Matthew Baron Maps Miami's Next Growth Corridors

Written by:

Steve Marcinuk

Date:

04 Feb 2025

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“There’s no time like the present,” says Matthew Baron, founder and president of Baron Property Group (BPG), when asked about his advice for aspiring real estate investors. “You’re never going to find the most perfect time or the most perfect opportunity. The best thing to do is just jump in and figure it out as you go.”

It’s exactly this philosophy that has guided Baron’s own impressive trajectory in real estate development, from his early days as a commercial broker to now overseeing a robust pipeline of over 3,600 residential units valued at more than $2 billion across New York and South Florida.

From Manhattan to Miami: A Strategic Evolution

Baron’s journey in real estate spans nearly 25 years, beginning as a broker financing deals before co-founding Simon Baron Development in New York. Under his leadership, the firm developed approximately $1.8 billion in projects, primarily focusing on multifamily development and redevelopment in partnership with institutional investors.

In 2021, Baron launched BPG with a refined vision and strategic pivot. “When we started BPG, we crystallized our focus on new development multifamily,” Baron explains. “The real change was our expansion into Miami, which now represents 70% of our business.”

Finding Value in Overlooked Markets

One of BPG’s most ambitious current projects exemplifies the firm’s innovative approach to market selection. The company has made a significant push into Hialeah, a Miami suburb that Baron says shares many characteristics with Long Island City, where his previous firm was an early investor 15 years ago.

“We saw a lot of similarities in Hialeah, where it’s very proximate to some very expensive CBDs like Wynwood and downtown, but also very proximate to transit,” Baron notes. “You’ve got the Metrorail, the Tri-Rail right in front of our sites. You’re two train stops from the Miami Airport, which is one of the largest employers in Miami.”

This strategic positioning allows BPG to offer rents 30-40% below nearby luxury areas while still providing high-end amenities and finishes. The company is currently developing two projects in Hialeah, Metro Parc and Metro Parc North, which offer a combined 1,200 apartments across approximately 2 million square feet, as well as Merrick Parc, a mixed-use development in Coral Gables.

“At the end of the day, this is a price-sensitive market,” Baron emphasizes. “We’re trying to solve a need for a particular tenant in terms of price point. Maybe somebody will trade 10 or 15% of their square footage to be able to afford to be in a nice building with amenities. From that perspective, we can make that rent work while delivering high quality and much better buildings.”

Innovation in Sustainability and Amenities

As BPG has evolved from a merchant builder to a long-term hold strategy, sustainability has become increasingly central to their development approach. “Your mindset shifts a lot when you start to think about owning an asset for 15, 20, maybe 30 years,” Baron explains. “Sustainability can lower operating costs and attract different types of tenants, who are going to be more and more concerned about these features.”

Their current New York residential development, The Park Overture, is one of the first all-electric rental buildings in Manhattan.

The company is also innovating in amenities, particularly for their workforce housing developments. “We’re doing what we like to call a podcast or creative space,” Baron shares, noting the younger demographic they’re targeting in Hialeah. “There are a lot of younger people making their living these days on social media, so we’re creating these creator spaces as part of our amenity package.”

Looking Ahead

As BPG moves into 2025, Baron sees encouraging signs in the market. “We’re cautiously optimistic,” he notes. “Whereas 2023 and 2024 were very challenging times in the capital markets for real estate, it does feel like there’s more positivity coming into 2025.”

The company’s strategy of keeping things “reasonably simple” while identifying underserved markets appears to be paying off. With approximately seven years of development in their current pipeline and an active presence in both New York and Miami markets, Baron Property Group has established itself as a forward-thinking force in transit-oriented development.

For those looking to follow in Baron’s footsteps, his advice remains straightforward: “Everybody’s capabilities are going to be different, and everybody’s goals are going to be different. But if it’s something that you want to pursue, and you’re clear about what your intentions and business plan are, and you’re willing to put in the work – the thing that’s going to set the successful people apart is they’re going to try one more time than the next guy.”