Related Group’s Nick Pérez Promoted to President of Condo Division
By Julia Echikson April 7, 2023 10:03 am
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Related Group, Miami’s largest condo developer, promoted Nick Pérez to president of its condominium division, Commercial Observer has learned.
Pérez, the son of company founder and CEO Jorge Pérez, assumed the position last week. He replaced Carlos Rosso, who left in 2020 to found his own development firm after spending 21 years at Related.
“I am so excited to be leading a team at the top of their game and capable of delivering properties that define neighborhoods and shape cities,” Nick Pérez said in a statement.
Related Group’s condo portfolio, said to be worth in excess of $15 billion, includes the Miami-based company’s most exclusive developments, such as the St. Regis project planned in Brickell and the Nomad-branded property in Wynwood.
Before joining the family business in 2018 as a project manager, the executive spent five years working in New York at Stephen Ross’ Related Companies, which divested its stake in the Miami group last year.
The Pérez patriarch, 73, plans to eventually cede control of the company to Nick and his older brother Jon Paul, who became the company’s president in 2020.
The appointment comes as Related’s condo division faces some headwinds. The luxury Baccarat-branded condo development in Brickell is facing growing opposition from some locals and Miami’s archeological community as thousands of prehistoric human remains and artifacts, possibly dating as far back as 7,000 years, were discovered on the waterfront site.
In an early win for the developer, Miami’s Historic & Environmental Preservation Board voted Tuesday to withdraw plans to anoint the site a protected historical landmark, allowing Related to proceed with the development. In return, the developer must work with archaeologists and Native American tribes to come up with a preservation plan for the unearthed artifacts, which could include adding exhibition space at the development.
Julia Echikson can be reached at jechikson@commercialobserver.com.
