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XBTO CEO Philippe Bekhazi and Two Roads Development’s Reid Boren with 2955 Northeast Seventh Avenue (Google Maps)
Cryptofinance firm XBTO Group is moving its headquarters to Miami.
The New York-based firm paid $5.4 million for a waterfront commercial condo at Biscayne Beach in Miami’s Edgewater neighborhood. Two Roads Development, which built the 51-story tower, sold the 5,400-square-foot space, said Arden Karson of Karson & Co., who brokered the deal. It traded for $976 per square foot.
Arden Karson
XBTO Group could not immediately be reached for comment.
The commercial unit at 2955 Northeast Seventh Avenue hit the market last year for $6 million with Karson and Douglas Elliman’s David Restainer.
JetBlue Considering Moving Workers From Queens HQ To Florida JetBlue s lease is up in 2023.
JetBlue has told its employees it is evaluating its office space and may be leaving its headquarters space in Long Island City and shifting some jobs out of state.
The airline told staff in a memo last week that it is considering a “number of paths” regarding what to do when the Queens lease expires in 2023, the New York Post reports. One idea is to send more staff to Florida, where it has a center in Orlando and a location in Fort Lauderdale. However, it may also head to another borough in the city or possibly stay in Queens.
Miami has come to be known as the sixth borough of New York City, flourishing through the pandemic as moneyed Northeasterners have made a well-publicized move south. High earners, who in any other year would be packed into subways on their way to Midtown skyscrapers, are instead filling the Miami restaurants and buying pricey Florida houses and condos as coronavirus restrictions made New York City’s winter more brutal than ever.
The migration is more than Wall Streeters. A bevy of New York City commercial real estate players, whose business stakes are firmly in the Manhattan ground, have been operating from South Florida. The weather isn’t the only draw. Miami has emerged as an easier place to work on New York deals than the Big Apple itself, industry players told
You could call it the tweet heard around the world.
In early December, Delian Asparouhov, a principal at venture-capital firm Founders Fund, threw out a proposal moving Silicon Valley to Miami. Francis Suarez, a real estate attorney who stepped into the mayor’s chair in 2017, quote-tweeted the investor. He asked, “How can I help?”
Suarez’s response went viral with more than 2 million impressions and thousands of likes. The mayor later likened it to “catching lightning in a bottle.” He was suddenly in conversation with major venture capitalists and tech executives from around the country, grateful for a friendly ear in what has become a political climate openly hostile to Big Tech. Keith Rabois, a member of the “PayPal Mafia” and an early investor in Opendoor, SoftBank Group CEO Marcelo Claure and Shutterstock founder Jon Oringer are among those palling up with the 43-year-old mayor on Twitter. Rabois has become the city’s most prominent evangelist among the tech c