MIAMI: New York-based hedge fund J. Goldman and Co signed a lease at a new Miami Beach office building that’s seeking some of the highest rents ever seen in the market.J. Goldman agreed to take roughly 10,000 sq ft of space at the Fifth Miami Beach, according to a person familiar with the deal.

       It’s the first lease signed at the property, where rents are expected to reach US$170 a square foot, the person said, asking not to be identified citing private matters.

       A representative for J. Goldman didn’t immediately respond to calls seeking comment.

       Developers Sumaida + Khurana and Bizzi and Partners, and Cushman and Wakefield, the brokerage handling office leasing for the site, declined to comment.

       A representative for former Google chief executive officer Eric Schmidt, a co-owner of the building, didn’t immediately respond to a request for comment.

       The property will be the first new office building in more than 15 years in Miami Beach’s South of Fifth neighborhood, one of the region’s most prestigious areas.

       Demand for offices in the Miami area has surged since the pandemic, with tech and finance tenants setting up shop to draw talent that moved south for the warmer weather and lower taxes. — Bloomberg

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