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 Midtown Center, 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 Midtown Center 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.
Leasing and Brokerage
Cymbal Development provides third-party general contractor and construction management services for a host of its South Florida clients. We have completed dozens of construction projects for our retail, restaurant, office, residential, and hotel clients.
We offer extensive pre-construction, value engineering, and design-build services to ensure that your project is completed on time and on budget.
Our company promotes a ‘hands-on’ team environment. The people who estimate the project in the early stages stay with the project through construction and closeout. They are a key part to our management team. This encourages accountability and reduces time wasted resolving design and budget issues later on.
Once a project is under construction, we will assign you a highly skilled and professional project manager who will remain with the project through completion. That project manager will also be a licensed architect and general contractor, ensuring a thorough understanding of your construction needs and timeline. Our project manager will be on-site and will be your main point of contact through project completion.
Our company’s accessibility, responsiveness, and attention to detail have earned us a reputation of having integrity, passion for our work, and a “can do” attitude. This attitude helps foster a partnering approach that benefits all members of a project team – owner, owner’s representative, architect, engineers, and other consultants. This unique approach has consistently resulted in our firm’s ability to exceed client expectations.