Miami Draws 120 Family Offices as Financial Firms Take 15% of New Leases
Updated
Updated · The New York Times · Aug 2
Miami Draws 120 Family Offices as Financial Firms Take 15% of New Leases
3 articles · Updated · The New York Times · Aug 2
Summary
More than 120 family offices are already set up in the Miami area, and brokers say demand for office space has accelerated as wealthy families increasingly want money managers nearby.
In the second quarter of 2026, 15% of Miami’s new leasing activity was tied to financial-services expansions, including family offices, reshaping office demand in Brickell and Coconut Grove.
Peter Thiel leased Brickell space at a record $250 a square foot in June; Mohamed Mansour and Tom Brady also lined up family-office space in new Miami developments.
The surge tracks a broader global boom: Deloitte counted more than 8,000 single-family offices in 2024, up about 30% from 2019, with the total expected to top 10,000 by 2030.
That expansion is being driven by rising wealth concentration—families with family offices held more than $5 trillion in 2024, and the average office managed $2 billion in 2023.