-end residences because that’s what buyers want. Many are moving from big houses to condos, but they still want space. They want a luxury experience.

For example, at Bentley Residences, we’ve announced our resident chef — Todd English, a four-time James Beard Award-winning chef — who will be curating the restaurant menu. We’re elevating the living experience in every way. Each unit in Bentley Residences even has its own private swimming pool, which you won’t find in any other building.

That’s why I say we’re not really part of the general market — we’re at the top tier, and there’s always room at the top for buyers.

How do brand collaborations enhance both the value of the properties and the customer experience?

What we do better than anyone else is matching the brand with the product. The unit types in a Porsche-branded building are very different from those in a Bentley-branded building. We look at the brand’s identity and the buyers who resonate with it, and we design accordingly.

At Bentley Residences, for example, we’re not just slapping a name on the building. Bentley plays with diamond textures and prints in its cars, so we incorporated a three-dimensional diamond fa§ade into the building’s exterior. It’s a seamless integration of the brand into the design — elevated but not overdone.

This connection with the brand helps us reach the right buyers. When a buyer already identifies with the brand, the sales process becomes much smoother.

What factors are driving demand in the luxury condo and condo-hotel markets?

A big factor is that people are tired of maintaining large homes. We hear it all the time: they’re tired of dealing with the pool guy, the landscaper, the handyman — there’s always someone coming in and out.

Especially in Florida, where the salt air wears down homes quickly, maintenance is a constant challenge. A condo offers an easier way of living. Everything is taken care of — restaurants, services, and even pet spas are in the building. If you need to leave town, you just lock up and go, without worrying about managing the property while you’re away.

It’s full-service living — like staying in a five-star hotel, but without the hotel guests. That’s what makes it so appealing.

What sets your developments apart in the Miami market?

We’re building the best condos in South Florida, and that’s what truly sets us apart. Because of our reputation, our towers attract celebrities and billionaires, drawing extra attention to our projects.

Take the penthouse we’re selling — it comes with a “man cave,” which is essentially a high-end car storage unit. The owner will have access to 14 cars at any time. With the push of a button on his phone, the car elevator will retrieve the vehicle and bring it downstairs.

It’s going to be one of the most incredible apartments anywhere in Miami. When you build the best, the buyers follow.

Given the current economic conditions, what key trends are you observing?

Over the last 30 days, one of the biggest challenges has been managing construction costs, especially with the uncertainty around tariffs. Not knowing where they’re headed makes planning difficult.

Interest rates are extremely high, and insurance costs are skyrocketing to unjustifiable levels. These are major concerns for the industry. Hopefully, the new government will address these issues because they’re real problems moving forward.

Insurance, in particular, is becoming a serious issue for everyone. The joke is that newer buildings, anything built in the last 10 to 20 years, already meet the latest codes, so there’s no reason for insurers to be charging such high premiums. But they are, and no one is policing them. The government needs to step in and regulate the industry to prevent this from continuing.

How are you incorporating sustainability and energy efficiency into your projects?

We’re building our developments to meet current codes and pursuing Florida Green Building certification to ensure our buildings are energy efficient.

For example, our windows feature a low-E coating, which helps reduce heat penetration. This means the units require less air conditioning to maintain comfortable temperatures, making them more energy efficient.

Another interesting feature is our car elevator. Most people don’t realize how elevators work, but they operate on a counterbalance system, where the motor only moves the weight of what’s inside the cab. In our case, when the elevator moves up, it actually generates electricity and sends it back to the power grid. It’s a small but significant innovation in sustainability.

What other innovative features or experiences can we expect in your upcoming projects?

We’re the first building in Miami to put swimming pools on every single balcony — something we also did at Porsche Design Tower. Surprisingly, no one else has copied this idea yet, despite copying many of our other innovations.

Another major feature is our diamond-faceted glass. Unlike traditional flat windows, ours have an in-and-out diamond pattern, inspired by Bentley’s signature design elements. This will create a unique reflective effect, almost like a lighthouse, making the building stand out — especially when approaching Miami by boat from the Bahamas.

Getting the diamonds to align floor by floor was more challenging than expected, but we made it work. It’s details like these that set our projects apart.

What emerging opportunities do you foresee in the South Florida real estate market over the next five to 10 years, and how is your company preparing for them?

Florida’s growth isn’t slowing down, and Miami-Dade is at the center of it. People are still moving here in large numbers, and demand for real estate remains strong.

We have enough property to continue building for the next 20 years, but we’re taking a slow and steady approach to development. We’re not rushing to build everything at once. The market is thriving, and Florida continues to solidify its position as the place to be. With each passing year, that trend is only becoming more evident.