Hedge Funds head to Miami | A Shift in the Financial Industry

Introduction

Hedge Funds moving to Miami have become a hot topic of conversation over the last two years. Ken Griffin announced his HQ move to Miami on the 13th of July, and the real estate community was really excited. The mass migration of staff not only from Citadel but also other financial groups to follow suit begs the conversation of where these individuals and families will buy.

Whether you are an owner wondering if this migration will benefit your home value or a professional moving into town: this article is for you, the customer. Analytical models and searching for properties are at the forefront of our minds. The Siddons Group is considered one of the most analytical groups in Miami. We work hard to be a source of info for those who speak the language of numbers.

Where should you live if you work for a hedge fund?

Since I am a realtor, I can confess that I have a vested interest in writing this article. This article is for those who either work for a hedge fund or are impacted by the arrival of hedge funds. 

Given that the focus of Hedge Funds is around the neighborhood of Brickell, we have detailed homes for sale that are commutable to and around Brickell. For those who do not want to commute but wish to live in Brickell, we have detailed the best condos. At DSG we aim to provide you with access to the best product and the best place to search for it!

Hedge Funds relocating to Miami have noticed that if left to choose, employees prefer to live in Miami

Brickell –  The Top Neighborhood choice for Hedge Funds

The majority of hedge funds will be in Brickell. Miami’s financial center and most are similar to the dense city core of NYC. Demand for Brickell office space is rising. Brickell’s newest luxury office building; 830 Brickell, which is still under construction (as of Oct 2021) is seeing a very high demand for space. Thomas Bravo signed a lease to occupy the top two floors of the 55-story tower, as did Citadel and Canadian asset and wealth management firm CI Financial.

The Best Neighborhood if You Prefer Single-Family Home Living

If you are moving here with your family, you probably want to live in the area around Miami’s best private schools: Coral Gables, Coconut Grove, Ponce Davis, and North Pinecrest. The above-mentioned areas represent Miami’s core for single-family living, offering high-end real estate and a steady annual appreciation. Other really desired areas for single-family homes are Miami Beach and Key Biscayne.

Coconut Grove

Coconut Grove is synonymous with understated luxury. One of the mainland’s most desired and exclusive neighborhoods, which has stayed surprisingly low-key. The area is very much in demand as it is safe, lush, and located near many of Miami’s most prestigious schools. Coconut Grove is adjacent to Brickell and offers many gated communities along Biscayne Bay. Search directly for Coconut Grove homes for sale

Coral Gables

Coral Gables is also one of the most desired areas of Miami to live in. It is safe, centrally located, and green and offers many golf courses. Most importantly, it is home or close to Miami’s best private schools. An extremely large neighborhood and offers a wide range of properties.

Coral Gables is home to some of Miami’s most prestigious gated communities, which are often not waterfront communities. Search directly for Coral Gables homes for sale

The Coral Gables’ gated communities offers some of Miami’s most sought-after waterfront homes

North Pinecrest

Pinecrest is part of Miami’s most desired residential areas and one of the top areas for families with children. North Pinecrest is close to most of Miami’s top-rated schools and offers beautiful real estate on large lots. If you want to be close to the city’s best private schools or are looking for a large home on almost an acre of the lot, this is the place to be. Search directly for North Pinecrest homes for sale

Ponce Davis

Ponce Davis is tucked away between East and West Coral Gables. Well-located, close to all the prestigious schools, and many brand new homes on large lots make this part of town very desired. Ponce Davis is a small area with fast-growing demand. Search directly for Ponce Davis homes for sale

Miami Beach

If you do not mind being further away from Brickell you might also want to consider Miami Beach. An ultimate waterfront market for those seeking ultra-luxurious mansions and the new playground for hedge fund managers and tech entrepreneurs. Search directly for Miami Beach homes for sale.

Key Biscayne

The island community of Key Biscayne is one of Miami’s most desired residential areas. Key Biscayne is a very laid-back community with golf carts being the preferred mode of transport. Key Biscayne has always been a very upscale market whether you are looking for waterfront or dry lot homes. Search directly for Key Biscayne homes for sale

The Best Neighborhoods if You Prefer Condo Living

Brickell

Brickell is a densely populated city, with many restaurants, shops, bars, a large mall, cinemas, and other forms of entertainment. The most walkable part of Miami and the most similar to NY’s Manhattan. Brickell offers several high-end (often new) condos. Although this is not the place to find the city’s most luxurious condos.  Search directly for Brickell Condos for Sale

Coconut Grove

Coconut Grove is right next to Brickell. A highly desirable area is predominantly single-family homes but with several luxurious condo buildings as well. Buildings such as Park Grove, Grove at Grand Bay, Grovenor House, and the Mr. C Residences. Coconut Grove condo living is less investor-driven and more of a primary market. Search directly for Coconut Grove Condos for Sale

South of Fifth

South of Fifth is the most southern point of Miami Beach and is home to some of Miami’s most desired condos. The neighborhood is trendy, and exclusive and offers one of Miami’s best restaurant and nightlife scenes. South of Fifth condos are luxurious and provide stunning ocean and bay views.  Search directly for South of Fifth Condos for Sale

South of Fifth, the most southern part of Miami Beach

Surfside

Surfside is located just north of Miami Beach and has transformed into one of Miami’s most luxurious condo markets. The Surf Club Four Seasons Residences, Arte Surfside, and the Fendi Chateau Residences always make it in our yearly top 10 luxury condos. Search Directly for Surfside condos for sale.

Bal Harbour

This small area is home to the ultra-luxurious Bal Harbour Shops, which offer several sought-after restaurants and bars. Bal Harbour is a quiet beach town with several very high-end condos like; St Regis Bal Harbour and Oceana Bal Harbour. Search Directly for Bal Harbour condos for sale.

Miami Beach

Miami Beach has always been a desired condo market but lacks some ultra-luxurious products. Condo buyers are now looking at Surfside or Bal Harbour for the more luxurious buildings and to avoid the bikini-clad tourists. Miami Beach is home to some of Miami’s most desired condos: Eighty-Seven Park, Faena House, and Monad Terrace. Search Directly for Miami Beach condos for sale

The village of Bal Harbour is home to some of Miami’s most desired condos

Miami Economics and the Best Real Estate Investment options.

A market driven by a need rather than a want is a market that will not suffer if demand drops or the economy suffers. Discretionary Markets tend to be saturated with rentals. These properties are often off-loaded once landlords need extra cash flow.
Miami’s primary markets as Coral Gables, Pinecrest, Coconut Grove (very small), High Pines, and Ponce Davis are limited to their geographic boundaries. The supply of land is limited, and the neighborhoods are landlocked. This factor makes it nearly impossible to “overload” supply by way of the new product, often seen historically in our condo market.

We have been tracking the Housing and Condo market for over 12 years. Our software has plotted the entire economic cycles across every neighborhood price point, and we have become the experts on pattern recognition.
It is not as simple anymore to say one neighborhood will go up or go down. Markets are far more granular. In the same way, buying an index can expose risk as harder to analyze, so it is harder to do with real estate. We focus on granular analysis, which is why we cover the best Condos and sub-markets with quality reports and cherry-picked advice.

Introducing “CONDO GEEKS”: The most advanced analytics tool ever created for the Miami Condo Market

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Which Hedge Funds have Already Made the Move to Miami?

• Millennium Management
• Citadel
• Balyasny Asset Management
• Bluecrest Capital Management
• Icahn Enterprises
• Tudor Group
• Starwood Capital Group 
• The Blackstone Group Inc.
• Elliott Management Corp.
• Shonfeld Strategic Advisors
• Goldman Sachs
• Virtu Financial Inc
• D1 Capital Partners
• Tiger Global Management
• Apollo Global Management Inc.
• Point72 Asset Management