As president and owner of Cymbal Development, Asi Cymbal has over 30 years of experience in real estate development, construction, finance, and law and has acquired, developed, or constructed more than $1 billion in projects.
He has a great sensitivity for the environment and a driving passion for architecture and design. That passion has been critical to him contributing in a positive way as a real estate developer.
“I have worked with the best architects and designers in the world, and they have taught me about good design and the impact that it makes,” explains Cymbal. “Good design enhances quality of life.”
Mr. Cymbal has been named by the South Florida Business Journal as a Heavy Hitter in Construction and Real Estate Development, a Top 100 Power Leader, and one of 2013’s People to Watch. He has also appeared on the front page of the Wall Street Journal.
What sets Cymbal Development apart from competitors is the company’s dedication to design-driven development and construction. They are sensitive to their environments and engage in strategically important and responsible projects with the intent of developing and constructing aesthetically significant neighborhoods.
“The pandemic has left a significant influence on the future of both residential and commercial developments,” explains Cymbal. “Financing dried up for many projects. Banks were shut down for many months. Local banks are still slow to lend. We were fortunate that we were able to close on a $60 million construction loan in the midst of the pandemic for our 301-unit Oasis Pointe Residences in Dania Pointe and break ground on the project.”
Oasis Pointe Residences is a new multi-family residential community focusing on outdoor amenities and state-of-the-art design features for a post-COVID-19 world.
“We are spending more time at home than we ever anticipated, and our homes now function as multi-purpose spaces doubling as workspaces, classrooms, and gyms, in addition to serving as our personal sanctuary,” explains Cymbal. “We redesigned our communities to accommodate for the things that I would want if I lived there.”
The luxury indoor and outdoor living spaces were redesigned to respond to the timely demands for better natural ventilation, lighting, and fresh air quality. The amenities seek to enhance the mental and physical well-being of residents.
For example, all of the air flowing through the building is now fresh air. There is no recycled air on the property, which is unusual in multifamily projects. Pumping fresh air throughout the building has a significant cost premium, but the importance of this post-pandemic amenity was a priority for Cymbal Development.
Oasis Pointe Residences also feature an air purification, sterilization, and ionization system that is 99% effective against COVID.
With wellness and health integration in mind, the common areas were redesigned to maximize outdoor amenities.
Inspired by the surrounding water and nature, key amenities and features of the eight-story building include: butterfly and meditation gardens; a boat club; a waterfront boardwalk with a 19-slip marina; an outdoor lap pool; a fire pit with outdoor BBQ and picnic areas; a dog park; state-of-the-art, open-air fitness facility and yoga studio; and an indoor lounge and game room.
“These thoughtfully designed details create fresh-air havens of relaxation and retreat,” said Cymbal.
Due to the pandemic’s effect on remote work, Cymbal redesigned an indoor lounge into a Zoom lounge, a collection of private and semi-private office suites outfitted with the latest videoconferencing technology so that residents could comfortably work from their community.
Another residential design trend on display is touchless entries throughout the community, flooring with antimicrobial surfaces, stainless steel appliances, touchless faucets in common areas, and quartz countertops.
The Oasis Pointe lobby features double-height ceilings that open to a marina, waterway, and pool amenities. The building features high-end flooring, modern furniture, LED lighting, indoor glazing, and customized millwork that evokes tranquil and peaceful waterfront living.
This development is within walking distance from Spirit Airlines’ new corporate headquarters where over 1,000 employees will be based, and is across the street from a Starbucks, a Sprouts Farmers Market and supermarket, as well as dozens of restaurants and shops. Residents can cross the street to the hustle and bustle of a major, walkable, shopping and entertainment district, but then come home and unwind in their peaceful, waterfront oasis.
Another one of Cymbal’s future developments, Raintree Riverwalk Residences in Fort Lauderdale, is being redesigned to promote a century-old raintree on the property. “The new design really respects the raintree by treasuring it and highlighting it,” said Cymbal who brought in PALMA Architects to reimagine Bjarke Ingels’ original design.
Raintree Riverwalk Residences will also have public walkways around the raintree and along the New River. It will feature fountains, lots of compelling landscaping, and a dock with a potential water taxi stop.
For the build-out of design41, the tallest mixed-use office and retail complex in the Miami Design District at the time of completion, Cymbal worked with internationally renowned architect Enrique Norten of TEN Arquitectos, Mexico City for a LEED Silver Certified build-out. State-of-the-art design features such as water efficiency, utilization of low energy, improved indoor air quality, water harvesting, and use of sustainable materials in constructing the building were optimized.
Great design has always been part of Cymbal’s story. When Mr. Cymbal worked on Downtown by Philippe Starck, a 1.1 million square foot residential project on Wall Street that was completed over 15 years ago, it featured the sophisticated design of one of the world’s truly great designers and architects. That project was amenity-driven, with offerings such as a bowling alley, basketball court, an incredible gym, the installation of the original JP Morgan chandelier in the lobby (one of the largest in the United States), amazing outdoor spaces, and other fun features like custom lighting systems designed by Starck throughout the property.
In addition to designing the way people live and work, Mr. Cymbal has co-created and been involved in over half a dozen restaurants and clubs in Miami, including gigi, Bardot, and Sra. Martinez. Sra. Martinez was an especially memorable venture, featuring celebrity chef and James Beard award-winner, Michelle Bernstein.
What’s next on the horizon? Cymbal Development is seeing opportunities in the marketplace that are creating tremendous yields for its investors. The company is appealing to the influx of new Florida residents with the creation of thoughtful and design-driven communities for a post-pandemic world. While Cymbal Development currently has a $600 million pipeline in its portfolio, it is looking to double that to $1.2 billion by the end of the year.