Forbes Magazine Features Art Falcone
According to Forbes Magazine, the traits of successful real estate investors often surface early in life then evolve to play a fundamental role in a career. Recently, they profiled Art Falcone. Ready the story below:
As Founder and Managing Principal of Miami Worldcenter, one of the largest master-planned urban environments in the United States, Art Falcone knows about controversy while maintaining and executing a vision. Miami Worldcenter encompasses more than 30 acres across nine blocks in the heart of downtown Miami. Upon completion, the entitled project allows for more than 15 million square feet of mixed-use multi-billion-dollar development, including retail, restaurant and entertainment, hotel, residential, and office. “With Miami Worldcenter, I had the vision 14 years ago of what I thought would work. It started with an auction property next to the Miami arena.”
Falcone’s career began in the food service industry. At 22, he became the youngest operator of a McDonald’s franchise ultimately growing that to more than 100 McDonald's, Wendy's and other family-style restaurants throughout New York, Florida and California. “Growing up in Queens, I was very sports orientated which gave me a big leg up in being competitive and wanting to win,” Falcone said.
Win he did indeed. In 2005, Falcone sold his homebuilding and land development company Transeastern Properties, Inc for $1.6 billion. “When you come from nothing you have to work a lot harder to get ahead. Starting from zero you are always the underdog which led me to define the traits for my real estate business.”