Cymbal Development is an innovative and design-driven development and construction company that promotes responsible and professional projects. It was formed with the intent of developing and constructing aesthetically significant real estate assets.
The company excels in developing urban mixed-use properties in underutilized neighborhoods. Our projects typically spur additional, thoughtful development and are a catalyst to further quality-of-life improvements that enhance communities.
We are defined by the highest level of talent and reputation. We stand out as a premier real estate development and construction vehicle. We are committed to a deep, energetic, and professional entrepreneurial spirit and infrastructure.
Achieved 50% to 125% in annual yields for its investors.
Successful track record of opportunistic, distressed real estate acquisitions.
In 2002-2004 developed and constructed close to $700 million in real estate projects.
In 2004 was the lead developer for one of the largest residential condominium conversions in Manhattan.
In 2005-2006 entitled more than 2 million square feet of real estate in Miami.
In 2008 completed the construction and redevelopment of the Cymbal HQ Wynwood, a retail and office complex across from Midtown Miami.
In 2009 opened Bardot, Miami’s hottest live venue bar.
In December 2009, acquired an entire block in the Miami Design District by paying $2 million for a $10.5 million Note.
In 2010 opened Gigi, considered by Newsweek to be one of the top restaurants in the United States.
In 2010, foreclosed on the Miami Design District Note and entitled the property for 42,000 s.f. of retail, 54 residential units, and a 200-car parking garage.
In 2011 achieved 100% occupancy for Cymbal HQ Wynwood in the worst of economic times.
In 2011, acquired the 6-acre Cabi New River site in Fort Lauderdale out of Bankruptcy. At its peak, the property was appraised at $31 million. Cymbal Development acquired the fee simple with the permission of the seller, lender, and Bankruptcy Court for $11.5 million.
In January 2012, sold its $2 million Miami Design District acquisition for $11 million, representing a 550% gain in 24 months.
In August 2013, received unanimous approval by the Fort Lauderdale City Commission for Marina Lofts. Marina Lofts consists of 856 residential units, a dozen retail shops, and a marina for over 200 boats.
In 2017, completed the development of design41, a stunning mixed-use project in the heart of the design district, designed by internationally renowned architect, Enrique Norten.
In 2019, rezoned an industrial site across from Dania Pointe into a 301 unit multifamily project with a marina called Oasis Pointe.
In 2020, partnered with Hector Torres of DLT Global, with the intent of being the premier multifamily developer in South Florida.
In 2020, brought PALMA to reimagine Marina Lofts as Raintree Riverwalk Residences, a world-class, mixed use, nautical district.
In 2021, and in the middle of the pandemic, broke ground on Oasis Pointe as the general contractor, developer, and majority owner. Topped off three months ahead of schedule.
Leasing and Brokerage
Cymbal Development is the general contractor for all of our institutional-sized projects in South Florida.
We are exceptionally ‘hands-on’ in all stages of construction, and we focus on constructibility and efficiencies from the beginning of our projects’ design.
Since we are the general contractors of our projects, our investors will see a 5-6% hard cost savings on all of our projects, along with a higher quality product and execution. These cost savings are passed through to our investors, and the higher quality product serves us well in our multigenerational holds.