(PRESS RELEASE) MIAMI — For New York real estate developer Yair Levy, a visit to the Miami Jewelry District a few years ago made him focus on Downtown Miami. Levy has a long history of knowing excellent retail locations, having started his career in the clothing business several decades ago in one of the most competitive markets in New York City. Looking for an opportunity to buy and develop in locations like Miami Beach, Aventura, and Wynwood did not inspire Levy to take the risk that most developers face when cultivating new markets. Levy always relied on his instinct for up-and-coming locations to guide him on his quest to invest in the hot market of South Florida. He explored all his options and saw opportunity in Downtown Miami
What was needed was an influx of not only capital but creativity and vitality. Capitalizing on the interest of businesses to relocate to Miami after Covid 19 and the rush of buyers to a red hot Miami luxury real estate market, he locked into a truly unique development opportunity, Levy bought the land that housed the Richard’s Metro Mall at 1 NE 1st Street. There he knew he could meld an influx of affluent consumers moving into all the new luxury condos and apartments currently under construction close to his recreation of Miami’s Jewelry District, bringing all the glitz and glamour of the 50s and 60s into a modern luxury setting. That was the genesis of the idea for an area that generates close to $1 billion in sales annually.
Miami’s Jewelry Sector Melds with One of the U.S.’s Hottest Luxury Real Estate Markets.
“With my background in retail, having owned over 21 stores in the New York area, I was very familiar with the jewelry industry,” Yair Levy said in an