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Kobi Karp says South Florida multifamily leasing is accelerating
He pointed to a Miami River project, Flow’s Flow, with about 635 units that leased roughly 80% in around 80 days, as rents run $5 to $6 per square foot.
Kobi Karp, founder of Kobi Karp Architecture and Interior Design, told Commercial Observer that the projects currently moving forward in South Florida are largely multifamily apartments.
He highlighted a completed Miami River development with about 635 units run by Flow, saying the building leased 80% of its apartments in approximately 80 days.
Karp said demand for the new properties is strong, and he attributed it to amenities and lifestyle-oriented functions.
He added that rents in these developments are “traveling” between $5 and $6 a foot, while describing a substantial level of renter interest in the area.