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How will mass-scale tourism fare when the economy reopens: Florida

June 28, 2020 by luxadmin

Florida Mass Scale Tourism Going Forward…

Florida’s mass scale tourism, which profits off packing people into beaches, theme parks, cruise ships and airports, means the Sunshine State is among the hardest hit by a contagious virus that thrives on the social connections and personal contacts Sunshine State travel produces.

Nationwide, the pandemic will create $1.2 trillion in economic losses this year. About $520 billion are in direct travel spending, meaning travel and tourism has taken the brunt of the virus.

So far, Florida is the sixth-hardest hit state by COVID-19′s impact on tourism, according to a study by WalletHub. And the tourism and retail industries have the most jobs at-risk when it comes to dealing with the public, according to the Florida Chamber of Commerce.

In Palm Beach County, tourism is the county’s second largest industry, second only to agriculture.

http://discover.pbcgov.org/touristdevelopment/Pages/default.aspx

Whenever government leaders fully relax restrictions on social gatherings, experts agree tourism will rebound, but in a much different way.

“We will re-emerge as a completely different industry than we were,” said Peter Ricci, director of the Hospitality and Tourism Management program at Florida Atlantic University in Boca Raton.

Modifications for social distancing, face masks, and the heavy use of technology likely are among the changes in place for an indefinite period of time, creating constant reminders that life is different.  Amid the coronavirus crisis, May was a surprisingly busy month for Palm Beach real estate, as a new sales report released by Tina Fanjul Associates shows. The number of new single-family contracts jumped 400% in a year-over-year comparison of data from the local multiple listing service.

Anyone who has been watching real estate in Palm Beach over the past several weeks has seen the number of new contracts — and closed sales — attest to the remarkable vibrancy of the market in chaotic times.  Real estate agents and brokers barely have had time to keep their sales tallies updated, even as the country grapples with the effects of the coronavirus pandemic and the widespread social unrest that followed the Memorial Day death of George Floyd while in police custody in Minneapolis.  But as far as the island’s real estate went, the month of May delivered numbers that were nothing short of startling, with contract after contract being inked for properties town wide.

As one broker said in an informal conversation with the Daily News: “It’s like we took two-and-a-half months out of the calendar, and now we’re back to the height of the season.”  The busy market was driven, in large part, by out-of-town buyers from areas hard hit by the coronavirus crisis seeking homes in Palm Beach, multiple brokers have reported.

The May sales data was documented in a monthly sales report released late last week by Tina Fanjul Associates. The longtime independent real estate agency in Palm Beach is headed by broker Tina Fanjul and President Crista Ryan.  The Palm Beach market “remained strong through May with a large increase in under contract single-family homes in both the North End and the Estate Section,” noted the report, which used figures from the Palm Beach Board of Realtors’ Multiple Listing Service as its basis.  In all, May’s single-family closed sales totaled $111.75 million, the report showed.

Here are some insights about how Palm Beach real estate performed last month, courtesy of Tina Fanjul Associates’ report.

Palm Beach saw more new single-family listings in May compared to a year ago, “signaling strong seller confidence in finding a buyer late in our season,” the report said.

There was a 400% year-over-year increase in single-family properties that landed under contract on the North End. And in the Estate Section, the number of homes that went under contract doubled, compared to May 2019.

Town-wide dollar sales in the single-family category, the report said, remained “relatively unchanged” in a year-over-year comparison — with the exception of an ocean-to-lake “outlier sale” on Billionaires Row at 1820 S. Ocean Blvd., which closed last month for $46.75 million. As previously reported by the Daily News, broker Lawrence Moens of Lawrence A. Moens Associates had the listing for that property and agent Alan Quartucci of Brown Harris Stevens acted for the buyer, the MLS shows.

The steady sales numbers indicate “a continued strong market despite national setbacks” realted to the coronavirus crisiss, the report said.

May also saw no steep, across-the-board price discounts for MLS-listed single-family properties that changed hands. Overall, properties sold for between 5% and 10% percent of their MLS asking prices, the report said.

On the condominium and co-op scene, shoppers in May encountered a 130% increase in new listings for so-called “in-town” units — those in Midtown and the near North End — compared to a year ago. Prices ranged from $475,000 to $18.75 million. And the number of condo units that went under contract matched figures from May 2019.

For Luxurious Office Space in Palm Beach County; contact Ben Yomtob Properties

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5300 West Atlantic Avenue
Delray Beach, FL 33496

Email: ben@yomtobinvestments.com
Phone: 561-542-8222

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To read original sourced content please visit The Palm Beach Daily News

Filed Under: Ben Yomtob, Business News, Featured, News, Palm Beach County Tagged With: COVID-19, FLORIDA TOURISM, YOMTOB PROPERTIES

Rex Baron – VRex Lounge

January 17, 2020 by luxadmin

Rex Baron-VRex Virtual Realty Lounge

Looking to escape reality and spend time with the dinosaurs or pilot a plane? Head to Boca’s Boca’s Rex Baron restaurant and hi-tech VRex Lounge.

Located at Town Center Mall in the Nordstrom wing, the virtual reality lounge and post-apocalyptic dining experience are opened after some unanticipated delays.

The second outpost in the Rex Gryphon Restaurant Group concept opened to the public on Dec. 12 after a private VIP reception was held the night before.

The VIP party was attended by the Rex Gryphon Restaurant Group’s executive team and its newest member former NFL New York Giants running back and Dancing with the Stars winner Rashad Jennings.

The former football star, New York Times bestselling author and youth advocate is spending some his time developing and increasing awareness of the REX, Restaurant, Entertainment, Experience, Vigilante Post brand.

“Rashad was intrigued with the restaurant group’s positive message of rebuilding community as this is something he does each and every day through The Rashad Jennings Foundation,” shared hospitality industry veteran and lead developer of Rex Gryphon’s vigilante posts Michael Norris. ”We look forward to his valued contribution to Rex Gryphon where he will be focusing on both the brand’s healthy menu offerings and an increased alignment with charity causes.”

At the grand opening, Jennings told the Delray Newspaper that the chicken wings are the best he has ever tasted. He also shared that is gluten free and the menu items can accommodate many dietary restrictions.

Before food was served, guests were invited to experience flying a plane, driving a race car or painting like Picasso in the VRex Lounge. Exclusively outfitted by VRgineers based in Prague, the lounges will be the only public VR venues in the world offering XTAL, the world’s first VR headset with AutoEye and embedded

 Leap Motion with 5k resolution.

From there, folks entered the dining room where “the art of food meets the art of survival.

“To disrupt and excel in an ever-evolving industry, we have created and mastered the REX at our posts by offering a high quality, healthy and delicious menu with a storied, rustic, new world cross-generational atmosphere that engages and stimulates,” Norris said. “We look forward to sharing the REX with greater South Florida, its residents and businesses, and visitors, as it is an easy drive from Miami to Stuart.”

For Luxurious Office Space in Palm Beach County; contact Ben Yomtob Properties

Yomtob Properties
5300 West Atlantic Avenue
Delray Beach, FL 33496

Email: ben@yomtobinvestments.com
Phone: 561-542-8222

Ben Yomtob Personal Branding site:

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SOURCE:

https://delraynewspaper.com/rex-baron-opens-after-delay-brings-on-former-nfl-running-back-rashad-jennings-to-executive-team-29302

Filed Under: Business News, Delray Beach, Featured, News Tagged With: BEN YOMTOB, DELRAY BEACH, REX BARON, VREX LOUNGE, YOMTOB PROPERTIES

Crest Theatre – Delray Beach – Old School Square

August 20, 2019 by luxadmin

Crest Theatre – Old School Square – Delray Beach

A historic South Florida theater that opened in the 1920s will renovate its interior to the tune of about $1 million. The first phase of the renovations will take about nine weeks and among the improvements will be increased space, seating and natural light, new carpet and fixtures, updated restrooms and more.

The Crest Theatre in Delray Beach — located in the heart of Old School Square — is a National Register of Historic Places site built in 1925 as a high school that now hosts art classes, exhibits, comedy and musical theater performances.

“The Cornell Art Museum [which sits next to the theater] just went through a $1 million renovation as well from the same donor and the same builders as well, so it will take that same look, refresh it and still pay homage to the history and the feel of the historic site,” said Holland Ryan, chief operating officer at Old School Square Center for the Arts. “Margaret Blume is our private donor; she’ll be doing the donation of $1 million.”

Ryan said the renovations will be completed in two phases, the first of which is expected to take about nine weeks.

“The first phase will…be completed by Nov. 1 of this year and will include various upgrades including automatic openers to our historic doors. Because we’re a national historic site, the doors are smaller and a little bit harder to get to and from for our art students and all our patrons, so we’ll be adding automatic openers to those,” he said.

The Crest Theatre in Delray Beach is undergoing the first phase of its $1 million renovation.
Other renovations include “updating the lobby, opening it up, putting in a new box office, creative art school, reception desk, doing upgrades to our first-floor restrooms, all the carpeting and some of our bar area to increase and improve traffic for patrons that are visiting us for events to really move bar lines along,” he said.

During the first phase, the Crest Theatre building will be closed, according to Ryan, but the box office and creative art school registration area will be available at the Cornell Museum and online.

“Some of the classes for the creative art school that start next semester are going to be relocated to the facilities on the south end of the building that are not a part of the phase-one renovation,” Ryan said.

The renovation will be done by Fort Lauderdale-based architecture company Walters Zackria Associates.

“We are a not-for-profit organization,” Ryan said. “We obtained the land in 1989 […] and we definitely appreciate and thank our generous donor, Margaret Blume, and the help of our architect and builder.”

 

 

SOURCE:

Sun Sentinel: 

https://www.sun-sentinel.com/community/delray-sun/fl-cn-delray-beach-historic-crest-theatre-renovations-20190906-wlwpu2a3qje6dljkpivspz2hb4-story.html

For Luxurious Office Space in Palm Beach County; contact Ben Yomtob Properties

Yomtob Properties
5300 West Atlantic Avenue
Delray Beach, FL 33496

Email: ben@yomtobinvestments.com
Phone: 561-542-8222

Ben Yomtob Personal Branding site:

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Filed Under: Delray Beach, Featured, News, Palm Beach County Tagged With: BEN YOMTOB, DELRAY BEACH, THE CREST THEATRE, YOMTOB PROPERTIES

New Restaurant for Delray Beach – Elisabetta’s Ristorante Bar Pizzeria

June 23, 2019 by luxadmin

Elisabetta’s Ristorante Bar Pizzeria – New Restaurant for Delray Beach 

A long-awaited Italian restaurant by the Big Time Restaurant Group finally will throw open its doors in May at the former 32 East restaurant space in downtown Delray Beach.

The restaurant at 32 E. Atlantic Ave. will be known as Elisabetta’s Ristorante Bar Pizzeria.

The name is a play on Big Time’s longtime partner and executive chef, Lisabet Summa, said Todd Herbst, partner in the West Palm Beach-based Big Time Restaurant Group. “She’s Italian and has been with Big Time for more than 20 years as a partner,” Herbst said. Elisabetta is Lisabet in Italian.

Big Time partners considered making the Delray Beach restaurant another Louie Bossi’s, which has locations in downtown Boca Raton and Fort Lauderdale.

But Herbst said Big Time decided to call the restaurant Elisabetta’s to give Summa the recognition she deserves.

“It’s time she shared the spotlight with the likes of Rocco Mangel and Louie Bossi,” Herbst said. “Like Louie, Lisabet also has a deep connection to her Italian ancestral roots and it shows in her recipes and cooking.”

Elisabetta’s is a long time coming, a point noted when Herbst said he’s been working on getting the space ready to open for “100 years.”

In fact, it’s been only a year since 32 East restaurant served its last meal in 2018 on Mother’s Day, May 13. But it feels like 100 years because the deal was inked back in 2017, and then renovations on the old building turned out to be more than Big Time partners expected.

They ended up taking the space down to the studs. “We went in there and removed every pipe, wire, wall, and nail,” Herbst said. “We rebuilt the entire restaurant.”  The expense was so high Herbst wouldn’t give an exact dollar figure. He said only that the redo will hit close to eight figures, making it the most pricey endeavor the company has launched in South Florida.

Herbst said the finished product will be worth the expense and the wait.

In addition to the food, which will be similar to Louie Bossi but have a more “tavernesque” approach, with a greater emphasis on classic Italian dishes, the decor will be special, Herbst said.

One of the reasons why it took over a year to build is because Big Time “curated a lot of things from Italy,” Herbst said.  The designer took staff and management to Italy, and Tuscany turned out to be a goldmine. There, they found a 300-year-old fireplace mantel, which will be the centerpiece of a private dining room for 18 on the second floor.  And yes, it’s a working fireplace, under construction now. “We don’t mess around,” Herbst said.

The first and second floors will feature regular dining and bars on both levels. But the upstairs bar will be indoor-outdoor bar, taking advantage of the patio that overlooks Atlantic Avenue.

Turn-of-the-century fixtures, including chandeliers, also are part of the restaurant’s decor, which will feature a great deal of wood.

As a result, Elisabetta’s will feel vintage when it opens mid-May, Herbt said.

While Herbst said there are no plans to start a large chain of Elisabetta’s, he predicted the restaurant will be so popular there will be demand for additional locations, much the same way Louie Bossi’s success in downtown Fort Lauderdale prompted the opening of a downtown location in Boca Raton.

That’s not to say Big Time doesn’t know how to do chain restaurants. The company just opened its 9th Rocco’s Tacos & Tequila Bar at the Mercato shopping center in Naples last month. “There were lines out the door, like it was Black Friday,” Herbst said.

Lisabet Summa is the most influential local chef you’ve never heard of.

In the kitchen, they call Lisabet Summa “L.B,” a nickname her 86-year-old Italian father ridicules whenever he hears it. El Bee? That’s a long way from the lilting name he wanted for her at birth. Pragmatic minds settled on Lisabet, but to her father, Summa will always be Elisabetta, never a pair of convenient consonants.

As Summa is poised to enter what she calls the “third act” of her career, she does so by honoring her father’s name preference. The veteran chef is the force behind Elisabetta’s, an upscale trattoria slated to open in May in the former 32 East building in Delray Beach’s dining district.

Summa is perhaps the most influential local chef you’ve never heard of. She’s a partner and the corporate culinary director at the Big Time Restaurant Group, overseeing 14 kitchens belonging to the group’s six restaurant concepts, which are City Cellar, Louie Bossi’s, Rocco’s Tacos, City Oyster and Sushi Bar, Grease and Big City Tavern. She launches new locations, writes new menus, finds sources for ingredients and keeps current kitchens in check. She has laser eyes for items and norms that don’t belong in a scratch kitchen. That box of ground pepper? Out. She expects only freshly ground.

“She has worked unsung for years and knows the work that goes into just opening places,” says Summa’s good friend Judith Olney, a respected culinary writer living in West Palm Beach.

Olney tells the story of Summa’s recent visit to Naples, where she opened Florida’s latest Rocco’s Tacos location: Summa washed dishes late into the evening to help out her staff.

“She’s very hands-on,” says Olney. “She has vast amounts of energy and wants to be working.”

This is work Summa has done behind the scenes for the past 21 years, during “Act II.” Now, with a concept that’s inspired by her love of simple, essential Italian cooking, Summa is ready to step into the spotlight. That’s not to say she wants to bask in it alone. Ask her about her upcoming restaurant and she’ll talk about her team, which includes executive chef Kevin Darr and her partner Louie Bossi, a chef with two branded Big Time restaurants.

Sources:

GM 5 – 

http://gm5lkweb.newscyclecloud.com/article/20190402/ENTERTAINMENTLIFE/190409525

West Palm Beach Post 

https://www.palmbeachpost.com/news/20190306/long-awaited-italian-eatery-opening-soon-in-delray-beach

For Luxurious Office Space in Palm Beach County; contact Ben Yomtob Properties

Yomtob Properties
5300 West Atlantic Avenue
Delray Beach, FL 33496

Email: ben@yomtobinvestments.com
Phone: 561-542-8222

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Filed Under: Delray Beach, Featured, News Tagged With: BIG TIME RESTAURANTS, DELRAY BEACH, LISBET SUMMA, YOMTOB PROPERTIES

Small Business Week – South Florida

May 9, 2019 by luxadmin

Small Business Week

Small businesses are flourishing in South Florida, many of them got their start in the buildings of Yomtob Properties.  Ben Yomtob supports small business growth in the region and offers some of the most luxurious office space in the area.

CBS 12 recently aired a segment and Blog Post on Small Business Week; here it is rebroadcast.

Small business owners and entrepreneurs are being recognized this week for the big role they play in communities across the country, including here in South Florida and along the Treasure Coast.

It’s all part of National Small Business Week.

Anyone who owns a business or has attempted to start one knows how difficult and overwhelming it can be; for the owners of the Lighthouse Diner in Jupiter it all started when they inherited the restaurant after their father passed away.

Ryan Perez, one of the three brothers who now own the diner, told us he was just about to open a restaurant in New York when it happened. He made the trip to Jupiter under the assumption the brothers would just fix the diner up and lease it to other owners but soon his plans changed.

“I saw this place and within about a week to ten days, I fell completely in love with it,” he said. “I got my brother on the first plane and we started working.”

Fast forward seven years, they say the diner has become somewhat of a local landmark, one they hope continues to grow.

Perez says the diner, which has a great view of the Jupiter lighthouse, has been around for decades and that part of being a good business owner means staying consistent.

“We are family-owned, home-cooking, affordable for everybody. This has been here since the 1950’s and this has been a landmark here so the thing I was scared about was, I did not want to ruin this name here. I wanted to keep this name going.”

While it is their goal to stay true to what customers know and love, Perez says they’ve also been forced to change with the times. That means learning to take full advantage of social media from a business standpoint.

“I had to learn to do all of that,” he said. “We do all the Instagram, Facebook; we try to get on all the formats.”

Whatever your business may be, Perez said most importantly it’s about being present and having a strong team of support.

“Hands on; be here everyday. If you are an absentee owner, it is hard to get the place off the floor. You have to rely on yourself and your staff.”

Aside from the expected networking benefits that come with joining a local chamber of commerce, there are also free workshops and mentoring opportunities available.

For example, Joseph Catrambone, the CEO at the Stuart Martin County Chamber of Commerce told us they have volunteers who will sit down with aspiring entrepreneurs to offer free consulting and guidance when it comes to drafting a business plan as well as offer workshops on customer service and how to utilize technology.

At the Greater Delray Beach Chamber of Commerce, they offer the1909 Business Accelerator which is a startup boot camp that helps train you to start a business. The group meets one night per week for eight weeks. The program also includes personalized mentorships and concludes with “pitch night,” giving entrepreneurs a chance to pitch their business in front of local investors.

The City of Delray Beach’s Office of Economic Development has also declared May as “We Love Small Biz Month.”

There are a lot of free workshops throughout the month that you can take advantage of. Click here for the full list of events.

Source:
Small Business Week

CBS12

For Luxurious Office Space in Palm Beach County; contact Ben Yomtob Properties

Yomtob Properties
5300 West Atlantic Avenue
Delray Beach, FL 33496

Email: ben@yomtobinvestments.com
Phone: 561-542-8222

Ben Yomtob Personal Branding site:

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Filed Under: Boynton Beach, Deerfield Beach, Delray Beach, Featured, News Tagged With: BEN YOMTOB, SMALL BUSINESS WEEK, SOUTH FLORIDA, YOMTOB PROPERTIES

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