South Florida Real Estate 2025: Billionaires, Megadeals & Market Shifts

South Florida real estate experienced sharp contrasts in 2025. Billionaire investors pushed record-setting deals forward, while rising costs and legal setbacks slowed other developers. As a result, the market delivered both historic highs and notable pullbacks.

Construction financing continued to flow, but only for well-capitalized projects. Meanwhile, office and multifamily developers pulled back despite Federal Reserve rate cuts. Condo developers struggled through the summer. However, buyer demand rebounded in the fall.

At the same time, legal disputes and condo association battles intensified. In many cases, these fights involved some of the region’s most powerful real estate players. Meanwhile, uncertainty grew in Tallahassee. Gov. Ron DeSantis and state lawmakers proposed changes to property taxes, though final outcomes remain unclear heading into 2026.

Billionaire Moves Reshape the Market

Several high-profile investors dominated headlines in 2025. Steve Ross expanded his footprint in West Palm Beach. In turn, he emerged as one of the region’s strongest office landlords. Notably, his firm signed the only new-to-market tenant among South Florida’s largest office leases.

Meanwhile, Amancio Ortega doubled down on Miami-Dade County. His family office closed two major office acquisitions in Brickell and the Design District. Together, the deals reinforced South Florida’s appeal to global capital.

Ken Griffin remained active as well. Although he acquired fewer properties, he advanced plans for a $2.5 billion bayfront supertall in Miami. In addition, he secured approvals for a private marina in Miami Beach.

Megadeals Reset the Market

At the top of the market, deal volume surged. Oak Row Equities and OKO Group closed a record-breaking $520 million purchase of a Brickell waterfront assemblage. Consequently, the transaction set a new benchmark for development land pricing in South Florida.

Elsewhere, off-market residential sales also reached new highs. In Palm Beach, a quiet oceanfront deal reportedly exceeded $160 million. Although the sale was never publicly recorded, it highlighted continued demand for trophy assets.

Condo Buyout Litigation Reaches a Turning Point

In contrast, legal headwinds intensified for some developers. Two Roads Development suffered a major setback after Florida’s Supreme Court declined to hear the Biscayne 21 appeal. As a result, holdout unit owners gained leverage.

Previously, the developer had attempted to lower the termination threshold through a condo association amendment. However, appellate judges ruled that unanimous consent was required. Ultimately, the Supreme Court’s decision left the lower court ruling intact.

Multifamily Developers Reassess Strategy

Meanwhile, many multifamily developers listed sites for sale in 2025. Higher construction costs and slower rent growth weighed on new projects. In addition, a wave of deliveries from prior years pressured lease-up activity.

Still, some market participants pushed back on oversupply concerns. Instead, they pointed to tight equity markets and cautious lenders. Encouragingly, new construction loans late in the year suggested conditions may be improving.

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