Read: From Investment Banking to Luxury Developments: The Vision Behind Vertical
by Traded Media
With a background in investment banking and decades of experience in real estate, Fernando de Nuñez has built a reputation as a visionary leader in luxury development. Before founding Vertical Developments, he orchestrated more than $250 million in transactions and played a pivotal role in over 100 real estate projects, contributing to a cumulative sales volume exceeding $12 billion. As Executive Vice President at ONE Sotheby’s International Realty, he oversaw a $4.5 billion portfolio and was instrumental in launching ONE Capital, the firm’s private equity arm. His expertise in market trends, branding, and finance has made him a sought-after thought leader in the industry.
For de Nuñez, the transition from investment banking to leading Miami’s luxury real estate market as the founder of Vertical Developments was a natural evolution. With over a decade in investment banking and nearly two decades advising developers on unit mix, amenities, and branding, he was already deeply entrenched in the mechanics of high-end real estate before launching his own firm. “I’ve always liked the numbers side of the equation,” says de Nuñez. “Real estate has been in my family for generations—my grandfather and mother were both architects—so I grew up surrounded by floor plans. Over the years, I advised on 115 projects, working with about 60% of Miami’s developers, so moving from advising to
executing wasn’t as difficult as people might think.” But while his financial acumen and strategic insights made for a smooth transition, there was one missing piece: construction experience. “If you haven’t been on a construction site, it’s hard to truly understand the process,” he admits. That’s why he partnered with
BYB Group, a Peruvian firm with extensive development experience. “They’ve been developers, general contractors, and sales and marketing experts for 35 years.
Their expertise complemented my knowledge of the U.S. market, deal flow, and branding strategies perfectly. It was a marriage made in heaven.” A Dual-Focused Luxury Strategy Vertical Developments has carved out a niche in two key market segments: high-end boutique condominiums and branded short-term rental residences with centralized management. “We focus on the high-end spectrum because, in a high-interest rate environment, ultra- wealthy buyers are less affected. Around 65-80% of luxury transactions are cash purchases,” de Nuñez explains. The ability to absorb price increases without major
disruptions in sales velocity makes this sector particularly attractive.
Branding has also become a cornerstone of Vertical’s approach. “When you align with a strong brand, you create instant recognition, and brokers—who drive 90% of sales in Miami—remember you. It also ensures a level of quality that discerning buyers appreciate. One standout project is Elle Residences in Edgewater, a first-of-its-kind collaboration with the iconic fashion and design magazine. “I initially envisioned a project with Vogue, but that didn’t materialize. When we secured the Edgewater site near the Design
District, Elle felt like the perfect fit. They have Elle Decor, which spans 40 countries and plays a major role in global design trends. Every detail in the building reflects their aesthetic, from furniture sourced from their international design awards to curated interiors that avoid the ‘copy-paste’ hotel look.” Expanding Beyond Miami While Miami remains a hotspot, Vertical Developments is expanding into other key Florida markets, including Pompano Beach and Fort Lauderdale. “Pompano is the last frontier—it offers tremendous value, larger floor plates, and an abundance of waterfront properties at more accessible prices compared to Miami and Palm Beach,” de Nuñez notes. “Broward County is always a few years behind Miami, but it follows the same trajectory.
As infrastructure and lifestyle amenities improve, demand surges.” A prime example of this expansion is the Riva Residence’s in Fort Lauderdale, the world’s first-ever yacht-branded condominium. “It took us two years to convince Riva to partner with us. They were hesitant at first, but after seeing how we successfully positioned other luxury brands, they felt confident we could uphold their legacy.” In Pompano Beach, Vertical is developing Armani/Casa Residences, an exclusive 28- unit oceanfront property. “Unlike Armani’s Sunny Isles project, this one is more intimate, with just one unit per floor. The interiors are curated with an emphasis on textures and neutral tones, creating a seamless blend between the greenery of the park and the blue of the ocean.” Coral Gables: A Luxury Niche Another key market for Vertical is Coral Gables, where the company recently launched The Village and Alhambra Park. “Unlike Miami’s oceanfront properties, urban developments need a different layer of amenities and finishes to remain competitive. Coral Gables has an affluent local community and is seeing an influx of corporate relocations, making it an ideal luxury market,” he says. With units ranging from $1 million to $4.5 million, Vertical is tapping into an underserved segment in the neighborhood.
Advice for the Next Generation For those looking to break into real estate development, de Nuñez emphasizes two key skills: benchmarking and networking. “You need to know your competition inside and out. Visit their properties, listen to their sales presentations, and learn what brokers and buyers are saying. No platform provides all this information—you have to build relationships and stay ahead of the market.” As Vertical Developments continues to redefine luxury real estate, it’s clear that de Nuñez’s meticulous approach—balancing financial strategy, branding, and market foresight—is shaping the future of high-end living in South Florida and beyond.